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OCZ, Goldcorp shares fall after hours

LOS ANGELES (MarketWatch) -- Shares of OCZ Technology Group Inc. dropped sharply late Tuesday, with the data-storage device maker's quarterly results missing expectations, and Goldcorp Inc. shares pulled back after the Canadian miner cut its yearly production outlook.

OCZ (OCZ) shares sank 9.2% to $4.95 after the designer and maker of solid-state drives said its first-quarter adjusted loss was 17 cents a share. Analysts polled by Thomson Reuters had expected a loss of 12 cents a share. Revenue climbed 54% to $113.6 million, short of the consensus estimate of $116 million.

The company projected second-quarter revenue of $130 million to $140 million, compared with the consensus estimate of $133 million. Read more about OCZ's quarterly results.

Canada's Goldcorp Inc. (GG) cut its 2013 production outlook because of setbacks at two of its mines. It now expects to produce 2.35 million to 2.45 million ounces of gold this year, down from its previous forecast of 2.6 million ounces. The company's U.S.-listed shares fell 2.4% to $35.87

Meanwhile, shares of Chubb Corp. (CB) were unchanged at $71.64 after the insurer estimated second-quarter losses from catastrophes to run between $200 million and $240 million before taxes. Chubb said on an after-tax basis, that translates to about 48 cents to 57 cents a share. The losses stem from 13 catastrophic events related to severe hail and wind storms in the U.S., Chubb said

During the regular session, U.S. stocks fell for a fourth session as the U.S. dollar gained on uncertainty over Europe, and a sales-forecast reduction at engine maker Cummins Inc. added to concerns about second-quarter earnings. Read more in Market Snapshot.