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Updated for latest price quotes, added content.



) -- Shares of

Brocade Communications


slumped in extended trading on Monday after the San Jose, Calif.-based networking equipment maker topped analyst expectations for its fourth-quarter profit but said it could see a sequential decline in revenue for the current quarter.

The company forecast revenue of between $535 million and $550 million for its fiscal first quarter ending in January, a performance that at best would be flat with its fourth-quarter total of $550 million. The current average estimate of analysts polled by

Thomson Reuters

is for revenue of $557 million in the January period. Brocade attributed the weak outlook to an expected decline in its ethernet business with the federal government in the wake of the mid-term elections and resulting "uncertainty in Congress" with appropriations legislation for fiscal 2011.

The stock was last quoted down 4.7% at $5.43, according to

, on volume of roughly 2.9 million, which compares to the issue's trailing three-month daily average of 17.3 million. Based on a regular session close of $5.70, the shares are down more than 24% so far in 2010.

Brocade projected non-GAAP earnings of 9 to 10 cents a share for the January period, well below Wall Street's current consensus view of 14 cents a share. For the fiscal fourth quarter ended in October, the company reported an adjusted profit of 14 cents a share on revenue of $550 million vs. analyst estimates for earnings of 13 cents a share on revenue of $536.6 million.


Dow component



was the biggest name to report after the bell and its shares were tacking on 3% to $44.57 in recent trades on volume of 3.4 million.

Both the company's fiscal fourth-quarter results and outlook were ahead of analyst views. For the October-ended quarter, HP posted an adjusted profit of $1.33 a share with revenue rising 8% year-over-year to $33.3 billion. The performance compares to Wall Street's consensus estimate for earnings of $1.27 a share on revenue of $32.8 billion.

"HP proved once again that it is able to execute given its market strengths and technology leadership," said Léo Apotheker, HP president and chief executive officer, in a statement. "I have seen firsthand that we have talented people who are focused on delivering value for our customers. Our market opportunity is vast, and I am confident that we will extend our leadership into the future."

This quarterly conference call is Apotheker's first since taking over the helm from Mark Hurd and


live-blogged the proceedings


Pacific Sunwear of California

Shares of

Pacific Sunwear of California


fell in extended trading after the Anaheim, Calif.-based specialty retailer told investors it expects same-store sales for its current fiscal fourth quarter to come in between flat and down 5%.

The company also gave a wide loss range for the January-ending period, saying it could lose between 7 and 18 cents a share for the quarter on a non-GAAP

generally accepted accounting principles basis. The average estimate of analysts polled by

Thomson Reuters

is for a quarterly loss of 9 cents a share.

The stock was last quoted at $5.90, down 6%, according to

, on volume of almost 70,000. Based on a regular session close of $6.27, the shares were up about 56% so far in 2010, setting a high bar for further appreciation.

Jack in the Box

Jack in the Box


shares were pulling back late Monday after the San Diego-based restaurant operator reported a deep decline in earnings for the fourth quarter on a year-over-year basis as its performance was held back by a 4% decline in same-store sales and charges totaling $28 million on a pre-tax basis stemming from the closing of 40 company restaurants in the period.

The company attributed the weak same-store sales to continued high levels of unemployment in its major markets. For fiscal 2011 ending next October, Jack in the Box says it now expects operating earnings of 75 to 90 cents a share, including the impact of what it termed "incremental re-image incentive payments" to franchisees of 10 to 12 cents a share. The current average estimate of analysts polled by

Thomson Reuters

is for a profit of $2.03 a share in fiscal 2011.

The stock was down almost 5% to $21.51 in late trades with volume of slightly more than 20,000.


And finally, shares of



could get a boost on Tuesday from news the company is planning a stock-and-cash distribution to shareholders.

After the close, the Redwood City, Calif.-based biotech said it's planning to give its remaining roughly 17% stake in



, a unit which went public back in April, as well as $30 million in cash back to shareholders.

The company expects to undertake two separate transaction. It will first distribute 0.19 of a Codexis common share for every Maxygen share on Dec. 14 to shareholders of record on Dec. 3. Next will be a special $1 per share cash dividend to be paid on Dec. 28 to shareholders of record on Dec. 14.

"Coupled with recent share repurchases, Maxygen will have returned over $150 million in cash and property to shareholders over the last 12 months," said James Sulat, Maxygen's CEO, in a statement. "We look forward to continuing our efforts to increase value for Maxygen's shareholders in the future."

The stock rose nearly 9% to $6.80 in after-hours action, according to

, but only 8,135 shares had changed hands.


Written by Michael Baron in New York.

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Michael Baron


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