Atlanta Journal Constitution
Citigroup's shares dropped 24 cents, or nearly 7 percent, to $3.21 in after-hours trading after closing at $3.45. The discount reflected investors' ...
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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
STARLIMS Technologies (NASDAQ: LIMS), a provider of laboratory information management systems. is being acquired by Abbott (ABT) for $123 million in cash or $14.00 per share. This is after a $9.50 close on Monday, so this is a obviously huge gain. At 8:19 AM EST we have seen some 141 shares trade hands for a 45% gain to $13.78. Its prior 52-week trading range was $3.21 to $11.00 and the average volume was actually less than 10,000 shares per day. -Jon Ogg