Stocks were mostly falling after the bell Thursday, including a couple of names out of the financial sector.
American Capital Strategies
lost 2.4% on word the company plans to offer around 5 million of its shares under the firm's existing shelf registration, through several underwriters. There is also an underwriters' option for another 750,000 shares to cover overallotments.
Proceeds will go to reducing borrowings under its credit facilities and to fund investments. Shares of the Bethesda, Md.-based principal investment firm were down 95 cents to $39.05.
( TMA), meanwhile, said in a regulatory filing that as of Sept. 30, it will be in violation of covenants in its warehouse financing agreements regarding its profitability over the past four quarters. Thornburg intends on getting waivers, but warned that "if the ... lenders were to decide to cease financing our unsecuritized loans, we would likely have to curtail new loan fundings until such time as we could reestablish warehouse facilities."
The Santa Fe, N.M.-based lender nonetheless said it "expect
s to be able to weather this difficult market environment," given that some 56.9% of its mortgage assets as of Aug. 17 were "permanently funded by previously issued collateralized mortgage debt ... and that mortgage prices seem to be stabilizing." Shares were off 1.6% to $11.87.
Elsewhere in negative territory,
, of Santa Clara, Calif., said fiscal first-quarter earnings dropped 14.3% to 30 cents a share, or $85.6 million. Revenue slid 12.9% to $471.5 million. That
beat Street estimates, but shares were still off 2.9% to $25.80.
, another Californian chipmaker,
tightened the low end of its revenue guidance for the fiscal second quarter. The company now pegs sales to be about flat sequentially, vs. the prior expected range of flat to slightly down. Last quarter, Xilinx posted revenue of $445.9 million, and analysts polled by Thomson Financial are seeking second-quarter revenue of $443.9 million. Still, shares retreated 0.8% to $26.10.
Smith & Wesson
, on the other hand, was one of the biggest postclose winners, after the handgun maker pocketed 37.5% higher income compared to last year. The company reported earnings of 11 cents a share, or $4.7 million. Sales soared 56.3% to $74.4 million. Wall Street was expecting just 9 cents a share on sales of $71.9 million. Shares of the Springfield, Mass.-based company were climbing $1.16, or 5.8%, to $21.20.