US HOT STOCKS: Cephalon Active In Late Trading

27th Jul 2010 21:59

U.S. stocks closed mixed Tuesday, as the Dow Jones Industrial Average rose 12 points to 10538, but the S&P 500 lost 1 point to 1114 and the Nasdaq Composite declined 8 points to 2288. Among the companies whose shares are actively trading in the after-hours session are Cephalon Inc. (CEPH), Buffalo Wild Wings Inc. (BWLD) and DreamWorks Animation SKG Inc. (DWA). Cephalon's second-quarter profit rose 5.1% despite sharply higher charges, while the biopharmaceutical company had higher sales of central-nervous-system and oncology drugs. Results topped expectations, but it issued a weak current-quarter sales view, sending its stock down 2.5% to $61.30 in after-hours trading. Buffalo Wild Wings said its fiscal 2010 earnings per share growth goal "is achievable given the recent improvement in same-store sales and wing costs." The language there is key, as last quarter, the restaurant company noted that the target "may be achievable." Shares rose 6.6% to $43.55 in recent after-hours trading as its second-quarter earnings beat expectations and total sales also looked better. DreamWorks Animation's second-quarter profit slid 6.2% on lower margins, although the computer-animation studio posted revenue gains and said it is on track for its biggest year at the box office and the biggest year for any computer-generated animation studio. The results topped Wall Street's expectations. Shares rose 1.8% after hours to $32.65. Panera Bread Co.'s (PNRA) second-quarter earnings jumped 33% on sharp margin and sales gains as the bakery-cafe chain continued to lure diners despite the belt-tightening that's strapped much of the restaurant industry. But shares fell 0.6% to $78.13 after hours as the company's third-quarter profit guidance came in below expectations. Regular-Session Movers U.S. Steel Corp. (X, $45.76, -$3.13, -6.40%) posted a second-quarter loss on currency impacts while shipments surged in its flat-rolled products and revenue more than doubled. Still the steel producer warned that the "gradual and uneven" recovery in the U.S. and Europe would drag its third-quarter operating results below the second quarter's. In the important flat-rolled segment, volumes are expected to slide, costs to rise and prices will remain flat. Lexmark International Inc. (LXK, $37.76, +$2.95, +8.47%) second-quarter earnings shot higher as the printer company posted fewer charges and demand continued to improve from the prior year's weak levels. Switzerland's largest bank, UBS AG (UBS, $16.50, +$1.35, +8.91%), showed fresh signs that a turnaround plan is working as it reported that its investment bank held up well during a choppy second quarter and the outflow of money from its huge private bank slowed further. DuPont Co.'s (DD, $40.38, +$1.39, +3.57%) second-quarter profit almost tripled amid prior-year charges while revenue increased more than expected on better volume and higher selling prices. Germany's Deutsche Bank AG (DB, $68.06, +$1.88, +2.84%) reported a 6.2% increase in second-quarter profit despite a significant decline in investment banking revenue as the sovereign debt crisis roiled markets throughout the spring. Zoran Corp.'s (ZRAN, $8.99, -$0.78, -7.98%) second-quarter loss narrowed on lower expenses, but the company reduced its outlook for digital televisions for the rest of the year on customer delays and customer share loss. It predicted a third-quarter loss and revenue that was worse than expected. AK Steel Holding Corp. (AKS, $14.49, -$0.71, -4.67%) swung to a better-than-expected second-quarter profit on much-improved margin. Revenue more than doubled but came in short of estimates. Bemis Co.'s (BMS, $29.94, -$0.95, -3.08%) second-quarter earnings rose 24% as the food-and-beverage packaging company saw strong sales growth and increased volume, aided by its March acquisition of Alcan Packaging Food Americas from Rio Tinto PLC (RTP, $52.39, +$0.42, +0.81%) in a $1.2 billion deal. Still, the top end of the company's current-quarter view merely matched Street expectations. Carlisle Cos. (CSL, $34.12, -$5.03, -12.85%) topped analysts' expectations for earnings and revenue in its second quarter, but margins were pressured by high raw material costs and weaker selling prices. FBR analysts pointed to Carlisle's cash burn during the quarter as a concern for the multi-industry manufacturing company, which makes products ranging from cookware to dump-truck bodies. (MORE TO FOLLOW) Dow Jones Newswires July 27, 2010 16:59 ET (20:59 GMT)