4 Stocks Investors are Trading After Hours
Here’s a look at some of the market’s most active stocks in after hours trades today:
1) Electronic Arts (NASDAQ:ERTS) is getting dumped on by investors in after hours trades, down -3.30% this afternoon to build on losses of -.90% on the day. Markets don’t seem to like this piece of news that the video game leader just announced; it will buy PopCap games for a total $750 million in cash and stock. PopCap is the maker of popular games such as “Bejeweled,” “Plants vs. Zombies” and “Zuma,” that can be played on desktops, laptops, and mobile devices. The move for EA may signal an increasing hunger from the leader in console-based games to break into the lucrative mobile gaming markets, as its prior attempts have been unsuccessful. Expect more deals from top video game companies Activision Blizzard, Inc. (NASDAQ:ATVI), THQ Inc. (NASDAQ:THQI), and Take-Two Interactive Software, Inc. (NASDAQ:TTWO).
2) Netflix (NASDAQ:NFLX) moving lower after hours, down -.26%, more than negating the day’s gains, on news that it has offered a new pricing plan to subscribers. The Netflix’s new pricing plan will raise prices for its DVD and Streaming services by 60%, offering a $1 discount on previous pricing for its lowest volume users (1 DVD rental at a time) and then scaled price increases for subscribers to each of its higher volume services, with the steepest toll being exacted on its highest paying customers (8 DVDs at a time), who will pay $56 per month, up from $48. Netflix will give current subscribers until Sept. 1 to select a new plan.
3) Cisco Systems (NASDAQ:CSCO) stock is up .32% after hours, following a bounce of 1.10% on the day thanks to news that the company has two major initiatives underway to help right lagging balance sheets. The first was today’s unveiling of Cisco’s new ‘Catalyst 6500’ switching platform, what one analyst called, “first sign of innovation from the 800-pound switching gorilla in quite some time.” The second is based on speculation among analysts that the company plans to axe 7-14% of its workforce, some 5-10 thousand jobs, in an effort to boost its financial numbers in the second half of 2011.
4) Bank of America (NYSE:BAC) is flat in after hours trades following losses of -1.35% on the day. This afternoon signs of trouble continue to stir for the financial leader as the New York Attorney General’s office reportedly sent letters to 20 companies looking for more information about their participation in BofA’s proposed $8.5B mortgage settlement with Bank of New York Mellon (NYSE:BNY). Don’t Miss: Citigroup, Inc. Second Quarter Earnings Sneak Peek.