There was even less activity amongst traders after the closing bell rang Wednesday, than there was in the regular session. The significant mover was Sallie Mae (SLM).
The Reston, Va., student lender dropped more than 6% after setting plans for a $2.5 billion stock offering, consisting of $1.5 billion in common shares and $1 billion in mandatory convertible preferred shares.
$2 billion of the proceeds are planned for buying back around 44 million shares under an outstanding equity forward-purchase contract. Any remaining capital will go to general corporate purposes. Shares were sliding $1.38 to $20.75 in recent after-hours trading.
Among other recent post close decliners, communication-equipment maker Infinera (INFN - Get Report) lost 3.1%; U.S. Airways (LCC) gave up 0.9%; and Fifth Third Bancorp (FITB - Get Report) was recently off 1.2% to $26.26.On the winning side lately were solar-power companies China Sunergy (CSUN) and Evergreen Solar (ESLR), as well as software firm China Technology Development (CTDC). Shares were adding 10.1%, 1.5%, and 3.3%, respectively.