* Avanex Corp. – rose$1.51 to $2.70 after the close of U.S. exchanges. The maker of fiber optic-basd products said in a statement that it agreed to buy the optical-components businesses of Alcatel and Corning for $63.5mio in stock.
* Knight Trading Group Inc. – the biggest market-maker of Nasdaq and OTC securities said Nasdaq President Robert Greifeld resigned from its board, which approved an increase in a stock-repurchase program, to avoid a conflict of interest.
* Smithfield Foods Inc. – the world’s largest pork processor had some credit ratings cut by S&P Rating Services, after the close of regular U.S. markets trading.
* Applied Materials – will report Q2 figures after the U.S. markets close tonight. Expectations are for revenues of USD1.1bn with bookings up 10% this quarter.
* Intel Corp. – the world’s largest maker of semiconductors said on Monday it has cut prices of some of its fastest Pentium 4 desktop processors by as much as 30%
* Motorola Inc. – expects its biggest cost savings in 2003 and 2004 in its cell-phone and semiconducor units.