NASDAQ Stock Market Movers July 21 2011, DTLK, MLNX, HOGS, TRMS, ALTH, FWRD, STX, MKSI, FFIV, TSCO, CAKE, QCOM

NASDAQ Stock Market Movers July 21 2011, DTLK, MLNX, HOGS, TRMS, ALTH, FWRD, STX, MKSI, FFIV, TSCO, CAKE, QCOM : The top after-market NASDAQ Stock Market gainers are: Datalink, Mellanox Technologies, Zhongpin, Trimeris, and Allos Therapeutics. The top after-market NASDAQ Stock Market losers are: Forward Air, Seagate Technology, MKS Instruments, F5 Networks, Tractor Supply, The Cheesecake Factory, and Qualcomm.

Gainers

Datalink Corp. (DTLK) stock jumped 15.17 percent to $9.11 in the after-market trading. Adjusted earnings for the second quarter were $3.27 million or $0.19 per share, up from $748,000 or $0.06 per share last year. Sales rose to $89.5 million from $70.9 million. Analysts had expected profit of $0.11 per share on revenue of $82.73 million. For the third quarter, the company expects adjusted earnings of $0.15 to $0.19 per share and revenue of $85 million to $90 million, while Street predicts profit of $0.12 per share on revenue of $81.19 million.

"I believe that our first half results and third quarter forecast are both indicative of the steadily increasing demand for unified data center infrastructure and that our customers and prospects continue to invest in this area. Our investments in expanded product and services portfolio are allowing us to take full advantage of this growing market," said Paul Lidsky, Datalink’s president and CEO.

Mellanox Technologies, Ltd. (MLNX) stock grew 6.86 percent to $31 in the after-market trading. Adjusted profit for the second quarter was $10.3 million or $0.27 per share, down from $10.4 million or $0.29 per share last year. Revenue grew 58.5 percent to $63.3 million. Analysts had expected profit of $0.21 per share on revenue of $61.87 million.

"Reaching the quarter-billion dollar annualized revenue run rate is a significant milestone for Mellanox. We completed the successful integration of Voltaire into Mellanox, and during the quarter we introduced our end-to-end FDR 56Gb/s InfiniBand and 40 Gigabit Ethernet interconnect solutions. We are encouraged by the momentum of design-wins and traction we see in various vertical markets and applications for these solutions," said Eyal Waldman, chairman, president and CEO of Mellanox Technologies.

Zhongpin, Inc. (HOGS) stock gained 5.56 percent to $9.12 in the after-market trading.

Trimeris Inc. (TRMS) stock increased 4.12 percent to $2.53 in the after-market trading.

Allos Therapeutics, Inc. (ALTH) stock rose 3.61 percent to $2.01 in the after-market trading. AMAG Pharmaceuticals, Inc. (AMAG) and Allos Therapeutics announced that they have entered into a definitive merger agreement under which the companies will combine in an all-stock merger with a total equity value of around $686 million. The transaction is expected to result in annual cost savings synergies of between $55 million and $60 million, the majority of which are expected to be realized in the first fiscal year after closing.

As per the terms of the transaction, which has been approved by the boards of directors of both companies, Allos stockholders will receive a fixed ratio of 0.1282 shares of AMAG Pharma common stock for each share of Allos common stock they own. Following the consummation of the merger, AMAG Pharma stockholders will own about 61 percent of the combined company and Allos stockholders will own around 39 percent of the combined company.

Losers

Forward Air Corp. (FWRD) stock fell 12.46 percent to $30 in the after-market trading. Profit for the second quarter was $12 million or $0.40 per share, up from $7.9 million or $0.27 per share last year. Operating revenue grew 8.3 percent to $132.2 million. Analysts had expected profit of $0.37 per share on revenue of $136.02 million. For the third quarter, the company expects earnings of $0.38 to $0.42 per share and revenue growth of 6 percent to 10 percent, while Street predicts profit of $0.40 per share on revenue growth of 14 percent.

Seagate Technology PLC (STX) stock tumbled 11.83 percent to $14.98 in the after-market trading. Profit for the fourth quarter was $119 million or $0.27 per share, down from $379 million or $0.76 per share last year. Adjusted earnings were $126 million or $0.28 per share. Revenue rose to $2.86 billion from $2.66 billion. Analysts had expected profit of $0.24 per share on revenue of $2.70 billion. The company's board has approved a quarterly cash dividend of $0.18 per share, which will be payable on August 26 to shareholders of record as of the close of business on August 5. In the conference call, Seagate said it expects first quarter adjusted earnings of $0.29 to $0.33 per share and revenue of about $2.9 billion, while Street predicts profit of $0.44 per share on revenue of $2.84 billion.

