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After-Hours Movers: Earnings, Restructurings & Buyout Rumors

U.S. stocks closed in green again on Thursday, going on with the rally spurred by the Fed’s decision not to raise rates.

After the market closed, AAR Corp. AIR 3.5% reported first quarter EPS of $0.29, $0.03 ahead of the Street’s consensus, while revenue of $404.8 million beat estimates by roughly $6.45 million. Shares traded up almost 2.8 percent in Thursday’s after-hours session.

Shares of Enphase Energy Inc ENPH 12.84% fell more than 20 percent after the bell rang, driven by the announcement of a restructuring and cost reduction initiatives, which are expected to result in annualized savings of approximately $20 million. The plan includes an 11 percent reduction of the company’s global workforce and the elimination of some non-core projects, at a cost of $3 million. Management said it has plans for a public offering of common stock, although the size is yet to be publicized.

Imperva Inc IMPV 0.91% was up almost 13 percent, helped by rumors about International Business Machines Corp. IBM 0.37% and Cisco Systems, Inc. CSCO 0.96% might be interested in acquiring the company.

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