After-Hours Movers 9/17: IHS, GEOY Higher; CLUB, FSP, NMM, SIRI Lower

September 17, 2009 5:36 PM EDT

Town Sports International Holdings Inc. (Nasdaq: CLUB) 10.5% LOWER; disclosed that on September 14, 2009, the staff of the SEC advised the company that a formal order of private investigation had been issued. Since May 2008, CLUB has been providing documents and testimony on a voluntary basis in response to an informal inquiry by the staff of the SEC, which primarily relates to the deferral of certain payroll costs incurred in connection with the sale of memberships in the company's health and fitness clubs and the time period utilized by the company for the amortization of (i) such deferred costs into expense and (ii) initiation fees into revenue. CLUB intends to continue to cooperate fully with the staff of the SEC. CLUB cannot predict the outcome of, or the timeframe for, the conclusion of this investigation.

Franklin Street Properties Corp. (Amex: FSP) 6.8% LOWER; announced today that it commenced an underwritten public offering of 6,000,000 shares of its common stock. FSP also plans to grant the underwriters an option to purchase up to an additional 900,000 shares of common stock. Robert W. Baird & Co. Incorporated is acting as sole book-running manager.

Navios Maritime Partners L.P. (NYSE: NMM) 6.2% LOWER; announced today that it plans to offer 2,800,000 common units representing limited partnership interests in a public offering. Navios Partners expects to grant the underwriters a 30-day option to purchase an additional 420,000 common units to cover over-allotments, if any. Navios Partners expects to use the net proceeds from the public offering to fund its fleet expansion and/or for general partnership purposes.

SIRIUS XM Radio Inc. (Nasdaq: SIRI) 2.8% LOWER; received notice from the Nasdaq Stock Market on September 15, 2009 that its common stock had closed below $1.00 per share for 30 consecutive business days and is therefore not in compliance with the Nasdaq Marketplace Rule 5450(a)(1). In accordance with Marketplace Rule 5810(c)(3)(A), SIRIUS XM may regain compliance if at any time by March 15, 2010 its common stock closes at or above $1.00 for 10 consecutive business days.

IHS Inc. (NYSE: IHS) 1.4% HIGHER; reports Q3 EPS of $0.66, ex-items, 6 cents better than the analyst estimate of $0.60. Revenue for the quarter was $239 million, which compares to the estimate of $234.77 million. Sees FY10 sales up to $1.04-$1.08 billion, versus the consensus of $1.05 billion.

GeoEye, Inc. (Nasdaq: GEOY) 1.3% HIGHER; announced today that it is proposing to offer in a private placement $350 million in aggregate principal amount of Senior Secured Notes due 2015.

deCODE genetics (Nasdaq: DCGN) 1.3% LOWER; has received a notice from the Nasdaq Stock Market indicating that deCODE is not in compliance with Nasdaq Listing Rule 5450(a)(1) because the closing bid price per share for its common stock has been below $1.00 per share for 30 consecutive business days.

To get this report daily, visit http://www.streetinsider.com/entities/After-Hours+Movers.

Related Categories

Special Reports

Stocks Mentioned

Related Entities

• Robert W Baird
• After-Hours Movers

Add Your Comment

Name

Subject

Body

Verification can't see the text?
click here to refresh the image.
what's this?