Market Overview

Monday's After-Hours Movers Led By Trevena, Petrobras And Sunedison

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Shares of Trevena Inc (NASDAQ: TRVN) were up more than 36 percent in Monday’s after-hours session, after the company announced positive results from its Phase 2b study of TRV130 in Acute Postoperative Pain.

Neil Singla, M.D., chief scientific officer of Lotus Clinical Research and lead investigator of the clinical study assured that the trial showed that TRV130 was statistically effective to treat pain after an abdominoplasty surgery ("tummy tuck"), matching morphine efficacy, "with a markedly improved safety and tolerability profile."

"The challenges of safely and adequately titrating morphine are well recognized, and these data suggest that, if approved, TRV130 may provide a better option than currently available opioid analgesics," he added.

The rise is Matrix Service Co (NASDAQ: MTRX), which reported quarterly earnings of $0.40 per share on revenue of $370.54 million, beating estimates and guidance on the earnings front, but falling short of them in the revenue front. Shares were up more than 6 percent in after-hours trading.

On the other hand, shares of Petroleo Brasileiro Petrobras SA (ADR) (NYSE: PBR) were down almost 8 percent since the bell rang, as several media outlets have informed that Judge Sérgio Moro, who is investigating the corruption scandal at the Brazilian company, said there is evidence of "systemic corruption." Although the evidence still needs to be investigated, the stock is selling off as investors concerns mount.

Sunedison Inc (NYSE: SUNE) was up about 5 percent after the market closed. The spike seems to have been triggered by the disclosure of an increase in the stake of Steven Cohen's Point72 Asset Management to 5.1 percent of the company’s outstanding stock.

Posted-In: Neil Singla Point72 Asset Management Sérgio MoroEarnings News Legal After-Hours Center Movers

 

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