Monday, August 20, 2012

ATP Oil & Gas Plunges 38% (ATPG, MPEL, HDSN, VELT, QIHU)

ATP Oil & Gas Corporation (NASDAQ:ATPG) among the losers and the stock went down 37.91% to $0.285. The Company has filed for Chapter 11 bankruptcy protection on August 17, 2012. This was due to the financial fallout from the deep sea drilling moratorium that followed the Deepwater Horizon disaster. The Company said that its development plans and cash flows had been dramatically impacted by the deepwater drilling stoppage which continued for many months after the BP Plc well blowout off the Louisiana coast on April 20, 2010.

Can ATPG Rebound After Today’s Fall? Find Out here

Melco Crown Entertainment Ltd (ADR) (NASDAQ:MPEL) surged up 3.01% to $11.97. The Company reported GAAP net income of $$82.3 million or $0.15 per ADS compared to $66.7 million or $0.013 per ADS in the prior year period. Net revenue for the second quarter of 2012 declined 2% to $938.5 million. UBS AG increased the rating on the stock from neutral to buy in a research note. The price target is set at $15.00.

Hudson Technologies Inc (NASDAQ:HDSN) jumped up 9.76% to $3.64 on a traded volume of 278k shares. The Company reported second quarter net profit of $5.14 million or $0.20 per share compared to $781 thousand or $0.03 per share in the prior year period. Total revenues for the quarter were $22.25 million compared to $14.71 million in the prior year quarter. The gross margin improved to 46% from 18% in the previous year period.

How Should Investors Trade HDSN Now, get Free Trend Analysis

Velti Plc (NASDAQ:VELT) went up 6.55% to $7.65 on a traded volume of 901k shares after the Company announced second quarter results. Loss was $17.7 million or 28 cents per share compared to loss of $25.1 million or 47 cents per share in the same quarter last year. Revenue soared 71% to $58.7 million. The Company expects revenue within the range of $285 million to $296 million for the full year.
Qihoo 360 Technology Co Ltd (NYSE:QIHU) soared 7.01% to $19.84. The Company will report its second quarter 2012 financial results on August 21, 2012.

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