The stock was last quoted at $37.50, down 2%, on volume of more than 250,000, according to Nasdaq.com. Year-to-date, the shares are up 41% based on their regular-session close at $38.28. Meantime A-Power Energy Generation Systems ( APWR) fell as well in extended trades, sliding more than 8% to $6.03 on volume of almost 60,000. The Chinese wind turbine manufacturer postponed a planned conference call about its third-quarter results after the close, providing no explanation for the change. A-Power originally announced plans for the Nov. 18 conference call on Tuesday. "The postponement was not due to any accounting irregularities," A-Power said in a terse press release. "The Company regrets any inconvenience that the postponement may have created." On the plus side was Dendreon ( DNDN), which gained 6% to $37.94 on volume of more than 1.1 million. The Seattle biotech was halted for much of the regular session, and then re-opened in after-hours action, surging on news that a panel of outside advisors to the Medicare program were in favor of reimbursement for the company's Provenge prostate cancer drug. NetApp ( NTAP) edged higher in after-hours action, regaining some of the ground the stock lost in the regular session after its fiscal second-quarter report leaked prior to the closing bell. The Sunnyvale, Calif.-based data storage technology company reported non-GAAP earnings of $202.7 million, or 52 cents a share, for the three months ended Oct. 31 with revenue coming in at $1.21 billion. That performance was slightly ahead of Wall Street's consensus view for a profit of 49 cents a share in the period on revenue of $1.19 billion.
The company said it plans to use the proceeds of the sale, the pricing of which wasn't disclosed, for both general corporate purposes and in potential acquisitions; although it noted no specific acquisition targets had been determined as yet. The deal also includes an overallotment option for the sale of an additional 750,000 shares. SmartHeat currently has about 32.8 million outstanding shares with its public float sitting at around 22.1 million, so the sale would be a significant boost to those numbers. Year-to-date, the stock has fallen almost 61%, and the levels seen in after-hours trading are already threatening its 52-week low of $5.11 set on July 6. Shares of Limited Brands ( LTD) were early movers higher in late trades after the Columbus, Ohio-based diversified retailer topped Wall Street's expectations with its third-quarter results and unveiled plans to return money to shareholders. The company, whose concepts include Victoria's Secret, Pink and Bath & Body Works, said its board has approved the buyback of up to $200 million worth of its common stock as well as the payment of a special one-time dividend of $3 per common share. The dividend is to be paid on Dec. 21 to shareholders of record on Dec. 7. The stock was last quoted at $33.50, up 5.1%, on volume of about 265,000, according to Nasdaq.com. Based on a regular session close at $31.87, the shares were already up roughly 62% so far in 2010. The levels seen in extended trading would represent a new 52-week high for the stock, which previously peaked at $32.37 on Nov. 9. For the third quarter ended Sept. 30, Limited Brands posted earnings $61.3 million, or 18 cents a share, on sales of $1.98 billion. The performance edged the average estimate of analysts polled by Thomson Reuters for a profit of 17 cents a share on sales of $1.95 billion in the September period. Same-store sales rose 10% in the quarter. The company also boosted its outlook for the full year, saying it now expects adjusted earnings of $1.82 to $1.97 a share, up from a prior projection of $1.68 to $1.83 a share. Wall Street's current consensus estimate is for a fiscal 2010 profit of $1.94 a share.
DryShips said its deepwater operations performed well in the latest quarter and it expects the trend to continue into next year. "The ultra deepwater market has turned a corner in the last couple of months and we believe that current enquiry from operators matches or may even exceed the supply available in 2011," said George Economou, the company's chairman and CEO, in a statement.
Economou added later: "We believe rates for ultra deepwater rigs bottomed in the low-$400,000 per day range in the third quarter of 2010 and are now trending upwards." The average estimate of analysts polled by Thomson Reuters is for DryShips to post a profit of $64.5 million, or 23 cents a share, in the current quarter ending in December.
-- Written by Michael Baron in New York. >To contact the writer of this article, click here: Michael Baron. >To submit a news tip, send an email to: firstname.lastname@example.org