A look at the day's major movers
RISERS
Cleantech Solutions International Inc (NASDAQ:CLNT), up 95% at US$8.67
The Hong Kong-based company is to buy Marvel Finance's 51% interest in Integrated Media Technology Limited (NASDAQ:IMTE) through a share swap agreement.
Marathon Patent Group Inc (NASDAQ:MARA), up 65% at US$2.33
The company's results on Monday were well-received, with third quarter revenue shooting up to US$163,000 from US$43,000 the year before. It's unclear what is behind today's massive share price spike, unless the market has just woken up to the company's acquisition – announced in the results statement – of the acquisition of crypto-currency mining company Global Bit Ventures.
FALLERS
CHF Solutions Inc (NASDAQ:CHFS), down 44% at US$4.45.
The company plans to raise US$18mln through the issue of convertible shares that can be converted at US$4.50 a share.
Rand Logistics Inc (NASDAQ:RLOG), down 31% at US$0.3997.
Private equity firm American Industrial Partners is acquiring the debt-laden bulk shipping company. AIP has agreed to convert all of Rand’s second lien debt into 100% of the new common equity of the reorganized company.
TUESDAY'S AFTER-HOURS MOVERS
Meg Whitman has quit as boss of Hewlett Packard Enterprise Co (NYSE:HPE), the floundering data center and software company.
Whitman has had a checkered career as a technology boss but HP's stock fell 5.5% to US$13.35 in screen-based trading on the news.
Whitman was in charge of eBay when the online auction site splurged more than US$3bn on the acquisition of internet phone and messaging service provider Skype, a company with minimal revenues and which did not own the technology that made the Skype service work.
She succeeded Leo Apotheker as chief executive of Hewlett-Packard (as it then was), and one of her first decisions was to abandon Apotheker's decision to spin off the PC division, only to more or less reverse that decision later on when HP span off its software division into a separate company: HP Inc, the PC and printer focused business.
Whitman will remain on the board. Company president Antonio Neri will succeed Whitman as chief executive officer.
The news about Whitman overshadowed decent results from HPE, which reported fiscal fourth quarter net revenue of US$7.8bn, up 5% year-on-year.
Adjusted earnings per share came in at 31 cents, above the top-end of the company's guidance range of 26-30 cents.
Another tech stock taking a fall despite better-than-expected figures was customer relations management specialist Salesforce.com (NYSE:CRM).
The shares were off 1.3% after-hours despite the company reporting record third quarter revenue of US$2.68bn, up 23% year-on-year.
Full-year revenue guidance was raised to US$10.43bn – US$10.44bn.
Although third quarter performance beat expectations, fourth quarter guidance was softer than the market had been expecting.
Investors ripped into clothing retailer Guess? Inc (NYSE:GES), though it too topped expectations with its earnings per share (EPS).
EPS of 12 cents was a penny higher than the market had been expecting, but investors tend to pay more attention to the bottom line with retailers, and here the news was a bit more iffy, with net revenues up 0.6% on a constant currency basis to US$554.1mln from the year before, compared to market expectations of US$566mln..