Applied Materials Drops on Forecast: U.S. After-Hours

Applied Materials Inc. shares fell in extended U.S. trading after the largest maker of semiconductor-production machines forecast profit this quarter that trailed analysts' estimates.

Applied Materials lost 93 cents, or 4.9 percent, to $17.88 as of 6:50 p.m. in New York.

The company predicted earnings in the current quarter will fall to between 16 cents and 20 cents, compared with an average analyst estimate of 27 cents in a Bloomberg survey. Fiscal fourth-quarter profit at Applied Materials fell 6.1 percent after it filled fewer orders from makers of computer-memory chips.

CarMax Inc. rose $1.26, or 5.9 percent, to $22.73 after Berkshire Hathaway Inc., the investment firm run by billionaire Warren Buffett, disclosed a 6.4 percent stake in the biggest U.S. used-car dealer. Berkshire, which held 14 million shares as of Sept. 30, is now the fourth-biggest shareholder in CarMax, according to Bloomberg data. Berkshire disclosed the holding in a regulatory filing.

December futures on the Standard & Poor's 500 Index lost 0.10 to 1478, while Nasdaq-100 Index futures fell 11.5 to 2,046.

In regular trading, the U.S. stock market resumed its weeklong descent, led by department stores and computer makers, after Macy's Inc. cut its sales forecast and the government said consumer spending slowed last month.

The Dow Jones Industrial Average lost 76.08, or 0.6 percent, to 13,231.01. The Nasdaq Composite Index fell 29.33, or 1.1 percent, to 2,644.32. The S&P 500 decreased 10.47, or 0.7 percent, to 1,470.58.
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