From Dow Jones Newswires:
From Reuters via Forbes (Nov. 6):
A123 Systems Inc.'s (AONE) third-quarter loss widened, hurt by higher costs and expenses, even as the electric-car battery maker saw revenue rise slightly.
Shares of A123, which held a well-received $380 million initial public offering in September, jumped 3%, to $18.52 in after-hours trading, as revenue topped Wall Street estimates.
A123 is benefiting from auto-industry interest in clean-energy technologies, resulting in deals with BMW AG (BMW.XE) and Chrysler Group LLC to develop lithium-ion batteries for hybrid and fully electric vehicles. But the company has been burning through cash, raising expectations it will hold debt or stock sales to raise money.A123's loss widened to $22.8 million, from $19 million a year earlier. The per-share loss narrowed, to $1.78 from $2.06, as there were more shares outstanding in the most recent period...MORE
Shares of A123 Systems fell 5.2 percent to $16.73 after Jim Cramer from CNBC's Mad Money TV Program said easy money has been made on the lithium-ion battery maker and the stock is now played out. A123 Systems shares jumped 50 percent on their first day of trading after its initial public offering in September.
In the options market, sellers turned up to short call options expiring in December with a $22.5 strike price, wrote Andrew Wilkinson, senior market analyst at Interactive Brokers Group, in a note to clients....