Shares of ( BIDU) sank in late trading Wednesday after the Chinese search engine's better-than-expected second-quarter results failed to impress investors. The Beijing-based company earned $7.3 million, or 21 cents a share, on revenue of $24 million. Excluding costs such as stock-based compensation, the profit was 26 cents. Those results beat analysts' forecasts for earnings of 8 cents a share and a top line of $23.3 million, according to Thomson First Call.

For the third quarter, Baidu projected revenue of $30 million to $31 million, above analysts' target of $28.9 million. The projection implies sequential revenue growth of 29%, a slowdown from the 41% sequential rise in the latest quarter. Baidu shares tumbled $13.02, or 14%, to $78.95 in after-hours trading.

Shares of Akamai Technologies ( AKAM) jumped after the Web-services company posted second-quarter results that exceeded estimates. The company posted earnings of $11.3 million, or 7 cents a share, down from $15.9 million, or 11 cents a share, a year earlier. Excluding certain items, earnings were $35.8 million, or 20 cents a share, beating analysts' mean estimate by 2 cents. Revenue jumped 56% tom $100.6 million, easily topping Wall Street's forecast of $94.7 million.

"We had an exceptionally strong quarter, exceeding our growth expectations," said Paul Sagan, president and CEO, in the earnings press release. "We experienced robust demand for our services across many verticals, with heavier than expected customer usage resulting in part from the explosion in digital media consumption and the continued proliferation of broadband around the world." Akamai shares surged $4.67, or 16%, to $34.67.

MEMC Electronic Materials ( WFR) shares moved higher after the wafer maker posted better-than-expected second-quarter results and raised its full-year forecast. MEMC's second-quarter profit more than doubled to $81.9 million, or 36 cents a share, from $40.5 million, or 18 cents a share, a year earlier. Excluding certain items, earnings were 45 cents a share. Analysts, on average, predicted adjusted earnings of 42 cents a share. MEMC's sales jumped to $370.5 million from $272.3 million, topping Wall Street's target of $361 million.

MEMC, noting a "healthy" pricing environment and a strong solar market, now sees 2006 adjusted earnings of $1.80 to $2 a share. The company's earlier guidance called for earnings of $1.40 to $1.70 a share. The company now forecasts full-year revenue of $1.5 billion, compared with its earlier target of $1.3 billion to $1.5 billion. Analysts had forecast full-year earnings of $1.73 a share and revenue of $1.49 billion. MEMC shares jumped $2.82, or 9.8%, to $31.71 after hours.

Amkor Technology ( AMKR) shares tumbled after the company's third-quarter guidance fell short of expectations. The company said it swung to a second-quarter profit of $24.1 million, or 13 cents a share, from a loss of $52.4 million, or 30 cents a share, a year earlier. The latest quarter included about 14 cents a share in charges related to refinancing. Analysts expected earnings of 27 cents a share. Amkor's sales rose to $686.6 million from $489.3 million, topping analysts' forecast of $666.5 million.

For the third quarter, the semiconductor test and assembly company forecast earnings of 23 cents to 27 cents a share, below analysts' target of 28 cents. Amkor expects sales to be flat to up 2% from the second quarter, implying a top line of $686.6 million to $700.3 million. Wall Street had forecast sales of $691.2 million. Amkor also said its board has formed a board committee to conduct a voluntary review its historical stock-option practices. Shares fell 87 cents, or 12%, to $6.64 after hours.

Shares of Manitowoc ( MTW) fell after the maker of heavy-lifting equipment reported mixed second-quarter results. The company reported earnings of $42.2 million, or 67 cents a share, up from $24.1 million, or 39 cents a share, a year earlier. Excluding certain items, earnings were 82 cents a share, well above Wall Street's forecast of 76 cents. Sales rose 27% to $746.2 million from $589.6 million, but missed analysts' target of $757.3 million.

Manitowoc backed its 2006 forecast for earnings of $2.50 to $2.60 a share, before items. Analysts predict full-year earnings of $2.50 a share. After hours, Manitowoc's stock lost $2.25, or 6%, to $35.50.