Morning Movers 01/05: OTIV, CADC, MERX, WAVX, CHP Higher; CELL, YRCW, SPTN Lower
Up)
On Track Innovations Ltd. (Nasdaq: OTIV) 72.1% HIGHER; announced today that it had signed contracts relating to a national eID program with total consideration that exceeds $30 million. On Track Innovations said revenues from this Project in 2010 are expected to be over $20 million. An advance payment has been received to support the initial stages of the project which have already commenced.
China Advanced Construction Materials Group (Nasdaq: CADC) 19.7% HIGHER; continuing higher following a nearly 20% rise yesterday. We are not hearing any company-specific news, but the stock could be rising with the rest of the materials group.
Merix Corp. (NASDAQ: MERX) 17.2% HIGHER; reports Q2 EPS of $0.02, 20 cents better than the analyst estimate of ($0.18). Revenue for the quarter was $71.3 million, which compares to the estimate of $63.40 million.
Wave Systems Corp. (NASDAQ: WAVX) 15.8% HIGHER; today announced that it has received a series of significant license and maintenance orders for its EMBASSY Remote Administration Server software for a U.S.-based automotive company for managing its worldwide employees' laptop computers equipped with hardware-based, self-encrypting drives for the protection of sensitive customer, financial, competitive and other confidential data. The orders were received by Wave through an OEM partner in late December and total approximately $5.7 million. Click here for the full report.
C&D Technologies, Inc. (NYSE: CHP) 15.1% HIGHER; today announced that the company has been awarded a contract by the US Army for the development of large-format lithium-ion battery systems. The $19 million contract will span an estimated four year period from September 18, 2009, with the objective of developing large-format lithium-ion batteries that can meet the growing needs of the US Army for light-weight, high power density battery systems. Click here to see the full report.
Universal Power Group, Inc. (AMEX: UPG) 14.8% HIGHER; today announced that it has signed a letter of intent to enter into a multi-year battery distribution agreement with K2 Energy Solutions, Inc., a developer and manufacturer of rechargeable battery systems for electric vehicles and energy storage applications.
Hythiam (Nasdaq: HYTM) 14.4% HIGHER; not hearing any news today. Technicians may be buying the stock today as it's price recently crossed over the 200, 50, and 20-day smooth moving averages. Volume is very heavy.
Brightpoint, Inc. (Nasdaq: CELL) 14.3% LOWER; issued Q4 guidance that was below Street expectations. Sees quarterly adj-EPS of $0.13-$0.18, versus the consensus of $0.19. Click here for the full report.
Synta Pharma (Nasdaq: SNTA) 12.2% HIGHER; upside momentum is continuing today. The stock rose 9% yesterday.
Tenet Healthcare Corp. (NYSE: THC) 10.8% HIGHER; Goldman Sachs added the stock to thier Coviction Buy List. The firm cited expectations for upward earnings revisions on an under-appreciated supply cost opportunity against a backdrop of the lowest relative valuation under coverage. The company also announced that it will implement healthcare information technology solutions from Cerner Corporation to advance Tenet's clinical information system capabilities and to help Tenet quality for stimulus incentives under the American Recovery and Reinvestment Act of 2009.
China Automotive Systems (Nasdaq: CAAS) 9.8% HIGHER; likely trading higher for similar reasons as CADC.
Continental Airlines (NYSE: CAL) 9.5% HIGHER; last night reported December consolidated (mainline plus regional) load factor of 83.0 percent, 3.1 points above the December 2008 consolidated load factor, and a mainline load factor of 83.5 percent, 3.1 points above the December 2008 mainline load factor. The carrier reported a domestic mainline December load factor of 85.1 percent, 1.1 points above the December 2008 domestic mainline load factor, and an international mainline load factor of 81.9 percent, 5.2 points above December 2008. All four December load factors were records for the month.
YRC Worldwide (Nasdaq: YRCW) 9.2% LOWER; since completing its debt-to-equity exchange on Thursday of last week, the stock has tumbled more than 40%.
Aegean Marine Petroleum Network Inc. (NYSE: ANW) 9.1% HIGHER; today announced it has entered into an agreement to acquire Verbeke Bunkering N.V., a leading physical supplier of marine fuel in the Antwerp-Rotterdam-Amsterdam region, the world's second largest bunkering market. The acquisition, which is subject to the completion of detailed documentation, is scheduled to close by the end of the first quarter of 2010. Click here to see the full report.
Spartan Stores, Inc., (Nasdaq: SPTN) 8.8% LOWER; today announced that it plans to operate all supply chain activities from its Grand Rapids, Michigan distribution center. Also said, profitability in Q3 and Q4 will be affected by these circumstances and we now expect Q3 EPS to range between $0.21 and $0.25." The Street is currently looking for Q3 EPS of $0.31. Click here for the full report.
Kandi Tech. (Nasdaq: KNDI) 8.7% HIGHER; continuing higher following yesterday's 30% jump on news of an alliance with China National Offshore.
Bsquare Corporation (NASDAQ: BSQR) 8.7% HIGHER; has renewed its OEM distribution agreement with Microsoft Corporation (Nasdaq: MSFT) under which Bsquare sells Microsoft's complete line of software products for embedded systems to OEMs in North America. The new agreement is effective for a six-month period Jan. 1, 2010 to June 30, 2010 -- at which time Microsoft anticipates introducing updated agreements for its distributors. Under the agreement, Bsquare enables OEMs to quickly adopt Microsoft software products including Microsoft's innovative, new Windows 7-based technologies. Windows 7 for Embedded Systems and Windows Embedded Standard 2011 both enable touch and gesture input improving the end user experience for Bsquare customers building point-of-service, medical and industrial devices.
