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Yahoo falls, Fusion-io rallies after hours

LOS ANGELES (MarketWatch) -- Fusion-io Inc. and NVIDIA Inc. shares jumped Thursday evening after stronger-than-anticipated results from the technology companies, while Yahoo Inc.'s stock dropped as the Web portal's new chief reviews business and capital strategy.

Fusion-io (FIO) shares jumped 26% to $26.55 as the data-storage company posted fiscal fourth-quarter earnings excluding one-time items of 9 cents a share. Analysts surveyed by FactSet had been looking for earnings of 3 cents a share. Revenue rose to $106.6 million from $71.7 million a year ago, with the latest result higher than the consensus estimate of $96 million. The company also expects first-quarter sales to "modestly increase" over its fourth-quarter results.

Fusion-io swung to a net loss $2.4 million, or 3 cents a share. A year ago, it made $5.8 million or 6 cents a share.

Nvidia (NVDA) shares climbed 4.7% to $15.40. The chip maker said second-quarter's adjusted earnings of 27 cents a share outstripped analysts' expectations of 14 cents a share. Revenue was $1.04 billion, up from $1.02 billion a year ago, and Wall Street expected revenue of $1 billion.

For the current quarter, Nvidia expects revenue of $1.15 billion to $1.25 billion. Analysts had pegged revenue at $1.09 billion. Its profit in the second quarter was $119 million, or 19 cents a share, compared with $151.6 million or 25 cents a share a year earlier.

Stock in Yahoo (YHOO) was down 4.4% at $15.30 after the company said in a regulatory filing that Marissa Mayer, its new chief executive, is reviewing the company's strategy, including its "planned capital-allocation strategy" and recent restructuring plan.

The review process "may lead to a re-evaluation of, or changes to, our current plans, including our restructuring plan, our share-repurchase program" and plans for proceeds related to the sale of Yahoo's stake in Chinese Internet portal Alibaba. A large chunk of the proceeds were expected to be redistributed to shareholders. More on Yahoo CEO Mayer's strategy review.

Sharply lower were shares of Ubiquiti Networks Inc. (UBNT) , sliding as much as 52% after the network-technology company warned that counterfeit products will hurt its fiscal first-quarter forecast. Its board also approved a $100 million share-buyback program. The shares last pared losses 33% at $10.

Ubiquiti forecast revenue of $62 million to $70 million for the September quarter, well below the $98.4 million expected by analysts. The "amount of counterfeited goods, combined with the impact it has on our distributor's inventory and the purchasing patterns of our customers, will impact our business outlook for the next two fiscal quarters," according to the company, which also said earnings in its fiscal fourth quarter surged 57%.

Back to advancers, Nordstrom Inc. (JWN) shares picked up 2% to trade at $56.20 as the company raised its 2012 earnings target to $3.40 to $3.50 a share, and increased its same-store sales forecast to growth of 6% to 7%. The upscale retailer also indicated it would face more margin pressure.

Second-quarter earnings at $156 million, or 75 cents a share, down from $175 million or 80 cents a share in the same period a year ago. Revenue rose 7% to $2.92 billion, while same-store sales grew 4.5%.

In the regular session, U.S. stocks ended little changed, with the S&P 500 Index (SPX) clinging to a slight gain to maintain its longest winning run since March, after U.S. data proved better than expected. The S&P 500 rose less than 1 point to 1,402.80. The Nasdaq Composite Index (COMP) rose 0.3% to 3,018.64, while the Dow Jones Industrial Average (DJIA) shed 10 points at 13,165.19. More about U.S. stocks in Market Snapshot.