After-market Movers For July 22 (TXN, SNDK, CRUS, FTNT, QCOM)

(RTTNews) - Gainers:

Texas Instruments Inc. (TXN) gained 1 percent to $49.81. The company's second quarter earnings improved from the year-ago quarter and matched Street view. Revenues for the quarter declined 2 percent and missed the consensus estimate. The company also forecast third quarter results below market view.

SanDisk Corp. (SNDK) was up 9 percent to $59.35. The company's second quarter earnings plunged from the year-ago quarter, but its adjusted earnings per share topped Wall Street view. Revenue, which was down 24 percent, also came above the consensus estimate.

Cirrus Logic Inc. (CRUS) gained 12 percent to $34.45 as its first quarter results surpassed the analysts' expectations. The company also guided second quarter revenue above the consensus estimate.

Fortinet Inc. (FTNT) rose 9 percent to $46.30. The company's second quarter GAAP profit plunged from the year-ago quarter, while its non-GAAP earnings per share topped Street view. Total revenue increased 30 percent and also topped the consensus estimate.

Decliners:

Qualcomm Inc. (QCOM) was down 2 percent to $62.71. The company's third quarter earnings and revenues were lower than in the year-ago quarter. The company also announced a strategic realignment plan, including job cuts, to enhance financial performance and drive growth. The company said it also reviewing alternatives to its corporate and financial structure and right-sizing the cost structure by eliminating approximately $1.4 billion in spending. The company also entered into an agreement with JANA Partners regarding board composition.