Gainers
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Five Prime Therapeutics Inc (NASDAQ: FPRX) traded
up more than 2 percent immediately following after-hours news. However, the stock is now unchanged compared to Wednesday's
closing price. The company announced a Phase 1a/1b data abstract for its cabiralizumab was selected for a late-breaking oral
presentation at SITC meeting.
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XL Group Ltd. (NYSE: XL) up 4.2 percent as the
company offered a loss estimate related to the 2017 hurricane season: $1.33 billion. Total catastrophe losses for the third
quarter are estimated at $1.48 billion.
Losers
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Protagonist Therapeutics Inc (NASDAQ: PTGX) down
12 percent on the heels of a common stock offering. An amount for the offering was not disclosed.
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NanoString Technologies Inc (NASDAQ: NSTG) down
9.8 percent after the company gave preliminary third-quarter guidance which was below the Wall Street consensus estimate.
NanoString is expecting third-quarter sales in the $25.9-$26.9 million range, compares to the analyst consensus estimate of
$27.7 million. NanoString also reduced its Q3 Product & Service sales guidance from $19.5-$21.5 million to around $16.9
million.
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Kandi Technologies Group Inc (NASDAQ: KNDI) down
nearly 6 percent following an S-3 filing showing registration for a $300 million mixed securities shelf offering.
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J.Jill Inc (NYSE: JILL) down 34.5 percent following
weak Q3 guidance: sees adjusted earnings $0.08-$0.10 per share vs the sell-side consensus estimate of $0.19.
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Blackhawk Network Holdings Inc (NASDAQ: HAWK)
down 6.7 percent amid seemingly strong quarterly results, but guidance which missed the mark. The company reported
third-quarter adjusted EPS of $0.18 on sales of $208.3 million vs the $216.13 million analyst estimate. Blackhawk is expecting
FY17 adjusted EPS $1.56-$1.70 vs the $1.68 estimate. Sales for the year are expected between $940 million and $981 million
compared to the analyst consensus estimate of $1.11 billion.
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Juniper Networks, Inc. (NYSE: JNPR) down 2.5
percent amid reduced guidance: lowered sales outlook from $1.29-$1.35 billion to $1.25-$1.26 billion. Adjusted EPS guidance was
reduced from $0.55-$0.61 to $0.54-$0.56.
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Helios and Matheson Analytics Inc (NASDAQ: HMNY)
down 3.5 percent following a five-day rally which has the stock up about 150 percent. Shares recently began moving higher
following a Mashable report on October 5 which suggested Netflix could raise prices again. On Wednesday, Citron Research's
Andrew Left issued a short call on the stock, but despite this, the stock closed up 18 percent for the session.
After-hours price action occurs in an environment where fewer traders are participating in price discovery. Amid this lack of
activity and liquidity in certain stocks, experienced traders will sometimes attempt to manipulate sentiment by placing an order at
a price markedly different than a stock's closing price or last price.
It's conceivable less savvy investors could see this price action, assume the sharply higher or lower indication is a signal of
news, buy or sell the stock, and ask questions later. This is one reason after-hours price action can sometimes evaporate by the
next day's morning trading session (i.e. there is no news -- just trading activity).
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