Morning Movers 8/5: ONT, CMLS, INO, RDN, SCLN, PRAN, NVAX Higher; XRM, CVGI, VCLK, ACAS, SXE, AMRI, GCA Lower

August 5, 2009 9:59 AM EDT

On2 Technologies, Inc. (NYSE: ONT) 54.2% HIGHER; and Google Inc. (NASDAQ: GOOG) entered into a definitive agreement under which Google will acquire On2, a leading developer of video compression technology. Under the terms of the agreement, each outstanding share of On2 common stock will be converted into $0.60 worth of Google class A common stock in a stock-for-stock transaction. The transaction is valued at approximately $106.5 million.

Cumulus Media Inc. (NASDAQ: CMLS) 43.8% HIGHER; reports Q2 EPS of $0.35, 24 cents better than the analyst estimate of $0.11. Revenue for the quarter was $65.96 million, versus the consensus of $67.70 million.

Inovio Biomedical Corporation (NYSE: INO) 39.5% HIGHER; announced new data representing what Inovio believes to be the first demonstration of a significantly increased and persistent level of antibody response generated by a DNA vaccine delivered using electroporation. Click here for the full report.

Radian Group Inc. (NYSE: RDN) 36.5% HIGHER; reported a surprise profit of $2.82 per share for the second quarter, versus the analyst consensus of a $1.58 loss. Excluding items, EPS for the quarter were about $0.24 per share, which still was significantly higher than the street view.

SciClone Pharmaceuticals, Inc. (NASDAQ: SCLN) 33.4% HIGHER; reports Q2 EPS of $0.16, versus the analyst estimate of $0.02 and compared to a loss of $0.01 in the same quarter last year. Revenue for the quarter was $22 million, versus the consensus of $16.75 million. Sees FY09 sales of $69-$71 million, versus the consensus of $65.87 million. Sees FY09 EPS of $0.10-$0.14, versus the consensus of $0.06.

Prana Biotechnology (Nasdaq: PRAN) 33.3% HIGHER; today announced that it has secured a key patent protecting its clinical drug asset PBT2, with the European Patent Office issuing a notice of Decision to Grant in Europe. The patent entitled '8-Hydroxyquinoline derivatives' covers the composition of matter of selected families of 8-Hydroxyquinoline compounds, including PBT2 and the uses of such compounds for the treatment of neurological diseases, including Alzheimer's Disease and Huntington's Disease.

Novavax, Inc. (Nasdaq: NVAX) 23.1% HIGHER; said it has manufactured a virus-like particle vaccine candidate against the H1N1 pandemic influenza virus under current good-manufacturing practices at its new vaccine manufacturing facility in Rockville, MD. This milestone was accomplished in only 11 weeks after receiving the gene sequence for the H1N1 strain from the U.S. Centers for Disease Control.

Xerium Technologies, Inc. (NYSE: XRM) 20% LOWER; reports Q2 EPS of $0.03, versus the analyst estimate of ($0.04). Revenue for the quarter was $120.8 million, versus the consensus of $129.16 million.

TNS Inc. (NYSE: TNS) 19% HIGHER; reports Q2 EPS of $0.56, 12 cents better than the analyst estimate of $0.44. Revenue for the quarter was $122 million, versus the consensus of $114.89 million. Raises FY09 EPS guidance from $1.69-$1.84 to $2.04-$2.15, versus the consensus of $1.78, and revs from $468-$482 to $478-$486 million, compared to the Street estimate of $475 million. The stock was also upgraded to Outperform at William Blair.

Commercial Vehicle Group, Inc. (Nasdaq: CVGI) 19% LOWER; reports Q2 loss of $1.04, versus the analyst estimate of ($0.35) and compared to a gain of $0.14 in the same quarter last year. Revenue for the quarter was $103.5 million, versus the consensus of $116.18 million.

Garmin (Nasdaq: GRMN) 18.9% HIGHER; reports Q2 earnings of $0.83 per share, ex-items, 32 cents above consensus of $0.51. Revenues came in at $669 million, versus the consensus of $657.1 million.

Dynavax Technologies Corporation (Nasdaq: DVAX) 18.6% HIGHER; is moving higher after-hours after the company announced it has met with the U.S. FDA to discuss its plans to resume development of HEPLISAVTM, the Company's Phase 3 investigational hepatitis B vaccine. Click here to see the full report.

ValueClick, Inc. (Nasdaq: VCLK) 17.7% LOWER; reports Q2 EPS of $0.23, 9 cents better than the analyst estimate of $0.14. Revenue for the quarter was $130.4 million, versus the consensus of $128.32 million. Sees Q3 EPS 19c to 20c versus 15 cents consensus. Sees Q3 $125M to $130M versus $130M consensus. The stock was also downgraded to Sell at Citi.

American Cap (Nasdaq: ACAS) 16.9% LOWER; reports Q2 EPS of $0.09 versus the analyst estimate of $0.22.

Whole Foods Market (Nasdaq: WFMI) 15.8% HIGHER; reports Q3 EPS of $0.25, including a LIFO credit of 2cents, 5 cents better than the analyst estimate of $0.20. Revenue for the quarter was $1.9 billion, versus the consensus of $1.86 billion. Also upgraded at Morgan Stanley to Equalweight.

LoJack Corp. (Nasdaq: LOJN) 15.8% HIGHER; reports Q2 EPS of $0.09 versus the analyst estimate of ($0.04). Revenue for the quarter was $35.4 million, versus the consensus of $34.57 million.

