Updated from 11:47 a.m. EDTJitters that appeared when KLA-Tencor ( KLAC) warned of a possible order decline in its June quarter vaulted semiconductor-equipment giant Applied Materials ( AMAT) near the top of the Nasdaq high-volume list Thursday. Applied Materials ended the day off 60 cents, or almost 3%, to $19.73. More than 57 million shares traded hands after rival KLA said orders
Another stock that powered ahead on Thursday was Laserscope ( LSCP), which released first-quarter earnings that easily beat the Street by 5 cents a share. The company earned 10 cents a share in the most recent quarter vs. 1 cent a year ago on a 51% jump in revenue to $18.8 million. Laserscope also provided guidance for the rest of the year, saying it expects to earn 50 cents to 55 cents per share on revenue of $86 million during 2004. Analysts were looking for the company to earn 33 cents on revenue of $70 million. Laserscope closed $4.72 higher, or 17.5%, to $31.97. On the Big Board, Hexcel ( HXL), a maker of lightweight materials used for the commercial aerospace and defense industry, released earnings late Wednesday that beat estimates. The company earned 9 cents a share vs. analysts' expectations of a penny loss. Revenue jumped 15%, to $262 million. It chalked up the better-than-expected results to a strong space and defense market that continues to improve. The stock closed the day up 95 cents, or 13.3%, to $8.09. Advanced Medical Optics ( AVO) moved significantly higher on Thursday, after the company announced better-than-expected earnings and revenue. The company earned 15 cents a share in the first quarter on revenue of $150.3 million. Analysts polled by Thomson First Call were looking for the company to earn 12 cents a share on revenue of $143 million. The stock ended the day up a whopping $5.53, or 22.1%, to $30.45. To the downside, BroadVision ( BVSN), a provider of self-serve Web applications, was taken to the woodshed on Thursday after announcing lackluster first-quarter earnings and revenue. The company reported a loss of 3 cents a share on a GAAP basis and a 1-cent per-share loss on a pro forma basis. Analysts polled by Thomson First Call expected the company to earn 3 cents a share. The company came up short on the top line as well. Revenue of $20.9 million was far short of Wall Street expectations of $22.1 million. Shares traded down $1.98, or 31.5%, to $4.28 on Thursday.
Arris Group ( ARRS) was also hammered on Thursday after the company announced earnings and revenue that did not meet expectations. Arris earned 2 cents a share in the first quarter vs. expectations of 3 cents. The company's revenue, while 22% higher than the year-ago period, came in at $111.6 million, well below the estimate of $116 million that Wall Street was expecting. Shares of Arris traded down $2.24, or 25.6%, to $6.55. Maxtor ( MXO), a computer hard-drive maker, was hit hard after the company forecast lower-than-expected earnings for its second quarter. The company announced first-quarter earnings Wednesday evening that met analysts' expectations, but said on a conference call that it expected to lose 4 cents to 8 cents a share in its current second quarter. Wall Street had expected the company to earn 10 cents a share. Shares finished down 91 cents, or 12%, to $6.69. Graftech International ( GTI) traded sharply lower Thursday after the company posted lower-than-expected first-quarter earnings. The stock's fall, however, may have had more to do with what the company said about its upcoming second quarter and full-year earnings. Graftech, after coming up a penny shy in its just-ended first quarter, forecast that second-quarter earnings would come in at 12 cents to 15 cents a share. Analysts, however, were expecting the company to earn 19 cents a share. Shares traded down $3.01, or 21.1%, to $11.25.