After-Hours Price/Volume Leaders (AA, CENTA, CPHD, CYTX, DRWI, GENZ, KLIC, ONXX)

Posted in after-hours 
October 7th, 2010

This Thursday marks the unofficial launch of earnings season and there are many stocks on the move.  Some are earnings, some are not.  We are tracking after-hours moves in shares of Alcoa Inc. (NYSE: AA), Central Garden & Pet Company (NASDAQ: CENTA), CEPHEID (NASDAQ: CPHD), Cytori Therapeutics, Inc. (NASDAQ: CYTX), DragonWave Inc. (NASDAQ: DRWI), Genzyme Corporation (NASDAQ: GENZ), Kulicke & Soffa (NASDAQ: KLIC), and Onyx Pharmaceuticals, Inc. (NASDAQ: ONXX).  Timestamps are between 5:20 and 5:25 PM EST on all quotes…

Alcoa Inc. (NYSE: AA) beat muted earnings expectations and talked up demand for aluminum from 12% to 13%… Shares are now trading up 2.95 at $12.55 and there have been as much as 2.6 million shares since the 4PM closing bell.

Central Garden & Pet Company (CENTA) appears to be a mis-quote or mis-print or a trade error from an after-hours trader as the stock appears to be up 19.9% to $12.81 but only on 4,500 shares since the close.  The close was $10.83 and the bid-ask spread is a mile apart on this one.

CEPHEID (NASDAQ: CPHD) may be a head-fake as well as the stock looks like it is getting crushed after it announced that it will collaborate with Novartis (NVS) on chronic myelogenous leukemia.  Unfortunately it appears that this is an $8 million deal, which is not more than a line-item for a company that had a market cap of $1.16 billion before the news.  Shares are down about 47% at $10.22 on only about 15,000 shares after the 4PM closing bell.    The after-hours prints now appear to be coming in at $18.26 for a 6% loss rather than the after-hours crush originally seen.

Cytori Therapeutics, Inc. (NASDAQ: CYTX) is getting hit after disclosing that it plans to have a secondary offering of its stock.  Shares are trading down 12% at $4.68 on 60,000 shares since the 4PM closing bell.

DragonWave Inc. (NASDAQ: DRWI) had a good day with a 5% gain and then came positive earnings news.  Shares are up another 6% at $7.07 on almost 30,000 shares since the 4PM close.

Genzyme Corporation (NASDAQ: GENZ) may be delusional since no one else is a buyer-apparent, but the company has formally rejected Sanofi-Aventis (NYSE: SNY) and its $69 cash bid.  It now is exploring alternatives and will seek a formal sale process to other buyers.  Genzyme shares are up only 0.6% at $72.80 after the close and there have been about 750,000 shares traded since the 4PM close.

Kulicke & Soffa (NASDAQ: KLIC) may have been a deep a value screen stock this morning, but ‘all the bad news that should have been priced in” was not… Shares are down almost 9% at $5.91 on almost 100,000 shares since the 4PM close.

Onyx Pharmaceuticals, Inc. (NASDAQ: ONXX) is delaying its New Drug Application filing with the FDA for carfilzomib and shares are getting hacked by -8.5% at $25.15 on over 500,000 shares since the 4PM close.

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JON C. OGG

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