Morning Movers 01/13: MRNA, ROSG, COIN, GRAN, CRXX Higher; FLDR, AMFI, HEV, RSCR, BGFV Lower
MDRNA, Inc. (NASDAQ: MRNA) 64.4% HIGHER; reported today in vivo data for bladder and liver cancer demonstrating further advancement of the Company's oncology programs. The Company reported a reduction in tumor growth in both liver and bladder cancers by targeting genes key to tumor progression, via both systemic and local delivery with the Company's proprietary UsiRNAs delivered by its novel DiLA2 platform. In addition, MDRNA disclosed the establishment of an early collaborative effort with a major international pharmaceutical company, its second such effort. Click here to see the full report.
Rosetta Genomics, Ltd. (NASDAQ: ROSG) 32.5% HIGHER; announced today that the results of a joint study with the Department of Pathology at Johns Hopkins University School of Medicine were published online yesterday, January 12th, and are set to be published in the January 15, 2010 issue of the American Association for Cancer Research's journal Clinical Cancer Research. The study, "Accurate classification of non-small cell lung carcinoma using a novel microRNA-based approach," shows that Rosetta Genomics' miRview squamous test accurately classified NSCLC samples both from resections, as well as from fine-needle aspirate cell blocks. Click here for the full report.
Flanders Corporation (Nasdaq: FLDR) 24.5% LOWER; today announced that it has submitted written notice to The NASDAQ Stock Market LLC of its intention to voluntarily delist its common stock from the NASDAQ Global Select Market. Click here for the full report.
Converted Organics Inc. (NASDAQ: COIN) 23.1% HIGHER; announced today that, in connection with previously-received orders from Walmart announced last week, the Company has also received orders for its all-natural, organic fertilizers from Sam's Club of Puerto Rico and the Amigos supermarket chain of Puerto Rico. Both Sam's Club and Amigos are affiliates of Walmart. All orders were received by Matosantos Commercial Corporation, the Company's exclusive distributor in the Caribbean.
Bank of Granite (Nasdaq: GRAN) 20.5% HIGHER; continuing its recent run after approaching and breaking above the $1 level yesterday. Since Monday of last week, the stock has surged more than 95%. The company has issued no news, but technicians may be buying the stock on a breakout.
AMCORE Financial (Nasdaq: AMFI) 18.3% LOWER; in a Form 8-K this morning, the company disclosed that an AMCORE unit was notified by "OCC Capital that its restoration was not acceptable and didn't meet "realistic assumptions".
Ener1, Inc. (NASDAQ: HEV) 18.1% LOWER; Ener1 and Fisker Automotive, Inc. have ceased discussions with respect to the feasibility of a business relationship concerning the Fisker Karma vehicle program. The parties remain open to exploring possible future business relationships pertaining to other potential Fisker programs.
ResCare, Inc. (NASDAQ: RSCR) 16.3% LOWER; today announced that it expects to report revenues of approximately $1.58 billion for the year ended December 31, 2009, which represents a decline from its previous guidance of $1.60 billion to $1.63 billion. Street consensus is for FY09 revs of $1.6 billion. This downward revision reflects a challenging economic climate that is forcing certain states to reduce reimbursement rates and services, as well as changes in contract awards. Diluted earnings per common share for 2009 are currently estimated to be approximately $1.20. Street consensus EPS is $1.31. Our current estimate does not include the impact of the recently announced adverse court decision. Click here to see the full report.
Big 5 Sporting Goods Corporation (Nasdaq: BGFV) 15.9% LOWER; reports Q4 sales of $237.6 million, which compares to the estimate of $236.01 million. Same store sales rose 0.1% during the quarter. Sees Q4 adj-EPS of $0.31-$0.33, which compares to the Street estimate of $0.34, and FY09 EPS of $1.00-$1.02, versus the analyst estimate of $1.06.
Affymetrix (NASDAQ: AFFX) 14.9% LOWER; downgraded to Underperform at Barclays, with the target cut in half from $6 to $3. Click here for full color on the downgrade.
CombinatorX (Nasdaq: CRXX) 14.4% HIGHER; shares are bouncing today after moving below the $0.80 level over the last few days. Volume in the stock has already surpassed its normal full trading day average.
Jackson Hewitt Tax Service (NYSE: JTX) 13.7% LOWER; in a Form 8-K, JTX disclosed that Santa Barbara Tax Products (TPG) will seek to offer alternative funding sources for refund anticipation loans if no other sources come up.
Amtech Systems, Inc. (NASDAQ: ASYS) 12.5% HIGHER; today announced that orders booked for its fiscal 2010 first quarter ended December 31, 2009 totaled approximately $59 million. This total includes both solar and semiconductor orders including the large solar order from an existing customer announced on December 18, 2009. A significant portion of these orders are expected to ship within fiscal 2010.
ZBB Energy (AMEX: ZBB) 12.2% HIGHER; announced that it has received an order for a standard, modular ZESS 50 energy storage unit incorporating ZBB's new, proprietary, patent pending ZESS POWR PECC (power & energy control center), from General Atomics. The ZESS power system will be used for a demonstration project at its headquarters in San Diego, California.
