After-Hours Movers 9/22: FUL, ALN Higher; DAC, INCY, ATPG, BLC, PNNT, GDP, IMA Lower Sep 22, 2009 05:39PM

Danaos Corporation (NYSE: DAC) 12% LOWER; announced that it has now obtained waivers covering all prior breaches of financial covenants in its credit facilities as well as any subsequent breaches of these covenants until October 1, 2010. Danaos Corporation also announced that the charterer of six of its containerships, Zim Integrated Shipping Services Ltd., has stated that it is reducing, unilaterally, all of its long-term charterhire payments to ship-owners by 35% commencing September 1, 2009 and for an indicated period of three years. Danaos has not accepted this offer, nor acquiesced to this reduction, and it is in discussions with Zim and evaluating the situation. The vessels that Danaos charters to Zim are currently operating under 12-year time charters. Zim is not a charterer of any of Danaos' newbuilding containerships.

Incyte Corporation (Nasdaq: INCY) 10.6% LOWER; announced that it intends ...