Morning Movers 03/28: (AMLN) (PNR) (YELP) (TNK) Higher; (FSM) (ALIM) (SNX) (CBK) Lower
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Amylin (Nasdaq: AMLN) 46.9% HIGHER; the company rejected a $22 per share bid from Bristol-Myers (NYSE: BMY).
Pentair, Inc. (NYSE: PNR) 15.3% HIGHER; Pentair and Tyco International Ltd. (NYSE: TYC) entered a definitive agreement to combine Tyco's Flow Control business with Pentair in a tax-free, all-stock merger. The transaction values Tyco Flow at approximately $4.9 billion.
Fortuna Silver Mines (NYSE: FSM) 14.4% LOWER; the stock was downgraded at CIBC and Cormark this morning following an update on the company's reserves and resources late yesterday.
A123 Systems (Nasdaq: AONE) 14.3% LOWER; Deutsche Bank downgraded the stock to Hold this mornign.
Yelp (Nasdaq: YELP) 14% HIGHER; investors are using the stock as a play on the hot IPO market today. Three IPO's were released today, including a fan favorite Annie's (Nasdaq: BNNY).
Alimera Sciences (Nasdaq: ALIM) 13.6% LOWER; according to an SEC filing from last night, the company said it will take long than originally anticipated to obtain marketing authorization for Iluvien in seven Euro nations. Shares also pushed below the 200-day SMA just after the opening bell.
Synnex Corp. (NYSE: SNX) 13.5% LOWER; reported Q1 EPS of $1.02, $0.10 better than the analyst estimate of $0.92. Revenue for the quarter came in at $2.46 billion versus the consensus estimate of $2.55 billion. Sees Q2 2012 EPS of $0.87-$0.91, versus the consensus of $0.95. Sees Q2 2012 revenue of $2.45-$2.55 million, versus the consensus of $2.6 million. The stock was downgraded at Citi this morning.
Teekay Tankers (NYSE: TNK) 12.9% HIGHER; Dahlman Rose upgraded the stock from Hold to Buy this morning.
Christopher & Banks (NYSE: CBK) 12.3% LOWER; reports net sales of $68.84 million for the nine weeks ended January 28th, 2012. The net loss totaled 89 cents per share.
Glu Mobile (Nasdaq: GLUU) 12.1% HIGHER; M&A chatter heating up amid Zynga's (Nasdaq: ZNGA) purchase of OMGPOP last week. In addition to a Seeking Alpha article calling the stock "The Biggest Acquisition Target In the Gaming Market," Bloomberg also offered some takeover speculation earlier.
US Home Systems, Inc. (NASDAQ: USHS) 11.6% LOWER; reported Q4 EPS of $0.12, $0.01 worse than the analyst estimate of $0.13. Revenue for the quarter came in at $38.7 million versus the consensus estimate of $40.41 million. Sees Q1 2012 EPS of $0.09, versus the consensus of $0.10. Sees Q1 2012 revenue of $40.5 million, versus the consensus of $42.1 million. Raises dividend to $0.03 per share.
Arena Pharma (Nasdaq: ARNA) 11% LOWER; traders are taking profits amid an earlier Piper Jaffray downgrade.
BroadVision (Nasdaq: BVSN) 10.5% HIGHER; the stock has fallen nearly 50 percent over the last six trading sessions. Traders are taking advantage of the move lower today.
Galena Biopharma (Nasdaq: GALE) 10.1% HIGHER; traders are buying the dip today. Following a nearly 70 percent surge over March 20th and March 21st, the stock sold off by about 36 percent over the last four trading sessions. Volume appears to be heavy today.
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Pentair, Inc. (NYSE: PNR) 15.3% HIGHER; Pentair and Tyco International Ltd. (NYSE: TYC) entered a definitive agreement to combine Tyco's Flow Control business with Pentair in a tax-free, all-stock merger. The transaction values Tyco Flow at approximately $4.9 billion.
Fortuna Silver Mines (NYSE: FSM) 14.4% LOWER; the stock was downgraded at CIBC and Cormark this morning following an update on the company's reserves and resources late yesterday.
A123 Systems (Nasdaq: AONE) 14.3% LOWER; Deutsche Bank downgraded the stock to Hold this mornign.
Yelp (Nasdaq: YELP) 14% HIGHER; investors are using the stock as a play on the hot IPO market today. Three IPO's were released today, including a fan favorite Annie's (Nasdaq: BNNY).
Alimera Sciences (Nasdaq: ALIM) 13.6% LOWER; according to an SEC filing from last night, the company said it will take long than originally anticipated to obtain marketing authorization for Iluvien in seven Euro nations. Shares also pushed below the 200-day SMA just after the opening bell.
Synnex Corp. (NYSE: SNX) 13.5% LOWER; reported Q1 EPS of $1.02, $0.10 better than the analyst estimate of $0.92. Revenue for the quarter came in at $2.46 billion versus the consensus estimate of $2.55 billion. Sees Q2 2012 EPS of $0.87-$0.91, versus the consensus of $0.95. Sees Q2 2012 revenue of $2.45-$2.55 million, versus the consensus of $2.6 million. The stock was downgraded at Citi this morning.
Teekay Tankers (NYSE: TNK) 12.9% HIGHER; Dahlman Rose upgraded the stock from Hold to Buy this morning.
Christopher & Banks (NYSE: CBK) 12.3% LOWER; reports net sales of $68.84 million for the nine weeks ended January 28th, 2012. The net loss totaled 89 cents per share.
Glu Mobile (Nasdaq: GLUU) 12.1% HIGHER; M&A chatter heating up amid Zynga's (Nasdaq: ZNGA) purchase of OMGPOP last week. In addition to a Seeking Alpha article calling the stock "The Biggest Acquisition Target In the Gaming Market," Bloomberg also offered some takeover speculation earlier.
US Home Systems, Inc. (NASDAQ: USHS) 11.6% LOWER; reported Q4 EPS of $0.12, $0.01 worse than the analyst estimate of $0.13. Revenue for the quarter came in at $38.7 million versus the consensus estimate of $40.41 million. Sees Q1 2012 EPS of $0.09, versus the consensus of $0.10. Sees Q1 2012 revenue of $40.5 million, versus the consensus of $42.1 million. Raises dividend to $0.03 per share.
Arena Pharma (Nasdaq: ARNA) 11% LOWER; traders are taking profits amid an earlier Piper Jaffray downgrade.
BroadVision (Nasdaq: BVSN) 10.5% HIGHER; the stock has fallen nearly 50 percent over the last six trading sessions. Traders are taking advantage of the move lower today.
Galena Biopharma (Nasdaq: GALE) 10.1% HIGHER; traders are buying the dip today. Following a nearly 70 percent surge over March 20th and March 21st, the stock sold off by about 36 percent over the last four trading sessions. Volume appears to be heavy today.
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