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There are three stocks that investors can keep an eye for potential upside during the intraday trading on Wednesday. The market is likely to react to the company's financial results for the September quarter, special dividend and guidance. These stocks witnessed hectic trading activity in the extended hours trading on Tuesday.

While News Corp. (NASDAQ:NWS) has gained over 2%, The Buckle (NYSE:BKE) advanced 5%. However, it was Procera Networks (NASDAQ:PKT) that recorded more than 10% gains. These stocks advanced after the companies announced better than expected results for Q3 or declared a special dividend.

Similarly, there are three stocks that have potential for downside risks following their quarterly results, loss of business and guidance. Plexus is likely to be the worst since the stock plunged 23% in the after hours of trading on Tuesday following its announcement that it will no longer be a supplier to Juniper Networks (NYSE:JNPR). This is followed by LivePerson (NASDAQ:LPSN) that dropped more than 15% after the normal markets closed on Tuesday. The company's September quarter results and guidance for December quarter are below estimates. Rubicon Technology (NASDAQ:RBCN) will be the third company to be watched for downside risks following their tepid outlook for Q4.

Procera Networks reported a profit of $2.8 million for Q3, up from $2.0 million. However, EPS remained flat at 14 cents. On an adjusted basis, net income rose to $3.6 million from $2.5 million and EPS to 18 cents from 17 cents in the year-ago quarter. Revenues grew 32% to $16.1 million from $12.2 million. Street analysts were expecting the company to earn 9 cents a share and revenues of $15.8 million. Procera backed its revenue guidance of 40% growth for the full year 2012, which is in line with the consensus. The company results seem to have benefited from its global expansion.

Another company to see uptick is The Buckle. The company declared a special cash dividend of $4.50. This is in addition to the 20 cents quarterly dividend payable to its shareholders of record on December 7. The company will pay both the special and regular dividend on December 21. The company's dividend provides a yield of 1.7% and the 5 year average dividend yield works out to 5.9%.

News Corp. is also likely to witness upward trajectory following its Q3 EPS topping analyst estimations. The company earned a profit of $2.23 billion or EPS of 94 cents for the first quarter, sharply higher than $738 million or EPS of 28 cents. On an adjusted basis, net income grew to $1.01 billion or EPS of 43 cents from $837 million or EPS of 32 cents in the last year. Revenues rose 2% to $8.14 billion from $7.96 billion in the previous year. The company's revenue upside was fuelled by a 16% growth in its Cable Network Programming unit. While EPS came in above expectations of 37 cents, revenue is more or less in line with analysts' predictions.

Going forward, News Corp. sees its adjusted operating income to be between high single and low double digit growth for the full year compared to $5.6 billion recorded last year.

On the downside risks, Plexus Corp. will likely see the dumping by investors. The stock plunged over 25% in the extended hours of trading on Tuesday following the company's announcement that it will no longer be a supplier of Juniper Networks. Juniper is in the process of reducing its suppliers and communicated its decision to Plexus on Monday. The company's president and CEO commented, "This is very surprising news to us given our recent communications and activities with Juniper, including the recent award of Juniper programs and our collaboration with Juniper on activities to support their competitiveness. Plexus has been an important strategic supplier to Juniper for more than a decade."

While the event will have a near-term significance, the company is optimistic about its strategy after winning $956 million worth of new business in fiscal 2012 that includes networking and communications sector.

LivePerson will also likely join the losers pack after the company's revenue and guidance missed expectations. The company reported net income of $1.6 million or EPS of 3 cents for Q3, down from $2.7 million or EPS of 5 cents in the last year. Adjusted profit also slipped to $4.6 million or EPS of 8 cents from $4.8 million or EPS of 9 cents. The company blamed deal and litigation related costs for the lower profit. Revenues increased 16% to $39.7 million driven by 17% growth in its B2B operations. While EPS came in line with a Street estimation of 8 cents, revenues came in below Street analysts' predictions of $41.06 million.

For the fourth quarter, LivePerson guided adjusted EPS to be 7 - 9 cents and revenues between $41.5 and $42 million. Both EPS and revenues were below the Wall Street analysts' expectations of 10 cents and $44.65 million respectively.

Rubicon Technology is one more company to witness a likely downward trajectory in Wednesday trading. The company reported a profit of $272K or EPS of one cent compared to $8.19 million or EPS of 35 cents. Revenues dropped to $19.94 million from $33.64 million. Analysts predicted a loss of 3 cents a share and revenues of $19.97 million.

Going forward, the company sees Q4 revenues to be similar to that of Q3 and expects a loss of 2 to 5 cents a share. This is significantly below the analysts' expectations of EPS 4 cents and revenues $25.76 million.

Source: Wednesday Morning Digest: 6 Stocks To Watch For Intraday Trading