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Case in point.. take a look at where First Solar is investing. A-Power Energy is surging 10% in after hours trading.
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Hovnanian Enterprises Inc. (NYSE: HOV) is getting clipped in after-hours trading after its earnings release, although not as hard as it had been earlier in the after-hours session. Shares closed up 11% at $4.23 on stronger housing starts, but shares are down 6% at $3.97 as of 4:50 PM EST. Revenue was down almost 40% to $437.4 million. The net loss was $250.8 million, or -$3.21 EPS. We had losses expected at only -$1.72 EPS from Thomson Reuters. Shares had been off 11% in the after-hours. The company noted a sales backlog of $559.6 million in value, but it also noted that its cancellation rate was still 24%.
JON OGG
Delta Petroleum Corp. (NASDAQ: DPTR) is no stranger to cult stock moves if you followed it through the energy price bubble from 2007 to 2008. Shares went over $20.00 in 2006, 2007 and 2008. Now they sit at a mere $1.17, but that is after a 10% gain as of 8:38 AM EST on over 3.2 million shares. Average volume is 11 million shares, but there has been strange trading activity in the stock in the last two sessions. Here is the price action in the last three sessions:
DEC-15Â Â Â 25,418,400Â $1.06
DEC-14Â Â Â 8,633,800Â Â $0.90
DEC-11Â 3,929,400Â Â $0.77
JON OGG
GigaMedia Ltd. (NASDAQ: GIGM) is surging this morning after the company announced a strategic alliance with European online gambling player Mangas Gaming. Shares are up 10% at $4.17 on 150,000 shares as of 7:42 AM EST. This stock is actually closer to lows than highs as its 52-week trading range is $3.49 to $7.73. Average volume here is close to 800,000 shares per day.
JON OGG