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Morning Movers 03/21: (SEED) (ASGN) (GALE) Higher; (AGO) (BVSN) (YGE) Lower

March 21, 2012 11:32 AM EDT Send to a Friend
Origin Agritech (Nasdaq: SEED) 46% HIGHER; shares are ripping Wednesday morning on an analyst call regarding upcoming seed regulation changes in China. Following a recent meeting with management, Monness Crespi analyst Chris Shaw said Origin Agritech is most likely to gain approval for the first GMO seed in China.

On Assignment, Inc. (NASDAQ: ASGN) 29.9% HIGHER; has signed a definitive agreement to acquire Apex Systems Inc., a leading information technology staffing and services firm. The transaction will create one of the largest professional staffing firms and the 2nd largest IT staffing firm in the United States. The acquisition is expected to be significantly accretive to On Assignment’s earnings per share, on both a GAAP and cash EPS basis, in 2012 and beyond.

Galena Biopharma (Nasdaq: GALE) 22.5% HIGHER; today announced the appointment of Hope S. Rugo, M.D. to the Company's Scientific Advisory Board. A Seeking Alpha article is likely causing some buys this morning too.

Omnova Solutions, Inc. (NYSE: OMN) 18.7% HIGHER; reported Q1 EPS of $0.22, $0.12 better than the analyst estimate of $0.10. Revenue for the quarter came in at $275.9 million versus the consensus estimate of $259.5 million.

Assured Guaranty (NYSE: AGO) 15.1% LOWER; Moody's placed the company's ratings on review for a downgrade late last night.

BroadVision (Nasdaq: BVSN) 12.8% LOWER; failed to retake the $45 level yesterday. Shares also pushed below the 200-day SMA. The stock plunged sharply as the price broke below $40. Shares have bounced off $35.

USG Corp. (NYSE: USG) 11% HIGHER; reports preliminary sales for January and February of $516.9 million, operating profit of $5.7 million for the period, and a net loss of $30.5 million. During the same period last year, sales were $446.9 million, the operating loss was $46.8 million, and the net loss was $82.3 million.

L & L Energy, Inc. (Nasdaq: LLEN) 11% HIGHER; announced today that it signed a strategic sales agreement with AVIC International Coal Logistics Co., Ltd. ("AVIC Logistics") to expand its efficiency and coal sales throughout the Guizhou province.

Ruby Tuesday (NYSE: RT) 11% HIGHER; Raymond James upgraded the stock from Market Perform to Outperform.

Yingli (NYSE: YGE) 10.7% LOWER; giving back gains following news of a smaller-than-expected US tariff on Chinese solar manufacturers yesterday. The stock rose 12 percent yesterday.

Meritor (Nasdaq: MTOR) 10.3% HIGHER; the company reaffirmed its FY12 outlook yesterday.




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