US HOT STOCKS: Oracle Active In Late Trading

24th Jun 2010 21:57

U.S. stocks closed lower Thursday as the Dow Jones Industrial Average lost 146 points to 10153, the S&P 500 declined 18 points to 1074 and the Nasdaq Composite slid 37 points to 2217. Among the companies whose shares are actively trading in the after-hours session are Oracle Corp. (ORCL), Research In Motion Ltd. (RIMM) and Accenture PLC (ACN). Oracle's fiscal fourth-quarter profit climbed 25% as the business-software giant benefited from new revenue from its Sun Microsystems Inc. acquisition, as well as strong demand for software licenses. Shares rose 4.5% to $23.21 in after-hours trading. Research In Motion, maker of the Blackberry smartphone, shipped a record 11.2 million devices in the fiscal first quarter and reported per-share earnings that beat analysts' estimates. But revenue fell short of analyst expectations. Shares fell 4.7% to $55.75 in after-hours trading. Accenture's fiscal third-quarter profit rose 11% on strong growth in its products and financial services segments. Shares rose 2.3% to $38.41 in recent after-hours trading as the consulting and outsourcing company's results topped expectations. FSI International Inc. (FSII) swung to a fiscal third-quarter profit--its second in a row after a string of losses--on a big jump in revenue and sharply higher margins. But shares, which hit a 3 1/2-year high Monday, fell 1.1% to $4.53 in after-hours trading as the microelectronics-equipment maker's fourth-quarter earnings guidance was in line with analysts' expectations and the revenue outlook fell short of consensus. FuelCell Energy Inc. (FCEL), a maker of fuel cells for electric-power generation, announced plans to sell an undisclosed amount of stock for product development and other efforts. The sale would come despite the stock being down 60% this year. Shares fell 5.3% to $1.42 in after-hours trading. Other Stocks In Focus Bed Bath & Beyond Inc.'s (BBBY, $39.12, -$2.34, -5.64%) fiscal first-quarter profit climbed a larger-than-expected 58%, benefiting from improved demand for home furnishings and market-share gains tied to the liquidation of its biggest rival last year. The housewares retailer also raised its full-year earnings outlook, but the current-quarter outlook fell below analysts' estimates. Pfizer Inc. (PFE, $14.46, -$0.42, -2.82%) said it would suspend osteoarthritis trials of its pain drug tanezumab after a "small number" of reports that patients' ailments worsened to the point of needing joint replacement. The New York drug maker said the suspension followed a request by the Food and Drug Administration. Hasbro Inc. (HAS, $42.86, +$1.74, +4.23%), one of the world's largest toy makers, confirmed it has been approached by a private-equity firm about a buyout, but the company said its board has no interest in pursuing a transaction. Nike Inc.'s (NKE, $69.63, -$2.89, -3.99%) fiscal fourth-quarter profit climbed 53% on year-earlier restructuring charges, as well as a jump in margins and revenue, as the athletic shoe and apparel maker reported higher future orders. But the company's revenue growth missed analysts' expectations. Shares of Sotheby's (BID, $26.09, -$2.15, -7.61%) slumped Thursday as results from recent art auctions in London came in at the low end of expectations. Earlier this week, Sotheby's and rival auction house Christie's kicked off London's two-week round of summer art auctions, with Sotheby's hosting its auction Tuesday and Christie's holding its sale Wednesday. While results at both auctions were much better than the previous year, sales weren't quite as strong as some people had been projecting. Dell Inc. (DELL, $12.93, -$0.89, -6.44%) said it expects revenue growth in line with analysts' expectations for the rest of the year as businesses and governments continue a long-anticipated process of replacing aging computer systems. But at the company's analyst day, executives made cautious comments about demand in Europe, where they worry that consumer spending is weakening. Multinational defense company Allied Defense Group Inc. (ADG, $4.02, +$1.38, +52.27%) has reached a deal to sell most of its operations to Chemring Group PLC (CHG.LN) for $59.6 million, replacing a prior deal to buy the whole company. Media and marketing company Alloy Inc. (ALOY, $9.51, +$0.92, +10.71%), the outfit behind "Gossip Girl" and "The Vampire Diaries," has agreed to be bought by private-equity firm ZelnickMedia for $126.5 million. Oppenheimer cut its stock-investment rating on teen retailer American Eagle Outfitters Inc. (AEO, $12.13, -$0.58, -4.56%) to perform from outperform based on its belief that elevated second-quarter inventories may result in increased markdown pressure heading into the back-to-school season. Renewable-resources company Cadiz Inc. (CDZI, $13.12, +$1.12, +9.33%) said two Southern California water agencies have approved agreements to proceed with the Cadiz Water Conservation & Storage Project and participate in the project's environmental review. These agencies, which together serve over 650,000 customers in parts of Orange and Los Angeles Counties, have agreed to commit funds to an environmental review of the project and also grant the agencies the right to acquire a firm annual supply of water once the environmental review is complete. Solar stocks were among the weakest performers Thursday, particularly China Sunergy Co. (CSUN, $3.65, -$0.19, -4.95%) and SunPower Corp. (SPWRA, $13.38, -$0.81, -5.71%). Analysts note that it's typical for the group to underperform on weaker days, and Thursday's slump was likely more of the same. Trina Solar Ltd. (TSL, $17.61, -$0.97, -5.22%), Canadian Solar Inc. (CSIQ, $10.42, -$0.68, -6.13%) and JA Solar Holdings Co. (JASO, $4.58, -$0.19, -3.98%) also fell. Citigroup Inc. (C, $3.78, -$0.11, -2.83%) offered to buy back $2.12 billion of notes maturing within the next year in its latest effort to use its cash pile to reduce short-term debt. Darden Restaurants Inc. (DRI, $39.46, -$2.44, -5.82%) fiscal fourth-quarter earnings fell 6%, missing analysts' expectations, as the casual-dining chain's same-restaurant sales resumed their decline. The owner of Olive Garden, Red Lobster and LongHorn Steakhouse chains also boosted its quarterly dividend 28% to 32 cents. EBay Inc. (EBAY, $20.86, -$0.48, -2.25%) said it agreed to acquire RedLaser, the leading barcode-scanning iPhone application, which is used by mobile-device users for comparison shopping and product information. Terms of the deal weren't disclosed. (MORE TO FOLLOW) Dow Jones Newswires June 24, 2010 16:57 ET (20:57 GMT)