After Hours Summary: SGH -9%, COST -1.6% following earnings/guidanceAfter Hours Gainers:
Companies trading higher in after hours in reaction to news: AVYA +17.6% (RingCentral and Avaya enter strategic partnership; also authorized $500 mln share repurchase program and plans to pay down $250 mln of the principal debt under its Term Loan B), MEIP +10% (provides updated data from ongoing Phase 1b study of investigational ME-401 in patients with indolent B-cell malignancie), RNG +7% (RingCentral announces strategic partnership with Avaya - to be exclusive provider of Unified Communications as a Service solutions to Avaya), ETSY +0.9% (light volume; initiated with a Buy at Nomura Instinet; tgt $70)
After Hours Losers:
Companies trading lower in after hours in reaction to earnings/guidance: SGH -9.3%, COST -1.6%
Companies trading lower in after hours in reaction to news: OVID -13.8% (proposes concurrent public offerings of common stock and preferred stock), HRTX -7.6% (intends to offer and sell shares of its common stock in a public offering), RRC -3.3% (downgraded to Neutral from Outperform at Credit Suisse), WLL -2.5% (downgraded to Underperform from Neutral at Credit Suisse), TERP -1.5% (announces public offering of Class A common stock and concurrent private placement; also files mixed securities shelf offering)