The top after-market NASDAQ Stock Market gainers are: Rambus, Momenta Pharmaceuticals, IPG Photonics, Zix, and Citrix Systems. The top after-market NASDAQ Stock Market losers are: Deer Consumer Products, Exide Technologies, CalAmp, Suffolk Bancorp, and EchoStar.
Rambus Inc. (RMBS) stock jumped 12.57 percent to $8.24 in after-market trading. The company said it signed a five-year patent license agreement with Broadcom Corp. (BRCM) pertaining to the use of its patented innovations in a slew of integrated circuit products offered by Broadcom. Other terms of the agreement were not disclosed. In addition, Rambus said the two companies have settled all outstanding claims, including resolution of past use of Rambus' patented innovations.
Momenta Pharmaceuticals Inc. (MNTA) stock gained 5.76 percent to $18 in after-market trading. Baxter International Inc. (BAX) and Momenta Pharmaceuticals said they have entered into a global collaboration to develop and commercialize follow-on biologic products, also known as biosimilars. Biosimilars replicate existing, branded biologics used in the treatment of a variety of diseases including cancer, autoimmune disorders and other chronic conditions. With this collaboration, Baxter will leverage its leading clinical development and biologic manufacturing expertise, global leadership in sterile injectables and global commercial capabilities, while Momenta will provide its expertise in high-resolution analytics, characterization, and product and process development.
Under the terms of the agreement, Baxter will make an upfront cash payment of $33 million to Momenta related to the collaboration for up to six follow-on biologic compounds. Baxter may make additional payments over the next several years for the development of the compounds, contingent upon the achievement of technical, development and regulatory milestones with respect to all six products. Baxter and Momenta expect to close the transaction in the first quarter of 2012, subject to customary closing conditions including the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act.
IPG Photonics Corp. (IPGP) stock increased 4.11 percent to $37.02 in after-market trading. The shares closed Thursday's regular trading up 4.90 percent at $35.56.
Zix Corp. (ZIXI) stock gained 2.04 percent to $3 in after-market trading. The shares closed up 1.03 percent at $2.94 Thursday.
Citrix Systems, Inc. (CTXS) stock increased 2.03 percent to $61.32 in after-market trading.
Deer Consumer Products, Inc. (DEER) stock slid 6.07 percent to $4.8184 in after-market trading. The shares closed Thursday's regular trading up 21.85 percent at $5.13.
Exide Technologies (XIDE) stock declined 5.70 percent to $2.631 in after-market trading. The shares closed up 10.71 percent at $2.79 Thursday.
CalAmp Corp. (CAMP) stock decreased 4.48 percent to $4.90 in after-market trading. Profit for the third quarter was $1.7 million or $0.06 per share, compared to a loss of $0.2 million or $0.01 per share last year. Adjusted profit was $2.6 million or $0.09 per share, up from $0.7 million or $0.02 per share last year. Revenue grew 10.8 percent to $32.8 million. Analysts had expected profit of $0.03 per share on revenue of $32.25 million. Looking ahead into the fourth quarter, the company expects earnings of $0.03 to $0.07 per share, adjusted earnings of $0.06 to $0.10 per share and revenue of $34 million to $38 million, while Street predicts profit of $0.04 per share on revenue of $34.18 million. For the fourth quarter, the company expects its new home video and data networking product to drive improved revenue and profit for the satellite business segment.
Suffolk Bancorp (SUBK) stock declined 4.07 percent to $10.399 in after-market trading. The shares closed Thursday's regular trading up 5.76 percent at $10.84.
EchoStar Corp. (SATS) stock decreased 3.92 percent to $20.35 in after-market trading. The shares closed up 4.08 percent at $21.18 Thursday.