Tuesday, February 1, 2011

Novellus Systems (Nasdaq:NVLS), Anadarko (NYSE:APC), Baidu (Nasdaq:BIDU) Active After Hours Trading

Novellus Systems (Nasdaq:NVLS), Anadarko (NYSE:APC) and Baidu (Nasdaq:BIDU) all were active in after hours trading, as each company reported their quarterly results Monday.

Novellus Systems' fourth-quarter profits were driven by ongoing demand for semiconductors, with profits more than doubling during the period. Semiconductor sales continue to be robust because of the strong personal-computer and laptop-computer demand as the adoption of Microsoft Corp's (NASDAQ:MSFT) Windows 7 software remains unabated. Shares rose 3.41 percent, to $37.30 in after-hours trading, as Novellus' bottom line was greater than its December estimate.

Anadarko Petroleum's fourth-quarter profit dropped 52% as the oil-and-gas producer reported higher derivative gains a year ago, while overall production and revenue increased during the latest quarter. Excluding items, Anadarko's bottom line, easily surpassed Wall Street's expectations, although top-line growth fell short of projections. Shares fell $0.83, or 1.08 percent, to $76.25 in after-hours trading.

Baidu's fourth-quarter revenue almost doubled, and its earnings more than doubled - as China's top Internet search engine posted results which exceeded analysts' estimates. The American depositary shares of the company were up 7.57 percent at $116.75 after hours.

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