Updated from 5:18 p.m. ET for latest share prices, additional information on Opnext and Ista Pharmaceuticals
NEW YORK (
) -- Shares of
turned lower in late trades on Monday despite the for-profit education company trouncing Wall Street expectations for its fiscal second-quarter results.
The Phoenix-based company reported earnings from continuing operations excluding items of $73.8 million, or 58 cents a share, for the three months ended Feb. 29 on revenue of $969.6 million. The average estimate of analysts polled by
was for a profit of 37 cents a share in the quarter on revenue of $933.3 million.
Apollo, which operates the University of Phoenix, said new degreed enrollment was up 1.0% year-over-year, and that total enrollment stood at 355,800 at quarter's end.
The stock was last quoted at $41.50, down 4%, on volume of nearly 600,000, according to
, and it has ranged as high as $47.06 and as low as $40.81. Based on Monday's regular-session close at $43.20, the shares were down more than 20% so far in 2012.
Apollo also forecast operating income excluding items of $625 million to $725 million for fiscal 2012 on revenue ranging from $4.1 billion to $4.3 billion.
Check out TheStreet's quote page for Apollo Group for year-to-date share performance, analyst ratings, earnings estimates and much more.
fell in the extended session after the company disclosed mixed results of a phase II trial of the safety and efficacy of its proposed treatment for tardive dyskinesia.
The San Diego-based company said that "data from one site was removed due to the inconsistent and incorrect application of the efficacy assessment protocol."
"This Phase II trial was extremely informative. NBI-98854 displayed the efficacy and safety data we expected to see in both the 12.5mg and 50mg doses," said Chris O'Brien, the company's chief medical officer. "While we had data inconsistencies at one site, this study has provided us with the necessary information and confidence to move forward into the larger Phase IIb trials as planned."
The stock was last quoted at $8.11, down 9.8%, on volume of 135,000, according to
When the data from the site in question was included, Neurocrine said that the trial didn't meet a pre-specified endpoint of reducing AIMS
abnormal involuntary movement scale scores during active treatment periods.
News of two acquisitions also broke after the close.
agreed to acquire
( OPXT) for stock. The deal calls for Oclaro to swap 0.42 of a share for each Opnext share.
Based on Oclaro's closing price of $4.66 on Monday, the transaction values Opnext shares at $1.96, a premium of more than 70% from their closing price of $1.13. Opnext shares were last quoted at $1.77, up 57%, on volume of more than 180,000, according to
. Oclaro shares were unchanged in late trades.
Also, shares of
( ISTA) jumped after the company agreed to be acquired by
Bausch + Lomb
for $500 million in cash. The deal values Ista shares at $9.10 each, a premium of 8.6% to Monday's close at $8.38. Ista shares last changed hands at $9.03, up 7.8%, on volume of 230,000.
Written by Michael Baron in New York.
>To contact the writer of this article, click here:
Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.