The top after-market NASDAQ stock market losers are: Zoltek Companies, Seagate Technology, Maxygen, Comverge, China Medical Technologies, Porter Bancorp, TICC Capital, Approach Resources, Shanda Games, and Johnson Outdoors.
Zoltek Companies Inc. (ZOLT) lost 12.98 percent to $8.65 in the after-hours trading. The company's fourth quarter loss narrowed to $426,000 or 1 cent a share from $3.8 million or 11 cents a share last year. Sales decreased 8 percent to $31.1 million. Analysts had expected a loss of 2 cents a share on revenue of $43.14 million.
Seagate Technology PLC (STX) plunged 5.99 percent to $13.03 in the after-market session. The company said it ended talks with private equity firms regarding a going private deal, as the valuation being offered was not in the best interest of the company and its shareholders.
Seagate also said its board has authorized repurchase of up to an additional $2 billion of its outstanding ordinary shares to boost shareholder value. The company expects second quarter revenue of about $2.7 billion and gross margin of at least 19.5 percent. Analysts expect revenue of $2.70 billion.
Maxygen, Inc. (MAXY) plummeted 5.86 percent to $6.38 in the after-hours trading.
Comverge, Inc. (COMV) fell 5.52 percent to $6.51 in the after-market session. The company said in a regulatory filing that it has entered into an amendment with Consolidated Edison Company of New York, Inc. to one of its four demand side management contracts.
Comverge said the amendment reduces the total expectation for the contract by 29 megawatts for a delivery of a net 13 megawatts of load reduction, and significantly reduces the potential for payment of liquidated damages. The amendment reduces the estimated future revenues from this long-term contract by about $29 million over the balance term of the agreement.
Comverge and its subsidiaries entered into a fourth amendment to its existing loan and security agreement with Silicon Valley Bank. Comverge paid a loan modification fee of $50,000 in connection with Silicon Valley Bank amendment.
China Medical Technologies Inc. (CMED) dropped 5.09 percent to $12.87 in the after-hours trading. The company said it proposes to offer up to $100 million of convertible senior notes due 2016 in a private placement. The company expects to enter into a capped call transaction relating to US$100 million of the notes with an affiliate of the initial purchaser.
Porter Bancorp Inc. (PBIB) tumbled 4.45 percent to $10.51 in the after-market session.
TICC Capital Corp. (TICC) declined 4.21 percent to $10.70 in the after-hours trading. The company said it began a public offering of 4 million common shares. Net proceeds to be used for general corporate purposes, which may include investing in debt or equity securities, and other general corporate purposes, including working capital requirements.
Approach Resources, Inc. (AREX) decreased 3.55 percent to $18.22 in the after-market session.
Shanda Games Ltd. (GAME) moved down 3.16 percent to $5.51 in the after-hours trading. The company's third quarter profit was $43.1million or 15 cents per ADS, down from $45.4 million or 20 cents per ADS last year. Revenue declined 14 percent to $163.6 million. Analysts had expected profit of 18 cents per ADS on revenue of $159.59 million.
Johnson Outdoors Inc. (JOUT) fell 3.16 percent to $11.82 in the after-market session.