Updated from 4:39 p.m. ET to include latest share prices, additional information on Align Technology, Mellanox and Stryker. NEW YORK ( TheStreet) -- Align Technology was under heavy selling pressure late Wednesday after the maker of the Invisalign teeth-straightening product missed earnings expectations and announced the discontinuation of an important distribution relationship in North America and Europe. The stock was off 21% to $28.31 on volume of more than 2 million after the company posted non-GAAP earnings of 28 cents a share for the third quarter on revenue of $136.4 million vs. the consensus view for a profit of 29 cents a share on revenue of $140.1 million. In addition, the company announced a mutual agreement with Straumann to terminate distribution agreements for iTero intra-oral scanners in North America and Europe, effective as of Dec. 31. "Despite collective efforts, the two companies have concluded that their current collaboration for distributing iTero scanners does not meet their strategic or financial requirements in the present economic environment," Align said in a press release. Align also gave a weak outlook for the fourth quarter, forecasting non-GAAP earnings of 21 to 23 cents a share on revenue of $$134.2 million to $137.8 million. The current consensus estimate is calling for earnings of 31 cents a share on revenue of $147.5 million. "Q3 is historically a slower period for North American GP Dentists and International doctors due to summer vacations," said Thomas Prescott, Align's president and CEO. "This year summer seasonality was more pronounced in North America and as a result, we did not see the expected ramp in Invisalign cases for GP Dentists and Orthodontists. This softness has continued through October and is reflected in our Q4 guidance, which despite that slowdown, still projects a healthy annual growth rate for the company overall, with volume growth of at least 16%." Shares of eBay ( EBAY) were dipping in late trades Wednesday after the company delivered a mixed quarter with earnings a penny ahead of the consensus view but revenue coming in a bit light. The San Jose, Calif.-based online auctioneer reported a third-quarter adjusted profit of $718 million, or 55 cents a share, on revenue of $3.40 billion, up from year-ago equivalent earnings of $628 million, or 48 cents a share, on revenue of $2.97 billion. The average estimate of analysts polled by Thomson Reuters was for a profit of 54 cents a share in the September-ended quarter on revenue of $3.41 billion. The company highlighted the performance of its PayPal unit, saying revenue rose 23% year-over-year to $1.37 billion, net total payment volume jumped 20% to $35.2 billion, and that the electronic payments service finished the quarter with 117.4 million active registered accounts, up 11% from last year. For the fourth quarter, eBay forecast non-GAAP earnings of 66 to 69 cents a share on revenue ranging from $3.85 billion to $4 billion vs. the current consensus view for a profit of 68 cents a share on revenue of $3.94 billion. The stock was last quoted at $48.01, down 0.4%, on after-hours volume of more than 4.2 million, according to Nasdaq.com. Year-to-date, shares are up more than 55%, hitting a 52-week high of $50.65 on Sept. 14.