Shares of International Business Machines dominated trade after the closing bell Monday, while shares of Rambus Inc. spiked after blowing past analyst expectations.
The Nasdaq-100 After Hours Indicator, which tracks the evening action of the technology-heavy index's leading shares, was down 0.68 point to 1549.20.
Shares of IBM (IBM) ticked modestly higher after the company reported a third-quarter profit of $1.5 billion, or 94 cents a share, compared to $1.6 billion, or 92 cents a share a year ago. Revenue came in at $21.5 billion, below Wall Street expectations and down from $23.4 billion. Analysts surveyed by Thomson First Call had forecast IBM to earn $1.13 a share on revenue of $21.7 billion.
Rambus Inc. (RMBS) shares rose over 6% to $12.31 at one point after the company reported third-quarter net earnings of $14.5 million, or 14 cents a share on revenue of $36 million. The chip technology company was expected to post earnings of 2 cents a share on revenue of $33 million.
Shares of Novellus Systems Inc. (NVLS) fell more than 1% at one point to $24.61 after the company said that its third-quarter profit fell to $23.4 million, or 17 cents a share, from $64.7 million, or 45 cents, a year ago. Revenue slid 18.5% to $338.9 million as chip manufacturers placed fewer orders for equipment.
The results missed Wall Street's per-share estimate of 21 cents but topped the revenue estimate of $321 million.
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