Top 7 After-Hours Stocks on the Move for Thursday
Thursday may have been a day where gains turned into losses by the closing bell, but there were many stocks on the move after the closing bell. 24/7 Wall St. has focused on the top seven news stories generating key stocks on the move. We have included a snippet of the news and how shares have reacted in the after-hours trading session.
These stocks may be among the top movers on Friday morning, particularly if the unemployment report is grossly different than expected.
Infoblox Inc. (NYSE: BLOX) saw its stock surge higher after reporting earnings. The long and short of the matter is that it beat earnings estimates and revenue estimates for the fourth quarter. Guidance for the first quarter is also ahead of estimates. This is favorable considering that the stock was close to a post-IPO low and that its expectations may have been low. Infoblox closed down 1.1% at $13.58 against a 52-week range of $11.67 to $48.97, but the after-hours reaction was up 10.5% at $15.00 or so.
Finisar Corp. (NASDAQ: FNSR) fell in the after-hours Thursday after it reported earnings. The company nearly made its earnings today posting $327.6 million against an estimate of $328.6 million. But this was not the cause for alarm as much as the guidance that was given by the CFO. The outlook going forward for the next quarter was guided below analyst expectations. Investors did not take to the guidance well and have since pushed the stock down 3.7% to $17.69.
The Gap, Inc. (NYSE: GPS) traded down in the after-hours following its announcement on same store sales. Gap reported a total net sales of $1.23 billion for the month of august which compared to last year’s numbers is flat. The numbers from last year also posted a 2% increase compared to the 2% decrease this year. As a result investors have taken this information to the after-hours market and pushed the share price down 5.4% to $44.04. Gap had seen over 400,000 shares trade after an hour and 15 minutes since the close.
Michael Kors Holdings Ltd. (NYSE: KORS) fell after the close on news that the founding shareholder group Sportswear Holdings would offer 11.6 million shares in a secondary offering. Kors also announced that it was losing two board members in connection with this offering. Kors shares were up 1.58% at $79.97 on Thursday against a 52-week range of $70.59 to $101.04, but the after-hours reaction had shares down almost 4% at $76.96 after an hour and 15 minutes of the close. This was very active with close to 400,000 shares traded since the close.
OncoMed Pharmaceuticals, Inc. (NASDAQ: OMED) was up more than 4% initially on news that the FDA removed the partial clinical hold on OncoMed’s Ipafricept. This drug is to be a combination study in pancreatic, hepatocellular, and ovarian cancers. After closing down over 5% at $17.68 on Thursday, OncoMed’s after-hours reaction was up almost 4% around $18.30 after about 1 hour and 10 minutes from the close.
Quicksilver Inc. (NYSE: ZQK) has taken a beating in the after-hours market dropping 14.5%. Earnings were to blame for this shift, the company missed its estimates by $0.23 in its earnings per share. Quicksilver posted its earnings per share at -$0.20 and Thomson Reuters estimate was $0.03. The share price in the after-hours has dropped as far as $2.43 when it closed at $2.83.
Zumiez Inc. (NASDAQ: ZUMZ) traded only marginally higher on Thursday, but its stock was down about 5% at $30.80 on last look after about an hour and 20 minutes after the close. The headline looked ok as the company beat earnings by 3-cents per share, but light revenues and light guidance for the quarter ahead killed that.