Morning Movers 01/17: (CNVO) (VQ) (BVSN) (PVX) (TSLA) Higher; (KGC) (RRD) (CCL) Lower
Up)
Convio, Inc. (NASDAQ: CNVO) 48% HIGHER; entered into a definitive agreement to be acquired by Blackbaud, Inc. (NASDAQ: BLKB) for $16 per share in cash.
Venoco, Inc. (NYSE: VQ) 41.1% HIGHER; has entered into a definitive merger agreement under which Timothy M. Marquez, Venoco's Chairman and CEO, who, together with affiliated trusts and foundations, holds 50.3% of Venoco's common stock, will acquire Venoco through a wholly owned entity, Denver Parent Corporation. Under the agreement, Venoco shareholders, excluding Mr. Marquez and his affiliated entities, will receive $12.50 per share in cash upon completion of the transaction.
BroadVision (Nasdaq: BVSN) 24% HIGHER; continuing to breakout this week as news the company's Clearvale was selected to provide the social business platform for London's Digital Summit. Shares have doubled so far in 2012.
Provident Energy Ltd. (NYSE: PVX) 21.7% HIGHER; Pembina Pipeline Corporation and Provident announced they have entered into an agreement for Pembina to acquire all of the issued and outstanding common shares of Provident. Under the terms of the Arrangement Agreement, Provident shareholders will receive 0.425 of a Pembina share for each Provident share held.
Tesla Motors (Nasdaq: TSLA) 17.6% HIGHER; after initially falling amid reports Friday two directors left the company, upgrades from Goldman Sachs and Wunderlich this morning have investors buying into shares this morning.
USEC Inc. (NYSE: USU) 17.2% HIGHER; announced today that it continues to work on the American Centrifuge project and that USEC and the Department of Energy (DOE) have identified a path to provide interim funding for the initial phase of a research, development and demonstration (RD&D) program for the project.
Kinross Gold (NYSE: KGC) 16.6% LOWER; yesterday offer worse-than-expected 2011 and 2012 production results. The Company anticipates capital expenditures in 2012 of approximately $1.3 billion related to growth projects, primarily for Tasiast. The 2012 forecast for exploration and business development expenses is approximately $255 million, of which $185 million is forecast for exploration. Capitalized exploration is forecast to be $35 million, for total 2012 forecast exploration expenditures of $220 million. Click here to see the full release.
R.R. Donnelley & Sons Company (Nasdaq: RRD) 15.6% LOWER; reports expected full-year 2011 free cash flow (cash flow from operations less capital expenditures) to be in the range of $650 million to $700 million, an increase from the previous guidance that called for free cash flow of approximately $600 million. Revenue is expected to be $10.6 billion, non-GAAP operating margin is expected to be 6.6% to 6.7%, non-GAAP effective tax rate is expected to be 23% to 24% and fully-diluted weighted average share count is expected to be 196 million to 197 million. The Street sees revs of $10.61 billion.
Carnival (NYSE: CCL) 14.2% LOWER; lower following this weekend's tragic Costa Concordia cruise shipwreck that killed at least 6 people with 29 more missing. The company warned of a financial impact from the shipwreck.
Suntech (NYSE: STP) 13.5% HIGHER; continuing to breakout this week; shares have surged 33 percent since the beginning of 2012. Goldman Sachs recommended buying shares of First Solar (Nasdaq: FSLR) ahead of Q4 results this morning.
ArQule, Inc. (Nasdaq: ARQL) 12.9% HIGHER; announced that treatment with tivantinib as single agent therapy produced a statistically significant 56 percent improvement in time-to-progression (TTP) in the intent-to-treat (ITT) population, the primary endpoint in a randomized, controlled Phase 2 clinical trial in previously treated patients with hepatocellular carcinoma (HCC) (hazard ratio = 0.64; log rank p-value = 0.04).
Yingli (NYSE: YGE) 12.6% HIGHER; continuing higher with the rest of the solar sector.
Delcath (Nasdaq: DCTH) 12.3% LOWER; shares have broken below support at $4 and $3.75 today.
Denison Mines Corp. (Amex: DNN) 11.3% HIGHER; announced that its 2012 operating plan forecasts production of 1.4 million pounds U3O8 and 0.6 million pounds V2O5 from its operations in the United States. Click here to see the full release.
Uranium Resources (Nasdaq: URRE) 11.3% HIGHER; trading higher amid the production guidance from Denison Mines.
New Oriental Education & Technology Group (NYSE: EDU) 10.8% LOWER; reported Q2 non-GAAP EPS of $0.05, $0.03 better than the analyst estimate of $0.02. Revenue for the quarter came in at $132 million versus the consensus estimate of $129.42 million. New Oriental Education & Technology Group sees Q3 2012 revenue of $168.3-$176.2 million, versus the consensus of $177.16 million.
