After-Hours Movers 9/21: OCLR, CIM, ADLR Higher; AMR, DDRX, FSX, LPX, EPD, LINC Lower
Oclaro, Inc., (Nasdaq: OCLR) 19% HIGHER; today announced that it received notification from the Listing Qualifications Department of The NASDAQ Stock Market LLC that, for 30 consecutive business days beginning August 3, 2009 the bid price of the Company's common stock on The NASDAQ Global Market closed below the minimum $1.00 per share required for continued listing under NASDAQ Listing Rule 5450(a)(1). Oclaro also announced today that it currently anticipates reporting revenues for Q410 within a range of $82-$87 million. This increases and narrows the $76-$84 million guidance range the Company provided on July 23, 2009. The Street is currently looking for Q4 sales of $79.95 million.
AMR Corp. (NYSE: AMR) 6.4% LOWER; intends to make concurrent offerings of 30,000,000 shares of its common stock and $250,000,000 principal amount of its convertible senior notes due 2014.
Chimera Investment Corporation (NYSE: CIM) 4.5% HIGHER; raised its quarterly dividend from $0.08 to $0.12 today. The dividend is payable October 30, 2009 to common shareholders of record on October 1, 2009. The ex-dividend date is September 29, 2009. The dividend yield moves from 8.18% to 12.28%.
Diedrich Coffee, Inc. (Nasdaq: DDRX) 4.2% LOWER; reports Q4 adj-EPS of $0.29, compared to an adj-loss of $0.37 in the same quarter last year. Revenue for the quarter was $20.1 million, versus $12.9 million in Q408. Sees FY10 sales of $90-$95 million, up 44-52% over FY09. GAAP EPS for the year are expected to be $0.90-$1.00.
Fifth Street Finance Corp. (NYSE: FSC) 4% LOWER; has commenced a public offering of 4 million shares of its common stock. Fifth Street Finance Corp. plans to grant the underwriters for the offering an option to purchase up to an additional 600,000 shares of common stock to cover over-allotments, if any.
Louisiana-Pacific Corporation (NYSE: LPX) 3.2% LOWER; today announced that it plans to publicly offer 18,000,000 shares of its common stock. Goldman, Sachs & Co. will act as the sole book-running agent for the offering. UBS Investment Bank and RBC Capital Markets will act as co-managers on the offering. In addition, LP intends to grant the underwriter a 30-day option to purchase up to 2,700,000 additional shares. The Company intends to use the net proceeds from the offering to reduce debt by retiring up to 35 percent of its senior secured notes due 2017 and for general corporate purposes.
Adolor Corporation (Nasdaq: ADLR) 3% HIGHER; announced that it has acquired from Eli Lilly and Company (NYSE: LLY) the exclusive worldwide rights to OpRA III, a clinical-stage product candidate. Click here to see the full report.
Enterprise Products Partners L.P. (NYSE: EPD) 2.8% LOWER; today announced the commencement of a public offering of 7,250,000 common units representing limited partner interests. Enterprise Products has also granted the underwriters a 30-day option to purchase up to 1,087,500 additional common units to cover over-allotments, if any. Enterprise intends to use the net proceeds from the offering to temporarily reduce borrowings outstanding under its multi-year revolving credit facility and for general partnership purposes. Enterprise expects to use some of the increased availability under the facility to finance capital expenditures and other growth projects.
Lincoln Educational Services Corporation (Nasdaq: LINC) 1.8% LOWER; today announced a public offering of 4,000,000 shares of its common stock to be sold by a selling stockholder. Lincoln also announced today that, based on Q3 starts to date, it expects to exceed its previously issued revenue and diluted EPS guidance for Q309, which was revenue in the range of $134.0-$138.0 million and diluted EPS in the range of $0.34-$0.36, and expects to enter Q409 with approximately 9,000 more students (or approximately 5,600 more students on a same school basis) than it had at the beginning of Q408.
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