BEA Systems (BEAS) was down 12.4% in preopen Island trading. After the close, the e-commerce software company posted fourth-quarter earnings of 10 cents a share excluding items, beating the Street's estimate of 9 cents and up from 5 cents a year earlier.

The company also raised its outlook for the first quarter. But the company's results apparently disappointed some analysts and investors. The stock fell sharply after-hours and the downturn continued this morning.