09/29 StreetInsider.com Unusual 11 Mid-Day Movers
Corcept Therapeutics Incorporated (Nasdaq: CORT) 34.4% LOWER; Announced that the second of its three Phase 3 trials evaluating CORLUX for treating the psychotic features of Psychotic Major Depression was negative.
Research In Motion Ltd. (NASDAQ: RIMM) 20% HIGHER; Reported revenues for Q2, which were $658.5 million vs. $648.39 million consensus. Preliminary adjusted Q2 EPS was $0.77 vs. consensus of $0.71. Sees Q3 revenue in the range of $780-$820 million. Current revenue consensus is $699.14 million. Sees Q3 GAAP earnings in the range of $0.88-0.95 and adjusted Q3 EPS is expected to be between $0.90-0.97. Current Q3 EPS consensus is $0.78.
Active Power Inc. (Nasdaq: ACPW) 20% HIGHER; Stock moving higher with no significant news releases. However, the stock has dropped over 45% since July 6, 2006.
Mechanical Technology Inc. (Nasdaq: MKTY) 17.7% HIGHER; Citigroup analyst expects new announcement on military milestone in coming weeks, highlights renewed Gillette and Samsung agreement and says, "we see material upside to the shares from current trading levels."
USA Truck, Inc. (Nasdaq: USAK) 17% HIGHER; Liberate Technologies announced today that it had offered $21 per share to acquire USA Truck by letter sent to the President of the company.
AZZ incorporated (NYSE: AZZ) 16.3% HIGHER; Reports Q2 EPS of $0.90, 50 cents better than estimates. Revenues were $62.9 million compared to $47.8 million for the same period last year. Sees FY EPS between $2.65-2.75 vs. consensus of $2.01.
Corel Corporation (NASDAQ: CREL) 15.6% HIGHER; Reports Q3 EPS of $0.36 (non-GAAP) vs. consensus of $0.31. (GAAP earnings for Q3 was $0.22). Revenues in the third quarter of fiscal 2006 were $41.3 million, an increase of 7% over revenues of $38.5 million in the third quarter of fiscal 2005.
American Vanguard Corporation (NYSE: AVD) 14.4% LOWER; The Company expects net sales for FY06 to be 4-7% higher than the 2005 level of $190 million (Approx $203.3 million) vs. current consensus of $214.95 million.
Global Payments Inc. (NYSE: GPN) 13% HIGHER; Reports Q1 EPS of $0.54 (excluding stock option expense), 12 cents better than estimates. Revenues were $260.3 million vs. $257.25 million consensus. Raising the low end of annual fiscal 2007 revenue guidance to $1.057 billion, and reaffirming the high end of this guidance of $1.084 billion. Raising annual fiscal 2007 diluted earnings per share guidance to a range of $1.79 to $1.85.
Novelis Inc. (NYSE: NVL) 6.3% HIGHER; Expects total free cash flow for 2006 to be between $150 million and $200 million, and believes it will remain in that range for 2007 as the Company improves its risk mitigation program. The Company anticipates a return to positive earnings before taxes in 2007. Longer term, the Company will target an annual growth rate of 7 to 10 percent for regional income less corporate costs.
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