Foundry Networks

( FDRY) said it now expects to earn between 6 cents and 7 cents a share on revenue of $84 million for the first quarter ended March 31, down sharply from the previous forecast of 8 cents to 12 cents a share on revenue between $100 million to $110 million. Analysts were expecting earnings of 11 cents a share on sales of $104.4 million, according to Thomson First Call. The stock was down 68 cents, or 7.2%, to $8.77 in after-hours trading.

ImClone Systems

(IMCL)

and

Bristol-Meyers Squibb

(BMY) - Get Report

said that they will delay seeking government approval for Erbitux for head and neck cancer to provide more time to formulate a trial end-point. The companies now plan to seek approval by year-end. ImClone was down $3.82, or 10.82%, to $31.49 in after-hours trading, while Bristol-Meyers was unchanged at $25.32.

Ventas

(VTR) - Get Report

announced that it has entered into an agreement to acquire all of the outstanding common shares of Provident Senior Living Trust in a transaction valued at $1.2 billion. Provident shareholders will receive 0.4951 Ventas common shares and $7.81 in cash for each Provident common share. Shares of Ventas were unchanged at $26.19.

Wet Seal

( WTSLA) announced that it will postpone the release of its fourth quarter and fiscal year 2004 financial results and will apply for an extension of its Form 10-K filing. The company did not give a reason for the delay. The stock was down 57 cents, or 14.92%, to $3.25 in after-hours trading.

American Capital Strategies

(ACAS)

announced it has invested $50 million in the buyout of Stamping Specialties Corp., which does business as Electro-Component Assembly Company. American Capital's investment is in the form of senior term loans, senior subordinated debt and common equity. American Capital will now hold a controlling equity stake in ECA. The stock was unchanged at $31.50.

Faro Technologies

(FARO) - Get Report

announced that sales for the first quarter ended April 2 were $27.3 million, up 30% from a year ago. The company also said new order bookings were up 31.4%, to $25.1 million. Faro reaffirmed its guidance for 2005, saying sales should range between $121 million and $126 million. The stock was up $1.24, or 4.78%, to $27.20 in after-hours trading.