Aftermarket Movers
Earnings news from a theme park operator to a semiconductor testing equipment maker drove aftermarket trading Thursday.
Shares of Accredited Home Lenders Holding Co. dropped in aftermarket trading, continuing a stretch of volatility for the subprime mortgage lender, reflecting trouble for the sector.
"Subprime" refers to loans given to borrowers with risky credit. Increasing default rates have caused pressure from subprime lenders' financiers, and has led to sector and broader stock selloffs.
Accredited's stock rose $3.39, or 56 percent, to close at $9.43 during the regular Nasdaq Stock Market session Thursday but fell 48 cents, or 5.1 percent, to $8.95 in after-hours trading.
Trimeris Inc. declined 48 cents, or 4.8 percent, to $9.59 in late session trading after the biopharmaceutical company said its chief executive Dani P. Bolognesi is retiring effective Friday, March 16. He also serves as chief scientific officer.
Trimeris' Chief Financial Officer Robert Bonczek is retiring effective April 30.
The Morrisville, N.C.-based company also announced fourth-quarter profit and sales that beat analyst expectations, according to a Thomson Financial poll. Shares closed at $10.07 earlier on the Nasdaq.
Theme park operator Six Flags Inc. gave up 36 cents, or 5.6 percent, to $6.12 after-hours. The stock closed at $6.48 earlier on the NYSE.
The New York-based company posted a wider fourth-quarter loss, saying attendance at its parks declined. The reported loss was greater than Wall Street estimates.
Tektronix Inc. gave up 91 cents, or 3.2 percent, to $27.95 in the extended session after the maker of electronics and semiconductor testing equipment said fiscal third-quarter profit fell 14 percent as climbing costs offset slight revenue growth.
Overall orders fell 2 percent from the prior year, the Beaverton, Ore. company said. Weakness in the company's communications business offset stronger demand in its instruments business.
Meanwhile, Tektronix saw sharply higher costs from research and development, acquisitions and amortization as well as selling, general and administrative expenses.
Shares closed the regular New York Stock Exchange session at $28.86.
Bigband Networks, which went public earlier in the day, extended a rise into the after-hours session.
Shares rose 50 cents, or 2.9 percent, to $17.50 from an earlier 31 percent rise to a $17 close on the Nasdaq.
The provider of equipment for cable-television companies is based in Redwood City, Calif. The strong first-day performance came on top of a higher-than-expected IPO price of $13, from a previous range of between $10 and $12.
Published By AP
Shares of Accredited Home Lenders Holding Co. dropped in aftermarket trading, continuing a stretch of volatility for the subprime mortgage lender, reflecting trouble for the sector.
"Subprime" refers to loans given to borrowers with risky credit. Increasing default rates have caused pressure from subprime lenders' financiers, and has led to sector and broader stock selloffs.
Accredited's stock rose $3.39, or 56 percent, to close at $9.43 during the regular Nasdaq Stock Market session Thursday but fell 48 cents, or 5.1 percent, to $8.95 in after-hours trading.
Trimeris Inc. declined 48 cents, or 4.8 percent, to $9.59 in late session trading after the biopharmaceutical company said its chief executive Dani P. Bolognesi is retiring effective Friday, March 16. He also serves as chief scientific officer.
Trimeris' Chief Financial Officer Robert Bonczek is retiring effective April 30.
The Morrisville, N.C.-based company also announced fourth-quarter profit and sales that beat analyst expectations, according to a Thomson Financial poll. Shares closed at $10.07 earlier on the Nasdaq.
Theme park operator Six Flags Inc. gave up 36 cents, or 5.6 percent, to $6.12 after-hours. The stock closed at $6.48 earlier on the NYSE.
The New York-based company posted a wider fourth-quarter loss, saying attendance at its parks declined. The reported loss was greater than Wall Street estimates.
Tektronix Inc. gave up 91 cents, or 3.2 percent, to $27.95 in the extended session after the maker of electronics and semiconductor testing equipment said fiscal third-quarter profit fell 14 percent as climbing costs offset slight revenue growth.
Overall orders fell 2 percent from the prior year, the Beaverton, Ore. company said. Weakness in the company's communications business offset stronger demand in its instruments business.
Meanwhile, Tektronix saw sharply higher costs from research and development, acquisitions and amortization as well as selling, general and administrative expenses.
Shares closed the regular New York Stock Exchange session at $28.86.
Bigband Networks, which went public earlier in the day, extended a rise into the after-hours session.
Shares rose 50 cents, or 2.9 percent, to $17.50 from an earlier 31 percent rise to a $17 close on the Nasdaq.
The provider of equipment for cable-television companies is based in Redwood City, Calif. The strong first-day performance came on top of a higher-than-expected IPO price of $13, from a previous range of between $10 and $12.
Published By AP
posted by Stock Administrator @ 7:34 PM
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