Lions Gate Entertainment ( LGF) got a lift in the extended session after the company said it turned a profit in its fiscal fourth quarter amid strong revenue from its digital, international and cable video-on-demand categories. The company also said it was boosted in the latest quarter by lower theatrical promotional and advertising expenses, and an increase in equity interest income from the Epix cable channel, a joint venture with Viacom ( VIA.B) and Metro-Goldwyn Mayer. Lions Gate said it earned $46.1 million, or 33 cents a share, on revenue of $377 million in the three months ended March 31, up from a year-ago loss of $22.3 million, or 19 cents a share, on revenue of $401.6 million. The stock was last quoted at $6.05, up 2%, on volume of less than 25,000, according to Nasdaq.com. Lions Gate shares were down almost 9% so far in 2011 based on a regular session close at $5.93.
News of a dilutive stock offering weighed on shares of ARMOUR Residential ( ARR) in late trades on Tuesday with the stock slumping 4.3% to $7.31 on volume of more than 730,000. After the closing bell, the Vero Beach, Fla.-based real estate investment trust, which invests in residential mortgage-backed securities, said it's launched the sale of 16 million common shares. The deal also includes an overallotment option for the sale of an additional 2 million common shares. The stock is down 1.5% so far in 2011, and it has limited coverage on Wall Street. Only three analysts cover the shares with the ratings split evenly between strong buy, buy and hold.
Shares of American Superconductor ( AMSC) pulled back after the Devens, Mass.-based energy technology company delayed its financial results, and said it expects to reverse recognition of a "material" amount of revenue following a review of shipments sent to customers in China in the second, third and fourth quarters of fiscal 2010. The company also said it's cut 10% of its workforce since March 31, and that it's initiated a hiring freeze and reduced travel and discretionary spending in an effort to better align its cost structure with near-term revenue. The stock was last quoted at $10.12, down 5.3%, on volume of around 74,000, according to Nasdaq.com. Based on a regular session close at $10.69, the shares have already fallen almost 65% since the start of 2011. Two other stocks sold off late after the companies announced stock sale plans. Cheniere Energy ( LNG) said it's selling up to 10 million shares in its offering, while Inergy L.P. ( NRGY) is offering up to 10.35 million common units. Cheniere shares lost 9.5% to $10.60 with volume reaching more than 400,000, while Inergy shares dipped 3.3% to $35.85 on volume of nearly 43,000. -- 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: email@example.com