Baidu.com (Nasdaq: BIDU) 11.5% HIGHER; shares of the Chinese search engine are soaring this morning on news Google (Nasdaq: GOOG), its biggest competitor in the massively growing Chinese Internet search market, could be leaving after a security breach. Click here to see our full report.
LeCroy Corp. (Nasdaq: LCRY) 11.4% HIGHER; raises its Q2 sales guidance from $28-$30 million to $31 million, which compares to the Street estimate of $29.88 million. Non-GAAP operating margin for the second quarter of fiscal 2010 is expected to be in the range of approximately 7% to 7.5%, which compares to 5.7% in the fiscal first quarter and prior guidance of a 5% to 7% range. LeCroy expects bookings growth of approximately 24% compared with the first quarter of fiscal 2010.
Pacific Ethanol (Nasdaq: PEIX) 11.1% LOWER; traders are taking profits today following 4 straight days of upside in which the stock gained more than 140%.
Luna Innovations (Nasdaq: LUNA) 10.4% LOWER; the stock surged more than 21% yesterday amid late-day news that Luna has emerged from Chapter 11 bankruptcy. Traders are likely taking profits today.
Furniture Brands International, Inc. (NYSE: FBN) 9.4% LOWER; expects total Q4 sales between $280 million and $290 million. (Consensus is $312.52M) Reported financial results for Q4 will include selected items related to severance charges, store and plant closure expenses, inventory charges, plant downtime costs, and asset impairment. The company expects to achieve its guidance of being cash flow positive for fiscal 2009, excluding the effects of debt paydown and tax refunds. The company expects to report a cash and cash equivalents balance of approximately $83 million with debt of $95 million at December 31, 2009, or net debt of approximately $12 million, compared to cash and cash equivalents of $106.6 million and debt of $190 million at December 31, 2008, or net debt of $83.4 million.
Longtop Financial (NYSE: LFT) 9.4% LOWER; the stock appears to be breaking down technically after setting a 52-week high on Monday of this week. With the stock up more than 40% over the last 2-3 months, traders are likely taking some off today. Volume is very heavy.
Health Management Associates, Inc. (NYSE: HMA) 8.3% HIGHER; sees Q4 sales from continuing operations of about $1.2 billion, which compares to the Street estimate of $1.16 billion, on EPS of $0.10-$0.12, versus the consensus estimate of $0.11. For FY09, HMA sees sales of about $4.6 billion and EPS of $0.49-$0.50. The Street is currently looking for FY09 sales and EPS of $4.62 billion and $0.48, respectively. The stock was also upgraded to buy at Stifel Nicolaus.
To get this report daily, visit http://www.streetinsider.com/entities/Morning+Movers.
Rosetta Genomics, Ltd. (NASDAQ: ROSG) 32.5% HIGHER; announced today that the results of a joint study with the Department of Pathology at Johns Hopkins University School of Medicine were published online yesterday, January 12th, and are set to be published in the January 15, 2010 issue of the American Association for Cancer Research's journal Clinical Cancer Research. The study, "Accurate classification of non-small cell lung carcinoma using a novel microRNA-based approach," shows that Rosetta Genomics' miRview squamous test accurately classified NSCLC samples both from resections, as well as from fine-needle aspirate cell blocks. Click here for the full report.
Flanders Corporation (Nasdaq: FLDR) 24.5% LOWER; today announced that it has submitted written notice to The NASDAQ Stock Market LLC of its intention to voluntarily delist its common stock from the NASDAQ Global Select Market. Click here for the full report.
Converted Organics Inc. (NASDAQ: COIN) 23.1% HIGHER; announced today that, in connection with previously-received orders from Walmart announced last week, the Company has also received orders for its all-natural, organic fertilizers from Sam's Club of Puerto Rico and the Amigos supermarket chain of Puerto Rico. Both Sam's Club and Amigos are affiliates of Walmart. All orders were received by Matosantos Commercial Corporation, the Company's exclusive distributor in the Caribbean.
Bank of Granite (Nasdaq: GRAN) 20.5% HIGHER; continuing its recent run after approaching and breaking above the $1 level yesterday. Since Monday of last week, the stock has surged more than 95%. The company has issued no news, but technicians may be buying the stock on a breakout.
AMCORE Financial (Nasdaq: AMFI) 18.3% LOWER; in a Form 8-K this morning, the company disclosed that an AMCORE unit was notified by "OCC Capital that its restoration was not acceptable and didn't meet "realistic assumptions".
Ener1, Inc. (NASDAQ: HEV) 18.1% LOWER; Ener1 and Fisker Automotive, Inc. have ceased discussions with respect to the feasibility of a business relationship concerning the Fisker Karma vehicle program. The parties remain open to exploring possible future business relationships pertaining to other potential Fisker programs.
