Tech Data ( TECD) rose 6.6% to $37.56 after the distributor of information technology products beat Wall Street's second-quarter estimates and offered an upside forecast for the current quarter. Net sales for the second quarter ended July 31 were $5.6 billion, an increase of 13.6% from $4.9 billion in the prior-year period. The Clearwater, Fla., company earned $7.2 million, or 13 cents a share, for the quarter, compared with a loss of $155.5 million and $2.81 a share for the prior-year period. Excluding items, Tech Data would have earned 50 cents in the latest quarter, 20 cents ahead of estimates. Revenue was also stronger than the $5.3 billion consensus target. For the third quarter, the company anticipates net sales of $5.75 billion to $5.90 billion, topping the $5.67 billion expectation. Blue Coat Systems ( BCSI), a maker of Web and application security appliances, surged 25.6% to $75.16 after a strong quarter and optimistic forecast. The Sunnyvale, Calif., had fiscal first-quarter revenue of $62.4 million, an increase of 71% from a year ago and ahead of the $58.8 million estimate. Blue Coat earned $2.6 million, or 14 cents a share, reversing last year's loss of $3.1 million and 22 cents a share. Before items, the company would have earned 43 cents, 8 cents better than expected. For the current quarter, Blue Coat anticipates revenue of $67 million to $70 million and adjusted earnings of 43 cents to 50 cents a share. Analysts expect revenue of $61.5 million and a profit of 37 cents. BigBand Networks ( BBND), a Redwood City, Calif., seller of video-networking platforms, jumped 12.2% to $10.18 after saying Cox Communications will use its products in multiple cable systems. Cox, the third-largest U.S. cable operator, will use BigBand's offerings to significantly expand its HDTV lineups in markets across the country.
Key Tronic ( KTCC), a provider of electronic manufacturing services, slumped following word that its fourth-quarter earnings and revenue declined year over year. The company had revenue of $49.2 million, compared with $52.5 million a year ago. Net income for the fourth quarter was $2.7 million, or 26 cents a share, which included a benefit from the sale of a New Mexico facility of roughly $1.5 million. Key Tronic earned $7.1 million, or 71 cents a share, a year earlier, including an income tax benefit of around $5 million. For the first quarter, the Spokane Valley, Wash., company is seeing slower demand from a number of customers. It expects revenue in the range of $42 million to $45 million, with earnings of 2 cents to 5 cents a share. Apple's ( AAPL) shares were higher following a report that the company has signed iPhone supply deals with some of the biggest players in Europe. The German counterpart of the Financial Times reported that Apple has signed exclusive supply contracts with Telefonica's ( TEF) U.K. unit O2, Deutsche Telekom's ( DT) T-Mobile in Germany and France Telecom's ( FTE) Orange. Apple, Cupertino, Calif., was rising 3.4% to $131.91. Google ( GOOG) rose after a report said its YouTube video-sharing site will start selling ads in videos. Google, Mountain View, Calif., was up 1.2% at $512.58.