After-Hours Movers 9/28: ASTC Higher; SQNM, SIMG, CBL, IRET Lower
Astrotech Corporation (NASDAQ: ASTC) 83% HIGHER; reports Q4 EPS of $0.15 compared to an $0.11 loss for the same period last year. Revenues were $10.38 million compared to $6.05 million for the same period last year. The Company has a backlog of $25.4 million as of June 30, 2009. The majority of this backlog is for ASO pre-launch satellite processing services, which include hardware launch preparation; advance planning; use of unique satellite preparation facilities; and, spacecraft checkout, encapsulation, fueling, transport, and remote control through launch.
Sequenom, Inc. (Nasdaq: SQNM) 44% LOWER; announced the completion of the independent investigation by a special committee of independent directors related to the test data and results for the company's noninvasive prenatal test for Trisomy 21 (Down syndrome). Based on the special committee's work and recommendations, the independent members of the company's board of directors have concluded that as a result of the company's attempted transition from researching potential molecular diagnostic tests to developing and commercializing those tests, the company failed to put in place adequate protocols and controls for the conduct of studies in the Trisomy 21 program at the company. Click here for the full report.
Silicon Image (Nasdaq: SIMG) 4.7% LOWER; lowers its Q3 sales guidance from $44-$46 million to $37-$39 million, versus the consensus of $44.75 million.
CBL & Associates Properties, Inc. (NYSE: CBL) 3.5% LOWER; has closed the extension and modification of its $525 million secured line of credit, maintaining 100% lending capacity. The facility has been extended from February 2010 to February 2012, with an option to extend the maturity for one additional year to February 2013 (subject to continued compliance with the terms of the facility). The Company is also currently in documentation stages for the closing of the previously announced extension and modification of the full amount of its $560 million unsecured facility, which will convert to a secured facility over the new term. CBL anticipates closing the $560 million facility within 45 days.
Investors Real Estate Trust (Nasdaq: IRET) 1.3% LOWER; today announced plans to sell 8,000,000 newly-issued common shares of beneficial interest in an underwritten public offering pursuant to its effective registration statement previously filed with the Securities and Exchange Commission. The Company expects to grant the underwriters a 30-day option to purchase up to an additional 1,200,000 common shares of beneficial interest at the public offering price to cover over-allotments, if any.
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