This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Seagate, China Medical: After-Hours Trading

SodaStream, Vitamin Shoppe news and quoted added in this update.

NEW YORK ( TheStreet) -- Seagate Technology (STX - Get Report) was the big loser in after-hours action on Monday after the Irish hard drive maker terminated buyout talks with private equity firms.

The company said it ended the discussions with the undisclosed firms because "the indications of the valuation range were not in the best interest of the company and its shareholders." The company first disclosed its receipt of an indication of interest in mid-October.



The stock was last quoted at $13.1,4 down 5.9%, on volume of nearly 5 million, according to Nasdaq.com. The shares closed at $12.69 on Oct. 14 just prior to the company's acknowledgment of the potential going-private transaction.

Softening the blow a bit was news that Seagate's board has approved the buyback of up to $2 billion worth of the company's common stock. In addition, the company forecast revenue of at least $2.7 billion for the December-ending quarter along with a gross margin of at least 19.5%. That revenue view is roughly in line with the current average estimate of analysts polled by Thomson Reuters.

Shares of fellow hard drive maker Western Digital (WDC - Get Report) slipped 1% to $33.36 on volume of around 405,000 after the close.

Interactive Brokers

Shares of Interactive Brokers (IBKR - Get Report) rose in extended trading after the Greenwich, Conn.-based firm said it would distribute roughly $1 billion back to shareholders.

The company, which functions as an electronic market maker and broker, said after the close its board has declared a special cash dividend of $1.79 per common share. The dividend is to be paid on Dec. 23 to shareholders of record on Dec. 9.

The stock was last quoted at $18.30, up 4.2%, on volume of nearly 62,000, according to Nasdaq.com. Based on a regular session close at $17.56, the shares were up 1.2% so far in 2010.

Interactive Brokers, which plans to use cash on hand for the payout, is coming off a strong fiscal third-quarter report issued on Oct. 21 when its profit of 26 cents a share came in more than 35% ahead of Wall Street's expectations.

China Medical Technologies

China Medical Technologies (CMED) was slumping late Monday after the Beijing-based maker of advanced in-vitro diagnostic products announced plans to sell $100 million worth of convertible senior notes due 2016.
1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
IBKR $44.74 4.68%
SODA $20.75 -1.05%
STX $48.15 1.22%
WDC $80.87 1.80%
VSI $37.25 -0.29%

Markets

DOW 17,730.11 -27.80 -0.16%
S&P 500 2,076.78 -0.64 -0.03%
NASDAQ 5,009.2140 -3.9090 -0.08%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs