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Novellus Systems (NVLS | Quote | Chart | News | PowerRating) will report Q2 results after the close tonight, and analysts polled by Thomson Financial expect the company to report a profit of $0.04 per share on revenue of $251.5 million.
NVLS is one to watch in extended-hours play. The issue favors a widening trend between the sessions following extended-hours earnings events recorded within our database. The stock has seen its evening movement widen 10 times and narrow six following its last 16 earnings events. In the near term, NVLS is mixed; it has reversed its move twice and widened twice over the last year.
Looking deeper into the performance data between the sessions, shorts may want to keep a close eye on NVLS as the stock tends to add to its earnings-driven after-hours downside movement in the next day's regular session. In the 16 quarters we've tracked, NVLS has recorded an earnings-driven after-hours decline in 12 of those quarters. Of that number, the stock has seen a more aggressive negative move in nine of those events.
On April 21, 2008, the stock fell 5.6% during evening trading after NVLS reported Q1 results below the year-ago period. The loss swelled to 9.9% the next day.
On Jan. 30, 2008, NVLS declined 3.9% in after-hours trade despite beating Q4 expectations. It saw this decline evaporate in the Jan. 31 regular session, advancing 1.5% by the closing bell.
On Oct. 23, 2007, NVLS eeked out a 0.6% rise in night trade following better-than-expected results. It found firmer upside footing the following day, rising 1.5% by the close on Oct. 24.
On July 16, 2007, the stock slipped 0.6% in the after-hours market despite beating with Q2 results. The stock rallied to gain 11.2% the next day.
On April 18, 2007, NVLS slipped 2.8% in night trade after missing Q1 expectations. Shares fell further the next day, ending down 5.8%.
On Jan. 24, 2007, NVLS rose 2.1% in after-hours trade when the company beat Q4 and FY estimates. However, shares could not hold onto their gains and ended the next day's regular session down 2.1%.
On Oct. 17, 2006, the stock dropped 4.4% in response to a post-bell release that showed Q3 sales just missed the Street's expectation. The loss deepened to 7.4% the next day.
On July 19, 2006, shares gained 2.1% in the night session after the company beat with Q2 results. That gain turned to a 4.1% loss by the closing bell the next day.
On April 19, 2006, shares were down 3.4% after the company beat the Street view with its latest results. The loss picked up the next day, with shares finishing down 6.1%.
On Jan. 25, 2006, NVLS gained 4.2% after topping the Street's view with Q4 results and guiding higher for the coming quarter. The gain swelled to 7% the next day.
On Oct. 17, 2005, the stock fell 8% during the after hours and extended its slide with a 12.3% decline the following day; the company set guidance below expectations.
On July 19, 2005, the stock fell 1.9% in the after hours despite the company's reporting better-than-expected Q2 results. However, shares regained some ground and closed the July 20 regular session up a bullish 6.8%.
On April 18, 2005, the stock fell 1.4% after hours despite posting in-line results; on the other hand, it set a cautious outlook. It fell marginally harder in the April 19 regular session, closing down 1.5%.
On January 27, 2005, NVLS beat expectations and the stock edged down 0.6%. It added to its downside in next-day trade, losing 1.5% by the January 28 closing bell.
On Oct. 13, 2004, NVLS slid 5.8% after reporting better-than-expected results. The issue was pressured further the following day, losing 8.8% in regular session trade.
And, on July 12, 2004, NVLS lost 5.1% in premarket trade after the company beat expectations. It narrowed its downside in the July 12 regular session, managing a 4.2% decline between the bells.
Brooks McFeely is widely regarded as the leading expert on extended-hours trading. He is a Managing Partner for Brochet Capital Partners, LP and the founder of Midnight Trader, Inc. (www.midnighttrader.com), the leading provider of pre-market and after-hours trading analysis and news to retail and institutional investors.
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