The top after-market NASDAQ Stock Market gainers are: Move, LoJack, Brocade Communications Systems, United Community Banks, and AsiaInfo-Linkage. The top after-market NASDAQ Stock Market losers are: Cninsure, Perfect World, Newport, hiSoft Technology International, and Immunogen.
Move, Inc. (MOVED) stock jumped 67.41 percent to $6.78 in the after-market trading. The company announced a previously approved 1-for-4 reverse split of its common stock has been implemented. Shares of Move will continue to trade on the NASDAQ Stock Exchange under the symbol MOVE, with the letter D added to the end of the trading symbol for 20 trading days, indicating a reverse stock split has been effected. The Reverse Stock Split became effective as of 5:00 p.m., Eastern time, on Nov. 18, at which time every four shares of the company's issued and outstanding common stock were automatically combined into one issued and outstanding share of the company's common stock, without any change in the par value per share.
LoJack Corp. (LOJN) stock grew 9.39 percent to $2.68 in the after-market trading. The shares regained after it hit a new 52-week low of $2.37 during Monday's regular trading.
Brocade Communications Systems, Inc. (BRCD) stock gained 5.82 percent to $4.73 in the after-market trading. Adjusted earnings for the fourth quarter was $78.7 million or $0.16 per share, up from $64.7 million or $0.13 per share last year. Revenue rose to $550.5 million from $548.6 million. Analysts had expected profit of $0.10 per share on revenue of $527.38 million. Looking ahead into the first quarter, the company expects adjusted earnings of $0.12 to $0.14 per share and revenue of $530 million to $550 million, while Street predicts profit of $0.11 per share on revenue of $535.29 million. The company expects to see the full EPS benefit of the $200 million share repurchase in its first quarter results and anticipates using more of its available cash for debt reduction.
Brocade achieved outstanding results in Q4 that were led by record revenues for our Ethernet business, fast adoption of our 16 Gbps Fibre Channel products, improvements in profitability, and a record cash flow quarter from operations, said Michael Klayko, Chief Executive Officer of Brocade. These strong performances demonstrate that we are executing well on our long-term strategy. Looking at fiscal 2012, we plan to leverage this momentum along with our highly differentiated innovation strategy, expanding product portfolio, and our strong routes to market.
United Community Banks, Inc. (UCBI) stock increased 4.15 percent to $7.02 in the after-market trading.
AsiaInfo-Linkage, Inc. (ASIA) stock rose 3.12 percent to $8.2396 in the after-market trading.
Cninsure Inc. (CISG) stock plunged 17.20 percent to $6.50 in the after-market trading. Earnings from continuing operations for the third quarter fell 22.5 percent to $12 million, while earnings from continuing operations per American Depository Share (ADS) slid 21.6 percent to $0.241. Adjusted earnings rose 5.3 percent to $16.7 million, while adjusted earnings per ADS increased 6.7 percent to $0.327. Revenue grew 18.9 percent to $60.2 million. Looking ahead into the fourth quarter, the company expects revenue from continuing operations to grow by about 10 percent to 15 percent from last year.
Perfect World Co., Ltd. (PWRD) stock fell 7.97 percent to $10.51 in the after-market trading. Profit for the third quarter was 143.6 million Chinese yuan or 2.83 Chinese yuan per ADS ($22.5 million or $0.44 per ADS), down from 213.7 million Chinese yuan or 4.05 Chinese yuan per ADS last year. Adjusted earnings were 171.1 million Chinese yuan or 3.37 Chinese yuan per ADS ($26.8 million or $0.53 per ADS), down from 239.2 million Chinese yuan or 4.53 Chinese yuan per ADS last year. Revenue rose to 708.9 million Chinese yuan or $111.2 million from 579.2 million Chinese yuan. Analysts had expected profit of $0.67 per share on revenue of $111.74 million. Looking ahead into the fourth quarter, the company expects revenue of 695 million Chinese yuan to 737 million Chinese yuan.
Newport Corp. (NEWP) stock slid 4.90 percent to $12.24 in the after-market trading.
hiSoft Technology International Ltd. (HSFT) stock decreased 3.86 percent to $10.96 in the after-market trading.
Immunogen Inc. (IMGN) stock declined 3.73 percent to $11.09 in the after-market trading.