soared in late trading Thursday after the Internet security company confirmed plans to be acquired by storage giant
in a deal valued at about $2.1 billion. EMC will pay $28 a share in cash and assume outstanding options. The acquisition is expected to be completed late in the third quarter or early in the fourth quarter, subject to customary closing conditions and regulatory approvals. RSA shares -- which had jumped 18% in Thursday's regular session on rumors of the deal -- gained another $4.42, or 19%, to $27.30 in after-hours trading. EMC shares slipped 50 cents, or 4.4%, to $10.75.
shares jumped after the drugmaker said it received an approvable letter for Fentora, a pain treatment for cancer patients. Cephalon said the Food and Drug Administration indicated that no additional safety or efficacy data are needed, and the labeling has been essentially finalized. The company plans to submit a response to the FDA by the end of July, and expects the agency to complete its review within 60 days of the submission. Cephalon shares shot up $6.74, or 12%, to $61 in after-hours trading.
fell in late trading after the company said it received a Justice Department subpoena requesting information on its stock-option grants and practices. The company already had disclosed a
Securities and Exchange Commission
informal inquiry into the matter. Equinix said it intends to cooperate fully with the U.S. attorney's offfice regarding the subpoena. Shares fell $2.55, or 4.7%, to $51.65 after hours.
also said it received a U.S. attorney subpoena related to its stock-option probe. The financial-software maker already had begun its own investigation into its past stock-options practices, and disclosed earlier this month that the SEC had begun an informal inquiry into the matter. Shares were down $1.11, or 1.9%, to $58.89.
also disclosed options-related issues, saying that an internal investigation uncovered irregularities in certain grants made between 1997 and 2001. Apple said a special committee of outside directors hired independent counsel to perform an investigation. The company has informed the SEC. Shares dropped $1.47, or 2.5%, to $57.50 in after-hours trading.
tumbled after the handheld-gadget maker gave weak guidance for the current quarter. For the fourth quarter ended May 31, Palm posted an adjusted profit of $30.6 million, or 29 cents a share, up from $19.2 million, or 19 cents a share, a year earlier. Sales rose 20% to $403.1 million. The results beat analysts' mean estimates for earnings of 23 cents a share and sales of $401.7 million, according to Thomson First Call.
But for the first quarter, Palm predicted earnings of 18 cents to 19 cents a share excluding options costs, with sales of between $380 million and $385 million. Wall Street calls for earnings of 22 cents a share, excluding options expenses, on $413.4 million in sales. Palm shares fell $1.74, or 9.3%, to $16.92 after hours.
plummeted after the software and services provider reported a wider loss for the fourth quarter. The company reported a loss of $3.48 million, or 12 cents a share, compared with a loss of $572,000, or 3 cents a share, a year ago. Revenue rose to $23.1 million from $12 million a year earlier.
Looking ahead, Saba expects first-quarter revenue of $22 million to $23 million. The company projects a loss to be in the range of 11 cents to 14 cents. Shares tumbled $1.13, or 16%, to $5.82 after hours.
said a Florida appeals court granted its motion to stay the demolition order for the company's Miami facility. SFBC International had filed both a petition to reverse a Miami-Dade County Unsafe Structures Board's order and a motion to stay the order until the outcome of the appellate proceedings. The court didn't set a definitive date for the hearings to begin, but the stay will remain in effect until the appeal is resolved. "This ruling by the Court is a positive development towards our goal of shutting down this facility in an orderly manner," said Jeffrey P. McMullen, president and CEO, in a statement. Shares gained $1.50, or 10%, to $16.50 in late trading.