Updated from 5:26 p.m. ET to include rue21, Omnivision, Advanced Analogic, and latest prices.
NEW YORK (
) -- Shares of
Blue Coat Systems
( BCSI) fell sharply in late trades after the maker of Web security and network optimization applications issued a below-consensus outlook for the current quarter.
Blue Coat also came in shy of analyst expectations for its fiscal fourth quarter ended April 30 on both the top and bottom lines.
"I am not satisfied with our revenue performance, as we did not deliver the top-line results that I believe we are capable of," said Mike Borman, the company's president and CEO, in a statement. "While Blue Coat is well positioned in two great markets and possesses a strong and competitive product portfolio, the company is in transition as we work to improve our revenue performance."
The Sunnyvale, Calif.-based company said it expects non-GAAP earnings of 18 to 25 cents a share for its fiscal first quarter ending July 31 with revenue projected between $110 million and $117 million. The current average estimate of analysts polled by
is for a profit of 33 cents a share in the July period on revenue of $122.4 million.
The stock was last quoted at $20.83, down 6.8%, on volume of nearly 235,000, according to
. Based on a regular session close at $22.36, the shares were already off nearly 23% year-to-date, reversing course since hitting a 52-week high of $32.22 on Jan. 7. The stock had already broken through both its 50-day and 200-day moving averages of $26.34 and $28.02 respectively.
Wall Street was showing some trepidation ahead of the report as 11 of the 18 analysts covering the shares were at either hold (10) or sell (1), but the 12-month median price target was still a bullish $29.50.
shares turned higher in a volatile extended session after the Santa Clara, Calif.-based chip maker reported weaker than expected quarterly results, saying the performance reflects "typical seasonality of our consumer centric end markets" but gave an above-consensus outlook on its conference call.
The company reported a non-GAAP profit of $189 million, or 29 cents a share, in its fiscal first quarter ended April 30 on revenue of $802.4 million. That performance was lower than its year-ago equivalent profit of $260 million, or 38 cents a share, on revenue of $856 million, and it missed the average estimate of analysts polled by
for earnings of 30 cents a share in the April period on revenue of $825.6 million.
After initially sliding as low as $14, a decline of almost 4% from its regular session close at $14.56, Marvell shares were last quoted at $15.83, up almost 9%, on volume of 2.7 million, according to
The turnaround follows the company reportedly forecasting non-GAAP earnings of around 37 cents a share for the second quarter on revenue of between $870 million and $910 million on its conference call, according to
. Wall Street's current consensus estimate is for a profit of 34 cents a share in the July-ending period on revenue of $875.4 million.
Advanced Analogic Technologies
Advanced Analogic Technologies
( AATI) soared after the company agreed to be acquired by
for a hefty premium.
The deal values Advanced Analogic shares at $6.13 per share in cash and stock, more than 50% above the stock's trailing 30-day average, Skyworks said. Advanced Analogic shares closed Thursday's regular session at $3.90, and the stock was changing hands at $5.95 in late trades on volume of nearly 80,000. Shares of Skyworks ticked 11 cents lower to $26.92 on volume of around 20,000 at last check.
Advanced Analogic makes energy-efficient chips for the consumer electronics, communications and computing markets, and the company posted a non-GAAP loss of $4.7 million, or 11 cents a share, for its fiscal first quarter ended in March on revenue of $20.5 million. Based on the $6.13 per share consideration quoted in the press release, the deal is worth roughly $262 million.
Other stocks moving in Thursday's late session include
, which leapt 15.3% to $32.98 on volume of 85,000 after the Warrendale, Pa.-based fashion apparel retailer trounced Wall Street expectations for its fiscal first quarter and lifted its full-year earnings outlook to $1.50 to $1.54 a share vs. the current consensus view of $1.43 a share; and
, whose shares fell 5.4% to $34.44 on volume of nearly 1 million after the maker of digital image sensors gave a wide range for its first-quarter non-GAAP earnings of 64 to 77 cents a share vs. the average analysts' estimate of 69 cents a share.
Written by Michael Baron in New York.
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