The top after-market NASDAQ Stock Market gainers are: Semtech, Deer Consumer Products, United Security Bancshares, Level 3 Communications, and NetApp. The top after-market NASDAQ Stock Market losers are: Sigma Designs, Rigel Pharmaceuticals, Amedisys, Novavax, and Altera.
Semtech Corp. (SMTC) stock grew 7 percent to $29.20 in after-market trading. Adjusted profit for the first quarter was $30.0 million or $0.45 per share, up from $22 million or $0.35 per share last year. Revenue grew 20.1 percent to $122.4 million. Analysts had expected profit of $0.43 per share on revenue of $119.05 million for the first quarter. The company expects second quarter adjusted earnings of $0.47 to $0.49 per share and revenue of $127 million to $131 million, while Street predicts profit of $0.46 per share on revenue of $124.72 million.
Deer Consumer Products, Inc. (DEER) stock grew 6.30 percent to $7.76 in the after-market trading.
United Security Bancshares (UBFO) stock gained 5.13 percent to $3.28 in the after-market trading.
Level 3 Communications Inc. (LVLT) stock increased 5 percent to $2.31 in the after-market trading. The company said Level 3 Escrow, Inc., its newly formed subsidiary, intends to offer $500 million of senior notes that would mature in 2019 and would bear interest at a fixed rate in a proposed private offering to qualified institutional buyers.
The gross proceeds from the offering of the notes would be deposited into a segregated escrow account until the date on which certain escrow conditions, including, but not limited to, the substantially concurrent consummation of the acquisition by Level 3 of Global Crossing Limited and the assumption of the notes by Level 3 Financing, Inc., a subsidiary of Level 3 and the parent company of Level 3 Escrow, are satisfied.
NetApp, Inc. (NTAP) stock rose 3.61 percent to $53.60 in the after-market trading. Adjusted profit for the fourth quarter was $236.7 million or $0.59 per share, up from $183.1 million or $0.50 per share last year. Revenue rose to $1.43 billion from $1.17 billion. Analysts had expected profit of $0.53 per share on revenue of $1.39 billion. The company expects first quarter adjusted earnings of $0.52 to $0.57 per share and revenue of about $1.5 billion, plus or minus 3 percent, while Street predicts profit of $0.50 per share on revenue of $1.39 billion.
Sigma Designs, Inc. (SIGM) stock fell 8.55 percent to $10.06 in the after-market trading. Adjusted profit for the first quarter was $2.3 million or $0.07 per share, down from $9.2 million or $0.29 per share last year. Revenue fell 7 percent to $60.63 million. Analysts had expected profit of $0.17 per share on revenue of $62.95 million. Closer relationships with service providers enabled the company to have better visibility into design cycle windows, and win important new designs, which are expected to positively impact revenues later this fiscal year, said Thinh Tran, Chief Executive Officer of Sigma Designs.
Rigel Pharmaceuticals, Inc. (RIGL) stock tumbled 5.18 percent to $8.05 in the after-market trading. The company said it plans to offer and sell shares of its common stock in an underwritten public offering. All of the shares in the offering are to be sold by Rigel. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering. Jefferies & Company, Inc. and J.P. Morgan Securities LLC are acting as joint book-running managers for the proposed offering, with Piper Jaffray & Co. acting as co-manager.
Amedisys Inc. (AMED) stock declined 1.79 percent to $29.60 in the after-market trading.
Novavax, Inc. (NVAX) stock decreased 1.69 percent to $2.32 in the after-market trading.
Altera Corp. (ALTR) stock moved down 1.54 percent to $45.77 in the after-market trading.