U.S. stocks closed higher Thursday. The Dow Jones Industrial Average gained
64 points to 9345, the S&P 500 increased 9 points to 1003 and the Nasdaq
Composite rose 16 points to 1983. Among the companies whose shares are actively
trading in the after-hours session are Quiksilver Inc. (ZQK), Esterline
Technologies Corp. (ESL) and Ulta Salon Cosmetics & Fragrance Inc. (ULTA).
Quiksilver's (ZQK) fiscal third-quarter earnings fell 53% as a difficult
retail environment hit revenue and gross margin. Shares fell 6.6% to $2.67 in
after-hours trading as the outdoor-sports apparel and accessories maker also
gave a fiscal fourth-quarter view that came in below analysts' estimates.
Esterline Technologies Corp.'s (ESL) fiscal third-quarter profit jumped 60%
on a tax benefit, lower expenses and higher margins. The aerospace and defense
products manufacturer's earnings topped Wall Street's expectations and the
company raised its previously slashed fiscal-year earnings target by a dime.
Shares rose 4.3% to $31.80 in post-market trading.
Krispy Kreme Doughnuts Inc.'s (KKD) fiscal second-quarter loss narrowed as
the doughnut chain reported it swung to an operating profit and same-store
sales rose. Shares fell 1.8% to $3.28 after the market close.
Ulta Salon Cosmetics & Fragrance Inc.'s (ULTA) fiscal second-quarter profit
jumped 56% on higher sales for the beauty-products retailer along with cost
containment. Shares increased 3.7% to $12.95 after the market closed.
ArcSight Inc. (ARST, $19.66, +$0.05, +0.25%) swung to a fiscal first-quarter
profit - its fourth in a row - as sales surged. Shares climbed 3.8% to $20.40
in after-hours trading, as the provider of compliance and security software's
results topped its forecast. The stock has more than quadrupled from a all-time
low in November and just reached its all-time high Tuesday. The company went
public in February 2008.
Regular Session Movers:
ABM Industries Inc.'s (ABM, $20.95, -$1.02, -4.64%) fiscal third-quarter
profit dropped 25% on an insurance charge, but the facility-services
contractor's earnings topped analysts' estimates.
Shares of Allos Therapeutics Inc. (ALTH, $7.52, -$0.34, -4.33%) were dragged
down Thursday by speculation the biopharmaceutical company's experimental
lymphoma drug won't get approved, even after it received a key regulatory vote
Wednesday. An advisory committee to the U.S. Food and Drug Administration
backed the drug, Folotyn, for accelerated approval. The FDA doesn't have to
follow the committee's decision, but it typically does. Yet, analysts said
investors are focusing on concerns the FDA raised about the drug during
discussions surrounding the vote.
Amedisys Inc. (AMED, $34.04, -$9.42, -21.68%) said President and Chief
Operating Officer Larry Graham and Chief Information Officer Alice Ann Schwartz
are leaving to pursue other interests. Analysts said Graham was seen as the
company's heir apparent.
American International Group Inc. (AIG, $41.75, +$3.80, +10.01%) continued
its wild ride Thursday. Shares rose following Chief Executive Robert
Benmosche's comment that he will look to cut in half fees the company pays to
sell off units. This was seen as a further sign that the "seasoned" executive
knows what he is doing, said Thomas Kovatch, president of risk management
consulting firm UIC.
Casella Waste Systems Inc. (CWST, $2.62, +$0.09, +3.56%) swung to a fiscal
first-quarter loss on a double-digit revenue decline driven by weak demand from
construction customers. But the waste-management company said higher commodity
prices helped its recycling operations.
China Natural Gas Inc. (CHNG, $11.75, +$2.30, +24.34%) priced 5.73 million
shares, raising about $50 million it plans to use to build liquefied natural
gas facility, the purchase of eight compressed natural gas fueling stations and
eight tanker trucks. The company will also form a joint venture with China
Natural Petroleum Corp.
Ciena Corp. (CIEN, $13.00, +$0.73, +5.95%) swung to a fiscal third-quarter
loss amid weak demand, though the telecom-equipment company's results beat Wall
Street's expectations and showed sequential improvement.
Citigroup Inc.'s (C, $4.77, +$0.21, +4.61%) shareholders approved resolutions
that would authorize an increase in the number of shares outstanding to 60
billion, allowing the struggling banking giant to complete a $60 billion
securities exchange that leaves the U.S. government a one-third owner.