Zipcar Inc (NASDAQ:ZIP) stock plunged 34.15% to $6.99 after the company reported second-quarter loss of $422,000, or $0.01 a share, from a loss of $5.6 million, or $0.17 a share, in the year-earlier quarter. Revenue rose to $70.8 million from $61.6 million. Analysts had projected the company to break even on revenue of $73.1 million.
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Community Financial Corp. (NASDAQ:CFFC) stock surged 39.74% to $5.45 after City Holding Company and Community Financial Corporation announced today the execution of a definitive agreement by City to acquire Community and its wholly owned subsidiary, Community Bank. The Merger will significantly expand City's presence in Virginia. City recently completed the acquisition of Virginia Savings Bank, headquartered in Front Royal, Virginia. Virginia Savings Bank had assets of $130 million while Community has assets of $500 million.
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Health Net, Inc. (NYSE:HNT) shares declined 18.46% to $18.51 after the company reported second quarter net income of $124.6 million or $1.48 per share from $58.3 million or $0.63 per share in the prior year period. Total revenues increased 7.1% to $2.84 billion from $2.65 billion in the same period a year earlier. Analysts expected earnings of $0.66 per share on revenues of $2.80 billion.
Obagi Medical Products, Inc. (NASDAQ:OMPI) shares plummeted 20.53% to $11.92 after the company said it had not hired any financial advisers for a strategic evaluation, reducing chances of a buyout deal. The company’s key product line, the Nu-Derm System, offers treatments for anti-aging and contains 4% hydroquinone as its key ingredient.
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Additionally, the shares of the company had its “hold” rating reconfirmed by Needham & Company in a research note issued today.
Molycorp, Inc. (NYSE:MCP) stock plunged 26.01% to $11.89 after the company posted second-quarter net loss of $67.60 million or $0.71 per share, as compared to net income of $47.79 million or $0.53 per share in the year-ago period. Adjusted net loss per share for the quarter was $0.03. Net sales for the quarter increased 5% to $104.58 million from $99.62 million in the year-ago period. Analysts expected the company to earn $0.08 per share on revenue estimate of $115.56 million.
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