ResCare, Inc. (NASDAQ: RSCR) 16.3% LOWER; today announced that it expects to report revenues of approximately $1.58 billion for the year ended December 31, 2009, which represents a decline from its previous guidance of $1.60 billion to $1.63 billion. Street consensus is for FY09 revs of $1.6 billion. This downward revision reflects a challenging economic climate that is forcing certain states to reduce reimbursement rates and services, as well as changes in contract awards. Diluted earnings per common share for 2009 are currently estimated to be approximately $1.20. Street consensus EPS is $1.31. Our current estimate does not include the impact of the recently announced adverse court decision. Click here to see the full report.
Big 5 Sporting Goods Corporation (Nasdaq: BGFV) 15.9% LOWER; reports Q4 sales of $237.6 million, which compares to the estimate of $236.01 million. Same store sales rose 0.1% during the quarter. Sees Q4 adj-EPS of $0.31-$0.33, which compares to the Street estimate of $0.34, and FY09 EPS of $1.00-$1.02, versus the analyst estimate of $1.06.
Affymetrix (NASDAQ: AFFX) 14.9% LOWER; downgraded to Underperform at Barclays, with the target cut in half from $6 to $3. Click here for full color on the downgrade.
CombinatorX (Nasdaq: CRXX) 14.4% HIGHER; shares are bouncing today after moving below the $0.80 level over the last few days. Volume in the stock has already surpassed its normal full trading day average.
Jackson Hewitt Tax Service (NYSE: JTX) 13.7% LOWER; in a Form 8-K, JTX disclosed that Santa Barbara Tax Products (TPG) will seek to offer alternative funding sources for refund anticipation loans if no other sources come up.
Amtech Systems, Inc. (NASDAQ: ASYS) 12.5% HIGHER; today announced that orders booked for its fiscal 2010 first quarter ended December 31, 2009 totaled approximately $59 million. This total includes both solar and semiconductor orders including the large solar order from an existing customer announced on December 18, 2009. A significant portion of these orders are expected to ship within fiscal 2010.
ZBB Energy (AMEX: ZBB) 12.2% HIGHER; announced that it has received an order for a standard, modular ZESS 50 energy storage unit incorporating ZBB's new, proprietary, patent pending ZESS POWR PECC (power & energy control center), from General Atomics. The ZESS power system will be used for a demonstration project at its headquarters in San Diego, California.
Baidu.com (Nasdaq: BIDU) 11.5% HIGHER; shares of the Chinese search engine are soaring this morning on news Google (Nasdaq: GOOG), its biggest competitor in the massively growing Chinese Internet search market, could be leaving after a security breach. Click here to see our full report.
LeCroy Corp. (Nasdaq: LCRY) 11.4% HIGHER; raises its Q2 sales guidance from $28-$30 million to $31 million, which compares to the Street estimate of $29.88 million. Non-GAAP operating margin for the second quarter of fiscal 2010 is expected to be in the range of approximately 7% to 7.5%, which compares to 5.7% in the fiscal first quarter and prior guidance of a 5% to 7% range. LeCroy expects bookings growth of approximately 24% compared with the first quarter of fiscal 2010.
Pacific Ethanol (Nasdaq: PEIX) 11.1% LOWER; traders are taking profits today following 4 straight days of upside in which the stock gained more than 140%.
Luna Innovations (Nasdaq: LUNA) 10.4% LOWER; the stock surged more than 21% yesterday amid late-day news that Luna has emerged from Chapter 11 bankruptcy. Traders are likely taking profits today.
Furniture Brands International, Inc. (NYSE: FBN) 9.4% LOWER; expects total Q4 sales between $280 million and $290 million. (Consensus is $312.52M) Reported financial results for Q4 will include selected items related to severance charges, store and plant closure expenses, inventory charges, plant downtime costs, and asset impairment. The company expects to achieve its guidance of being cash flow positive for fiscal 2009, excluding the effects of debt paydown and tax refunds. The company expects to report a cash and cash equivalents balance of approximately $83 million with debt of $95 million at December 31, 2009, or net debt of approximately $12 million, compared to cash and cash equivalents of $106.6 million and debt of $190 million at December 31, 2008, or net debt of $83.4 million.
Longtop Financial (NYSE: LFT) 9.4% LOWER; the stock appears to be breaking down technically after setting a 52-week high on Monday of this week. With the stock up more than 40% over the last 2-3 months, traders are likely taking some off today. Volume is very heavy.
Health Management Associates, Inc. (NYSE: HMA) 8.3% HIGHER; sees Q4 sales from continuing operations of about $1.2 billion, which compares to the Street estimate of $1.16 billion, on EPS of $0.10-$0.12, versus the consensus estimate of $0.11. For FY09, HMA sees sales of about $4.6 billion and EPS of $0.49-$0.50. The Street is currently looking for FY09 sales and EPS of $4.62 billion and $0.48, respectively. The stock was also upgraded to buy at Stifel Nicolaus.
To get this report daily, visit http://www.streetinsider.com/entities/Morning+Movers.
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