Oracle, Nike: After-Hours Trading

NEW YORK ( TheStreet) -- Shares of Oracle ( ORCL) fell in late trades on Tuesday after the tech bellwether missed Wall Street's expectations for its latest quarterly results.

The Redwood Shores, Calif.-based company experienced a 10% year-over-year decline in hardware systems revenue in the latest quarter as well as flat services revenue for its fiscal second quarter ended Nov. 30.

Overall, Oracle posted non-GAAP earnings of $2.8 billion, or 54 cents a share, in the latest quarter with revenue rising 2% from last year to $8.8 billion. The average estimate of analysts polled by Thomson Reuters was for earnings of 57 cents a share in the November quarter on revenue of $9.23 billion.

The stock was last quoted at $26.48, down 9.2%, on after-hours volume of 4.6 million, according to Nasdaq.com.

Oracle also said its board has approved an additional $5 billion buyback authorization.

Nike

Shares of Nike ( NKE) edged up in the extended session after the maker of athletic footwear and apparel delivered a solid beat for its second-quarter results and said futures orders were up 13%.

The Beaverton, Ore.-based company said strong demand for its brands with revenue up 18% year-over-year and lower selling, general and administrative expenses for its above-consensus performance. These factors offset a decline in gross margins to 42.7% in the latest quarter from 45.3% last year because of higher product costs.

Nike reported earnings of $469 million, or $1 per share, for the three months ended Nov. 30 on revenue of 5.73 billion. That compares to the average estimate of analysts polled by Thomson Reuters for a profit of 97 cents a share in the November-ended period on revenue of $5.63 billion.

The stock was last quoted at $94.67, up 1.1%, on late volume of nearly 300,000, according to Nasdaq.com.

Nike said its inventories swelled 35% year-over-year to $3.2 billion, and that worldwide futures orders of its products for deliver in the December through April 2012 timeframe stood at $8.9 billion, up 13% from last year.

Jabil Circuit

Shares of Jabil Circuit ( JBL) was lower in late trades after the provider of electronics contract manufacturing services posted an in-line profit for its fiscal first quarter and gave an outlook with significant downside to the current consensus view for its second quarter.

The company posted core earnings of $136.2 million, or 65 cents a share, for its fiscal first quarter on revenue of $4.33 billion vs. the average estimate of analysts polled by Thomson Reuters for earnings of 65 cents a share on revenue of $4.41 billion.

For its fiscal second quarter ending in February, Jabil gave a wide range for its core earnings of 52 to 62 cents a share, surrounding the analysts' view of 59 cents a share.

The stock was down nearly 4% to $19.17 on after-hours volume of more than 140,000.

-- Written by Michael Baron in New York.

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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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