PXRE

( PXT) shares plummeted in after-hours trading Thursday after the reinsurer increased its loss estimates from the 2005 hurricanes and said it is exploring strategic alternatives. PXRE increased its pretax loss estimates from hurricanes Katrina, Rita and Wilma by an amount between $281 million and $311 million. Its prior estimate had been $462 million to $477 million. As a result, the company said it is likely that its "A-" financial strength ratings will be taken down. Because of the potential negative effect of the lower ratings on its future business, PXRE said it is exploring options and has hired Lazard as a financial adviser. Shares fell $8.59, or 72%, to $3.30 in after-hours trading.

Shares of

Red Robin Gourmet Burgers

(RRGB) - Get Report

gained in after-hours trading after the restaurant chain beat Wall Street's lowered fourth-quarter earnings expectations. The company's income slipped 3.5% to $5.5 million, or 33 cents a share, from $5.7 million, or 34 cents a share, a year earlier. Revenue rose to $116.5 million from $97.6 million. Analysts polled by Thomson First Call were looking for earnings of 30 cents a share and sales of $116.8 million. Last month, the company had lowered its guidance and projected earnings of 29 cents to 32 cents a share.

For the first quarter, Red Robin expects revenue of $169 million to $171 million and earnings of 41 cents to 45 cents a share, including about 5 cents in stock-based compensation costs. Analysts forecast earnings of 44 cents a share and revenue of $171.9 million.

For the full year, the company projects earnings of $1.72 to $1.82 a share, which includes 18 cents a share in stock-based compensation costs. The company sees full-year revenue of $590 million to $598 million. Wall Street targets call for earnings of $1.75 a share and revenue of $599.4 million. Red Robin shares rose $2.41, or 6.2%, to $41.50 in after-hours trading.

Shares of

Brocade Communications

(BRCD)

advanced after the company's first-quarter earnings were double what Wall Street expected. The data storage equipment maker posted earnings of $25.9 million, or 10 cents a share, excluding items, compared with $28.3 million, or 10 cents a share, a year earlier. Revenue for the January quarter increased 5% to $170.1 million. Analysts were looking for earnings of 5 cents a share and $157.9 million.

For the second quarter, Brocade expects earnings, before items, of 5 cents a share, in line with Wall Street expectations. The company projected second-quarter revenue of $157 million to $162 million, compared with analysts' sales forecast of $155.2 million. Brocade shares gained 27 cents, or 5.4%, to $5.22 in after-hours trading.

Sapient

(SAPE)

shares rose after the technology services company beat Wall Street's fourth-quarter earnings expectations. The company posted adjusted income of $9 million, or 7 cents a share, compared with $7.5 million, or 6 cents a share, a year earlier. Analysts were expecting earnings of 5 cents a share. Including all items, earnings were $11.4 million, or 9 cents a share, compared with $8 million, or 6 cents a share, a year earlier. Service revenue for the quarter rose 28% to $84.7 million. Sapient gained 50 cents, or 7.7%, to $6.97 in after-hours trading.

Shares of

Weight Watchers

(WTW) - Get Report

were higher after the weight management company beat Wall Street's earnings expectations by a penny. The company posted income of $38.9 million, or 38 cents a share, compared with $43.2 million, or 41 cents a share, a year ago, which includes a one-time tax benefit. Analysts had expected earnings of 37 cents a share. Revenue increased 8% to $251.2 million.

For 2006, Weight Watchers expects earnings of $2.18 to $2.28 a share, excluding about 8 cents to 9 cents in expenses related to stock-based compensation. Analysts expect earnings of $2.22 a share. The company also said its board authorized initiation of a quarterly dividend of 17.5 cents a share. Weight Watchers gained $1.54, or 3.1%, to $51.20 in after-hours trading.