Friday's After-Hours Movers Led By Novatel, Pershing Gold, SouFun And The Superstar, Aquinox Pharmaceuticals

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Shares of Novatel Wireless Inc MIFI, which surged 6.79 percent during the day, after the company reported its second quarter financial results on Thursday evening, are down roughly 12 percent in Friday’s after-hours on no apparent reason. The stock is now trading at $2.06, still above Friday’s opening price of $2.02.

Another stock that rose during the day (5.47 percent) and is falling since the bell rang is Pershing Gold Corp PGLC’s. The shares are down more than 7.7 percent in after-hours, trading at $4.62, below the opening price of $4.93.

Once again, the tumble does not seem to respond to any particular news, but rather to be a correction of the upsurge seen over the day.

The largest gainer in the New York Stock Exchange on Friday’s after-hours is SouFun Holdings Ltd SFUN, the Chinese mid-cap real estate Internet portal operator. After falling 5.67 during the day despite having reported an earnings beat, the stock is up more than 6.5 percent in after-hours, possibly reacting to a Nomura Securities report that assures property sales in the Asian country could peak this year, before stabilizing at a level slightly below that of the previous year.

Finally, there’s Aquinox Pharmaceuticals Inc AQXP, Friday’s superstar. After surging 482.12 percent during the day, following the announcement of the company’s second quarter financial results (well above the Street’s expectations), the Canadian pharmaceutical company’s stock is up almost 7.5 percent in after-hours, trading at $11.20. The open price on Friday was barely $2.45.

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Posted In: BiotechHealth CareAfter-Hours CenterMoversTechGeneral
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