After Hours Summary: HBAN +11.1% MBI -6.5% (Moody's downgrades MBIA's rating; outlook is negative); ABK -4.4% (Moody's cuts Ambac Assurance)

Thursday, June 19, 2008

Companies trading down in reaction to earnings: SMOD -2.2%... Companies trading higher in after hours in reaction to news: OZRK +13.2% (reaffirms guidance); HBAN +11.1% (announces Q2 net charge-off and loan loss provision expectations; confirms Franklin Credit Mgmt relationship continues to perform to expectations); YMI +9.2% (announces FDA lifts clinical hold on Aerolef and cleanrace of a Phase II Clinical Trial); TRBN +2.3% (announces extension of research period under its Wyeth collaboration); FNBN +1.4% (declares quarterly cash dividend of $0.10/share, down from previous dividend of $0.15/share); TONE +1.1% (declares quarterly cash dividend of $0.04/share, a reduction from previous $0.08/share quarterly level): FLIR +0.8% (receives $25.4 mln IDIQ contract from the Naval Surface Warfare Center); PTEK +0.7% (announces PokerPro contracts across Bulgaria); RIG +0.6% (announces contract extension for GSF Development Driller II)... Companies trading lower in reaction to news: MBI -6.5% (Moody's downgrades MBIA's rating to A2; outlook is negative - Moody's); FLE -5.4% (announces offering of 12,000,000 shares of common stock); ABK -4.4% (Moody's cuts Ambac Assurance to Aa3 vs Aaa - Moody's); CAL -3.9% (announces pricing of public equity offering at $14.80); ARII -2.0% (announces joint venture agreement with Amtek Auto to manufacture railcars in India); CINF -1.6% (sees net written premiums to be as ~5% below the prior year; co's current assessment suggests that it may not be in its best interest to sell FITB immediately); CYTK -1.5% (announces third extension of research term under collaboration with GlaxoSmithKline); STEI -1.0% (announces $25 mln increase increase in stock repurchase program); SONS -0.9% (acknowledges receipt of communication from Legatum Capital); OMPI -0.9% (names Preston Romm Chief Financial Officer); SNS -0.6% (announces appointment of new chairman of the board).