The top after-market NASDAQ Stock Market gainers are: Dynavox, Sino Clean Energy, Quantum Fuel Systems Technologies Worldwide, Pacific Mercantile Bancorp, Toreador Resources, and VeriSign. The top after-market NASDAQ Stock Market losers are: Clearwire, Cisco Systems, Jazz Pharmaceuticals, Gulfport Energy, and Aeterna Zentaris.
Dynavox Inc. (DVOX) stock jumped 7.27 percent to $6.49 in the after-market trading. Profit for the third quarter was $651,000 or $0.07 per share, while adjusted pro forma earnings were $2.57 million or $0.09 per share. Sales rose 1 percent to $28.7 million. Analysts had expected profit of $0.06 per share on revenue of $24.96 million.
For the fiscal 2011, the company still expects adjusted pro forma earnings of $0.21 to $0.27 per share. The company now projects 2011 sales to decline 6 percent to 8 percent, compared to previously expected decline of 10 percent to 15 percent from last year. Street analysts predict profit of $0.16 per share on revenue of $101.06 million with a sales decline of 11.60 percent for the fiscal 2011.
Sino Clean Energy Inc (SCEI) stock grew 6.07 percent to $2.62 in the after-market trading.
Quantum Fuel Systems Technologies Worldwide Inc. (QTWW) stock gained 5.76 percent to $4.77 in the after-market trading.
Pacific Mercantile Bancorp (PMBC) stock increased 5.40 percent to $4.10 in the after-market trading.
Toreador Resources Corp. (TRGL) stock rose 4.87 percent to $5.81 in the after-market trading.
VeriSign Inc. (VRSN) stock gained 4.70 percent to $37.23 in the after-market trading. The company said it has entered into a Settlement Agreement and Mutual Release with the Coalition for ICANN Transparency Inc. (CFIT), CFIT's members, and specified related parties that resolves the over five-year long CFIT litigation.
As per the terms of the deal, no payment will be made and the parties immediately will file a dismissal with prejudice of all claims in the litigation. In addition, the parties executed mutual releases from all claims now and in the future related to the litigation. The company said CFIT voluntarily agreed to dismiss its claims in their entirety with prejudice in view of recent developments in the case.Net and for disgorgement, and Verisign's motion for summary judgment.
Clearwire Corp. (CLWR) stock fell 5.07 percent to $4.49 in the after-market trading. Intel Corp. (INTC) said it plans to sell up to 10 million of its shares in Clearwire, through its venture capital arm, Intel Capital. Intel said the sale of about a tenth of its stake in Clearwire will help it to realize certain tax benefits. In a regulatory filing, Intel said it periodically re-balances its equity portfolio based on its goals, the performance of stocks in its portfolio, and the evaluation of market conditions.
The sale will be made beginning on or about May 13 in public open market transactions on the NASDAQ Global Select Market. Intel further said WiMAX continued to be strategically important to Intel, and the sale of the shares will not affect any contractual obligations or business arrangements between the the company and Clearwire.
Cisco Systems, Inc. (CSCO) stock slid 3.32 percent to $17.19 in the after-market trading. Profit for the third quarter was $1.81 billion or $0.33 per share, down from $2.19 billion or $0.37 per share last year. Adjusted profit declined to $2.35 billion from $2.48 billion. On a per share basis, adjusted profit was $0.42, flat with last year. Sales rose to $10.87 billion from $10.37 billion. Analysts had expected profit of $0.37 per share on revenue of $10.86 billion.
Separately in the conference call, the company said it expects fourth quarter adjusted earnings of $0.37 to $0.39 per share and revenue growth of flat to up 2 percent on a year-over-year basis, while Street predicts profit of $0.42 per share on revenue growth of 7.10 percent.
Jazz Pharmaceuticals, Inc. (JAZZ) stock declined 1.97 percent to $29.40 in the after-market trading.
Gulfport Energy Corp. (GPOR) stock decreased 1.87 percent to $27.35 in the after-market trading.
Aeterna Zentaris Inc. (AEZS) stock moved down 1.69 percent to $2.32 in the after-market trading.