Monday's relatively quiet after-hours session saw mixed results, and among the big winners was rechargeable-battery maker
China BAK Battery
(CBAK - Get Report)
, which leapt more than 30% on the possibility of a big-time deal.
BAK said it inked a non-binding letter of intent toward a signing a definitive supply contract with computer giant
(HPQ - Get Report)
. Should an agreement result, BAK will allocate at least half of its monthly cylindrical lithium-ion battery-cell manufacturing capacity to H-P, which will use the products in its notebook-computer batteries. BAK shares were recently up $1.28 to $5.49; H-P ticked up 27 cents at $48.70.
, which makes flash-memory products, among other things, surged 8.3% to $7.31 on better-than-expected earnings. The Santa Ana, Calif., company posted a nickel-a-share profit, or 3 cents higher than Wall Street expectations, according to Thomson Financial. Third-quarter guidance also leans to the higher end of consensus.
, however, took more punishment after the beleaguered mortgage investor reported it has gotten default notices from eight more repo lenders. These, in turn, triggered a default under the asset-backed commercial paper issued by a Luminent affiliate and may catalyze another default regarding an indenture relating to $90 million in Luminent convertible senior bonds.
The news come on the heels of last week's damaging revelation that Luminent received
default notices from two other repo lenders
. Shares of the San Francisco-based company plummeted 39.8% to 59 cents.