Sears (Nasdaq: SHLD) 10.6% HIGHER; trading higher amid rumors the company could go private.
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Venoco, Inc. (NYSE: VQ) 41.1% HIGHER; has entered into a definitive merger agreement under which Timothy M. Marquez, Venoco's Chairman and CEO, who, together with affiliated trusts and foundations, holds 50.3% of Venoco's common stock, will acquire Venoco through a wholly owned entity, Denver Parent Corporation. Under the agreement, Venoco shareholders, excluding Mr. Marquez and his affiliated entities, will receive $12.50 per share in cash upon completion of the transaction.
BroadVision (Nasdaq: BVSN) 24% HIGHER; continuing to breakout this week as news the company's Clearvale was selected to provide the social business platform for London's Digital Summit. Shares have doubled so far in 2012.
Provident Energy Ltd. (NYSE: PVX) 21.7% HIGHER; Pembina Pipeline Corporation and Provident announced they have entered into an agreement for Pembina to acquire all of the issued and outstanding common shares of Provident. Under the terms of the Arrangement Agreement, Provident shareholders will receive 0.425 of a Pembina share for each Provident share held.
Tesla Motors (Nasdaq: TSLA) 17.6% HIGHER; after initially falling amid reports Friday two directors left the company, upgrades from Goldman Sachs and Wunderlich this morning have investors buying into shares this morning.
USEC Inc. (NYSE: USU) 17.2% HIGHER; announced today that it continues to work on the American Centrifuge project and that USEC and the Department of Energy (DOE) have identified a path to provide interim funding for the initial phase of a research, development and demonstration (RD&D) program for the project.
Kinross Gold (NYSE: KGC) 16.6% LOWER; yesterday offer worse-than-expected 2011 and 2012 production results. The Company anticipates capital expenditures in 2012 of approximately $1.3 billion related to growth projects, primarily for Tasiast. The 2012 forecast for exploration and business development expenses is approximately $255 million, of which $185 million is forecast for exploration. Capitalized exploration is forecast to be $35 million, for total 2012 forecast exploration expenditures of $220 million. Click here to see the full release.
R.R. Donnelley & Sons Company (Nasdaq: RRD) 15.6% LOWER; reports expected full-year 2011 free cash flow (cash flow from operations less capital expenditures) to be in the range of $650 million to $700 million, an increase from the previous guidance that called for free cash flow of approximately $600 million. Revenue is expected to be $10.6 billion, non-GAAP operating margin is expected to be 6.6% to 6.7%, non-GAAP effective tax rate is expected to be 23% to 24% and fully-diluted weighted average share count is expected to be 196 million to 197 million. The Street sees revs of $10.61 billion.
Carnival (NYSE: CCL) 14.2% LOWER; lower following this weekend's tragic Costa Concordia cruise shipwreck that killed at least 6 people with 29 more missing. The company warned of a financial impact from the shipwreck.
Suntech (NYSE: STP) 13.5% HIGHER; continuing to breakout this week; shares have surged 33 percent since the beginning of 2012. Goldman Sachs recommended buying shares of First Solar (Nasdaq: FSLR) ahead of Q4 results this morning.
ArQule, Inc. (Nasdaq: ARQL) 12.9% HIGHER; announced that treatment with tivantinib as single agent therapy produced a statistically significant 56 percent improvement in time-to-progression (TTP) in the intent-to-treat (ITT) population, the primary endpoint in a randomized, controlled Phase 2 clinical trial in previously treated patients with hepatocellular carcinoma (HCC) (hazard ratio = 0.64; log rank p-value = 0.04).
Yingli (NYSE: YGE) 12.6% HIGHER; continuing higher with the rest of the solar sector.
Delcath (Nasdaq: DCTH) 12.3% LOWER; shares have broken below support at $4 and $3.75 today.
Denison Mines Corp. (Amex: DNN) 11.3% HIGHER; announced that its 2012 operating plan forecasts production of 1.4 million pounds U3O8 and 0.6 million pounds V2O5 from its operations in the United States. Click here to see the full release.
Uranium Resources (Nasdaq: URRE) 11.3% HIGHER; trading higher amid the production guidance from Denison Mines.
New Oriental Education & Technology Group (NYSE: EDU) 10.8% LOWER; reported Q2 non-GAAP EPS of $0.05, $0.03 better than the analyst estimate of $0.02. Revenue for the quarter came in at $132 million versus the consensus estimate of $129.42 million. New Oriental Education & Technology Group sees Q3 2012 revenue of $168.3-$176.2 million, versus the consensus of $177.16 million.
Sears (Nasdaq: SHLD) 10.6% HIGHER; trading higher amid rumors the company could go private.
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