Shares of China Cord Blood (NYSE:CO) are trading sharply lower after the company announced a sale of 7 million shares at $4.50 per share, giving it $31.5 million in proceeds before expenses. In addtion, some of its stockholders will sell another 1.1 million shares, but the company will not receive any proceeds from those sales, and underwriter Jefferies will have the option to buy another 1.2 million shares to cover over allotments.
Shares plunged over 25 percent.
Oil and gas firm SandRidge Energy (NYSE:SD) announced a surprise quarterly loss, as well as the departure of its CFO, sending the stock lower. The company lost $24.3 million, or $0.06 a share, versus estimates of a $0.02 profit for the quarter. CFO Dirk Van Doren is resign by the end of 2010 to pursue other interests.
Shares are lower by nearly 12.9 percent.
Furniture Brands International (NYSE:FBN) announced a third quarter net loss of $2.1 million, versus a loss of $23.5 million a year ago. Sales were down 7 percent to $272 million versus the third quarter of 2010. Gross margins improved, however, from 23.1 percent a year ago to 24.8 percent.
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