Shares of Myogen ( MYOG) sank 11% in late trading Monday after the biopharmaceutical company reported lower-than-expected full-year revenue and announced a marketing deal with British pharmaceutical company GlaxoSmithKline ( GSK). For 2005, Myogen posted a loss of $63 million, or $1.68 a share, as compared to a loss of $57.7 million, or $2 a share, a year earlier. Revenue totaled $7 million, compared with $6.6 million in 2004. Analysts polled by Thomson First Call were looking for a smaller loss of $1.72 a share, with revenue of $9.9 million. Myogen announced a distribution deal in which Glaxo received the rights to market ambrisentan, Myogen's pulmonary arterial hypertension drug, outside the U.S. The drug is still in late-stage clinical testing. In turn, Myogen will be responsible for the marketing and distribution of GlaxoSmithKline's Flolan in the United States. Shares of Myogen fell $4.47 to $36.84 in after-hours trading. Texas Instruments ( TXN) slipped after the Dallas-based chipmaker narrowed its first-quarter forecast. The company said it expects to earn between 31 cents and 33 cents a share in its first quarter, compared with its previous guidance of 29 cents to 33 cents. Revenue for the quarter is targeted at $3.22 billion and $3.35 billion, narrower than TI's initial forecast of $3.11 billion to $3.38 billion. The midpoint of the new guidance is $3.28 billion, compared with the previous $3.24 billion midpoint. Analysts' average estimate calls for revenue of $3.27 billion and EPS of 32 cents, according to First Call. Shares fell 97 cents, or 3%, to $31.36 in after-hours trading. Semtech ( SMTC) shares rose modestly after the company's fourth-quarter results narrowly beat analyst estimates. The chipmaker's earnings for the quarter ended Jan. 31 rose to $13.3 million, or 18 cents a share, from $12.1 million, or 16 cents a share, a year earlier. Sales rose to $64.4 million from $58.4 million. Analysts, on average, projected earnings of 17 cents a share and sales of $64.3 million.
For the first quarter, Semtech expects earnings of 18 cents to 19 cents a share, before stock-options expenses and other items. The company sees sequential sales growth of 1% to 3%, implying a top line of $65 million to $66.3 million. Wall Street targets first-quarter earnings of 17 cents a share and sales of $64.6 million. Semtech shares rose 18 cents to $19.70 in after-hours trading. Shares of NovAtel ( NGPS) gained after the Calgary-based maker of GPS products beat Wall Street's fourth-quarter earnings expectations. The company posted income of $4.3 million, or 49 cents a share, compared with $4.7 million, or 54 cents a share, a year earlier. Revenue rose to $13.6 million from $11.6 million a year ago. Two analysts had an average estimate for earnings of 33 cents a share and revenue of $13.9 million. NovAtel advanced $1.58, or 4.6%, to $35.75 in after-hours trading. Shares of CMGI ( CMGI) fell in late trading after the supply-chain management company said it swung to a second-quarter loss. For the quarter ended Jan. 31, the company posted a loss of $6.3 million, or 2 cents a share, compared with income of $7.2 million, or 2 cents a share, a year ago. Revenue rose to $318.8 million from $292 million a year ago. Excluding various charges, CMGI posted earnings of $8.8 million for the second quarter, down from $17.3 million a year earlier. Shares fell 11 cents, or 7.2%, to $1.42 in late trading.