The top after-market NASDAQ stock market gainers are: Bed Bath & Beyond, Sequenom, Ener1, GTX, Entropic Communications, Rediff.com India, InterMune, Advent Software, Sina, Sino Clean Energy, and Sonic Solutions.
Bed Bath & Beyond, Inc. (BBBY) advanced 6.61 percent to $50.82 in the after-market trading. The company's third quarter profit was $188.6 million or 74 cents a share, up from $151.3 million or 58 cents a share last year. Sales rose 11.1 percent to $2.2 billion. Analysts had expected profit of 65 cents a share on revenue of $2.11 billion. Comparable store sales increased by about 7 percent.
Bed Bath & Beyond expects fourth quarter earnings of 91 cents to 95 cents a share, while analysts forecast 93 cents a share. The company lifted its full year 2010 earnings guidance to range of $2.86 to $2.90 a share from previous forecast of $2.76 a share, while analysts forecast $2.80 a share.
Bed Bath & Beyond's board of directors has authorized a new $2 billion share repurchase program, commencing in early fiscal 2011 after completion of the existing program. The company expects that the new $2 billion repurchase program will be funded from current cash and from present and future cash flows.
Sequenom Inc. (SQNM) surged 2.85 percent to $7.94 in the after-hours session. The company said its reference laboratory the Sequenom Center for Molecular Medicine has authorized commencement of a pivotal clinical validation study for its SensiGene Trisomy 21 Laboratory Developed Test to detect an overabundance in maternal blood of chromosome 21.
Ener1, Inc. (HEV) soared 2.41 percent to $4.25 in the after-market trading.
GTX Inc. (GTXI) jumped 2.32 percent to $2.65 in the after-hours session.
Entropic Communications, Inc. (ENTR) climbed 2.13 percent to $11.98 in the after-market trading.
Rediff.com India Ltd. (REDF) improved 1.63 percent to $5 in the after-hours session.
InterMune Inc. (ITMN) grew 1.60 percent to $36.88 in the after-market trading.
Advent Software, Inc. (ADVS) gained 1.46 percent to $56.81 in the after-hours session.
Sina Corp. (SINA) increased 1.37 percent to $71.97 in the after-market trading.
Sino Clean Energy Inc (SCEI) rose 1.36 percent to $5.77 in the after-hours session. The company said the underwriters of its public offering of common stock have exercised their over-allotment option, which will result in the issuance of an additional 819,750 common shares. The option was granted in connection with the public offering of 5.465 million common shares at a price of $5.25 a share, which is expected to close on Dec. 28.
Sonic Solutions (SNIC) moved up 0.15 percent to $11.22 in the after-market trading. Rovi Corp. (ROVI) said it agreed to buy Sonic Solutions in a stock and cash transaction having an enterprise value of about $720 million. The transaction values each of Sonic shares at $14.17, a 38.2 percent premium to its 30-day average closing price as of December 21.