Genoptix: After-Hours Trading
Citing two people with "knowledge of the process," the article states Genoptix has hired Barclays plc to handle the sale. The Carlsbad, Calif.-based company wasn't immediately available for comment.
The stock was last quoted at $21.05, up 17%, on volume of nearly 30,000, according to Nasdaq.com. Based on a regular session close at $17.98, the shares were down about 49% so far in 2010. The stock has seen a slight bounce since scraping its 52-week low of $15.50 on June 24 but it's still off 54% since hitting its high for the year of $39 on May 5. The company's market capitalization was around $316 million.
Genoptix provides diagnostic test services related to hematology and oncology. The company reported its fiscal third-quarter results on Nov. 4, posting a profit of $4.4 million, or 24 cents a share, for the three months ended Sept. 30 on revenue of $49.5 million. The EPS performance was 11% ahead of Wall Street's consensus estimate for earnings of 22 cents a share in the September period.
International Coal GroupShares of International Coal Group (ICO) lost ground in late trades after announcing a secondary offering of nearly 35 million common shares. The Scott Depot, W. Va.-based company said shareholders WL Ross & Co. and Fairfax Financial Holdings Ltd. have started their sales of 12.3 million and 22.6 million shares, respectively. International Coal, which won't receive any proceeds from the sales, said BofA Merrill Lynch is acting as the sole book-running manager. The amount of stock being offered by each party represents roughly half of their holdings in the company. The stock slipped 6.4% to $7.64 on volume of almost 30,000, according to Nasdaq.com. Year-to-date, the shares were up around 120% based on their regular session finish at $8.16. The stock hit a 52-week high of $8.58 during Friday's session. --Written by Michael Baron in New York.
>To contact the writer of this article, click here: Michael Baron.
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