Investors rushed to the exits today as stocks posted their biggest one day decline of the year. This was the fifth straight day the market declined as investors worry about the global economic recovery and the pending earnings season.
Well one of those worries was eased somewhat this afternoon as Alcoa posted strong earnings. Alcoa reported EPS of $0.10 per share, well above estimates of a loss of $0.04 per share. Revenue also beat expectations.
On the economic front, wholesale inventories rose more than expected in February to 0.9%. Analysts were expecting a rise of about 0.5%.
Tomorrow will be an interesting trading day as investors react to Alcoa’s strong earnings.
Activision Blizzard, Inc. (NASDAQ:ATVI) is up 3.05% in after hours trading at $12.75. ATVI closed regular trading down 2.75% at $12.37. ATVI traded average volume today with 11 million shares traded. The company has a market cap of 13.89 billion.
Hovnanian Enterprises Inc. (NYSE:HOV) is up 4.02% in after hours trading at $2.07. HOV traded 5.3 million shares today, more than a million shares more than its daily average. The company has a market cap of 197.16 million.
Century Aluminum Co. (NASDAQ:CENX) is up 3.51% in after hours at $8.25. CENX has traded more than 30 thousand shares in after hours trading and traded 1.5 million shares during normal trading hours. The company has a market cap of 708.09 million.
Focus Media Holding Ltd. (NASDAQ:FMCN) is up 3.26% in after hours at $24.52. FMCN closed the day down 3.34% at $23.75 with 2.4 million shares traded. The company has a market cap of 3.14 billion.
Applied Micro Circuits Corp. (NASDAQ:AMCC) is down 5.91% in after hours trading at $5.89. Applied Micro lowered its fourth quarter guidance late this afternoon. The company has a market cap of 382.92 million.
Hanwha SolarOne Co., Ltd. (NASDAQ:HSOL) is down 2.44% in after hours trading at $1.20. HSOL rose 5.13% in normal trading hours and closed at $1.23. HSOL traded 545 thousand shares today and averages 1.2 million shares a day. The company has a market cap of 103.73 million.