Morning Movers 8/28: MCZ, SVA, ARUN, OVTI, STM Higher; CPWM, ALTH, IMMU, NCTY Lower

August 28, 2009 9:42 AM EDT

Mad Catz(R) Interactive, Inc. (AMEX: MCZ) 64.5% HIGHER; announced today that it has signed a multi-year licensing agreement with Sony Computer Entertainment America Inc. Pursuant to the agreement, Mad Catz has North American rights to manufacture, market, and sell wireless Rock Band(R)-compatible Fender(TM) American Precision Bass(TM) replica, Fender Telecaster(TM) replica and Fender full-size, wooden Stratocaster(TM) guitar controllers for the PlayStation(R) 3 computer entertainment system.

Cost Plus (Nasdaq: CPWM) 22% LOWER; reports Q2 loss from continuing operations of $0.90, 6 cents lower than the analyst estimate of ($0.84). Sees Q3 sales of $177-$186 million.

Sinovac Biotech Ltd. (NYSE: SVA) 20% HIGHER; announced that the Beijing Public Health Bureau has selected Sinovac as one of the four manufacturers to supply Anflu(R), Sinovac's seasonal influenza vaccine, for the benefit of the citizens of Beijing. The Beijing Public Health Bureau completed the bidding process for the purchase of flu vaccines and corresponding services for 2009 on August 26, 2009. The agreement will be executed after the public notice period.

Aruba Networks, Inc. (Nasdaq: ARUN) 15.5% HIGHER; reports Q4 EPS of $0.03, ex-items, 1 cent better than the analyst estimate of $0.02. Revenue for the quarter was $53.3 million, versus the consensus of $49.45 million. The stock was also upgraded to Outperform at RBC Capital.

OmniVision Technologies, Inc. (Nasdaq: OVTI) 15.1% HIGHER; reports a Q1 loss of $0.08, 3 cents better than estimates. Revenues for the first quarter of fiscal 2010 were $105.6 million vs. $99.13 million consensus. Based on current trends, the Company expects fiscal second quarter 2010 revenues will be in the range of $155 million to $170 million vs. consensus of $111.81M. The Company expects its non-GAAP net income per share attributable to OmniVision Technologies, Inc. common stockholders will be between $0.10 and $0.20 per diluted share. (Consensus is a loss of $0.04). The stock also had its price target raised at Kaufman.

Allos Therapeutics (Nasdaq: ALTH) 11.7% LOWER; The FDA Oncologic Drugs Advisory Committee will hold a meeting on September 2, 2009, to review ALTH's New Drug Application for pralatrexate for the treatment of patients with relapsed or refractory peripheral T-cell lymphoma. The PDUFA date is September 24.

STMicroelectronics (NYSE: STM) 10.2% HIGHER; in its "Half-year report 2009", STM issues Q3 guidance: sees sales of $2.07-$2.27 billion, which compares to the Street estimate of $2.19 billion.

Merriman Curhan Ford (Nasdaq: MERR) 10.1% HIGHER; just before the close yesterday announced that it signed definitive agreements for today's funding of $10.2 million through an oversubscribed private placement of convertible preferred stock. The proceeds from the transaction will be used to reposition the firm for profitable growth and settle $43.5 million of previously disclosed civil legal claims that resulted from the unethical conduct of a rogue retail broker in 2008.

Immunomedics, Inc. (Nasdaq: IMMU) 9.4% LOWER; reports Q4 EPS of $0.01, in-line with the analyst estimate of $0.01. Revenue for the quarter was $8.3 million, versus the consensus of $8.37 million.

AIG (NYSE: AIG) 9.3% HIGHER; continuing higher once again today. The stock is up more than 300% since the beginning of August. The WSJ reported this morning that AIG's CEO Robert Benmosche is taking a more patient approach towards selling off assets than his predecessor. In fact, Benmosche is willing to wait as long as three years, to offer stakes in two multibillion-dollar foreign units that the insurer had been looking to immediately spin off. "It's not a question of if, but when. Once the market gives us a price that I think is fair, we can go forward. ... If we sell too soon, everyone loses," Benmosche told the Journal. "The sum of the parts are a little below the whole. The whole has to be big enough to pay back the government, and with a little hard work there will be something left called AIG," he said.

Dollar Financial Corp. (Nasdaq: DLLR) 8.8% HIGHER; reports Q4 EPS of $0.39, ex-items, 6 cents better than the analyst estimate of $0.33. Sees FY10 adj-EP Sof $1.90-$2.10, versus the consensus of $1.79.

The9 Ltd. (Nasdaq: NCTY) 8.2% LOWER; reports Q1 loss of $0.26, compared to a loss of $0.46 in the same quarter last year. Revenue for the quarter was $62.4 million, versus the consensus of $60.12 million. The company also reported Q2 loss of $0.46, compared to a gain of $0.52 in the same quarter last year. Revenue for the quarter was $42.2 million, versus the consensus of $54.40 million.

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