9-24-13 5:50 PM EDT | Email Article

By Wallace Witkowski, MarketWatch


SAN FRANCISCO (MarketWatch) -- Ascena Retail Group Inc. shares surged in the extended session Tuesday after the company's quarterly results blew past Wall Street estimates.


Ascena (ASNA) shares rallied more than 14% to $19.77 on heavy volume.


The company, which operates such stores as Lane Bryant and Dress Barn, reported adjusted fiscal fourth-quarter earnings of 34 cents a share on revenue of $1.2 billion. Analysts surveyed by FactSet expected earnings of 20 cents a share on revenue of $1.15 billion.


Ascena also forecast earnings excluding any one-time costs of $1.25 to $1.30 in 2014. Analysts, who typically factor in one-time costs into estimates, see $1.33 a share.


Crown Holdings Inc. (CCK) shares dropped 4.5% to $41.50 in moderate volume after the packaging products maker cut its third-quarter earnings outlook to a range of $1.05 to $1.10 a share, from its previous forecast of $1.15 to $1.25, citing a drop in demand for food cans in Europe and beverage cans in North America. Analysts expect $1.21 a share.


Shares of AAR Corp. (AIR) fell 9% to $27.25 on light volume after the aviation-services company reported fiscal first-quarter earnings of 45 cents a share on revenue of $514.5 million. Analysts expected 48 cents a share on revenue of $539.2 million.


Dynavax Technologies Corp. (DVAX) shares rose 3.4% to $1.23 on moderate volume after the biotech said that favorable results from two of its late-stage clinical trials for its Heplisav hepatitis B vaccine were backed by doctors in an article in the journal Vaccine.


Shares of Clovis Oncology Inc.(CLVS) fell more than 11% to $65.19 after a Bloomberg report said the cancer treatment maker has not received any interest from buyers after shopping itself around for a potential sale.


Shares of J.P. Morgan Chase & Co. (JPM) continued to slide after hours, declining 0.6% to $50.02 on moderate volume. Before the close, shares ended down 2.2% after the bank offered $3 billion to settle several probes by the Justice Department.


Oracle Corp. (ORCL) shares were up 0.1% to $33.67 on moderate volume after Chief Executive Larry Ellison skipped his Tuesday keynote address at the company's Open World conference to watch his boat race in the America's Cup.

-Wallace Witkowski; 415-439-6400; AskNewswires@dowjones.com


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09-24-13 1750ET

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Copyright 2014 MarketWatch
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Morningstar - 2013/9/24 - UPDATE: Ascena Retail shares rally after hours
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