The top after-market NASDAQ Stock Market gainers are: Blackboard, Dendreon, Approach Resources, Smith & Wesson Holding, and FSI International. The top after-market NASDAQ Stock Market losers are: AMC Networks, Photronics, Xyratex, Globe Specialty Metals, and Investors Real Estate Trust.
Blackboard Inc. (BBBB) stock jumped 12.77 percent to $48.93 in the after-market trading. Private equity firm Providence Equity Partners is nearing a deal to buy Blackboard, with the two sides finalizing terms on Thursday evening, Reuters reported citing sources close to the situation. A deal could be announced by Friday morning, sources told Reuters.
Dendreon Corp. (DNDN) stock gained 3.70 percent to $40.90 in the after-market trading. The company announced significant milestones that support broad availability for on-label use of PROVENGE (sipuleucel-T), the first autologous cellular immunotherapy for the treatment of asymptomatic or minimally symptomatic metastatic castrate resistant (hormone refractory) prostate cancer (mCRPC). The U.S. FDA approved the Los Angeles immunotherapy manufacturing facility on June 29. The facility includes 36 workstations, and Dendreon will bring these on in a staged approach.
In addition, the Centers for Medicare and Medicaid Services (CMS) issued a final National Coverage Decision (NCD) for PROVENGE on June 30, requiring Medicare contractors to cover the use of PROVENGE for treatment of asymptomatic or minimally symptomatic metastatic castrate resistant (hormone refractory) prostate cancer. The NCD will standardize coverage processes across the country for all Medicare patients with asymptomatic or minimally symptomatic metastatic castrate resistant (hormone refractory) prostate cancer and provides the local Medicare Administrative Contractors (MACs) specific criteria, consistent with the label, on how PROVENGE should be covered. PROVENGE was issued a product specific Q-code effective July 1, 2011, which allows for electronic submission of claims and is expected to accelerate time to payment for physicians
Approach Resources, Inc. (AREX) stock increased 3.66 percent to $23.50 in the after-market trading. Approach Resources will replace California Pizza Kitchen Inc. (CPKI) in the S&P SmallCap 600 index after the close of trading on July 6. Private equity firm Golden Gate Capital is acquiring California Pizza Kitchen in a deal expected to be completed soon.
Smith & Wesson Holding Corp. (SWHC) stock gained 3.33 percent to $3.10 in the after-market trading. Profit for the fourth quarter was $1.1 million, or $0.02 per share, down from $2.7 million or $0.04 per share last year. The latest quarter results included the negative impact of $0.08 per share related to security solutions division and the negative impact of $0.05 per share related to unusual expenses during the quarter, including costs associated with the Thompson/Center Arms consolidation and the previously announced DOJ and SEC investigations. Adjusted earnings declined to $12.87 million from $15.1 million. Revenue rose 7.7 percent to $111.8 million. Analysts had expected profit of $0.04 per share on revenue of $110.14 million. The company expects first quarter sales of $92 million to $95 million, while Street predicts $98.14 million. For the fiscal 2012, the company anticipates sales of $420 million to $440 million, while Street predicts $413.18 million.
FSI International Inc. (FSII) stock rose 3.28 percent to $2.83 in the after-market trading.
AMC Networks Inc. (AMCXV) stock fell 6.41 percent to $40.71 in the after-market trading. Analysts are telling investors to buy AMC networks as Friday stock debut looms, The Hollywood Reporter stated. Cablevision Systems is expected to complete spin-off of its Rainbow Media programming arm, which will now be known under the name AMC Networks and whose stock is scheduled to start trading on Friday.
Photronics Inc. (PLAB) stock slid 5.55 percent to $8 in the after-market trading.
Xyratex Ltd. (XRTX) stock tumbled 5.46 percent to $9.70 in the after-market trading. Adjusted loss for the second quarter was $1.9 million or $0.06 per share, compared to a profit of $46.8 million or $1.49 per share last year. Revenue fell 26 percent to $338.5 million. Analysts had expected breakeven per share on revenue of $339.53 million. For the third quarter, the company expects adjusted earnings of $0.10 to $0.28 per share and revenue of $336 million to $376 million, while Street predicts profit of $0.21 per share on revenue of $349.80 million.
Globe Specialty Metals, Inc. (GSM) stock declined 5.22 percent to $21.25 in the after-market trading.
Investors Real Estate Trust (IRET) stock decreased 4.73 percent to $8.25 in the after-market trading. Funds from operations for the fourth quarter was $14.69 million or $0.15 per unit, down from $15.76 million or $0.17 per unit last year. Loss was $149,000 or $0.01 per share, compared to a profit of $654,000 or $0.01 per share last year. Revenue declined to $59.12 million from $59.41 million. Analysts had expected a profit of $0.16 per share on revenue of $61.39 million. In addition, the company said its board of trustees has approved a plan to reduce its quarterly distribution to $0.1300 from $0.1715 per common share and limited partnership unit, effective with the next quarterly distribution planned for October 3, 2011.