After Hours Summary: SNDK -13.6%, AXP -11.0%, MRK -6.0% and SGP -3.2% on earnings; AAPL -11.1%; TXN -11.0% on earnings/guidance

Monday, July 21, 2008

Companies trading higher in after hours in reaction to earnings: WGVO +5.4%; FNB +4.9%; PKG +4.0%; KTII +3.0%; BOOT +2.6%... Companies trading lower in after hours in reaction to earnings: SNDK -13.2%; EXP -12.1%; AAPL -11.1%; TXN -11.0%; AXP -11.0%; MRK -6.4%; MHK -3.5%; SGP -3.2%; WASH -3.0%; HXL -2.0%; LNCR -1.5%; AMLN -1.1%... Companies trading higher in after hours in reaction to news: BXG +108.4% (announces it has signed a non-binding letter of intent relating to the acquisition of the co at a price of $15.00/share by Diamond Resorts); FDRY +32.4% (Brocade announces definitive agreement to acquire Foundry Networks for $19.25 a share); PDE +3.7% (SeaDrill discloses 5.0% stake in 13D filing; confirms Nordea Bank and SeaDrill transaction); WCG +1.3% (Co to restate 2004, 2005, 2006 and 1Q07 and 2Q07 financials); PNRA 4.7% Holder Shamrock Activist Value Fund discloses actions they believe would enhance shareholder value)... Companies trading lower in reaction to news: WB -4.6% (Co says its Wachovia mortgage unit to discontinue wholesale mortgage lending -- Reuters); PAAS -3.7% (reports that expected commissioning of its newest silver mine will be delayed approximately 90 days); GBTS -2.8% (files mixed securities shelf of up to $50 mln); YHOO -1.9% (Yahoo! discloses in 8-k further terms of Icahn Parnters agreement).