BP Share News (BP.)

U.S. stocks traded higher Monday, as the Dow Jones Industrial Average gained 101 points to 10525, the S&P 500 grew 12 points to 1115 and the Nasdaq Composite increased 27 points to 2296. Among the companies whose shares are actively trading in the after-hours session are Legg Mason Inc. (LM), Sanmina-SCI Corp. (SANM) and Fluor Corp. (FLR). Legg Mason's fiscal first-quarter profit fell 4.2% as investors continued to pull funds from the asset manager and investments wilted in the stock-market decline. Shares were down 3.4% at $29.05 in after-hours trading as earnings fell just short of analysts' expectations. Sanmina-SCI, an electronic manufacturing services company, reported adjusted earnings and revenue above Wall Street's expectations for its fiscal-third quarter, but forecast the fourth-quarter and full-year results that bracketed expectations, with the low ends missing forecasts. Shares sunk 9.5% to $14.35 in late trading. Fluor's second-quarter profit fell 7% on lower revenue and margins, although results topped analysts' expectations and benefited from strength in the company's industrial and infrastructure business. Shares rose 2.4% to $49 in the after-hours session, as the engineering-and-construction company also raised the lower end of its 2010 profit target by 10 cents a share. LeapFrog Enterprises Inc. (LF) topped expectations for its second quarter but the educational products company projected its third-quarter results would miss Wall Street's consensus figures for earnings and revenue. Even though the full-year view looked strong, shares slid 3.5% to $5.21 in the late-trading session. Integrated Device Technology Inc. (IDTI) beat Wall Street's expectations for its fiscal first quarter as the provider of semiconductor solutions said its growth was exceeding the industry's. It also announced a $225 million stock repurchase plan, with shares rising 3.4% to $5.82 in late trading. Regular Session Movers: FedEx Corp. (FDX, $83.39, +$4.43, +5.61%) boosted its earnings predictions for the fiscal first quarter and rest of the year, with the shipping giant saying express and ground volumes have been higher than it anticipated. Rival United Parcel Service Inc. (UPS, $64.88, +$1.21, +1.90%) also traded higher. Noah Education Ltd. (NED, $2.84, -$0.58, -16.96%), a maker of education electronic devices in China, projected fiscal fourth-quarter revenue less than half of what it had called for in May, blaming distribution woes. Onyx Pharmaceuticals Inc. (ONXX, $26.04, +$4.54, +21.12%) reported positive results from a midstage study of its proteasome inhibitor carfilzomib, used to treat multiple myeloma. As a result, the drug company expects to submit a new-drug application by year's end for "potential accelerated approval" from the U.S. Food and Drug Administration. The board of BP PLC (BP, $38.65, +$1.79, +4.86%) is negotiating the departure of its embattled chief executive, Tony Hayward, people familiar with the matter told The Wall Street Journal, in a bid by the U.K. oil titan to move beyond the Gulf of Mexico disaster that has undercut his three-year effort to remake the company. BP said Monday that no decisions have yet been made on the future of Hayward or the final charge the company will book for the Gulf oil spill in its second quarter results Tuesday. Alberto-Culver Co.'s (ACV, $30.93, +$1.53, +5.20%) fiscal third-quarter earnings jumped 69% amid a dispute-related gain as the personal-care and household products company continued to see sales growth for its hair-care products and commodity costs decline. The results beat analysts' expectations. Barclays Capital said legislation supporting electric vehicles in the U.S. and growing demand worldwide has it expecting battery maker A123 Systems Inc. (AONE, $10.70, +$1.28, +13.59%) to have a "very robust" outlook over the next few years when it reports in two weeks, upgrading the shares to overweight from equalweight. Meanwhile, the firm started coverage on Ener1 Inc. (HEV, $3.35, +$0.12, +3.72%) at equalweight, as it's also likely to benefit from growing electric-vehicle demand but has a worse-off balance sheet. Advanced Micro Devices Inc. (AMD, $8.07, +$0.25, +3.20%) launched a tender offer for up to $800 million of debt and concurrently said the chip maker plans to sell $500 million of longer-term notes in order to help fund the buyback. Alcoa Inc. (AA, $11.23, +$0.18, +1.63%) began tender offers for up $750 million in notes maturing over the next three years as part of a debt-refinancing effort. Fitch Ratings boosted its junk ratings on American Axle & Manufacturing Holdings Inc. (AXL, $9.30, +$0.16, +1.75%) by a notch, citing the U.S. auto supplier's cost-cutting efforts and higher production from General Motors Corp. Wells Fargo cut its rating on American Medical Systems Holdings Inc. (AMMD, $22.55, -$0.34, -1.49%) to market perform from outperform, saying the stock is now fairly valued. The firm added there is some risk that the health products and services company's women's health business slows given results from some of its competitors. Anadarko Petroleum Corp. (APC, $50.53, +$1.76, +3.61%) said Monday that it has made a significant discovery offshore Ghana. The discovery well at the Owo prospect in the Deepwater Tano Block encountered approximately 174 net feet of high-quality oil pay, with the oil appearing to be light crude of between 33 and 36 degrees of American Petroluem Institute gravity, the energy company said in a statement. Cal-Maine Foods Inc.'s (CALM, $33.19, +$3.50, +11.79%) fiscal fourth-quarter earnings more than doubled, beating analysts' estimates, amid higher average selling prices and lower feed costs. (MORE TO FOLLOW) Dow Jones Newswires July 26, 2010 17:00 ET (21:00 GMT)