After-Hours Movers: Earnings, Restructurings & Buyout Rumors

U.S. stocks closed in green again on Thursday, going on with the rally spurred by the Fed’s decision not to raise rates, which came accompanied by signals of a likely hike later this year.

After the market closed, AAR Corp. AIR reported its first quarter earnings. EPS of $0.29 came in $0.03 ahead of the Street’s consensus, while revenue of $404.8 million, up 4.7 percent year over year, beat estimates by roughly $6.45 million. Shares traded up almost 2.8 percent in Thursday’s after-hours session, also helped by the award of a Global Aviation Support Services contract from the U.S. Department of State's Bureau of International Narcotics and Law Enforcement Affairs Office of Aviation.

On the other hand, shares of Enphase Energy Inc ENPH fell more than 20 percent since the bell rang this afternoon, driven by the announcement of a restructuring and cost reduction initiatives, which are expected to result in annualized savings of approximately $20 million. The plan includes an 11 percent reduction of the company’s global workforce and the elimination of some non-core projects, at a cost of $3 million. Finally, management said it has plans for a public offering of common stock, although the size is yet to be publicized.

Back to gainers, we’ve got Imperva Inc IMPV, up almost 13 percent in after-hours, helped by rumors about International Business Machines Corp. IBM and Cisco Systems, Inc. CSCO might be interested in acquiring the company – or at least a unit.

Disclosure: Javier Hasse holds no interest in any of the securities or entities mentioned above.