Stocks were pulling back after the strong regular-session finish Monday, led by a free fall at
Shares of the Dothan, Ala., video-rental chain plummeted 57.7% to 80 cents after the company announced it can't fulfill the terms of its
senior credit facility due to an unexpected "sharp decline" in its rental business over the past four months.
The company says it's in discussion with its lenders in order to remedy the situation, and "will continue to take actions to conserve cash and improve profitability," such as speeding up the closure of unprofitable stores. Movie Gallery also said it will consider strategic alternatives, including possibly putting itself on the block.
plunged 22.2% after saying it probably lost between 35 cents and 37 cents a share in the second quarter on revenue of $12.5 million to $13 million. Two analysts polled by Thomson Financial are seeking a penny-a-share loss on $35.1 million in sales. Shares of the Irvine, Calif., company were off 80 cents to $2.80.
On the other hand,
jumped 8.4% to $3.47 after announcing it has developed antibodies that, directed at a certain gene, have been demonstrated to lower triglycerides and cholesterol in preclinical testing. The Texas-based company says research suggests it may have potential as a treatment for cardiovascular disease.
United Agri Products
( UAPH) beat the sole analyst's fiscal first-quarter projections with sharply higher income and revenue -- $1.66 a share on $1.61 billion in sales -- vs. last year. The Greeley, Colo., agricultural-inputs distributor also lifted the lower end of full-year guidance by a dime a share, and now expects a per-share profit of $1.60 to $1.75. Shares spiked immediately after the close before trading choppily in thin volume; recently, they were slipping 35 cents to $29.80.