The top after-market NASDAQ Stock Market gainers are: Sify Technologies, Vitacost.com, Entropic Communications, Oncothyreon, Globus Maritime, Research In Motion, and Apple. The top after-market NASDAQ Stock Market losers are: Micron Technology, Conns, MicroStrategy, Republic Airways Holdings, and Oracle.
Sify Technologies Ltd. (SIFY) stock grew 4.42 percent to $4.49 in the after-market trading.
Vitacost.com, Inc. (VITC) stock increased 3.75 percent to $4.70 in the after-market trading.
Entropic Communications, Inc. (ENTR) stock gained 3.73 percent to $8.62 in the after-market trading. Standard & Poor's said Entropic Communications will replace Holly Corp. (HOC) in the S&P SmallCap 600, effective after the close of trading on June 30. Entropic will be added to the S&P SmallCap 600 GICS Semiconductors Sub-Industry index. Holly will replace Frontier Oil Corp. (FTO) in the S&P MidCap 400 index. Holly is acquiring Frontier Oil in a deal expected to be completed on or about June 30, pending final approvals. Holly will change its name to HollyFrontier Corp. following completion of the merger.
Oncothyreon Inc (ONTY) stock increased 3.27 percent to $8.85 in the after-market trading.
Globus Maritime Ltd. (GLBS) stock rose 3.20 percent to $8.71 in the after-market trading.
Research In Motion Ltd. (RIMM) stock moved up 0.40 percent to $29.89 in the after-market trading. Eastman Kodak Co.'s (EK) lucrative patent fight with Apple and RIM has been delayed by the U.S. International Trade Organization. The decision, which was originally slated to be delivered Thursday, could have big consequences for Apple and RIM if ITC favors Kodak. Kodak sought, in its lawsuit filed in January 2010, to block smartphones of both the companies entering the U.S. It argued that their cameras used image previewing technology, which was patented by Kodak.
Apple Inc. (AAPL) stock moved up 0.17 percent to $331.80 in the after-market trading. If the U.S. International Trade Organization judge finds in favor of Eastman Kodak (EK) in the patent suit, it could mean Apple and RIM devices would be blocked for sale in the U.S., RBC Capital Markets said in a note to clients. Should the ITC rule in Kodak’s favor, we estimate the BlackBerry maker may settle for $450 million to $550 million and the iPhone maker may settle for $450 million to $550 million. This estimate is based on Kodak’s Chairman and CEO Antonio Perez’s statement Kodak may receive $1 billion in royalties from Apple and RIM, as well as upon prior settlements with Samsung for $550 million and LG for $414 million, RBC Capital's analyst Mike Abramsky said.
Micron Technology Inc. (MU) stock plunged 12.93 percent to $7.34 in the after-market trading. Profit for the third quarter was $75 million or $0.07 per share, lower than last year's $939 million or $0.92 per share. Sales declined 6.6 percent to $2.14 billion. Analysts had expected a profit of $0.16 per share on revenue of $2.37 billion.
Conns Inc. (CONN) stock fell 5.74 percent to $7.72 in the after-market trading.
MicroStrategy Inc. (MSTR) stock slid 5.61 percent to $149.87 in the after-market trading.
Republic Airways Holdings Inc. (RJET) stock declined 4.62 percent to $4.45 in the after-market trading.
Oracle Corp. (ORCL) stock decreased 4.40 percent to $31.03 in the after-market trading. Adjusted profit for the fourth quarter was $3.9 billion or $0.75 per share, up from $3.0 billion or $0.60 per share last year. Revenue grew 13 percent to $10.78 billion, while adjusted revenue rose 12 percent to $10.81 billion. Analysts had expected profit of $0.71 per share on revenue of $10.75 billion.
For the quarter, hardware systems products revenue fell 6 percent to $1.2 billion, while hardware systems support revenue increased 12 percent to $673 million. During a conference call after the earnings release, analysts grilled Oracle executives on the drop in hardware sales. President Safra Catz said that they fell as Oracle had walked away from deals that would have been unprofitable.
In the conference call, Oracle said it expects first quarter adjusted revenue growth of 9 percent to 12 percent and adjusted earnings of $0.45 to $0.48 per share, while Street predicts profit of $0.46 per share on revenue growth of 9.20 percent. The company also expects new software licenses revenue growth of 10 percent to 20 percent and hardware product revenue to be down 5 percent to up 5 percent.