Shares of Nabi Biopharmaceuticals ( NABI) shot up 13% in late trading after the company said it will continue development of its staph vaccines. In November, the company halted work on its StaphVax vaccine after a late-stage study failed to meet its goals. The company said Tuesday that an outside advisory panel found "marked differences" in the effectiveness of the vaccine used in the study compared with a previous trial. Nabi plans to seek a partner to develop its vaccines program, and is planning a proof-of-concept study for its next-generation Altastaph product. Shares rose 62 cents to $6.42 after hours Tuesday. Shares of Sigma Designs ( SIGM) fell after the company posted lower-than-expected fourth-quarter earnings. For the quarter ended Jan. 31, the maker of multimedia chips and cards earned $490,000, or 2 cents a share, reversing a year-earlier loss of $17,000, or less than 1 cent a share. Analysts polled by Thomson First Call predicted earnings of 4 cents a share. Revenue rose to $10.5 million from $8.5 million on strength in sales of products for set-top boxes and portable media players. Wall Street's forecast called for revenue of $10.4 million. Shares sank $1.77, or 11%, to $14.10 after hours. Chaparral Steel ( CHAP) shares surged in after-hours trading after the maker of structural beams reported sharply higher third-quarter income. The company earned $49.2 million, or $2.06 a share, in the February quarter, up from $14.2 million, or 62 cents a share, a year ago. Sales rose to $374.6 million from $259.1 million a year ago. "Improved global demand, industry consolidation and low cost production are the primary factors contributing to strong industry results," Chaparral said in a statement. The company said the fourth quarter should have "similarly strong" results. Shares gained $5.18, or 10.5%, to $54.52 after hours. Regis ( RGS) shares were shaved after the hair-care company cut its guidance, citing weaker-than-expected product margins and sales. For the third quarter ending March 31, the company anticipates earnings of 45 cents to 48 cents a share, down from a prior forecast of 56 cents to 60 cents a share. Regis sees revenue of $607 million, with flat same-store sales. Analysts had targeted earnings of 57 cents a share and revenue of $613 million.
For the fourth quarter, Regis forecast earnings of 58 cents to 62 cents a share and revenue of $640 million to $645 million. Same-store sales are expected to be flat to up 1.5%. Wall Street expects earnings of 70 cents a share and revenue of $645 million. That brings the company's full-year projection to $2.10 to $2.17 a share, down from its prior forecast of $2.31 to $2.37. The company's stock fell $2.93, or 7.8%, to $34.49 in late trading. AngioDynamics ( ANGO) shares gained after the medical device maker beat Wall Street's third-quarter earnings expectations and raised its full-year forecast. The company posted income of $1.9 million, or 14 cents a share, up from $1.1 million, or 9 cents a share, a year ago. Sales for the quarter ended Feb. 25 increased 28% to $19.8 million. Analysts expected the company to report earnings of 14 cents a share and revenue of $20 million. AngioDynamics raised its fiscal 2006 earnings forecast to 57 cents from 52 cents a share. The company also lifted its fiscal 2006 revenue guidance, forecasting sales growth of at least 29% to $78 million. The company previously predicted sales of at least $76 million. Analysts expect earnings of 55 cents a share and sales of $77.9 million. Shares rose $1.32, or 5%, to $27.82 in after-hours trading.