Orbitz, Exide, Ciena: After-Hours Trading

Updated from 5:51 p.m. ET to add comments from American Airlines, latest share prices.

NEW YORK ( TheStreet) -- Shares of Orbitz Worldwide ( OWW) soared in late trades on Wednesday after a state court reportedly ordered AMR Corp.'s ( AMR) American Airlines to return its flight and fare information to Orbitz's Web site.

Reuters reported an Illinois court has granted the request for injunctive relief from Travelport, which owns roughly half of Orbitz. American Airlines filed an antitrust suit against Travelport and Orbitz in mid-April, and added Sabre Holdings ( TSG) to that suit on Wednesday. The airline is alleging the defendants exert excessive control over customer access to its flight and fare information.

Orbitz shares were last quoted at $3.20, up 45%, on volume of nearly 250,000, according to Nasdaq.com. Based on a regular session close at $2.21, the stock was down nearly 60% so far in 2011.

In a statement emailed to TheStreet, an Orbitz spokesperson confirmed the court's decision, and called the decision "a win for transparency, consumer choice and for all of our mutual customers."

"Effective immediately, American Airlines full schedule of flights are ordered by the court to be made available on both Orbitz.com and Orbitz for Business," said Brian Hoyt, vice president, communications & government affairs, at Orbitz, adding later: "Orbitz continues to believe that it is in the best interests of both companies to work towards a long term agreement to continue distribution of American Airlines content to our millions of mutual customers."

In its own statement on the decision, American Airlines said it "fundamentally" disagrees with the court's order.

"We want to underscore that this is the exact opposite conclusion than that of the judge who heard the evidence," the company said. "We are evaluating our options, but in the meantime, we will, of course, comply with the judge's order."

Exide Technologies

Shares of Exide Technologies ( XIDE) fell sharply after Milton, Ga., energy technology company's latest quarterly performance missed Wall Street's expectations as it held back on price increases and forecast a year-over-year decline in profits in the current quarter.

After Wednesday's closing bell, Exide reported adjusted earnings of $12.9 million, or 15 cents a share, for its fiscal fourth quarter ended March 31 on net sales of $774.5 million, down from a year-ago equivalent profit of $37.5 million, or 49 cents a share, on sales of $714.7 million, and below the average estimate of analysts polled by Thomson Reuters for earnings of 25 cents a share in the March period.

"Fiscal fourth quarter net sales increased more than eight percent over the prior year fourth quarter due to selective market share gains and improving volume related trends in virtually all of our segments," said Jim Bolch, the company's president and CEO, in a press release. "For the most part we held pricing steady in the face of rising commodity and fuel costs with the intent of securing new volume."

Exide also said it expects profits in its current fiscal first quarter to be "slightly down" from the comparable year-ago period, citing "cost increases experienced during the last several months of fiscal 2011 coupled with delayed pricing action" for the decline.

The stock was last quoted at $8.58, down 11.6%, on volume of around 120,000, according to Nasdaq.com. Based on a regular session close at $9.71, the shares were up 5% since the start of 2011, and had more than doubled in the past year, although the 52-week high of $12.68 came back in mid-February.

Wall Street was exceedingly bullish on Exide ahead of the report with five of the six analysts covering the stock at either strong buy (3) or buy (2), and the median 12-month price target sitting at $14.50.

Among the stocks seeing significant moves in Wednesday's extended session without a clear news driver was optical network equipment maker Ciena ( CIEN), which rose 5% to $26.72 on volume of roughly 140,000, erasing its regular-session decline.

The optical networkers were especially weak on Wednesday as reports surfaced of bearish comments from Juniper Networks ( JNPR) CEO Kevin Johnson at an investor conference in New York. Juniper shares lost nearly 10% to $32.97 with volume reaching 27.3 million, nearly four times the issue's trailing three-month daily average. The stock dipped another 5 cents in late trades.

Shares of Quantum Corp. ( QTM) were quoted down as much as 14% at one point but the stock has now stabilized, last trading unchanged at $3.03.

-- 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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