CACI ( CAI) plunged 14% in extended trading Wednesday after the information-technology company sharply cut its fiscal 2007 guidance, citing waning demand for certain contracts with the Department of Defense. It now expects to see earnings between $2.45 a share and $2.65 a share, down from the range announced in August of between $2.91 a share and $3.15 a share. Revenue will likely be between $1.88 billion and $1.95 billion. The prior sales range was between $2 billion and $2.1 billion. Analysts are looking for $3 a share on sales of $2 billion. Shares were sliding $7.90 to $47.20. Ibis Technology ( IBIS) surged after the Danvers, Mass.-based small-cap estimated it would swing to a 2006 profit of $400,000, or 4 cents a share, compared with a loss of $9.2 million, or 86 cents a share, in 2005. The semiconductor-component maker also forecasts revenue will soar to $14 million, up from $600,000 last year. Shares were adding 26 cents, or 16.5%, to $1.83. Electro Energy ( EEEI) jumped on word the specialized-battery maker will favorably restate results for the 2006 quarters ended June 30 and Sept. 30. Stockholders' equity is expected to rise about $9 million as the Danbury, Conn., company revalues its April 2006 purchase of certain Floridian battery-manufacturing assets. Shares were gaining a dime, or 6.7%, to $1.60. Apple ( AAPL) gained after the computer maker reported profits well above Wall Street expectations. Fourth-quarter income ratcheted up to $1 billion, or $1.14 a share, crushing estimates by 36 cents, according to Thomson Financial. Last year the Cupertino, Calif.-based company earned $565 million, or 65 cents a share. In addition, revenue grew to $7.11 billion from last year's $5.75 billion, handily beating the $6.42 billion consensus. Shares were trading up 98 cents, or 1%, to $93.97.
Highwood Properties ( HIW) was higher after the real estate investment trust upped its 2006 funds-from-operation outlook to a range between $2.45 a share and $2.47 a share, compared with its prior forecast between $2.42 a share and $2.44 a share -- which had, itself, topped analysts' $2.33 a share estimates. Full-year 2007 FFO should be between $2.40 a share and $2.65 a share, the Raleigh, N.C.-based REIT said, which would easily cover the $2.45 a share mean target. FFO is an important measure that analysts use in evaluating REITs. Shares were rising 87 cents, or 2.2%, to $40.86. MGI Pharma ( MOGN) rose after the Minneapolis-based company announced positive results for an advanced-phase study of its Saforis treatment, which treats a painful chemotherapy side effect called oral mucositis. Only 38.7% of the breast cancer patients taking Saforis experienced Grade 2 or higher oral mucositis as measured by the World Health Organization, compared with 49.7% of those administered a placebo. Among those suffering from the ailment, severe (Grade 3 or higher) levels were cut to 1.2% of patients treated with the drug, compared with 6.7% of those taking a placebo. Shares were climbing 49 cents, or 2.8%, to $18. NVE ( NVEC) fell after the specialized-semiconductor maker fell short of expectations. The Eden Prairie, Minn.-based company more than doubled its income to $1.1 million, or 22 cents a share, compared with $401,000, or 9 cents a share, a year ago, but the analyst who follows the company was seeking 25 cents a share. Revenue leapt 48% to $3.86 million, also barely missing the $4 million target. Shares were down $2.45, or 8.3%, to $27.10.