Morning Movers 04/04: (MAGS) (GMXR) Higher; (CBLI) (PATK) (SNDK) (WBMD) Lower

April 4, 2012 10:32 AM EDT
Cleveland BioLabs, Inc. (Nasdaq: CBLI) 36.8% LOWER; today announced that the Company received a response from the Biomedical Advanced Research and Development Authority of the Department of Health and Human Services (BARDA) indicating that BARDA has declined to invite the Company to submit a full proposal at this time for continued development funding of CBLB502 as a radiation countermeasure. Notwithstanding this notification, the Company plans to continue the development of CBLB502 as a radiation countermeasure without interruption.

Magal Security Systems Ltd (NASDAQ: MAGS) 33.3% HIGHER; reported Q1 EPS of $0.27, versus ($0.14) reported last year. Revenue for the quarter came in at $33.7 million, versus $15.1 million reported last year.

GMX Resources (NYSE: GMXR) 25.6% HIGHER; today announces that the Company has successfully drilled and completed its fourth operated horizontal Bakken well, the Lange 11-30-1H, 89% working interest, located in Sections 30&31 Township 147N Range 99W in McKenzie County, North Dakota. The Lange 11-30-1H was drilled to a measured depth of 20,519' with a lateral length of 9,348'. It was completed as a 32 stage frac Middle Bakken producer achieving a peak rate of 2,549 boepd @1,500 psi flowing casing pressure.

Patrick Industries (Nasdaq: PATK) 18.3% LOWER; stock giving back the $12 level as traders are taking profits following a strong move higher since the beginning of March. The stock more than doubled over March.

SanDisk (Nasdaq: SNDK) 8.9% LOWER; lowers its Q1 sales outlook from $1.3-$1.35 billion previously to about $1.2 billion, which compares to the Street estimate of $1.34 billion. Sees total gross margin below its previously-issued 39-42 percent range. The company cited weaker pricing and demand.

WebMD Health Corp. (Nasdaq: WBMD) 8.4% LOWER; announced today the preliminary results of its tender offer to repurchase up to $150 million of its common stock through a modified "Dutch auction" tender offer, which expired at 5:00 p.m., New York City time, on Tuesday, April 3, 2012. In accordance with the terms and conditions of the tender offer, WebMD expects to acquire 5,769,230 shares of its common stock at a price of $26.00 per share, for an aggregate cost of $150 million, excluding fees and expenses relating to the tender offer.

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