24/7 Wall St. has tracked several key stocks on the move in Monday’s after-hours trading session. There are other stocks on the move, but these were the top movers that we saw. Some of these stocks may change directions before Tuesday’s open. We have shown a synopsis of the news and how shares initially reacted.
Buckeye Partners, L.P. (NYSE: BPL) announced that it has commenced a public offering of 2,600,000 limited partnership units. Buckeye intends to use the net proceeds from this offering to reduce the indebtedness, but investors are not acting impressed – the units closed up 1.1%at $78.98, but those units were down over 3% at $76.50 in the after-hours reaction.
Dealertrack Technologies, Inc. (NASDAQ: TRAK) reported its second quarter financials Monday after the market closed resulting in a solid uptick. Revenue this quarter was reported at $224 million which is a significant increase from the previous year recorded at $ 121.8 million. The diluted net income per share this quarter was $0.41 marking a rise from last year at $0.37. In light of these positive earnings, Dealertrack has traded as high as 11.95% above its close in the after-hours.
Hi-Crush Partners LP (NYSE: HCLP) was trading down about 1% is all after announcing an underwritten secondary public offering of 3.26 million units. The sale is coming from High-Crush Proppants as the selling unitholder, which owns the partnership’s general partner interest.
Insmed Incorporated (NASDAQ: INSM) announced today that it has commenced an underwritten public offering of $80 million of its common stock. All of the shares of common stock in the offering are to be sold by Insmed. Shares were indicated down around $11.70, but the 52-week range of $10.16 to $22.29 may be acting as a bit of a buffer.
Intercept Pharmaceuticals, Inc. (NASDAQ: ICPT) is a soaring biotech after earnings and after a business update. The stock was halted with a 1% gain to $237.18 on the day, but it posted revenue and earnings ahead of expectations. We would caution that the after-hours prices could be exacerbated by its super-high stock price. That being said, Intercept shares were up over 20% around $290 in the after-hours session.
Millennial Media, Inc. (NYSE: MM) is down in the after-hours by 9.1% after having a rocky day in the market. This stock reacted negatively to earnings yet again – a common theme. Oh, and it lost money in the quarter. Millennial Media shares were down 2.3%at $2.95 on the day, and the stock is down another 8.5% at $2.70 in the after-hours reaction. Keep in mind that this will mark a new 52-week low under $2.90 if the stock doesn’t recover.
Nuance Communications, Inc. (NASDAQ: NUAN) traded down in the after-hours as shares fell 8.3%. Revenues for Nuance missed the analysts’ mark of $500 million to the tune of $486.8 million. The earnings per share was on point for the consensus. Attributable to the lack of revenue for this quarter were a large amount of bookings and resulting in deferred revenue.
Sprouts Farmers Market, Inc. (NASDAQ: SFM) has announced an underwritten public offering of 15,000,000 shares of its common stock by affiliates of Apollo Global Management. The selling stockholders will receive all of the proceeds from the offering. Sprouts rose by 2.8% on Monday, but the shares were down about 3.5% at $31.39 initially after the stock was halted.