After-Hours Movers 9/16: SanDisk (SNDK) Up On Takeover Offer, AIG (AIG) Lower On Possible Bankruptcy
StreetInsider.com After-Hours Movers:
SanDisk (NASDAQ: SNDK) 55% HIGHER; Samsung Electronics sent a letter to the Board of Directors of SanDisk reiterating its proposal to acquire SanDisk for $26 per share in cash
American International Group, Inc. (NYSE: AIG) 45% LOWER; With the company on the brink of collapse, it is waiting on a decision from the Fed to borrow up to $100 billion. Reports after the close suggested that the US is considering coservatorship as an option.
VeraSun Energy (NYSE: VSE) 16% LOWER; lowers guidance after some of its hedging moves hurt VSE. Vera Sun expects a Q3 loss in the range of $0.40 to $0.65 per share compared to ($0.02) consensus. VeraSun also announced a 20M share offering.
The McClatchy Company (NYSE: MNI) 8% LOWER; approved a reduction in its quarterly dividend from $0.18 to $0.09, payable October 6, 2008 to stockholders of record at the close of business on September 26, 2008. Separately McClatchy announced an additional cost restructuring to reduce its workforce by about 10%, or approximately 1,150
Micron Technology Inc. (NYSE: MU) 8% HIGHER; up on Samsung's bid for SanDisk
J. Crew Group Inc. (NYSE: JCG) 5% HIGHER; will replace ChoicePoint Inc. (NYSE: CPS) in the S&P MidCap 400 after the close of trading on Thursday, September 18, 2008
Wachovia (NYSE: WB) 4% LOWER; Continued pressure in financials.
Evergreen Solar Inc. (Nasdaq: ESLR) 4% HIGHER; Director, Edward Grady, bought 10,000 shares on 09/11 at $5.18, bringing his stake to 23,500 shares.
Constellation Energy (NYSE: CEG) 4% HIGHER; bounces after today's 36% drop.
Morgan Stanley (NYSE: MS) 1.3% LOWER; reports Q3 EPS of $1.32 versus the analyst estimate of $0.78. Revenues for the quarter were $8 billion, versus the consensus of $6.32 billion.
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