Shares of Skullcandy, Inc. (SKUL) surged 6% in after hours trading after the headphone maker said that it has appointed Hoby Darling as President and Chief Executive Officer, effective immediately.
Electronic Arts Inc. (EA) shares rose more than 2% in extended hours trading after the video-game publisher said that John Riccitiello will step down as Chief Executive Officer and as a member of the company's Board of Directors, effective March 30. The company has appointed Larry Probst as Executive Chairman while it conducts a search for a permanent CEO. EA also said that it expects revenues and earnings per share for the current quarter to be at the low end of, or slightly below its prior guidance issued on January 30.
Shares of Affymax, Inc. (AFFY) plunged more than 54% in late trading after the drug developer said that it will reduce its workforce by about 230 employees, or 75% as part of a plan to focus its resources on the ongoing investigation of reported hypersensitivity reactions in patients receiving OMONTYS Injection following the nationwide voluntary recall of product from the market. The company also said that it will retain a bank to evaluate strategic alternatives for the organization, including the sale of the company or its assets, or a corporate merger. The company noted that is considering all possible alternatives, including further restructuring activities, wind-down of operations or even bankruptcy proceedings.
FutureFuel Corp. (FF) shares slumped more than 11% in after hours trading after the chemicals and biofuels maker reported fourth quarter profit that missed analyst estimates.
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