Among the companies with shares expected to actively trade in
Friday's session are Comtech Telecommunications Corp. (CMTL),
Forest Oil Corp. (FST), Union Pacific Corp. (UNP) and Xyratex Ltd.
(XRTX).
Comtech Telecommunications' fiscal fourth-quarter earnings fell
35% as the maker of advanced communication systems posted sales
declines throughout its operations. Shares were up 12% to $26.88
after hours, however, as per-share earnings beat analyst
expectations and the company recorded its highest quarterly
bookings number for the year.
Forest Oil's shares jumped in after-hours trading after the oil
and gas producer disclosed it agreed to sell its Texas Panhandle
assets for $1 billion. The stock climbed 12% to $7.08 in
after-hours trading, as Forest said it expects to use proceeds from
the sale to primarily reduce debt and bolster financial
flexibility.
Union Pacific issued third-quarter earnings and revenue targets
that fell short of Wall Street's expectations, as the railroad
operator said mild weather and an uncertain economic environment
led to flat volumes. Shares of Union Pacific fell 1.5% to $152.99
in after-hours trading. Peers CSX Corp. (CSX) and Norfolk Southern
Corp. (NSC) were also trading lower.
Xyratex's fiscal third-quarter earnings fell 70% on a
double-digit revenue decline mostly related to a continued
reduction in revenue from NetApp Inc. (NTAP). Shares were down 8.3%
at $11 in after-hours trading as the company also gave a mostly
downbeat outlook for the current quarter.
Watch List:
Pfizer Inc. (PFE) said the Food and Drug Administration approved
its Duavee treatment for moderate to severe hot flashes and to
prevent post-menopausal osteoporosis in women. The drug was
developed by Pfizer's Wyeth Pharmaceuticals unit as part of a
broader collaboration with Ligand Pharmaceuticals Inc. (LGND).
Write to John Kell at john.kell@wsj.com
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