After Hours Summary: EDR jumps +14.5% on deal to buy OpenBet; CNXC +4.7% higher on earnings/buyback; GFF +5.8% higher on alternative review for subsidiaryAfter Hours Gainers:
Companies trading higher in after hours in reaction to earnings/guidance: CNXC +4.7% (also authorizes up to $500 mln for share repurchases)
Companies trading higher in after hours in reaction to news: FEIM +23.8% (wins contract from Office of Naval Research worth up to $17.75 mln), EDR +14.5% (SGMS to sell OpenBet to EDR for $1.2 bln in cash and stock), GFF +5.8% (authorizes strategic alternative review for its subsidiary Telephonics), MMX +4.7% (reaches agreement with Auramet Capital to acquire a gold stream and enters into long-term partnership), SGMS +4.3% (SGMS to sell OpenBet to EDR for $1.2 bln in cash and stock), ALT +3.9% (to announce ALT-801 Phase 1 Trial data on Sept 28), HUN +3.8% (Starboard Value fund has 8+% stake, according to WSJ), SPNE +2.9% (receives CE Mark certification for its Cranial Module and Percutaneous Spine Module), GMED +1.5% (announces performance of first surgery with ExcelsiusGPS Cranial Solutions), PING +1.2% (acquires Singular Key), NTUS +0.8% (wins 5-yr govt contract), CVE +0.6% (files for $5 bln mixed securities shelf offering), GILD +0.2% (Trodelvy approved by Health Canada), EGO +0.2% (identifies new mineralized lenses at Ormaque), PFE +0.1% (begins mRNA-based flu vaccine program after first participants dosed in a Phase 1 trial), AL +0.1% (delivers new Boeing 737-9 aircraft to Alaska Airlines)
After Hours Losers:
Companies trading lower in after hours in reaction to earnings/guidance: ACB -0.1%
Companies trading lower in after hours in reaction to news: ZIOP -13.2% (will conduct strategic restructuring to extend TCR program cash runway into 1H23), BKD -7.1% (announces $200 mln convertible note offering). PRTK -0.4% (receives additional funding under BARDA contract to advance development of NUZYRA), SHLX -0.2% (provides update on financial impact of Hurricane Ida), NOVA -0.1% (announces partnership with AutoGrid), ETD -0.1% (to expand manufacturing production in Vermont; announces wage increases), BA -0.1% (awarded $3.5 bln Air Force contract and $760 mln Navy contract), TSLA -0.1% (State AG's from 21 states urge Biden Admin to finalize stricter vehicle emissions rules, according to Reuters)