Imagination Technologies, Red Hat, MabVax Therapeutics Holdings and more - AFTER HOURS

2017-09-25 07:47:00
Proactive Investors takes a look at what happened after hours in New York and what's moving the needle in pre-market deals
Chip marker Imagination Technologies was in focus

There's some Fed talk today coming from the central bank's presidents in New York, Chicago and Minneapolis today after last week's hawkish tone but in company news, biotech MabVax Therapeutics Holdings Inc (NASDAQ:MBVX) may grab some  limelight.

Shares plunged almost 10% to US$0.67 on Friday after it reported a$1.25 million offering to sell around 2mln of its shares at 62 cents each.

Elsewhere, Apple's (NASDAQ:AAPL) chip supplier Imagination Technologies Group plc (LON:IMG) is seeing shares blast nearly 30% higher in London today

It comes as the group late last  week unveiled a deal to be sold to a China-backed private equity firm Canyon Bridge.

Analysts today indicated confidence that the deal would be approved.

China-backed firm reaches deal to buy Apple supplier Imagination Technologies https://t.co/FcVkZ1ByGy

— Wall Street Journal (@WSJ) 23 September 2017 In other news, D.R. Horton Inc (NYSE: DHI) saw shares slump over 3.74% after hours, after the house builder slashed, due to the recent hurricanes, its expectations for its backlog conversion rate for the  fourth quarter.

The company now expects a conversion rate of about 85%, down from previous guidance of 88% to 90%.

Elsewhere, multi-national software firm Red Hat Inc (NYSE:RHT) saw shares nudge 0.66% higher after - hours as Wall Street expects it to have earned $0.67 per share on revenue of $699.54mln.

The group is reporting earnings after the markets close. Red Hat shares slipped 0.51% to close at $106.30 last week.