Royal Bank of Scotland (NYSE: RBS) 8.6% HIGHER; European banks are continuing higher once again today. RBS jumped more than 11% yesterday. The stock was upgraded yesterday.
To get this report daily, visit http://www.streetinsider.com/entities/Morning+Movers.
China Advanced Construction Materials Group (Nasdaq: CADC) 19.7% HIGHER; continuing higher following a nearly 20% rise yesterday. We are not hearing any company-specific news, but the stock could be rising with the rest of the materials group.
Merix Corp. (NASDAQ: MERX) 17.2% HIGHER; reports Q2 EPS of $0.02, 20 cents better than the analyst estimate of ($0.18). Revenue for the quarter was $71.3 million, which compares to the estimate of $63.40 million.
Wave Systems Corp. (NASDAQ: WAVX) 15.8% HIGHER; today announced that it has received a series of significant license and maintenance orders for its EMBASSY Remote Administration Server software for a U.S.-based automotive company for managing its worldwide employees' laptop computers equipped with hardware-based, self-encrypting drives for the protection of sensitive customer, financial, competitive and other confidential data. The orders were received by Wave through an OEM partner in late December and total approximately $5.7 million. Click here for the full report.
C&D Technologies, Inc. (NYSE: CHP) 15.1% HIGHER; today announced that the company has been awarded a contract by the US Army for the development of large-format lithium-ion battery systems. The $19 million contract will span an estimated four year period from September 18, 2009, with the objective of developing large-format lithium-ion batteries that can meet the growing needs of the US Army for light-weight, high power density battery systems. Click here to see the full report.
Universal Power Group, Inc. (AMEX: UPG) 14.8% HIGHER; today announced that it has signed a letter of intent to enter into a multi-year battery distribution agreement with K2 Energy Solutions, Inc., a developer and manufacturer of rechargeable battery systems for electric vehicles and energy storage applications.
Hythiam (Nasdaq: HYTM) 14.4% HIGHER; not hearing any news today. Technicians may be buying the stock today as it's price recently crossed over the 200, 50, and 20-day smooth moving averages. Volume is very heavy.
Brightpoint, Inc. (Nasdaq: CELL) 14.3% LOWER; issued Q4 guidance that was below Street expectations. Sees quarterly adj-EPS of $0.13-$0.18, versus the consensus of $0.19. Click here for the full report.
Synta Pharma (Nasdaq: SNTA) 12.2% HIGHER; upside momentum is continuing today. The stock rose 9% yesterday.
Tenet Healthcare Corp. (NYSE: THC) 10.8% HIGHER; Goldman Sachs added the stock to thier Coviction Buy List. The firm cited expectations for upward earnings revisions on an under-appreciated supply cost opportunity against a backdrop of the lowest relative valuation under coverage. The company also announced that it will implement healthcare information technology solutions from Cerner Corporation to advance Tenet's clinical information system capabilities and to help Tenet quality for stimulus incentives under the American Recovery and Reinvestment Act of 2009.
China Automotive Systems (Nasdaq: CAAS) 9.8% HIGHER; likely trading higher for similar reasons as CADC.
Continental Airlines (NYSE: CAL) 9.5% HIGHER; last night reported December consolidated (mainline plus regional) load factor of 83.0 percent, 3.1 points above the December 2008 consolidated load factor, and a mainline load factor of 83.5 percent, 3.1 points above the December 2008 mainline load factor. The carrier reported a domestic mainline December load factor of 85.1 percent, 1.1 points above the December 2008 domestic mainline load factor, and an international mainline load factor of 81.9 percent, 5.2 points above December 2008. All four December load factors were records for the month.
YRC Worldwide (Nasdaq: YRCW) 9.2% LOWER; since completing its debt-to-equity exchange on Thursday of last week, the stock has tumbled more than 40%.
Aegean Marine Petroleum Network Inc. (NYSE: ANW) 9.1% HIGHER; today announced it has entered into an agreement to acquire Verbeke Bunkering N.V., a leading physical supplier of marine fuel in the Antwerp-Rotterdam-Amsterdam region, the world's second largest bunkering market. The acquisition, which is subject to the completion of detailed documentation, is scheduled to close by the end of the first quarter of 2010. Click here to see the full report.
Spartan Stores, Inc., (Nasdaq: SPTN) 8.8% LOWER; today announced that it plans to operate all supply chain activities from its Grand Rapids, Michigan distribution center. Also said, profitability in Q3 and Q4 will be affected by these circumstances and we now expect Q3 EPS to range between $0.21 and $0.25." The Street is currently looking for Q3 EPS of $0.31. Click here for the full report.
Kandi Tech. (Nasdaq: KNDI) 8.7% HIGHER; continuing higher following yesterday's 30% jump on news of an alliance with China National Offshore.
Bsquare Corporation (NASDAQ: BSQR) 8.7% HIGHER; has renewed its OEM distribution agreement with Microsoft Corporation (Nasdaq: MSFT) under which Bsquare sells Microsoft's complete line of software products for embedded systems to OEMs in North America. The new agreement is effective for a six-month period Jan. 1, 2010 to June 30, 2010 -- at which time Microsoft anticipates introducing updated agreements for its distributors. Under the agreement, Bsquare enables OEMs to quickly adopt Microsoft software products including Microsoft's innovative, new Windows 7-based technologies. Windows 7 for Embedded Systems and Windows Embedded Standard 2011 both enable touch and gesture input improving the end user experience for Bsquare customers building point-of-service, medical and industrial devices.
Royal Bank of Scotland (NYSE: RBS) 8.6% HIGHER; European banks are continuing higher once again today. RBS jumped more than 11% yesterday. The stock was upgraded yesterday.
To get this report daily, visit http://www.streetinsider.com/entities/Morning+Movers.
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