Molycorp, STEC, Zagg: After-Hours Trading

NEW YORK ( TheStreet) -- Shares of Molycorp ( MCP) fell in extended trades on Tuesday after the Greenwood Village, Colo.-based rare earth materials producer reported a surprise first-quarter loss.

The company posted a net loss of $909,000, or 3 cents a share, for the three months ended March 31 on revenue of $26.3 million. Excluding stock-based compensation expense, Molycorp said it delivered an adjusted profit of $780,000, or a penny per share, in the latest quarter.

The average estimate of analysts polled by Thomson Reuters was for earnings of 8 cents a share in the quarter on revenue of $41.7 million.

The stock was last quoted at $63.08, down 5.1%, on late volume of roughly 975,000, according to Nasdaq.com. The shares were weak ahead of the report, dropping 7% to close the regular session at $66.47.

Still, at that level, the stock was up nearly 44% since the start of 2011, hitting a 52-week high of $79.16 on May 3.

Mark Smith, the company's president and CEO, offered a bullish assessment of the performance.

"We were very pleased to see both sales volume and revenue increase for Molycorp in the first quarter of 2011, as this quarter is typically characterized by slow buying and depressed activity in China due to its New Year celebrations," said Smith in a statement.

He continued: "In spite of this, and in spite of the natural catastrophes experienced by Japan in the first quarter, we continued to see strong global demand for our products. Market prices of REOs rare earth oxides rose significantly in the first quarter, helping to boost our price realizations."

Walt Disney

Shares of Walt Disney ( DIS) slumped after the Dow component's fiscal second-quarter results came in well short of Wall Street's consensus expectations.

The media and entertainment conglomerate reported a profit of $942 million, or 49 cents a share, on revenue of $9.08 billion for the three months ended on April 2, down slightly from year-ago earnings of $953 million, or 48 cents a share, on revenue of $8.58 billion.

The per share profit was more than 13% below the average estimate of analysts polled by Thomson Reuters for a profit of 57 cents a share on revenue of $9.12 billion in the latest quarter

The stock was last quoted at $42.67, down 2.8%, on volume of 1.64 million. Disney shares had tacked on 1.9% in Tuesday's regular session, and were up roughly 15% year-to-date before the pullback in late trades. The stock's 52-week high of $44.34 dates back to March 4.

STEC

STEC Inc. ( STEC) was a big decliner late Tuesday after the Santa Ana, Calif.-based maker of solid state drive products topped Wall Street's expectations for its fiscal first-quarter results but gave a weak outlook for the current period because of the impact of Japan's earthquake and tsunami on its customers.

The company said it now expects adjusted earnings of 21 to 30 cents a share in its fiscal second quarter ending in June on revenue ranging from $80 million to $90 million. The current average analysts' estimate is for a profit of 31 cents a share in the June period on revenue of $93.7 million.

"While the recent earthquake and tsunami in Japan have not significantly impacted our access to Flash memory or other key components, some of our customers have experienced supply chain disruptions," said Manouch Moshayedi, the company's chairman and CEO, in a press release. "Consequently, we anticipate that some of our customers whose supply chains have significant exposure to the most impacted areas of Japan may postpone or reduce their orders for our products in the second quarter of 2011."

The stock last changed hands at $17.65, down 12.1%, on volume of nearly 1 million. Based on Tuesday's regular session close at $20.07, the shares were up more than 13% year-to-date, and nearly 50% over the past year, although the 52-week high of $25.44 dates back to Feb. 14.

Ener1

Shares of Ener1 ( HEV) lost ground in late trades after the lithium ion battery maker reported a widening first-quarter loss, weighed down by a $59.4 million impairment charge related to the stalled operations of its electric car market partner, Norway's Think Holdings.

The company lost $84.7 million, or 51 cents a share, for the three months ended March 31, including both the impairment charge and a $13.9 million loss related to a writedown in the value of a financial instrument. These items reduced Ener1's results by 44 cents in the latest quarter.

The average estimate of analysts polled by Thomson Reuters was for a loss of 7 cents a share in the March quarter. In the same period a year earlier, the company lost $15.3 million, or 13 cents a share. Revenue of $23 million was 15% below the consensus view of $27 million.

The stock sank to $2.22, a decline of 9.4%, on volume of 30,000 in the extended session.

Other stocks seeing trading interest in the after-hours session included Rovi ( ROVI), rising more than 12% to $55.98 on volume of around 280,000 after the digital entertainment technology company beat Wall Street's profit view for its first-quarter results by a dime and lifted its pro forma earnings outlook for the full year; ZAGG ( ZAGG), which gained 6.5% to $10.17 on volume of roughly 145,000 after Salt Lake City-based maker of smartphone and tablet accessories bumped its revenue view for 2011 up to a range of $100 million to $105 million from a prior projection of $95 million to $100 million; and Conceptus ( CPTS), which lost 15% to $12.85 on volume of around 100,000 after the birth control technology developer fell short of revenue in its fiscal first quarter and cited macroeconomic conditions and "challenging" insurance trends.

-- 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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