After-Hours Update: TXN, ARNA, MEE, ALKS
Thursday, September 16, 2021 8:01 PM

Related Stories



Texas Instruments Inc. (NYSE: TXN) late Thursday said that its Board of Directors authorized the company to repurchase an additional $7.5 billion of its common stock. This is in addition to the $1.3 billion in repurchase authorizations remaining at the end of June 2010. Additionally, the company plans to raise its quarterly cash dividend by $0.01 per common share. TI's new quarterly dividend will be $0.13 per share of common stock, resulting in annual dividend payments of $0.52 per common share. Shares of the chipmaker rallied more than 3% in after-hours trading.

Arena Pharmaceuticals, Inc. (NASDAQ: ARNA) tumbled more than 40% in evening trading after it announced that the US Food and Drug Administration Endocrinologic and Metabolic Drugs Advisory Committee voted 9 to 5 that the available data do not adequately demonstrate that the potential benefits of lorcaserin outweigh the potential risks, when used long-term in a population of overweight and obese individuals to allow marketing approval. Lorcaserin, which Arena discovered and has developed, is intended for weight management, including weight loss and maintenance of weight loss, in patients who are obese or patients who are overweight and have at least one weight-related co-morbid condition.

Massey Energy Co. (NYSE: MEE) said Thursday that it expects 2010 operating results to be at the low end of its previously announced guidance range. For the full year 2010, the Company now expects to ship approximately 39 million tons of coal at an average price of approximately $71.00 per ton. The average cash cost(1) of tons shipped is expected to approximate $60.00 per ton. "Our operations have continued to struggle since April," said Don Blankenship, Massey's Chairman and CEO. "As we have noted earlier, increasingly stringent enforcement actions by MSHA across our operations and throughout the Central Appalachian region have resulted in lost shifts and loss of productivity. In addition, our Revolution longwall mine was idled in June for a planned longwall move but has remained down pending approval of its ventilation plan. As a result of these and other factors, we now expect our third quarter shipments to approximate 10 million tons and we expect to report an operating loss for the quarter." Shares of the coal-producer slumped more than 3% in extended trading.

Alkermes, Inc. (NASDAQ: ALKS)
announced Thursday that the U.S. Food and Drug Administration (FDA) Psychopharmacologic Drugs Advisory Committee voted 12 to 1 that VIVITROL(R) (naltrexone for extended-release injectable suspension) should be approved for the treatment of opioiddependence. Shares of the company soared more than 7% in after-hours trading.

Disclosure: Author doesn't own any of the stocks discussed here.
 

Sponsors

Symbol :

Advertisement

Market news:

  • BCS Shocker: Nevada stuns No. 3 Boise State 34-31 Nov 27, 2021 02:18 AM

    • RENO, Nev. - Anthony Martinez kicked a 34-yard field goal in overtime Friday night, capping a Nevada comeback that gave the Wolf Pack a wild 34-31 win over previously unbeaten No.
    • The kick came after Boise State's kicker missed a 26-yard field goal with 2 seconds left in regulation and another from 29 yards in overtime.
    • It snapped Boise State's 24-game winning streak and ended any hopes that the Broncos would play in the BCS title game.
      • BCS Stunner: Nevada stuns No. 3 Boise State 34-31 Nov 27, 2021 02:13 AM

        • RENO, Nev. - Anthony Martinez kicked a 34-yard field goal in overtime Friday night, capping a Nevada comeback that gave the Wolf Pack a 34-31 win over previously unbeaten No.
        • The kick came after Boise State's kicker missed a 26-yard field goal with 2 seconds left in regulation and another from 29 yards in overtime.
        • It snapped Boise State's 24-game winning streak and ended any hopes that the Broncos would play in the BCS title game.
          • Qantas A380 returns to air after engine blowout Nov 27, 2021 02:07 AM

            • SYDNEY - A Qantas superjumbo has taken off from Sydney on the first passenger flight for the airline's A380s since a midair engine explosion earlier this month.
            • The flight marks the resumption of A380 services for the Australian airline, which grounded its fleet of six superjumbos after the engine disintegration shortly after one took off from Singapore on Nov. 4.
            • Qantas spokesman Tom Woodward said the flight left Sydney a few minutes late on Saturday but with no problems.
              • Rio cops, troops seem ready to invade gang haven Nov 27, 2021 02:07 AM

                • RIO DE JANEIRO - Soldiers and police fought with gangsters hunkered down in the twisting alleys of a sprawling shantytown, blocking the escape of drug traffickers in an escalating confrontation that promised residents a dangerous weekend.
                • Brazilian authorities did not detail their plans early Saturday, but it appeared security forces were preparing to invade the Alemao complex, a group of more than a dozen of Rio's most menacing slums.
                • Authorities began raids on slums after a surge of gang violence broke out Sunday.
                  • Thousands expected to protest Irish austerity plan Nov 27, 2021 02:02 AM

                    • DUBLIN - Tens of thousands of demonstrators are expected in Dublin on Saturday to oppose the government's harsh austerity plan, aimed at slashing the country's budget deficit to meet the terms of a bailout for its humbled economy.
                    • The labor union-organized rally follows Irish Prime Minister Brian Cowen's announcement Wednesday of a four-year package to cut spending, raise taxes and ax thousands of state jobs, the toughest budget measures in the nation's history.
                    • Labour Party deputy leader Joan Burton has urged demonstrators to consider the image of Ireland that violent protests would send across the world.

                      More news


Advertisement

    Recent Estimates

AnalystFirm NameSymbolEPS Estimate
GEOXXXXX PAY$0.31
mrbilltraderXXXXX POT$1.15
XXXXXXXXXX OVTI$0.43
sam farahanXXXXX TECD$0.95
XXXXXXXXXX GSS$0.05
XXXXXXXXXX ABB$0.31
adfgafg ERTS($0.26)
XXXXXXXXXX SD$0.03
XXXXXXXXXX ATML$0.11
XXXXXXXXXX CBPO$0.32