The market finished the day flat as investors waited for earnings season to begin in earnest after the close. Alcoa announced after the bell and the company swung to a loss after posting a profit a year earlier. The loss was attributed to slumping prices and rising costs. The company also announced it would idle around 12% of its smelting capacity in the first quarter to increase competitiveness.
In tech stocks Netflix continued its bounce off its lows as the stock gained another 13% in trading. The stock was flying high after Whitney Tilson said the stock was a potential buyout target. Netflix also launched a streaming service in the UK and Ireland.
Overall economic strength was buoyed by the news that consumer credit had advanced the most in a decade. It is a sign that consumers are willing to make big purchases such as autos. Whether or not this is sustainable is yet to be seen and any sharp downturn in Europe could freeze the credit markets here in the states again.
Here are a few stocks to watch in after-hours trading:
Cirrus Logic, Inc. (NASDAQ:CRUS) is up 8.13% in after hours trading at $18.35. CRUS traded 1.6 million shares today, slightly below its daily average of 1.8 million shares. Cirrus announced after market close preliminary third quarter revenue grew 28% this past year to $122 million. The market cap of 1.08 billion.
Thoratec Corp. (NASDAQ:THOR) is up 3.90% in after hours at $30.13. THOR closed the day down 3.75% at $29.00 with 1.5 million shares traded. THOR shares have lost more than $4 a share since last Tuesday. Thoratec was downgraded earlier today to market perform from outperform by Wells Fargo. The company has a market cap of 1.74 billion.
HollyFrontier Corporation (NYSE:HFC) is up slightly in after hours trading at $25.90. HFC closed the day down 3.50% at $25.88 with 3.6 million shares traded. HFC stock trades on average around 4 million shares a day. The company has a market cap of 5.38 billion.
Novavax, Inc. (NASDAQ:NVAX) is up about 1% in after hours trading at $1.44. NVAX closed the day up more than 4% at $1.43. NVAX traded close to three times daily average volume with 1.3 million shares traded. NVAX shares have been trending slightly higher over the past week gaining about $0.15 a share. The company has a market cap of 164.41 million.
Clearwire Corporation (NASDAQ:CLWR) is up 1.35% in after hours trading at $1.88. CLWR finished the day down 1.60% at $1.85 on light volume. CLWR traded 2.2 million shares today, well below its daily average of 13.6 million shares. The company has a market cap of 461.95 million.
Zynga, Inc. (NASDAQ:ZNGA) is up about 1% in after hours trading today after it took another hit today. ZNGA closed today down more than 9% at $8.00 with 9.7 million shares traded. ZNGA has been steadily falling since its IPO at $10 last month. The company has a market cap of 5.59 billion.
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