We have many shares moving in the after-hours session this Tuesday evening. Not all are earnings, but keep in mind that this was on the heels of a 400+ point rally in the DJIA. Tonight’s after-hours leaders are as follows:
Bank of America Corporation (NYSE: BAC) was up almost 1% at $7.66 in the after-hours session on more than 15 million shares in the hour after the close. CEO Brian Moynihan defended the bank’s finances and the bank’s capital on a CNBC interview, but keep in mind that the rally back was 16% today during normal trading hours.
Cree Inc. (NASDAQ: CREE) is higher after beating earnings even though guidance looked soft on first look. Shares rose 10% to $29.49 today and the after-hours reaction to the earnings was up 5.8% to $31.30 this evening.
Demand Media, Inc. (NYSE: DMD) enjoyed a 7% gain on the day, but it announced after the close that it was extending its advertising relationship with Google and that had shares up almost 17% at $10.50 as many have feared that Google would penalize it for accusations of content farming. The post-IPO range is $7.65 to $27.38.
MBIA Inc. (NYSE: MBI) has moved around a bit after a near-90% drop in earnings. The numbers were distorted due to prior gains and aided by cost cuts in the current quarter. Shares were up 2,9% today and the after-hours reaction has shares down 1.3% at $6.65.
Motricity, Inc. (NASDAQ: MOTR) has been a rough stock and the rough patch is getting even rougher. The company missed earnings expectations and announced a CFO transition… Shares appear to be down by HALF… That is -55% at $2.05 versus a prior 52-week range of $4.18 to $31.95.
Vitesse Semiconductor Corporation (NASDAQ: VTSS) rose substantially in the after-hours. While revenues were lower, the company returned to profitability and margin rose. Shares were up 19% at $3.92 in the after-hours session.
Walt Disney Co. (NYSE: DIS) managed to perform on earnings growth of 11%, but the studio segment decline on Cars 2 cancelled out the gains of theme parks and TV. Shares were down almost 2% at $34.10 in the after-hours session but that was on the heels of a 5% gain with a strong DJIA on Tuesday.
JON C. OGG
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