Updated to include news on Cephalon and Universal Travel Group.



) -- Shares of

Tibco Software


tumbled in extended trading on Tuesday after the Palo Alto, Calif.-based cloud computing application maker edged past Wall Street's expectations for its fiscal first-quarter results.

The company reported non-GAAP earnings of $27.3 million, or 16 cents a share, for the three months ended Feb. 27 on revenue of $185.3 million. The average estimate of analysts polled by

Thomson Reuters

was for a profit of 15 cents a share on revenue of $182.7 million in the February period. While Tibco's performance was ahead of the consensus view, the magnitude of the beat was only 5% vs. a 16% average beat in the previous eight quarters.

The stock was last quoted at $24.80, down 5.6%, on volume of 1.1 million, according to


. Based on a regular session close at $26.27, the shares have appreciated more than 32% since the start of 2011 and almost 140% in the past year, hitting a 52-week high of $26.77 on March 25.

"Our business continues to gain steam, as we demonstrated again by delivering the strongest license growth for a Q1 in ten years and a 33% increase in non-GAAP EPS," said Vivek Ranadivé, the company's chairman and CEO, in a statement. "The push for mobility, the emergence of the cloud, and the demand for social collaboration are powerful trends that are generating massive streams of real-time information and creating new possibilities in a connected world."

Wall Street was already showing some skepticism toward Tibco ahead of the report with seven of the 11 analysts covering the stock at either hold (6) or underperform (1).


Shares of



rose in extended action after Irvine, Calif.-based company said it's received three patents related to "hypercloud memory" technology.

The company said the U.S. Patent and Trademark Office issued patents for a "Memory Module Decoder" and a "Circuit Providing Load Isolation and Memory Domain Translation for Memory Module." The third patent is a continuation of the patent related to the circuit, Netlist said.

"These three new patents reinforce Netlist's intellectual property position related to our high performance, high density HyperCloud memory modules and chipset technology," said C.K. Hong, the company's president and CEO, in a statement. "This achievement strengthens our leadership position in memory technologies that increase capacity and performance in servers."

The stock jumped more than 11.6% to $2.70 on volume of around 180,000, according to


. Based on Tuesday's regular session close at $2.42, the shares are down more than 36% in the past year.

Other stocks making big moves in late trades included


( CEPH), which soared more than 20% after the bell following news the company is the target of a

hostile acquisition bid


Valeant Pharmaceuticals


; and

Universal Travel Group

( UTA), which fell 20% to $4.29 on volume of around 60,000 after the China-based travel services provider postponed its fiscal 2010 conference call and the release of its financial statements from Wednesday to an unspecified date later in 2011.

"The postponement was not due to any accounting irregularities and will allow the Company and its independent auditors to complete their work on the financial statements and audit," Universal Travel Group said in its statement.


Written by Michael Baron in New York.

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Michael Baron


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