Ag Feed Industries ( FEED) shares soared 61% Monday after the company announced its full-year profit more than doubled. Shares were up 66 cents to $1.74 after the China-based company, which makes animal feed and pork products, said its hog-production capacity saw a big increase. AgFeed posted a 2008 profit of $16.9 million, or 53 cents per share, up from $6.7 million, or 25 cents per share, in 2007. Shares of WSP Holdings ( WH), a China-based maker of tubular products used in oil and gas exploration, were up 27%, or 61 cents to $2.91 Monday after the company announced it would pay a 30-cent divided per U.S. American depositary share and a one-time special cash dividend of 45 cents per ADS out of its annual profits for the years ended Dec. 31, 2007 and Dec. 31, 2008. Shares of PetroQuest Energy ( PQ), an independent oil and gas producer based in Lafayette, La., were up 17%, or 36 cents to $2.45. Arena Pharmaceuticals ( ARNA) shares were down 21.6%, or $1.10, to $3.99 following a downgrade from Canaccord Adams from hold to sell. Volume was more than 4.9 million shares. Sonic Automotive ( SAH) shares were down 15%, or 23 cents to $1.28. A survey of analysts by Thomson Reuters expects the Charlotte, N.C.-based auto retailer to report earnings today of 3 cents a share, 65 cents less than the fourth quarter of 2007.
Shares of AgFeed Industries (Nasdaq:FEED) were gapping down Monday morning with an open price 23.1% lower than Friday's closing price. The stock closed at 52 cents yesterday and opened today's trading at 40 cents.