NEW YORK (CNN/Money) -
The earnings parade continued after the closing bell Thursday as Electronic Data Systems, John Hancock and Maxim Integrated Products all reported quarterly results.
But bigger after-the-bell news came from Schering-Plough (SGP: Research, Estimates).
The drugmaker said late Thursday it halted a late-stage trial of its experimental drug for lung cancer but will continue early-stage trials of a medicine for leukemia and solid tumors.
Kenilworth, N.J.-based Schering-Plough, which badly needs new drugs to restore earnings growth, said an interim analysis of the trial data indicated the drug, Sarasar, was not adequately effective against non-small-cell lung cancer, the most common form of the disease.
In after-hours trading, Schering-Plough shares fell to $18.41 from a close of $18.97 on the New York Stock Exchange.
Electronic Data Systems (EDS: Research, Estimates) stock also fell after the nation's second-largest technology services provider posted a quarterly loss after charges related to its money-losing Navy contract and restructuring costs.
EDS, whose new management is struggling to turn around a company plagued by increasing competition, problematic contracts and a government probe, also said its contract signings were almost cut in half during the quarter.
Shares of EDS dropped to $22.80 after the bell from a close at $23.29 on the NYSE.
John Hancock Financial (JHF: Research, Estimates), which agreed to be acquired by Canadian insurer Manulife Financial Corp., reported late Thursday that quarterly earnings fell after an accounting change.
The Boston-based company said its fourth-quarter net income was $72.1 million, or 25 cents per share, compared with $96.6 million, or 33 cents per share, a year earlier.
Shares of Maxim Integrated Products (MXIM: Research, Estimates), a supplier of analog microchips used in a variety of electronics, rose after the company reported a higher quarterly profit and said orders were particularly strong for chips with industrial applications.
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In the fiscal second quarter ended Dec. 27, Maxim said profit rose to $98.5 million, or 28 cents a share, from $77.1 million, or 23 cents a share, a year earlier. Revenue jumped to $338.1 million from $286.1 million in the same quarter last year.
Maxim Chairman and Chief Executive Jack Gifford said in a statement that a shortage of capacity for high-performance chip production could become evident in the next six months in foundries, the factories that produce chips based on other companies' designs.
Maxim stock rose to $49.75 on the INET electronic brokerage system after the bell from a close of $48.72 in regular trade on Nasdaq.
Corporate results will continue to roll in next week. Among some of the big earnings scheduled for release are Alcan (AL: Research, Estimates), Hasbro (HAS: Research, Estimates) and InterActiveCorp (IACI: Research, Estimates) due Monday; Blockbuster (BBI: Research, Estimates), MetLife (MET: Research, Estimates) and Priceline.com (PCLN: Research, Estimates) due Tuesday; American International Group (AIG: Research, Estimates), Coca-Cola (KO: Research, Estimates) and Disney Co. (DIS: Research, Estimates) due Wednesday; and Aetna (AET: Research, Estimates), GlaxoSmithKline (GSK: Research, Estimates) and Safeway (SWY: Research, Estimates) will report on Thursday.
-- from staff and wire reports
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