NEW YORK, NY – November 2, 2012 - - Glu Mobile Inc.(NASDAQ:GLUU) stock declined 17.18% to $2.70 after the company posted third quarter net loss of $3.6 million, or $0.06 per share, as compared to a net loss of $6.2 million, or $0.10 per share, in the same period last year. The adjusted net loss came in at $0.03 per share. Revenue rose to $21.3 million. Analysts were expecting a net loss of 6 cents per share on revenue of $21.2 million for the quarter.
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AXT, Inc.(NASDAQ:AXTI) stock dropped 12.24% to $2.80 after the company’s revenue for the third quarter of 2012 was $20.8 million, compared to $25.2 million in the second quarter of 2012. Net income in the third quarter of 2012 was $0.9 million or $0.03 per diluted share, compared with net income of $1.3 million or $0.04 per diluted share in the second quarter of 2012.
Additionally, Needham & Company lowered shares of AXTI from a buy rating to a hold rating in a report released today.
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Accuride Corporation(NYSE: ACW) stock fell 10.07% to $2.41 after the company reported third quarter 2012 net sales from continuing operations of $215.2 million, compared with $240.8 million in the same period in 2011, a decline of 10.6%. The Company posted a $9.7 million operating loss for the quarter, as compared to $4.5 million of operating income in the third quarter of 2011. The Company reported a net loss of $17.7 million, or $0.37 per share during the quarter.
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A123 Systems, Inc.(NASDAQ:AONE) shares declined 8.69% to $0.122 after Wanxiang America Corp. said it wants to be the lead bidder for the assets of A123 Systems, the bankrupt maker of electric-car batteries that received a $249.1 million federal grant.
The company has earlier asked a judge to approve a $50 million loan from Wanxiang America Corp., replacing Johnson Controls Inc. (JCI) as the lender for its Chapter 11 case. The company at a Nov. 5 hearing will seek approval of the financing from Wanxiang, which loaned the company $22.5 million before it entered bankruptcy Oct. 16.
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Alexza Pharmaceuticals, Inc.(NASDAQ: ALXA) shares decreased 5.14% to $4.60 in the early hour. The company announced that it will host a teleconference and webcast to provide a general business overview and to discuss its third quarter 2012 financial results on Tuesday, November 6, 2012 at 5:00 p.m. Eastern Time (2:00 p.m. Pacific Time). Financial results for the quarter ended September 30, 2012 will be released after market close on November 6, 2012. The teleconference, webcast and archived replay are open to all interested parties.
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