5:51 PM EDT, 10/24/2012 (MidnightTrader) -- Akamai (AKAM) firmed higher in Wednesday's after-hours after beating Q3 estimates.
AKAM jumped to positive levels between 37.76 and a high of 38.76 through the first-half of after-hours. It dipped as low as 36.22 near the mid-session before steadying between 37.50 and 38.44 through the second-half of the evening. A pre-market open Thursday may have potential near the 38 mark. AKAM has recorded more aggressive next-day closing levels following 27 of its last 35 after-hours earnings events, or 77% of the time. Looking deeper into performance data, we noted earlier today that longs should take note that AKAM has followed extended-hours earnings reports with gains in 19 quarters, extending that move the following day 14 times, or 74% of the time. The history supporting longs is strong for AKAM, but we would be cautious in the shares as there was some difficulty in the stock holding its gains above 38 Wednesday night. Early buyers may want to target possible entry points at 37.50 to 38, a range that could see lift into the lower- to mid-38s