After Hours Summary

Tuesday, May 20, 2008

After Hours Summary: DRYS +3.1% on earnings; FNM 0.0% (ratings removed from CreditWatch; some affirmed, others lowered at S&P)

Companies trading higher in after hours in reaction to earnings: NCTY +9.5%; DRYS +3.1%... Companies trading down in reaction to earnings: LORL -19.6%; GRRF -13.0%; CNTF -12.7%; AVAN -4.2%; ASFI -1.4%... Companies trading higher in after hours in reaction to news: GNK +3.1% (announces plan to sign time charter for Panamax vessel at a rate of $55,250/day for 35-37.5 months); HALO +2.5% (presents pre-clinical studies on dermal remodeling with HTI-501, a lysosomal proteinase); AMTD +2.4% (reports monthly metrics; client trades up 17% from April 2007, down 3% from March); AMGN +1.8% (announces denosumab osteoporosis study meets primary and all secondary bone mineral density endpoints in Alendronate (FOSAMAX) transition study); CXW +1.2% (announces contract award from the Office of Federal Detention Trustee; construction estimated at cost of $83.5 mln); GIVN +1.0% (announed that a study confirms PillCam COLON's potential as a complement to colonoscopy to increase colo-rectal screenings); FNM 0.0% (ratings removed from CreditWatch; some affirmed, others lowered at S&P)... Companies trading lower in reaction to news: TMA -4.4% (to announce Q1 earnings by June 2, 2008; anticipates it will report a substantial net loss for the quarter ended March 31, 2008); NUE -2.0% (commences a 25 mln share common stock offering); CHK -1.6% (announces offering of $800 mln of senior notes); UDRL -1.5% (files for 5 mln share common stock offering and for resale of up to ~10.7 mln shares common stock by selling stockhold); ACTS -1.2% (announced as the exclusive MPR chip provider).