NEW YORK (CNNfn) - TranSwitch jumped in after-hours trading Wednesday after reporting better-than-expected third-quarter results.
Communications chip maker Applied Micro Circuits sparkled after beating Wall Street's estimates for its second quarter.
But the big-screen cinema company Imax was a gloomy picture after the company warned of a third-quarter loss.
Internet stocks continued to suffer on investor jitters about the future of Internet advertising, triggered by Yahoo!'s report it lost advertisers in the latest quarter.
Wednesday's after-hours winners
TranSwitch (TXCC: Research, Estimates) up $4.56 to $59.50. The semiconductor company on Wednesday said its third-quarter earnings rose 18 percent, beating Wall Street expectations, as revenue more than doubled.
Applied Micro Circuits (AMCC: Research, Estimates) up $8.97 to $176.69. The communications chip maker on Wednesday reported better -than-anticipated earnings for the second quarter, and declared a 2-for-1 stock split.
Advanced Micro Devices (AMD: Research, Estimates) up 32 cents to $22.13. The semiconductor manufacturer reported third-quarter earnings of 64 cents a share excluding one-time items, compared with Wall Street expectations of 62 cents a share.
Phone.com (PHCM: Research, Estimates) up $2.44 to $94. ABN Amro started coverage of the provider of Internet service to wireless telephones with a "buy" rating and a 12-month price target of $145 a share.
Rational Software (RATL: Research, Estimates) up $1.62 to $59. The maker of software for electronic business, on Wednesday reported second-quarter earnings that easily beat Wall Street's expectations on record revenue that jumped 46 percent.
Altera (ALTR: Research, Estimates) up $1.31 to $32, Xilinx (XLNX: Research, Estimates) up $1.12 to $64.50, Applied Materials (AMAT: Research, Estimates) up $1 to $52.56. A number of semiconductor stocks rebounded from Tuesday's sell-off of the industry, triggered by analyst downgrades of Altera and Xilinx.
Wednesday's after-hours losers
Centura Software (CNTR: Research, Estimates) down $1.03 to $1.75. The information appliance and e-business software solutions provider on Wednesday warned of a third quarter loss between 20 cents and 21 cents a share compared with a profit 1 cent per share one year ago as the
company shifts its product line away from client/server software applications.
Imax (IMAX: Research, Estimates) down $5 to $9.50. The big-screen cinema company warned on Wednesday it would post a modest loss for the third quarter because of a weakening of the North American exhibition
industry and an increase in the money spent on developing digital technologies.
Yahoo! (YHOO: Research, Estimates) down 69 cents to $64.69. The Web portal slumped despite reporting third-quarter earnings late Tuesday that beat analysts' expectations. The company said the number of advertisers on its site declined from the prior quarter, a signal that problems in the Internet sector may crimp the company's growth prospects.
VeriSign (VRSN: Research, Estimates) down 62 cents to $157, Lycos (LCOS: Research, Estimates) down 6 cents to $39.01, Terra Networks (TRRA: Research, Estimates) up 6 cents to $21.44. Other Internet stocks fell on Yahoo!'s news.
Immunex (IMNX: Research, Estimates) down $1 to $38.50. The biopharmaceutical company on Tuesday warned doctors about rare cases of serious blood and central nervous system disorders reported in patients taking the company's flagship arthritis drug Enbrel.
Wednesday's after-hours newsmakers
Redback Networks (RBAK: Research, Estimates) down $1.56 to $111. The computer networking systems company on Tuesday posted a third-quarter profit that surpassed Wall Street expectations of a loss.
Information Architects Corporation (IARC: Research, Estimates) down 72 cents to $2.25. The information management solutions provider said Wednesday third quarter revenue would fall short of analysts' expectations, but the company would top earnings per share projections by 5 to 6 cents.
Sonus Networks (SONS: Research, Estimates) down $1 to $40.75. The provider of voice infrastructure solutions for the new public
network on Wednesday reported a smaller-than-expected loss for the third quarter ended Sept. 30.
CUseeMe Networks (CUSM: Research, Estimates) up 81 cents to $3.75. The provider of voice and visual communications solutions
for the Internet announced Tuesday that it has developed a Conference Technology Provider for the Microsoft Exchange 2000 Conferencing Server.
FSI International (FSII: Research, Estimates) down 12 cents to $10.50. The microelectronics equipment maker said late Tuesday its fiscal fourth-quarter income rose but was below Wall Street estimates, and forecast its sales will be flat or up slightly in the fiscal first quarter 2001 versus the fourth.
BroadVision (BVSN: Research, Estimates) up 12 cents to $23.81. WebMethods (WEBM: Research, Estimates) up 88 cents to $85.75. The worldwide supplier of personalized e-business applications announced on Wednesday a strategic partnership with WebMethods to provide real-time integration of BroadVision applications over the Internet and into business systems of suppliers, customers, and trading partners across the entire e-commerce ecosystem.
Qualcomm (QCOM: Research, Estimates) up 88 cents to $71.38, Nokia (NOK: Research, Estimates) down 12 cents to $33. Motorola's lower outlook also sparked fears that the mobile phone industry is slowing down.
Lucent Technologies (LU: Research, Estimates) down 13 cents to $21.25. The telecom equipment maker, one of the most widely held U.S. stocks, warned late Tuesday that it expects earnings for its fiscal fourth quarter to fall short of analysts' estimates, marking the company's third profit warning this year.
CSG Systems International (CSGS: Research, Estimates) up 41 cents to $47.03. Bear Stearns, Chase H&Q and Salomon Smith Barney upgraded their ratings on CSG Systems. The company, which provides billing services for cable television and telephone companies, said late Tuesday that AT&T (T: Research, Estimates) -- its biggest customer -- agreed to dismiss with prejudice a demand to arbitrate a contract dispute.
Time Warner (TWX: Research, Estimates) unchanged at $81.39. America Online (AOL: Research, Estimates) down 77 cents to $53.73. European regulators conditionally approved the $125 billion merger of America Online and Time Warner, removing a major hurdle to the creation of the world's largest media company with interests in entertainment, cable and online services. Time Warner is the parent company of CNNfn.com.
California Amplifier (CAMP: Research, Estimates) up $1.44 to $22.38. Needham & Co. initiated coverage of the microwave-products company with a "strong buy" rating.
Global Crossing (GBLX: Research, Estimates) down 12 cents to $21.31. The company, which is building undersea and land-based fiber-optic communications networks, said it has named Vice Chairman Thomas Casey as chief executive officer, succeeding Leo Hindery, who resigned after just seven months on the job.
PacifiCare Health Systems (PHSY: Research, Estimates) down 69 cents to $15. The nation's largest provider of Medicare managed-care plans warned Tuesday of weak third-quarter earnings in the face of high hospital costs that have forced it to curtail Medicare enrollment in some areas. 
-- compiled by Antoinette Coulton, Mark Gongloff, and Parija Bhatnagar from staff and wire reports
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