CIENA CORP (CIEN, 62)- The networking company met expectations as it earned 3 cents per share in its fourth quarter.  The company lost 5 cents in last year's third quarter.  Revenues increased 55% to $141.4 million in the quarter.  The company said it expects revenue growth to exceed 505 next year.  The shares are up 2.83 in pre-open trading on the news.

NATIONAL TECHNICAL SYSTEMS (NTSC, 3)- The provider of IT outsourcing services earned 5 cents per share in its third quarter, compared to last year's loss of 4 cents.  Revenues fell to $21 million from last year's $23.2 million.

EQUINOX SYSTEMS (EQNX, 10.75)- The company warned that lower than expected fourth quarter sales will cause earnings to miss expectations.  The company sees a breakeven fourth quarter compared to analysts' expectations of a 29 cents profit.

BIO-VASCULAR INC (BVAS, 2.09)- The medical products maker beat expectations as it reported breakeven fourth quarter results, compared to expectations of a loss of two cents.  Revenues increased 23% to $5 million in the quarter.  The shares rose 5/32 to $2.25 in after hours trading on the news.

BIRMINGHAM STEEL (BIR, 6.43)- The steelmaker has suspended its quarterly dividend.

BRISTOL-MYERS SQUIBB CO (BMY, 67)- The drugmaker has increased its quarterly dividend to $0.245 from $0.215.  The company also said it would increase its stock buyback program by $2 billion.

CATAPULT COMMUNICATIONS (CATT, 19.43)- The maker of communications test applications warned that first quarter earnings would be five cents per share, compared to expectations of 16 cents.  The company attributed the shortfall to lower Japanese revenues as a result of contract cancellations and postponements by telecom NTT.  The stock is down 5.43 to 14 in pre-open trading.

LONGVIEW FIBRE CO (LFB, 13.63)- The timber and paper producer beat estimates by 10 cents as fourth quarter earnings increased to 23 cents per share from last year's two cents.  Revenues increased 15% to $227 million in the quarter.

NCO GROUP INC (NCOG, 34.31)- The provider of collection services said it expected to meet analysts' fourth quarter earnings expectations.  The company's shares fell 9 points during Tuesday's trading on rumors that it would miss estimates.  The shares rose 1.25 in after hours trading on the news.

SAMSONITE CORP (SAMC, 5.5)- The luggage maker's third quarter loss increased to 75 cents per share from last year's loss of 33 cents.  Revenues increased 4.6% to $208.2 million in the quarter.  The company attributed the wider loss to lower U.S. margins.

AUTOZONE INC (AZO, 27.94)- The auto parts retailer beat estimates by 2 cents as fiscal first quarter earnings increased 18% to 40 cents per share.  Revenues in the quarter increased 12% to $1 billion, and same store sales rose 7%.

CYGNUS INC (CYGN, 9.25)- An FDA advisory committee has recommended approval of the company's GlocoWatch glucose monitor.  The stock is up 8.25 in pre-open trade on the news.

REMEC INC (REMC, 12.43)- The maker of microwave systems for wireless communications applications missed estimates as it reported a third quarter loss of $0.04, compared to expectations of a profit of $0.01.  Revenues increased to $48.37 million from $41.69 million.

TRACTOR SUPPLY CO (TSCO, 15.25)- The farm products retailer warned that fourth quarter earnings will be $0.48-$0.52, compared to expectations of $0.70.  The company attributed the shortfall to warmer than normal temperatures. 

AIR CANADA (ACNAF, 6.5)- The board of directors of Canadian Airlines voted on Saturday to recommend the approval of a takeover bid from Air Canada.

AK STEEL (AKS, 16.88)- The 3,200 workers at the steelmaker's Middletown Works plant have approved a new labor contract that calls for a $2.50 per hour wage increase over the 6 1/3 years of the contract.

BRAUN CONSULTING (BRNC, 36.13)- The provider of Internet sevices has agreed to acquire Emerging Technologies Consultants Inc. in a $27 million cash and stock deal.

CERPROBE CORP (CRPB, 9.25)- The maker of semiconductor testing equipment has agreed to acquire testing products maker OZ Technologies Inc in a $36 million cash and stock deal.

DELTA AIR LINES (DAL, 51.06)- The airline said November traffic increased 4.8% over the prior year, and its November load factor increased to 70.8 from 68.0.

GILEAD SCIENCES (GILD, 45.56)- The drug maker has ended development of its HIV drug Adefovir Dipivoxil following an FDA advisory committee recommendation against its approval last month.

SEAGATE TECHNOLOGY (SEG, 39.75)- The disc drive maker has agreed to acquire storage maker XIOtech Corporation in a $360 million all-stock deal.

SEMTECH CORP (SMTC, 53.75)- The company has cancelled the remainder of its $10 million stock buyback program.