The top after-market NASDAQ Stock Market gainers are: SoundBite Communications, America First Tax Exempt Investors, Wet Seal, A. Schulman, and Myrexis. The top after-market NASDAQ Stock Market losers are: American Superconductor, Dollar Financial, Mitcham Industries, Zoltek Companies, and Liquidity Services.
SoundBite Communications, Inc. (SDBT) stock grew 6.12 percent to $2.60 in the after-market trading.
America First Tax Exempt Investors LP (ATAX) stock gained 3.91 percent to $5.85 in the after-market trading.
Wet Seal Inc. (WTSLA) stock gained 3.45 percent to $4.50 in the after-market trading.
A. Schulman, Inc. (SHLM) stock increased 3.39 percent to $26.25 in the after-market trading.
Myrexis, Inc. (MYRX) stock rose 2.86 percent to $3.96 in the after-market trading.
American Superconductor Corp. (AMSC) stock plunged 40.35 percent to $14.84 in the after-market trading, as it guided fourth quarter loss due to refusal by Sinovel Wind Group Co. to accept contracted shipments. On March 31, Sinovel Wind Group refused to accept contracted shipments of 1.5 megawatt and 3 megawatt wind turbine core electrical components and spare parts that American Superconductor was prepared to deliver.
The company expects fourth quarter revenue to be less than $42 million and that it will generate a net loss on both a GAAP and non-GAAP basis. Street analysts predict profit of 33 cents a share on revenue of $119.13 million.
American Superconductor lowered its full year 2010 revenue guidance to less than $355 million from previous forecast of $430 million to $440 million. The company now expects earnings to be well below its previous guidance of $0.99 to $1.04 a share, and adjusted earnings to be well below its previous forecast of $1.33 to $1.38 a share. Analysts currently predict profit of $1.33 a share on revenue of $431.95 million.
AMSC continues to have active discussions with Sinovel to determine when Sinovel will accept further shipments and when it will pay for past shipments. In the meantime, AMSC has taken certain actions to reduce expenses, and the company is in the process of implementing plans to better align spending with near-term revenues while continuing to maintain a high level of service and support for its global Wind and Grid customers.
Dollar Financial Corp. (DLLR) stock fell 5.33 percent to $20.61 in the after-market trading, as it began an underwritten public offering of 5 million shares of its common stock. The company plans to grant to the underwriters a 30-day option to purchase up to an additional 750,000 shares of common stock to cover over-allotments, if any.
The company said it intends to loan the net proceeds of the offering to its subsidiary, Dollar Financial U.K. Ltd., to enable it to repay a portion of the amounts it initially borrowed under the company's global revolving credit facility in connection with the closing of the acquisition of Purpose U.K. Holdings Ltd.
Mitcham Industries Inc. (MIND) stock slid 4.42 percent to $12.98 in the after-market trading. Profit for the fourth quarter was $1.8 million or 17 cents a share, up from $0.6 million or 6 cents a share last year. Excluding the impact of a $1.0 million charge to provision for doubtful accounts, earnings for the latest quarter were $2.3 million or 23 cents a share. Revenue rose 14 percent to $19.7 million. Analysts had expected profit of 21 cents a share on revenue of $20.64 million.
Zoltek Companies Inc. (ZOLT) stock declined 2.95 percent to $13.15 in the after-market trading.
Liquidity Services, Inc. (LQDT) stock decreased 2.80 percent to $19.10 in the after-market trading.