Palm (PALM) dropped after the mobile-device maker forecast slashed results for the quarter ended Dec. 1 due to a delay of the launch of its Treo 750 product.The Sunnyvale, Calif.-based company now expects GAAP earnings of 10 to 11 cents a share, which compares with its previous guidance of 15 to 16 cents a share. Revenue guidance was cut to a range between $390 million and $395 million from the prior outlook of $430 million to $450 million. Palm had expected the Treo 750 to ship during the current quarter, but due to certification delays it now expects the product to ship during the following quarter. Shares were down 69 cents, or 4.5%, to $14.68. Chicago-based Stratos International ( STLW) ballooned 7% in after-hours trading Monday after the company shot past Wall Street's downside expectations for the quarter ended Oct. 31 and swung to a respectable profit. The company earned $748,000, or 5 cents a share, beating the 4-cents-a-share loss predicted by analysts, according to Thomson Financial. The results compare with a loss of $434,000, or 3 cents a share, a year ago. Top-line figures increased 22% year over year, totaling $23.2 million, including $200,000 in license fees and royalties. Analysts were looking for revenue of $22 million. Shares were trading up 49 cents to $7.49. Donaldson ( DCI) shares jumped on improved results for the quarter ended Oct. 31. The Minneapolis-based maker of filtration products met Wall Street earnings projections, posting income of $36 million, or 43 cents a share, compared with $32.2 million, or 37 cents a share, a year ago. Sales for the quarter climbed 11% from a year ago to $446.4 million, topping the $442 million consensus estimate. Looking ahead, the company expects full-year fiscal 2007 earnings of $1.72 to $1.82 a share, in line with analysts' mean estimate of $1.76 a share. Shares were up $1.91, or 5.2%, to $38.91.
US Airways Group ( LCC) recouped about half of its Monday losses after it announced impressive operational performance for the traditionally busy Thanksgiving weekend. The Tempe, Az.-based carrier said it completed an average of 99.6% of its flights from Wednesday through Sunday, that 78.7% of them were on time, and that it mishandled only 6.02 bags for every 1,000 passengers. US Airways celebrated by granting each of its employees a one-time bonus of $50. This will cost the company $1.8 million, but shares were still up $1.82, or 3.1%, to $60.98. Biotech MannKind ( MNKD) fell after it announced an offer to sell 17.5 million of its shares and $100 million in senior convertible notes. The Valencia, Calif.-based company said underwriters have reserved up to half of the offering, dependent upon market conditions, for sale to Chief Executive Officer Alfred E. Mann. Shares were down 71 cents, or 4.1%, to $16.49. Cytokinetics ( CYTK) slid after the South San Francisco, Calif.-based company announced it amended its agreement with GlaxoSmithKline and will now absorb the costs associated with developing two kinesin spindle protein inhibitors. The biopharmaceutical company accordingly cut its full-year 2006 revenue guidance to a range between $3 million and $4 million. Shares were down 29 cents, or 4%, to $7.00.