The top after-market NASDAQ Stock Market gainers are: CDC Corp., Nanometrics, Intel, Yahoo!, and Hologic. The top after-market NASDAQ Stock Market losers are: Cree, TriMas, Ceradyne, ViroPharma, and Veeco Instruments.
CDC Corp. (CHINA) stock jumped 6.25 percent to $3.40 in the after-market trading.
Nanometrics Inc. (NANO) stock grew 4.92 percent to $16 in the after-market trading.
Intel Corp. (INTC) stock grew 4.58 percent to $20.77 in the after-market trading. Adjusted profit for the first quarter was $3.3 billion or 59 cents a share, up from $2.5 billion or 43 cents a share last year. Revenue rose 25 percent to $12.9 billion, while adjusted revenue was $12.88 billion. Analysts had expected profit of 46 cents a share on revenue of $11.6 billion. Intel's results came as big relief for investors after chipmaker Texas Instruments Inc.'s (TXN) disappointing results yesterday.
Intel expects second quarter revenue of $12.8 billion, plus or minus $500 million, and adjusted revenue of $12.85 billion, plus or minus $500 million. Street analysts predict revenue of $11.87 billion. GAAP gross margin for the second quarter is expected to be 64 percent, plus or minus a couple percentage points, while adjusted gross margin is expected to be 62 percent plus or minus a couple percentage points. For the full year 2011, the company still expects gross margin of 63 percent, plus or minus a few percentage points, while adjusted gross margin is expected to be 64 percent plus or minus a few points.
Worldwide semiconductor revenues in 2010 rose more than 24 percent to $282 billion, with strong industry recovery across all market verticals, regions, and device categories, according to the latest version of the International Data Corp. Semiconductor Application Forecaster. Intel was the overall market leader, followed by Samsung. IDC expects 6 percent to 8 percent revenue growth in 2011.
Yahoo! Inc. (YHOO) stock gained 3.47 percent to $16.68 in the after-market trading, as its first quarter earnings exceeded Street view. Adjusted profit was $249 million or 19 cents a share, up from $217.1 million or 15 cents a share last year. Revenue fell 24 percent to $1.21 billion, while revenue excluding traffic acquisition costs declined 6 percent to $1.06 billion. Adjusted revenue excluding traffic acquisition costs was flat for the first quarter of 2011. Analysts had expected profit of 16 cents a share on revenue of $1.06 billion.
Yahoo! expects second quarter revenue of $1.23 billion to $1.29 billion and revenue excluding traffic acquisition costs of $1.075 billion to $1.125 billion, while Street analysts predict $1.10 billion. Income from operations are expected to be $160 million to $190 million. Based on the terms of the Search Agreement with Microsoft Corp. (MSFT), Microsoft retains a revenue share of 12 percent of the net (after traffic acquisition costs) search revenue generated on Yahoo! Properties and Affiliate sites in transitioned markets. Microsoft's revenue share in the second quarter of 2011 is expected to be about $35 million.
Hologic Inc. (HOLX) stock increased 3.10 percent to $22.25 in the after-market trading.
Cree Inc. (CREE) stock fell 5.17 percent to $38.70 in the after-market trading, as it guided fourth quarter earnings below Street view. The company expects fourth quarter adjusted earnings of 25 cents to 31 cents a share and revenue of $225 million to $245 million, while Street predicts profit of 36 cents a share on revenue of $243.79 million.
Cree reported third quarter adjusted earnings of $30.1 million or 27 cents a share, down from $51.3 million or 47 cents a share last year. Revenue fell to $219.2 million from $234.1 million. Analysts had expected profit of 29 cents a share on revenue of $217.43 million. The results reflect both our continued success in LED lighting and the challenges of managing the LED chip and components business through a business cycle with short lead-times and low order visibility, said Chuck Swoboda, chief executive officer of Cree.
TriMas Corp. (TRS) stock tumbled 3.27 percent to $20.71 in the after-market trading. The company said Heartland Industrial Associates, L.L.C., has agreed to sell 4 million shares of its common stock to Deutsche Bank Securities Inc. as the sole underwriter in the registered public offering of those shares. All net proceeds from the sale of the common stock will be received by the selling stockholder. TriMas will not receive any of the proceeds. The total number of outstanding shares of TriMas common stock will not change as a result of this offering.
Separately, TriMas said it expects first quarter earnings from continuing operations of 32 cents to 35 cents a share, compared to 17 cents a share last year. The company expects sales to grow about 22 percent to 23 percent from last year for a total of $268 million to $271 million. Street analysts predict profit of 28 cents a share on revenue of $233.11 million.
In 2011, the company continues to expect year-over-year sales and earnings growth. In February, the company had expected 2011 sales to grow 6 percent to 9 percent, compared to 2010. The company also expected 2011 earnings from continuing operations of $1.40 and $1.50 a share, excluding any future events that may be considered special items. Analysts expect earnings of $1.46 a share on revenues of $1.01 billion for fiscal 2011.
Ceradyne Inc. (CRDN) stock slid 2.97 percent to $43.30 in the after-market trading.
ViroPharma Inc. (VPHM) stock declined 2.41 percent to $19 in the after-market trading.
Veeco Instruments Inc. (VECO) stock decreased 2.24 percent to $45.47 in the after-market trading.