EBay Inc. (EBAY) announced that its quarterly earnings and sales came in higher than expected by Wall Street, pushing the company's shares up nearly 3%.
Spansion (SPSN) shares dropped 20% after the chipmaker posted a wider quarterly loss and outlined a restructuring plan. The company said it would be facing weaker prices for its flash chips due to competitive pressures.
Novellus Systems Inc. (NVLS) shares dropped 2.8% after the company forecast second quarter earnings of 42 cents to 45 cents per share.
E-Trade Financial Corp. (ETFC) cut its 2007 forecast due to a reduction in customer trading amid market volatility. The company forecast FY2007 earnings of $1.55 to $1.75 compared to analyst estimates of $1.62 to $1.78 per share.
Gilead Sciences Inc. (GILD) shares moved marginally higher after the company announced first-quarter results that surpassed analysts' expectations. The company also backed its 2007 product revenue and earnings forecast.
Avici Systems Inc. (AVCI) shares fell 27% after the company said it was transitioning away from core router development to focus on its new product iniative. The company also said that it swung to a quarterly profit and declared a special cash dividend of $2 per share.
Yahoo Inc. (YHOO) shares dropped 11.8% on triple the normal volume after the company's profits dropped 11% on higher operating costs as it spent more to compete with Google. The results disappointed analysts and investors who expected better profit and sales figures in light of a new upgraded ad feature known as Panama.
ASML Holding (ASML) shares moved up 5% after the company said first-quarter profit nearly doubled as it shipped more machines used to make chips for mobile phones and iPods.
Carrington Laboratories (CARN) shares rose almost 8% today after the company announced supply and patent license agreements for at least 10 years with Primus Pharmaceuticals Inc.
Avanir Pharmaceuticals (AVNR) shares rose over 300% after the company announced positive top-line results from its Phase III clinical trial evaluating the investigational drug Zenvia in diabetic neuropathic pain.