The top after-market NASDAQ Stock Market gainers are: Planar Systems, Senomyx, Actuate, SemiLEDs, and Brocade Communications Systems. The top after-market NASDAQ Stock Market losers are: Affymetrix, Tessera Technologies, Conns, Perficient, and Zhongpin.
Planar Systems Inc. (PLNR) stock jumped 18.79 percent to $3.35 in the after-market trading. The company's President and Chief Executive Officer Gerald Perkel sold 8,665 common shares at $2.88 per share on Wednesday, while Chief Financial Officer Scott Hildebrandt sold 3,598 common shares. The company's vice president, general counsel and secretary Stephen Going sold 2,658 common shares at $2.88 per share, while its vice president and general manager Douglas Barnes sold 3,298 common shares.
Senomyx Inc. (SNMX) stock grew 4.72 percent to $6.44 in the after-market trading.
Actuate Corp. (BIRT) stock gained 3.39 percent to $6.40 in the after-market trading.
SemiLEDs Corp. (LEDS) stock increased 3.29 percent to $6.28 in the after-market trading.
Brocade Communications Systems, Inc. (BRCD) stock rose 2.84 percent to $6.88 in the after-market trading. The Bedford Report said companies are increasingly looking to cloud computing environments in order to accelerate value in business financials and reduce costs. Cloud computing is highly appealing to today's organizations, not only because of its projected cost savings but also because of the cloud's flexibility.
The Bedford Report examines the outlook for companies in the Computer Storage Devices Industry and provides stock research on Brocade Communications. Brocade recently introduced its “CloudPlex” cloud architecture, an open framework for building virtualized data centers. CloudPlex represents Brocade’s strategy for combining compute, storage and networking components into a single converged architecture, bringing the storage and IP networking vendor into the converged infrastructure market.
Affymetrix Inc. (AFFX) stock plunged 19.38 percent to $6.45 in the after-market trading. The company expects second quarter revenue of $64 million to $65 million, below Street estimate of $74.08 million. The company anticipates product revenue of $58 million to $59 million, including consumable sales of about $55 million and instrument sales of about $3.5 million. Service revenue is projected to be about $5 million and license and royalty revenue are expected to be about $1 million. We are clearly disappointed with our revenue this quarter, said Tim Barabe, executive vice president and CFO.
During the second quarter we experienced decreased sales to academic customers across all regions, particularly in North America. Our consumable revenue was down by about 10% from last year, said Andrew Last, Affymetrix executive vice president and chief commercial officer. The company will report second quarter financial results after the close of the market on July 27.
Tessera Technologies Inc. (TSRA) stock fell 9.73 percent to $15.49 in the after-market trading. The company lowered its second quarter revenue guidance to about $71 million from previous forecast of $75.5 million to $78.5 million, while Street predicts $77.05 million. The company reduced its revenue guidance due to lower-than-expected Micro-electronics revenue, and lower shipments of DRAM units during the first quarter. We recognize Micro-electronics revenue one quarter in arrears and the first quarter actual data came in lower than expectations, which impacted our second quarter financials, said Robert Young, chief executive officer and president, Tessera.
Conns Inc. (CONN) stock slid 3.77 percent to $8.42 in the after-market trading.
Perficient Inc. (PRFT) stock declined 3.61 percent to $10.67 in the after-market trading.
Zhongpin, Inc. (HOGS) stock decreased 3 percent to $11.03 in the after-market trading.