China Finance Online, Heartland Payment Systems Lead Tuesday's After-Hours Movers
China Finance Online Co. (ADR) (NASDAQ: JRJC) was one of the biggest gainers in Tuesday’s after-hours trading session, up almost 40 percent following the announcement of the company’s third quarter unaudited financial results.
After the market closed, the micro cap Chinese web-based financial services company reported net revenue of $37 million, up 74.8 percent year-over-year and 59.9 percent month-over-month, and net income of $9.7 million, substantially above last year’s $2.4 million.
Gross margins were also up year-over-year, from 75.8 percent in the third quarter of 2014, to 85.6 percent this quarter.
“We further streamlined our business and freed up additional resources that will allow us to reinvest in and fully focus on developing both iTouGu and Yinglibao. As a result, iTouGu grew rapidly during the quarter,” Chairman and CEO Zhiwei Zhao said in a press release.
Another big winner on Tuesday afternoon was Heartland Payment Systems, Inc. (NYSE: HPY), which gained more than 10 percent after an acquisition from Global Payments Inc (NYSE: GPN) was announced. The deal's purchase price equals roughly a 17 percent premium to Heartland's closing price on Tuesday.
Three more movers include:
- Memorial Resource Development Corp (NASDAQ: MRD), down more than 9 percent on no apparent news.
- Atara Biotherapeutics Inc (NASDAQ: ATRA), down roughly 4.7 percent on poor results from its Phase II PINTA 745 study.
- WPX Energy Inc (NYSE: WPX), down about 4 percent on an 8K filing that revealed increased leverage.
Disclosure: Javier Hasse holds no positions in any of the securities mentioned above.
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