The Night Watch: JDS Uniphase Dives After Posting Results

The maker of optical components says first-quarter sales dropped 45% sequentially.
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JDS Uniphase

(JDSU)

was one of the biggest losers in Instinet trading during the extended session, as the company's shares slid 7.7% to $9.19 following the release of the optical-component maker's quarterly results.

After the close, the company said first fiscal quarter sales totaled $329 million, down 45% from $601 million in the fourth quarter. JDS posted a loss of $260 million, or 20 cents a share, excluding various items. Including all items, the company lost $1.2 billion, or 93 cents a share. The company pointed out that its income before items figure doesn't exclude the restructuring and other expenses associated with a cost-reduction and realignment program. Analysts were expecting a loss of 3 cents, but JDS didn't provide a comparable figure. A televised report was putting the loss at 5 cents for the quarter, excluding the realignment costs.

VeriSign

(VRSN) - Get Report

, which posted earnings before items of $59.7 million, or 28 cents a share, in the third quarter, was off 6.6% to $49.83. Analysts were calling for earnings of 16 cents.

Volume was fairly heavy after hours, with around 2.5 million shares changing hands in the first 30 minutes of trading.

Oracle

(ORCL) - Get Report

was among the most active stocks in the extended session, slipping 0.2% to $13.92 after falling 4.8% during regular trading. Before the bell Thursday, Salomon Smith Barney downgraded Oracle to neutral from outperform based on the stock's valuation, competition concerns and downward estimate revisions. The firm also reduced its price target to $13 to $15.

Sun Micro

(SUNW) - Get Report

, as usual one of the volume leaders, fell 1.9% to $9.80. The

Nasdaq 100 Tracking Stock

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, another favorite of traders in the late session, slipped 0.3% to $36.68.

Optimal Robotics

(OPMR)

was one of the biggest percentage gainers on Instinet, trading up 6.2% to $25.75.

Expedia

(EXPE) - Get Report

rose 5.4% to $30.15, but volume was light.