Shares of TDH Holdings (PETZ) - Get Free Report, soared in late trading Wednesday after the company announced a registered direct offering that raised $9.9 million from the sale of 15 million common shares at 64 cents each and warrants to purchase 30 million shares for 1 cent a warrant.
The Chinese pet food products maker said in a statement that it plans to use the proceeds on “strategic acquisitions and investments in complementary business.”
Shares of TDH ended the regular session up 60 cents, or 34%, at $2.37. In the after-hours session the stock gained $4.44, or 187%, to $6.81.
Chipmaker Qualcomm (QCOM) - Get Free Report reported better-than-expected results and offered upbeat guidance amid signs it is weather the chip shortages better than many other suppliers. The company posted a fiscal fourth-quarter profit of $2.55 a share on revenue of $9.32 billion. That came in better than Wall Street estimates of EPS of $1.95 on revenue of $8.86 billion. The company forecast fiscal first-quarter earnings of $2.90 to $3.10 a share on revenue between $10 billion and $10.8 billion.
Shares of Qualcomm rose $10.51, or 7.6%, to $148.99 in after-hours trading Wednesday.
The company said it is ”mindful that the challenges created by the global supply chain disruptions will likely continue into 2022. These headwinds may have a broad impact on the holiday season in terms of consumer confidence, product pricing and availability, and advertising spend levels.” The company forecast total net revenue of $893 million at the midpoint in the fourth quarter.
Shares fell $26.66, or 8.5%, to $287.00 in after-hours trading.