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Morning Movers 04/05: (CREG) (ALTH) (AONE) (JRJC) Higher; (PMTC) (PLCM) (GALE) (STZ) Lower

April 5, 2012 11:39 AM EDT
China Recycling Energy (Nasdaq: CREG) 47% HIGHER; shares continuing higher following a nearly 16 percent surge yesterday. The stock seems to be catching some action following massive moves in SmartHeat (Nasdaq: HEAT) and THT Heat Transfer Technology (Nasdaq: THTI) over the last two sessions. CREG shares were halted this morning amid a volatility pause.

Allos Therapeutics, Inc. (NASDAQ: ALTH) 27% HIGHER; Spectrum Pharmaceuticals (NASDAQ: SPPI) and Allos today announced that they have signed a definitive agreement under which Spectrum will acquire all of the outstanding shares of Allos for $1.82 per share in cash plus one Contingent Value Right

A123 Systems, Inc. (Nasdaq: AONE) 25.6% HIGHER; In a 13G filing on A123, hedge fund ALLIANCEBERNSTEIN L.P. disclosed a 10.11%, or 14,849,142 share, stake in the company. This is up 85.36% from the 8,011,162 shares held at the end of the latest quarter ending December 31, 2011.

China Finance Online Co. (Nasdaq: JRJC) 21.2% HIGHER; the stock surged nearly 15 percent over the span of a minute or two in mid-day trade. We are not hearing any company-specific news this morning.

PTC (Nasdaq: PMTC) 20.7% LOWER; reports preliminary non-GAAP revs of $300 million and EPS of 26 cents to 28 cents for its second quarter. The Street was expecting revs of $314.7 million and EPS of 34 cents.

Himax (Nasdaq: HIMX) 19.4% HIGHER; is revising its first quarter revenue guidance to $166.7 million, exceeding its initial guidance which projected revenues to decline by mid-single-digit percentage versus $169.2 million in the fourth quarter of 2011. Gross margin is now expected to be around 22.9%, as compared to previous guidance of flat or down slightly from the 22.1% in the fourth quarter 2011. GAAP EPS is now expected to be around $0.066, as compared to initial guidance of $0.03 to $0.04. The Street was modeling revs of $161.9 million and EPS of 5 cents.

Polycom, Inc. (NASDAQ: PLCM) 15.6% LOWER; warns for Q1. The company expects to report net revenues for the quarter ended March 31, 2012, in the range of $364 million to $370 million, below the consensus of $400.7 million. Sees EPS of $0.21 to $0.23 on a non-GAAP basis, versus the consensus of $0.30.

Galena Biopharma (Nasdaq: GALE) 14.5% LOWER; has priced an underwritten public offering of 8,500,000 shares of its common stock at a public offering price of $1.50 per share.

Constellation Brands Inc. (NYSE: STZ) 13.7% LOWER; reported Q4 EPS of $0.51, $0.13 better than the analyst estimate of $0.38. Revenue for the quarter came in at $628 million versus the consensus estimate of $626.4 million. Announced a $1 billion buyback program. Constellation Brands Inc. sees FY2013 EPS of $1.93-$2.03, versus the consensus of $2.23.

Ruby Tuesday, Inc. (NYSE: RT) 13.5% LOWER; reported Q3 EPS of $0.18, $0.03 better than the analyst estimate of $0.15. Revenue for the quarter came in at $324.8 million versus the consensus estimate of $336.61 million. Comps down 5%. Ruby Tuesday, Inc. sees FY2012 EPS of $0.43-$0.48, versus prior guidance of $0.55-$0.65 and the consensus of $0.56.

Great Wolf Resorts, Inc. (Nasdaq: WOLF) 13% HIGHER; has received an unsolicited letter from KSL Capital Partners proposing to acquire Great Wolf for $6.25 per share in cash.

Meru Networks (Nasdaq: MERU) 13% LOWER; Based on preliminary financial information, Meru Networks expects to report first quarter revenue in the range of $19.0 million to $19.5 million. The company expects to report cash, cash equivalents and investments of approximately $36.6 million and outstanding borrowings on its existing credit facility of $6.9 million as of March 31, 2012. The Street is currently looking for revs of $21.9 million.

Schulman (NASDAQ: SHLM) 12.5% LOWER; reported Q2 EPS of $0.38, $0.07 worse than the analyst estimate of $0.45. Revenue for the quarter came in at $495.9 million versus the consensus estimate of $482.2 million. Expecting FY12 net income to above 2011 level.

FelCor Lodging Trust Incorporated (NYSE: FCH) 11.4% HIGHER; today announced that it has agreed to sell six non-strategic hotels for $103.0 million, in the aggregate, to an undisclosed buyer. The purchaser has paid a $3.9 million hard money deposit toward the purchase price. The transaction is expected to close late in the second quarter. As part of its long-term portfolio repositioning strategy, which includes the sale of 39 non-strategic hotels, FelCor is currently marketing 16 hotels, including the six hotels announced today.

Gold Reserve (AMEX: GRZ) 11.3% LOWER; investors continuing to take profits today following a 35 percent move higher over the last week. The stock feel about 5 percent yesterday.


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