Apollo Group, Nvidia: After-Hours Trading

NEW YORK ( TheStreet) -- Apollo Group ( APOL) was among the most active names in a very busy after-hours session on Monday after the private education company topped Wall Street expectations for its quarterly results.

The company, which operates the University of Phoenix, reported an adjusted profit of $238.9 million, or $1.63 per share, for its fiscal first quarter ended Nov. 30, on revenue of $1.33 billion, ahead of the average estimate of analysts polled by Thomson Reuters for earnings of $1.35 a share on revenue of $1.26 billion. Apollo said new degreed enrollment fell to 56,500 for the quarter from 98,100 in the same period a year earlier.

The for-profit education stocks were roiled during Monday's regular session after Strayer Education ( STRA) issued a weak student enrollment outlook. Apollo's stock fell more than 5% in regular trades but it was last quoted at $38.02, up 5.8%, on volume of 3.3 million, according to Nasdaq.com.

The news helped other stocks in the sector bounce as Corinthian Colleges ( COCO) rose 2.8% to $4.71 on volume of around 520,000; Career Education Corp. ( CECO) advanced 2.6% to $19.10 on volume of 13,000; and ITT Educational Services ( ESI) gained 2.3% to $57.80 on volume of 18,000.

St. Joe Co.

Shares of St. Joe Co. ( JOE) fell sharply in late trades after the Florida-based real estate developer disclosed it's the subject of an "informal inquiry" by the Securities and Exchange Commission.

In a Form 8-K filing with the SEC, the company said the regulatory agency is looking into its policies and practices "concerning impairment of investment in real estate assets." St. Joe is cooperating with the probe.

The stock was last quoted at $20.83, down 9.7%, on volume of around 65,000. Based on a regular session close at $23.07, the shares had fallen nearly 40% since hitting a 52-week high of $37.44 in late April.

Nvidia

Nvidia ( NVDA) was a bright spot late on news that it's signed a cross-licensing agreement with Intel ( INTC) that settles the patent dispute between the companies and calls for Intel to pay Nvidia licensing fees totaling $1.5 billion over six years.

The stock was last quoted at $21.69, up 5.1%, on volume of 3.3 million, according to Nasdaq.com. The shares had rallied almost 4% in the regular session with volume running above 40 million, well beyond the issue's trailing three-month daily average 18.1 million.

Wall Street is pretty split on Nvidia these days after the stock rose 7% in 2010. Of the 30 analysts covering the shares, 14 are at hold, 7 are at strong buy, 6 are at buy, and 3 are at underperform. There is a feeling, however, that the stock may have gotten ahead of itself as the median 12-month price target sits at $14.75.

At current levels, Nvidia's stock is trading at a price-to-earnings multiple of 56X on a trailing basis and roughly 28X on a forward basis. The company is slated to report its results for the fiscal fourth quarter ended in December on Feb. 18. The current consensus estimate is for a profit of 16 cents a share in the three-month period on revenue of $878.9 million.

Stryker

Stryker ( SYK) rose in extended action after the Kalamazoo, Mich.-based maker of orthopedic and surgical products gave an outlook for the full year that's slightly ahead of Wall Street's consensus estimate.

The company said it now expects adjusted earnings of $3.31 to $3.33 a share for fiscal 2010 vs. the average analysts' view of $3.29 a share. Stryker also forecast a profit of $3.65 to $3.73 a share on an adjusted basis, compared to the current consensus of $3.67 a share.

"Despite ongoing economic uncertainty and a slowdown in elective surgeries, we delivered sales growth at the high end of the range established at the start of 2010," said Stephen MacMillan, the company's chairman, president and CEO, in a statement. "Additionally, we achieved earnings growth above the high end of the stated range while making significant investments in our quality and compliance systems, as well as sales, marketing and R&D."

The stock was last quoted at $56.44, up 3.2%, on volume of 85,000. Based on a regular session close at $54.70, the shares were down around 2% over the past 52 weeks. Of the 32 analysts covering the stock, 8 are at strong buy, 8 are at buy and 16 are at hold.

Alcoa, Advanced Micro Devices

Big-cap names trading heavily after the bell included Dow component Alcoa ( AA) and chip maker Advanced Micro Devices ( AMD).

Alcoa reported its fourth-quarter results after the close becoming the first Dow component to open up its books.

The company beat Wall Street's expectations on the bottom line, posting earnings of 21 cents a share, 2 cents ahead of the consensus view, but it fell short on revenue with a total of $5.65 billion vs. the analysts' view of $5.71 billion. The stock was off 1.6% to $16.23 on volume of 3.3 million, according to Nasdaq.com.

Meantime, shares of Advanced Micro Devices fell 4.2% to $8.80 after the company said CEO Dirk Meyer resigned by mutual agreement with the board.

The company named its CFO, Thomas Seifert, to serve as CEO on an interim basis while it conducts a search for Meyer's replacement.

-- Written by Michael Baron in New York.

>To contact the writer of this article, click here: Michael Baron.

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Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.

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