The top after-market NASDAQ stock market gainers are: Solazyme, DealerTrack Holdings, Amedisys, Central European Distribution, and Kopin. The top after-market NASDAQ stock market losers are: Legacy Reserves, Urban Outfitters, Limelight Networks, Array BioPharma, and Savient Pharmaceuticals.
Solazyme, Inc. (SZYM) stock jumped 17.40 percent to $11 in after-market trading. Adjusted loss for the third quarter was $11.53 million or $0.19 per share, compared to a loss of $8.61 million or $0.74 per share last year. Revenue rose to $8.94 million from $4.63 million. Analysts had expected a loss of $0.22 per share on revenue of $10.39 million. Separately, Solazyme also announced three new non-binding feedstock agreements. These agreements, combined with the company’s previously announced partnership with Bunge, would support the production of 450,000 Metric Tons of annual tailored oil capacity in Brazil and the United States.
These new agreements offer further evidence of both our execution and the compelling value proposition we offer to our partners, said Jonathan Wolfson, Chief Executive Officer of Solazyme, Combined with our Bunge agreement, we have signed four agreements since August that are expected to give us access to the feedstock required to meet 90 percent of our manufacturing capacity targets for 2015.
In addition, Solazyme said that United Airlines flew the world’s first commercial aviation flight on a microbially-derived biofuel using Solajet, Solazyme’s algae-derived renewable jet fuel. The Eco-skies Boeing 737-800 plane was fueled with 40 percent Solajet and 60 percent petroleum-derived jet fuel. Solazyme, which is ramping up production capacity to produce 500,000 Metric Tons of renewable oil by 2015, also signed a Letter of Intent with United to supply up to 20 million gallons per year (about 70,000 Metric Tons) of renewable jet fuel starting in 2014.
DealerTrack Holdings, Inc. (TRAK) stock climbed 10.92 percent to $25.20 in after-market trading. Adjusted profit for the third quarter was $14.7 million or $0.34 per share, up from $6.6 million or $0.16 per share last year. Revenue grew to $95.8 million from $63.1 million. Analysts had expected profit of $0.22 per share on revenue of $88.51 million. Looking ahead into the fiscal 2011, the company raised its adjusted earnings guidance to range of $0.94 to $0.99 per share from previous forecast of $0.81 to $0.86 per share. The company also lifted its revenue outlook to range of $344 million to $347 million from previous range of $336 million to $340 million. Street analysts predict profit of $0.84 per share on revenue of $338.22 million for the fiscal 2011.
Amedisys Inc. (AMED) stock soared 10.71 percent to $10.92 in after-market trading.
Central European Distribution Corp. (CEDC) stock grew 8.82 percent to $3.70 in after-market trading.
Kopin Corp. (KOPN) stock gained 5.72 percent to $4.25 in after-market trading.
Legacy Reserves Lp (LGCY) stock fell 4.66 percent to $28.65 in after-market trading. The company said it plans to sell 3.4 million units in an underwritten public offering pursuant to an effective shelf registration statement on Form S-3 previously filed with the Securities and Exchange Commission. The underwriters have been granted a 30-day option to purchase up to 510,000 additional units. Legacy Reserves LP plans to use the net proceeds of this offering, including the net proceeds from any exercise of the underwriters' option to purchase additional units, to repay outstanding borrowings under its revolving credit facility. UBS Investment Bank, Raymond James and Citigroup will act as joint book-running managers of the offering.
Urban Outfitters Inc. (URBN) stock slid 4.45 percent to $26 in after-market trading. The company reported that its third quarter net sales increased 6 percent to $610 million, while Wall Street analysts expected $629.21 million. Comparable retail segment net sales, which include the direct-to-consumer channels, for the third quarter declined 3 percent, while comparable store net sales decreased 7 percent. Comparable retail segment net sales at Free People increased 14 percent, were flat at Urban Outfitters, and decreased 7 percent at Anthropologie. Direct-to-consumer comparable net sales increased 15 percent and wholesale segment net sales rose 13 percent for the quarter. The company said it will release third quarter earnings results on Nov. 14.
Separately, Urban Outfitters said it appointed David McCreight as Chief Executive Officer of Anthropologie Group, effective Nov. 15. In this new role, McCreight will be responsible for Anthropologie North America, Anthropologie Europe and BHLDN. Anthropologie Brand announced new executive appointments for North America, effective immediately. The Brand's co-president positions have been eliminated. Wendy Wurtzburger, a 13-year veteran of Anthropologie, will continue to serve as its chief merchandising and design officer.
The company named Kristin Norris, a 19-year veteran of the company, as Chief Creative Officer. Denise Albright has been appointed as Chief Operating Officer of Anthropologie Group, having served as Executive Director of Planning and Allocation since she joined the company in 2005. Urban Outfitters appointed Wendy McDevitt as President of Terrain. The company also said Charles Kessler has joined the Urban Outfitters Brand as chief merchandising officer on Oct. 31 and will oversee the merchandising, design and planning organizations for North America.
Limelight Networks, Inc. (LLNW) stock slid 4.32 percent to $2.90 in after-market trading. Loss from continuing operations for the third quarter widened to $6.40 million or $0.06 per share from $5.32 million or $0.05 per share last year. Adjusted loss widened to $2.22 million from $779,000. Revenue rose to $42.35 million from $39.95 million. Analysts had expected a loss of $0.06 per share on revenue of $46.97 million. Looking ahead into the fourth quarter, the company expects revenue of $44 million to $46 million, while Street predicts $47.59 million.
Array BioPharma, Inc. (ARRY) stock declined 4.21 percent to $2.64 in after-market trading.
Savient Pharmaceuticals, Inc. (SVNT) stock decreased 4.01 percent to $3.24 in after-market trading.