Tuesday's Late Winners & Losers
Among the biggest winners in a relatively quiet after-hours session Tuesday was Capstone Turbine (CPST), which saw shares jump on word of a lucrative new deal.
Greenvironment Oy, Capstone's distributor in Finland and Germany, sent the Chatsworth, Calif., company an initial $3.8 million order for its C200 microturbine systems, which will be used for biogas applications. Deliveries are slated to begin in September of next year and to complete in December 2009. Capstone shares were adding 11 cents, or 9.6%, to $1.26.
Metabasis Therapeutics (MBRX) was another big price gainer, after the European Commission granted orphan medicinal product status to its proposed primary liver cancer treatment, MB07133. That entitles Metabasis to 10 years of market exclusivity if the drug is approved for that indication, as well as grant eligibility and other benefits.
The designation is given to drug candidates for treatment of life-threatening or chronically debilitating diseases that are rare in the European Union. Shares of the California-based biopharma company were spiking 15.9% to $3.29.But Micron Technology (MU), of Boise, Idaho, fell 4.2% after the chipmaker swung to a fiscal fourth-quarter loss of $158 million, or 21 cents a share, on revenue that ticked up 4.7% from last year to $1.44 billion. Last year Micron earned 8 cents a share. Analysts surveyed by Thomson Financial were looking for a loss of 22 cents a share on $1.4 billion in sales. Shares were off 39 cents at $11.40 in recent extended trading. Elsewhere, Excel Maritime Carriers (EXM) slipped after the sea shipper said it will offer roughly $100 million in convertible senior bonds to institutional buyers, with an initial purchaser's option of another $25 million worth to cover overallotments. Proceeds could go to vessel purchases and debt repayment, among other general corporate purposes. Shares of the Greek company gave up 3.1% to $60.47.
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