Aftermarket Movers: Some Retailers Rock , AEOS up , HOTT not so hot ....XLNX ups guidance .
Wednesday January 4, 5:09 pm ET
Teen Retailers Stir After-Hours Activity, With American Eagle, Aeropostale Leading Gains
NEW YORK (AP) -- Retailer stocks stirred a flurry of after-hours activity Wednesday, as investors rewarded teen clothiers American Eagle Outfitters Inc. and Aeropostale Inc. after their December same-store sales topped Wall Street estimates.
American Eagle reported a 9.8 percent jump in December same-store sales and backed its profit guidance for the year. The company's stock added $1.50, or 6.6 percent, in aftermarket electronic trading, after closing down 51 cents at $22.80 on the Nasdaq.
Mall-based teen retailer Aeropostale reported an 11.4 percent rise in December same-store sales, and upped its fourth-quarter earnings forecast. Its shares rose $2, or 7.2 percent, after closing up 46 cents to $27.70 on the New York Stock Exchange.
Hot Topic shares didn't fare as well. The stock closed down 21 cents at $14.04 on the Nasdaq, then slid $1.07, or 7.6 percent, on the INET electronic exchange when the company posted lower-than-expected December same-store sales and predicted 2005 earnings would miss their mark by a wide margin.
Same-store sales are a key performance measure in the retailing industry.
Elsewhere, programmable chip maker Xilinx Inc. said after the market closed it expects sales in the third quarter to grow between 11 percent and 12 percent sequentially, versus a prior forecast of 4 percent to 8 percent growth. The news bumped the company's shares up $1.50, or 5.6 percent, aftermarket. The Nasdaq-listed stock closed $1.16 higher, up 4.5 percent, to $26.93.
Riding Xilink's coat tails, shares of rival Altera Corp. rose 60 cents, or 3.3 percent, in aftermarket activity, after closing up 10 cents at $19.20 on the Nasdaq.
Shares of Kronos Inc., a provider of payroll and other labor products, plunged after the company warned fiscal first-quarter profit and sales would come in significantly below Wall Street's expectations. After being halted early in the aftermarket session, Kronos shares gave up $1.96, or 4.7 percent, to $39.56 on INET, having closed at $41.52 on the Nasdaq.