Shares of Greenhill & Co., Inc.(NYSE:GHL) took a hard knock late Wednesday after the company reported a sharp decline in its second-quarter profit, which came below analysts’ estimates.
Greenhill & Co., Inc.(NYSE:GHL) shares dropped 10.06% to $33.90 in the after hour trading after the company second-quarter profit fell 90%, widely missing analysts estimates, as its advisory revenue nearly halved. The company earned $2.2 million or $0.07 per share in the second quarter, as compared to $21.5 million, or $0.69 per share, in the same quarter last year. Total revenue plunged 48% to 47.3 million. Analysts had expected earnings of $0.25 per share.
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Anthera Pharmaceuticals Inc(NASDAQ:ANTH) shares plunged 13.53% to $1.15 in the after hour trading after the company said it intends to offer and sell shares of its common stock in an underwritten public offering. The Company plans to use the net proceeds from the offering for general corporate purposes. Piper Jaffray & Co. and Leerink Swann LLC are acting as joint book-running managers in the offering.
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Mellanox Technologies, Ltd.(NASDAQ:MLNX) shares soared 43.34% to $95.15 in the after hour trading after the company company's second-quarter profit jumped to $32.09 million or $0.74 per share from $2.13 million or $0.06 per share in the same quarter last year. Adjusted income improved to $0.99 per share from $0.27 per share last year. Total revenues for the quarter surged to $133.47 million from $63.35 million in the prior-year quarter. Analysts expected earnings of $0.74 per share on revenue estimate of $128.34 million for the quarter.
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Platinum Underwriters Holdings, Ltd.(NYSE:PTP) reported second-quarter net income of $67.5 million or $1.97 per share, as compared to a net loss of $20.4 million or $0.55 per share last year. Total revenue for the quarter declined to $194.90 million from $199.99 million in the comparable quarter last year. Analysts expected the company to earn $1.14 per share on revenue of $156.81 million for the quarter.
RLI Corp.(NYSE:RLI) second quarter profit declined, hurt mainly by lower revenues.
Net income for the quarter declined to $24.7 million or $1.15 per share, as against $45.0 million or $2.11 per share in the prior-year quarter. Second-quarter revenues declined 0.2% to $155.7 million. Analysts expected the company to earn $1.15 per share on revenues of $179.56 million.