Stanley, Inc. (NYSE: SXE) 15% LOWER; reports Q1 EPS of $0.45, 4 cents better than the analyst estimate of $0.41. Revenue for the quarter was $208.7 million, versus the consensus of $211.05 million. Sees Q2 EPS of $0.41-$0.43, versus the Street estimate of $0.43. Sales for the quarter are expected to be $206-$213 million, versus the consensus of $217 million. Sees FY09 EPS of $1.68-$1.74, versus the consensus of $1.75. Sales for the year are expected to be $825-$875 million, versus the consensus of $893 million.

Albany Molecular Research (Nasdaq: AMRI) 14.6% LOWER; reports Q2 EPS of $0.04, 5 cents worse than the analyst estimate of $0.09. Revenue for the quarter was $51.3 million, versus the consensus of $51.90 million. “In the third quarter, we expect contract revenue to range from $37 million to $41 million, a decrease of 24% to 32% from the third quarter of 2008. (Consensus is $51.01M) For the full year 2009, we expect contract revenue to range from $154 million to $162 million, a decrease of 17% to 21% versus 2008.” (Consensus is $211.71M) Click here for the full report.

Global Cash Access Holdings, Inc. (NYSE: GCA) 13.6% LOWER; reports Q2 cash EPS from continuing operations of $0.18, versus the analyst estimate of $0.18. Revenue for the quarter was $173 million, versus the consensus of $180.15 million. Sees FY09 sales at or slightly below the low end of its previously issued guidance of $700-$730 million. Cash EPS are expected to be in the range of $0.70-$0.74.

Bowne & Co., Inc. (NYSE: BNE) 13.4% LOWER; reports Q2 loss of $0.13, versus the analyst estimate of $0.02. Revenue for the quarter was $189 million, versus the consensus of $178.24 million. Lowers its FY09 sales guidance from $700-$770 million to $640-$700 million, which compares to the Street estimate of $701.61 million. Bowne also announced that it plans to publicly offer 10.5 million shares of its common stock. In addition, it intends to grant the underwriter a 30-day option to purchase up to 1.575 million additional shares. Goldman, Sachs & Co. is serving as the sole underwriter for the offering. The Company intends to use the net proceeds from the offering to repay its term loans in their entirety and expects to use any remaining proceeds to repay borrowings under its revolving credit facility.

Liquidity Services Inc (Nasdaq: LQDT) 12.4% LOWER; reports Q3 EPS of $0.16, ex-items, in-line with the analyst estimate of $0.16. Revenue for the quarter was $58 million, versus the consensus of $60.15 million. Sees Q3 non-GAAP EPS of $0.10-$0.13, versus the consensus of $0.17. Lowers FY09 adj-EPS guidance from $0.38-$0.40 to $0.45-$0.47, which compares to the Street estimate of $0.45.

Lincoln Educational Services Corporation (Nasdaq: LINC) 12.1% HIGHER; reports Q2 EPS of $0.27, versus the analyst estimate of $0.19. Revenue for the quarter was $128.1 million, versus the consensus of $120.86 million. Sees Q3 sales of $134-$138 million, versus the consensus of $132.08 million, with EPS in the range of $0.34-$0.36, which compares to the Street estimate of $0.30. Sees FY09 sales of $518-$525 million, versus the consensus of $508.91 million. EPS for the year are expected to be in the range of $1.40-$1.45, versus the Street estimate of $1.29.

Terra Industries Inc. (NYSE: TRA) 11.3% HIGHER; CF Industries Holdings, Inc. (NYSE: CF) today announced that its board of directors is prepared to increase CF Industries' offer for a business combination with Terra to a fixed exchange ratio of 0.465 shares of CF Industries for each Terra common share. Click here for the full report.

Ameristar Casinos, Inc. (NASDAQ: ASCA) 11% LOWER; reports Q2 EPS of $0.32, ex-items, 6 cents lower than the analyst estimate of $0.38. Revenue for the quarter was $328.1 million, versus the consensus of $320.10 million.

Masimo Corporation (Nasdaq: MASI) 10.9% HIGHER; reports Q2 EPS of $0.22, 1 cent better than the analyst estimate of $0.21. Revenue for the quarter was $83.6 million, versus the consensus of $87.46 million. Reaffirms EPS guidance of $0.83-$0.87, versus the consensus of $0.88 and lowering FY09 product revenue from $352-$361 million to $339-$346 million, which compares to the Street estimate of $358.7 million.

LHC Group, Inc. (NASDAQ: LHCG) 10.7% LOWER; reports Q2 EPS of $0.57, 4 cents better than the analyst estimate of $0.53. Revenue for the quarter was $132.6 million, versus the consensus of $124.92 million. Reaffirms guidance.

American Public Education (Nasdaq: APEI) 10.5% LOWER; reports Q2 EPS of $0.28, 1 cent better than the analyst estimate of $0.27. Revenue for the quarter was $35.7 million, versus the consensus of $35.08 million. Sees Q3 EPS of $0.25-$0.27, versus the consensus of $0.31 and revs of $35-$36 million, versus the consensus of $38.1 million.

Caribou Coffee (Nasdaq: CBOU) 10.4% HIGHER; reports Q2 EPS of $0.06, 6 cents better than the analyst estimate of $0.00. Revenue for the quarter was $63.0 million, versus the consensus of $63.20 million.

Orbitz Worldwide, Inc. (NYSE: OWW) 9.9% HIGHER; reports Q2 EPS of $0.12, versus the analyst estimate of ($0.06). Revenue for the quarter was $188 million, versus the consensus of $188.41 million.

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