MKS Instruments Inc. (MKSI) stock slid 7.70 percent to $23.15 in the after-market trading. The company expects third quarter adjusted earnings of $0.40 to $0.60 per share and sales of $180 million to $210 million, while Street predicts profit of $0.66 per share on revenue of $227.04 million. The company reported second quarter adjusted earnings of $38.8 million or $0.73 per share, up from $33.4 million or $0.66 per share last year. Sales rose 2 percent to $224.5 million. Analysts had expected profit of $0.63 per share on revenue of $220.50 million.

F5 Networks, Inc. (FFIV) stock declined 6.99 percent to $103.65 in the after-market trading. Adjusted profit for the third quarter was $79.4 million or $0.97 per share, up from $53.3 million or $0.66 per share last year. Revenue grew 26.1 percent to $290.7 million. Analysts had expected profit of $0.91 per share on revenue of $290.66 million. For the fourth quarter, the company expects adjusted earnings of $0.97 to $0.99 per share and revenue of $307 million to $312 million, while Street predicts profit of $0.98 per share on revenue of $309.68 million.

Tractor Supply Co. (TSCO) stock decreased 4.58 percent to $67.43 in the after-market trading. Profit for the second quarter was $91.2 million or $1.23 per share, up from $77.3 million or $1.04 per share last year. Revenue grew 10.6 percent to $1.18 billion. Analysts had expected profit of $1.19 per share on revenue of $1.19 billion. Same-store sales increased 4.6 percent. For the fiscal 2011, the company raised its earnings guidance to range of $2.75 to $2.82 per share from previous forecast of $2.62 to $2.70 per share. The company also increased its 2011 sales outlook to range of $4.10 billion to $4.14 billion from previous range of $4.04 billion to $4.11 billion. Street analysts predict profit of $2.76 per share on revenue of $4.13 billion for the fiscal 2011. The company also lifted its 2011 same-store sales forecast to range of 5 percent to 6 percent from previous range of 3.5 percent to 5 percent.

The Cheesecake Factory Inc. (CAKE) stock declined 4.28 percent to $31.29 in the after-market trading. Adjusted earnings for the second quarter were $24.7 million or 0.42 per share, up from $23.7 million or $0.39 per share last year. Revenue rose to $430.7 million from $418.9 million. Analysts had expected profit of $0.42 per share on revenue of $434.76 million. Comparable restaurant sales increased 2.1 percent.

In the conference call, Cheesecake Factory said it expects third quarter comparable sales of 1.5 percent to 3 percent and earnings of $0.36 to $0.39 per share, while Street predicts profit of $0.41 per share. The company also anticipates fourth quarter comparable sales of 1.5 percent to 3 percent and earnings of $0.50 to $0.55 per share. For the full year 2011, the company expects comparable sales of 1.5 percent to 2.5 percent and earnings of $1.62 to $1.70 per share, while Street predicts profit of $1.65 per share. In addition, the company said it is increasing its share repurchases target for 2011 to range of $125 million to $150 million from previous forecast of $100 million.

Qualcomm Inc. (QCOM) stock decreased 2.44 percent to $55.90 in the after-market trading. Parkervision Inc. (PRKR) said it has commenced federal litigation against Qualcomm, alleging that the company infringes seven ParkerVision patents relating to radio-frequency receivers and the down-conversion of electromagnetic signals. The complaint further alleges that Qualcomm has utilized and continues to utilize devices, systems, or methods that directly or indirectly infringe upon one or more claims of these patents.

In the complaint filed today in the United States District Court for the Middle District of Florida, ParkerVision is seeking unspecified monetary damages from Qualcomm as well as a permanent injunction barring the manufacture and sale of Qualcomm's infringing devices. The complaint accuses Qualcomm of objective recklessness in its infringing activity and seeks an award of exemplary damages, attorneys' fees, and costs in bringing this action.

Separately, Qualcomm reported its third quarter adjusted earnings of $1.24 billion or $0.73 per share, up from $936.0 million or $0.57 per share last year. Revenue grew 34 percent to $3.62 billion. Analysts had expected profit of $0.71 per share on revenue of $3.59 billion. For the fourth quarter, the company expects adjusted earnings of $0.75 to $0.80 per share and revenue of $3.86 billion to $4.16 billion, while Street predicts profit of $0.76 per share on revenue of $3.93 billion. For the full year 2011, the company raised its adjusted earnings guidance to range of $3.15 to $3.20 per share from previous forecast of $3.05 to $3.13 per share. The company also increased its 2011 revenue outlook to range of $14.7 billion to $15.0 billion from previous range of $14.1 billion to $14.7 billion. Street analysts predicts profit of $3.15 per share on revenue of $14.73 billion for the full year 2011.