Tuesday, March 4, 2008

After Hours Summary: PDLI -18.6 on earnings/news; ABK +2.6% (says unlikely to announce any capital raising deal Tuesday, according to source -- Reuters); PDLI -18.6% (ends sale process for co and restructures to focus on antibody discovery and development); SLM -1.0% (S&P removes SLM rating from credit watch; outlook stable -- DJ) -Update-

Companies moving in after hours trading in reaction to earnings: Trading Up: MFB +10.2%; CAP +6.5%; SMTC +6.2%; GOLF +3.1%; DIET +2.6%; SALM +2.4%; KONG +1.5%... Trading Down: PDLI -18.8%; IDSY -8.8%; HLYS -6.1%; KCP -3.2%; RNIN -2.7%; LMAT -1.9%; TUTR -1.5%; NAVI -1.0%... Companies moving in after hours trading in reaction to news: Trading Up: PANC +21.7% (announces discovery of bevirimat patient response predictors; completed phase 2b dose escalation study determines optimal dose range); GRA +13.5% (announces CFO succession plan; Hudson La Force to succeed Robert Tarola); JAV +11.1% (Board appoints Martin Driscoll as Chief Executive Officer); SCON +7.7% (closes on $15.0 mln investment by Hunchun BaoLi Communication); SMTC +6.2% (announces new $50 mln stock buyback plan); DIVX +3.3% (announces stock repurchase program of up to $20 mln of common stock); ABK +2.6% (says unlikely to announce any capital raising deal Tuesday, according to source -- Reuters); AVA +1.8% (requests increase in Electric and Natural gas prices in Washington)... Trading Down: PDLI -18.6% (ends sale process for co and restructures to focus on antibody discovery and development); FIX -8.2% (announces it has acquired Merit Mechanical); OSTE -5.7% (signs agreement to distribute Harvest Technologies' BMAC System); WCI -4.2% (provides preliminary Q4 data); CLMS -2.5% (releases comment on auction rate securities market); COWN -1.5% (Kim Fennebresque, Chairman and Chief Executive Officer retires); HSWI -1.3% (announces it has closed two separate previously announced transactions for $16.56 in additional equity financing); ARB -1.2% (Chairman and Chief Executive Officer adopts 10b5-1 trading plan); AWBC -1.1% (director establishes 10b5-1 stock sale plan); SLM -1.0% (S&P removes SLM rating from credit watch; outlook stable -- DJ); SE -1.0% (enters into agreement to take Spectra Energy Income Fund private at CDN $11.25 per unit in cash; co expect it to be accretive to SE's 2009 EPS by $0.01); MAT -1.0% (to issue $350 mln