Why These Stocks Are Witnessing Big Moves In After-Hours

Shares of Solazyme Inc SZYM were trading up more than 31 percent on Monday’s after hours session, following the announcement of the company’s fourth quarter financial results. The micro cap renewable oils and bioproducts producer delivered a net loss of $(0.43) per share, missing the Street’s consensus. However, after adjusting for restructuring costs and stock option expenses, the net loss came to $(0.32) per share – in line with or above expectations. Revenue of $10.39 million came in well below estimates of $19.1 million.

On the other hand, Immunomedics, Inc. IMMU was trading down by double digits in after-hours. Since the bell rang, the stock lost almost 17 percent, after the company announced it is terminating its Phase 3 PANCRIT-1 trial with yttrium-90-labeled (90Y) clivatuzumab tetraxetan in patients with metastatic pancreatic cancer who had received at least two prior therapies, one of which must have been a gemcitabine-containing regimen.

Related Link: Immunomedics Offers Update on Phase 3 PANCRIT-1 Trial of Clivatuzumab Tetraxetan in Patients with Advanced Pancreatic Cancer

The decision to terminate the trial responded to a recommendation from the independent Data and Safety Monitoring Board (DSMB), which showed disappointing survival data.

Finally, in the New York Stock Exchange, ITT Educational Services, Inc. ESI saw the largest after-hours move, as its stock rose almost 9 percent since the market closed. After the bell, the company reported fourth quarter earnings of $0.44 per share, more than doubling the Street’s consensus estimate; revenue of $202.4 million was in line with expectations.

Disclosure: Javier Hasse holds no positions in any of the securities mentioned above.