Following are the notable stock movers in early trade in Thursday’s session.
A123 Systems, Inc.(NASDAQ:AONE) shares are recovering this morning and soared 36% to $0.0745. However, one should be aware of the fact that the stock had slumped 85% in the past couple of trading sessions as the company on Tuesday filed for bankruptcy protection and sold its automotive assets following short of cash and weak sales of electric cars.
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The news came a day after the company alerted of its miss in debt payments and that it could be head for restructuring under Chapter 11. The company is yet to post profit and has lost $83 million in second quarter. Just two months ago did the company announced of a $450 million lifeline from Wanxiang Group Corp which it now terms to be over.
Abbott Laboratories(NYSE:ABT) shares extend losses for the second consecutive session and now down 4% after falling 5% in the prior session. Yesterday, the company had posted better than estimated third quarter earnings, thanks to its arthritis drug Humira.
The company posted net income of $1.94 billion or $1.21 a share on revenue of $9.77 billion, compared to a year ago profit of $303 million or $0.19 a share on revenue of $9.82 billion. On an adjusted basis, the company would have earned $1.30 a share, topping analysts’ target by 2 cents.
Moreover, The drug and medical device company plans to spin off its pharmaceutical business into a separate company by the end of 2012. The new company, AbbVie, will focus solely on branded drugs, including Humira. The original company will focus on nutritional formula, generic drugs and heart stents.
Cybex International, Inc.(NASDAQ:CYBI) shares soared 82% after the company’s board of directors have given green signal to enter into a "going private" merger agreement. The agreed amount per share is calculate sat $2.55.
Align Technology, Inc.(NASDAQ:ALGN) is having a bad session as it slumped 26% late Wednesday, the company announced its preliminary third quarter results. The company posted preliminary EPS of 29 cents and Non-GAAP EPS of 28 cents, analysts are targeting 29 cents. Revenue came in at $136.5 million, missing analysts’ target of $140.14 million.
Broadwind Energy Inc.(NASDAQ:BWEN)) shares soared 30% in early trade after the company won an order worth about $37 million from two U.S. wind turbine manufacturers, for manufacture beginning in late 2012 and extending well into 2013.