After the Bell - SST, Broadcom add to gains
NEW YORK, July 3 (Reuters) - Shares in Silicon Storage Technology Inc. (NASDAQ: SSTI) added in after-hours trade to hefty earlier gains on Monday, after the memory solution company's recent annoucement that it expects to report record second- quarter results and to continue increasing capacity, due to high demand for its products.
SST was quoted at 99.50 on the Island electronic trading system, which moved to a decimal quoting system as of Monday, versus its close at 99 earlier. During the holiday-shortened Nasdaq session, SST gained 10-11/16. SST was quoted at 99 on the Instinet after-hours system.
The California-based company said last week it expects second-quarter earnings of more than 50 cents per share, exceeding the First Call/Thomson Financial consensus estimate of 39 cents. It also said it expects to report a revenue increase of greater than 50 percent over the first quarter and more than 300 percent from the same year-ago period.
SST will report results on July 18.
Meanwhile, Broadcom Corp. (NASDAQ: BRCM), a maker of semiconductors for high-speed communications systems, added in after-hours trade to steady gains seen since late June, when it was added to the closely watched Standard & Poor's 500 index .
Broadcom was quoted at one point at 221.8125 on the Island system and later moved to trade at 221.00; the stock was last quoted at 221-1/4 on Instinet, against a close at 220-17/32 on Nasdaq for a gain of 1-19/32 in the regular session.
Broadcom shares have risen steadily since June 19, when they were trading in the 148 area, after an annoucement that day that the company will replace GTE Corp. (NYSE: GTE) in the S&P 500. GTE Corp. is being acquired by local phone company Bell Atlantic Corp. (NYSE: BEL).
In other aftermarket activity, shares in fiber-optic equipment maker JDS Uniphase Corp. (NASDAQ: JDSU) gave back part of its gain of 8-5/16 points to 128-3/16 in the regular Nasdaq session on Monday, which ended three hours early in observance of the July 4 Independence Day holiday. On Island, JDS Uniphasse fell to 127.75, and on Instinet, the stock slipped to 127-3/4. |
