Market Overview

16 Stocks Moving In Monday's After-Hours Session

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Gainers

  • Criteo SA (ADR) (NASDAQ: CRTO) indicated up 6.2 percent on light volume. Not seeing any company news to justify price action.
  • Ichor Holdings Ltd (NASDAQ: ICHR) last trade at $28.53, up about 6.5 percent. The company announced a "substantial" deal to produce liquid delivery systems for a key customer.
  • VirnetX Holding Corporation (NYSE: VHC) indicated up 4.4 percent on light volume and no news. Shares have almost doubled in the 6 trading sessions since a report a final judgement related to the company's case with Apple will be released before October 13.
  • Clovis Oncology Inc (NASDAQ: CLVS) indicated up 1.8 percent after the company announced the submission of its sNDA for rucaparib.
  • Leidos Holdings, Inc. (NYSE: LDOS) indicated up 3 percent following news of a contract to support the Social Security Administration's Agency Strategic Plan. Contract has ceiling value of $2.3 billion.
  • Tesla Inc (NASDAQ: TSLA) last traded up 0.5 percent following an increased price target from Morgan Stanley's Adam Jonas. The analyst raised his target on Tesla from $317 to $379 and maintained an Equal-Weight rating.
  • Cypress Semiconductor Corporation (NASDAQ: CY) up 3.4 percent following a positive mention from CNBC's Guy Adami on 'Fast Money.' The trader warned shorts may need to cover related to the company's upcoming end-of-October earnings report.
  • Devon Energy Corp (NYSE: DVN) up 1 percent amid a new Buy rating from a Jefferies analyst.
  • Concho Resources Inc (NYSE: CXO) indicated up 0.75 percent following a new Buy rating from a Jefferies analyst.

Losers

  • Imperva Inc (NASDAQ: IMPV) indicated down 8 percent on light volume; the company announced its CFO Terry Schmid resigned from his role, citing "other interests." Aaron Kuan has been named the company's interim replacement.
  • Air Lease (NYSE: AL) indicated down 4.6 percent on no after-hours news. The company offered an update into its third quarter Monday morning before the market opened. The stock closed down 0.25 percent.
  • Jupai Holdings Ltd (ADR) (NYSE: JP) indicated down nearly 5 percent following an intraday rally of nearly 11 percent during Monday's intraday session. While Jupai did not disclose news on Monday, Benzinga noted several U.S.-traded China-based stocks which might have moved following news of China's reserve rate reduction. Noah Holdings Limited (ADR) (NASDAQ: NOAH) and China Internet Nationwide Financial Services (NASDAQ: CIFS) shares were also volatile Monday.
  • American International Group Inc (NYSE: AIG) down 1.4 percent after giving an update on forecast third-quarter net catastrophe losses. The company is now expected net catastrophe losses in the $2.9 billion to $3.1 billion range.
  • Chesapeake Energy Corporation (NYSE: CHK) down 1 percent following a new Underperform rating from Jefferies.
  • Carrizo Oil & Gas Inc (NASDAQ: CRZO) down 0.9 percent following a new Hold rating from Jefferies.
  • Apache Corporation (NYSE: APA) down 0.4 percent following a new Underperform rating from Jefferies.

After-hours price action occurs in an environment where fewer traders are participating in price discovery. Amid this lack of activity and liquidity in certain stocks, experienced traders will sometimes attempt to manipulate sentiment by placing an order at a price markedly different than a stock's closing price or last price. It's conceivable less savvy investors could see this price action, assume the sharply higher or lower indication is a signal of news, buy or sell the stock, and ask questions later. This is one reason after-hours price action can sometimes evaporate by the next day's morning trading session (i.e. there is no news -- just trading activity).

Posted-In: News After-Hours Center Markets Movers Trading Ideas

 

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