Morning Movers 04/05: (NSM) (NVGN) (ISPH) (QCOR) Higher; (DGW) (LEDS) (MERU) Lower
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National Semi (NYSE: NSM) 71% HIGHER; Texas Instruments to buy National Semi for $25/share in cash. The stock was upgraded at Citi and Citadel and downgraded at Miller Tabak and Susquehanna.
Novogen (Nasdaq: NVGN) 44.3% HIGHER; traders are buying today following an extremely volatile trading session over the last week. After surging more than 100% on Monday of last week (on no news), the stock sold-off by about 47%. 1.45 million shares have already traded hands, vs. the normal average daily volume of just 241,000 shares.
Inspire Pharmaceuticals, Inc. (Nasdaq: ISPH) 25.1% HIGHER; Merck (NYSE: MRK) and Inspire have entered into a definitive agreement whereby Merck will acquire Inspire for $5.00 per share in cash, or total consideration of $430 million.
Duoyuan Global Water (NYSE: DGW) 24.6% LOWER; announces that its CFO Stephen Park has announced his intention to leave the company in order to pursue another interest.
Questcor Pharmaceuticals, Inc. (Nasdaq: QCOR) 22.2% HIGHER; reports the following operating metrics for Q1. Sales were $48.6 million in the quarter, surpassing consensus views calling for revs of $33.60 million. Click here to see full details of the preliminary results.
SemiLEDs Corporation (NASDAQ: LEDS) 17.1% LOWER; reported Q2 loss of $0.03, versus the analyst estimate of $0.08. Revenue for the quarter came in at $10 million versus the consensus estimate of $11.22 million. SemiLEDs Corporation sees Q311 GAAP loss of ($0.10) - ($0.07), which may not compare to the consensus of $0.14. Also sees Q311 revenue of $6-$7 million, versus the consensus of $13.88 million.
Meru Networks (Nasdaq: MERU) 16.9% LOWER; offers preliminary Q1 results: sees sales of $20-$20.5 million, vs. prior guidance of $21.5-$22.5 million and compared to the Street estimate of $22.20 million. The stock was downgraded at Cowen and ThinkEquity.
SinoHub (Nasdaq: SIHI) 16.4% LOWER; the stock is continuing lower after breaking below the $2 support level. 745,000 shares have already traded today, vs. the normal average daily volume of 226,000.
Cubist Pharmaceuticals (Nasdaq: CBST) 15.9% HIGHER; settles CUBICIN patent litigation with Teva (Nasdaq: TEVA). The stock was upgraded at Wedbush and Lazard earlier.
Allied Irish Banks (NYSE: AIB) 15.3% HIGHER; the stock has bounced (including today's rise) 72% since the Irish government announced the results of its bank stress tests and concluded that AIB will need to raise an additional €13.3 billion.
Dynatronics (Nasdaq: DYNT) 13.1% HIGHER; shares have bounced sharply since cracking the $1 level last week. The stock is up 74% since Tuesday of last week.
Intersil (Nasdaq: ISIL) 12.8% HIGHER; likely trading higher on the back of the TI, National Semi deal.
Sino Clean Energy (Nasdaq: SCEI) 11.9% HIGHER; traders are buying the dip today following a more than 25% move lower yesterday and on Friday. The company filed its 2010 10-K and audited financial statements this morning.
Ascent Solar (Nasdaq: ASTI) 10.9% HIGHER; finally bouncing today following a 25% decline on Friday and another 23% decline yesterday. The company announced Thursday night that its CEO would be stepping down.
China Education Alliance (NYSE: CEU) 10.7% LOWER; shares are down almost 37% since Wednesday of last week. Volume remains heavy.
Diamond Foods, Inc. (NASDAQ: DMND) 10.6% HIGHER; Diamond Foods and The Procter & Gamble Company (NYSE: PG) today announced the signing of a definitive agreement to merge the Pringles business into Diamond Foods in a transaction valued at $2.35 billion.
Fushi Copperweld (Nasdaq: FSIN) 10.5% HIGHER; reported Q4 adjusted EPS of $0.35, $0.01 better than the analyst estimate of $0.34. Revenue for the quarter came in at $69.9 million versus the consensus estimate of $68.89 million.
Wright Medical Group (Nasdaq: WMGI) 9.6% LOWER; names David Stevens as interim CEO, effective immediately. Stevens replaces Gary Henley, who resigned as President and CEO and as a director of the Company on April 4, 2011. The Company also announced today that the Board has terminated Frank Bono, the Company’s Senior Vice President and Chief Technology Officer, for cause for failing to exhibit appropriate regard for the Company’s ongoing compliance program.
To get this movers report daily, visit http://www.streetinsider.com/entities/Morning+Movers.
Novogen (Nasdaq: NVGN) 44.3% HIGHER; traders are buying today following an extremely volatile trading session over the last week. After surging more than 100% on Monday of last week (on no news), the stock sold-off by about 47%. 1.45 million shares have already traded hands, vs. the normal average daily volume of just 241,000 shares.
Inspire Pharmaceuticals, Inc. (Nasdaq: ISPH) 25.1% HIGHER; Merck (NYSE: MRK) and Inspire have entered into a definitive agreement whereby Merck will acquire Inspire for $5.00 per share in cash, or total consideration of $430 million.
Duoyuan Global Water (NYSE: DGW) 24.6% LOWER; announces that its CFO Stephen Park has announced his intention to leave the company in order to pursue another interest.
Questcor Pharmaceuticals, Inc. (Nasdaq: QCOR) 22.2% HIGHER; reports the following operating metrics for Q1. Sales were $48.6 million in the quarter, surpassing consensus views calling for revs of $33.60 million. Click here to see full details of the preliminary results.
SemiLEDs Corporation (NASDAQ: LEDS) 17.1% LOWER; reported Q2 loss of $0.03, versus the analyst estimate of $0.08. Revenue for the quarter came in at $10 million versus the consensus estimate of $11.22 million. SemiLEDs Corporation sees Q311 GAAP loss of ($0.10) - ($0.07), which may not compare to the consensus of $0.14. Also sees Q311 revenue of $6-$7 million, versus the consensus of $13.88 million.
Meru Networks (Nasdaq: MERU) 16.9% LOWER; offers preliminary Q1 results: sees sales of $20-$20.5 million, vs. prior guidance of $21.5-$22.5 million and compared to the Street estimate of $22.20 million. The stock was downgraded at Cowen and ThinkEquity.
SinoHub (Nasdaq: SIHI) 16.4% LOWER; the stock is continuing lower after breaking below the $2 support level. 745,000 shares have already traded today, vs. the normal average daily volume of 226,000.
Cubist Pharmaceuticals (Nasdaq: CBST) 15.9% HIGHER; settles CUBICIN patent litigation with Teva (Nasdaq: TEVA). The stock was upgraded at Wedbush and Lazard earlier.
Allied Irish Banks (NYSE: AIB) 15.3% HIGHER; the stock has bounced (including today's rise) 72% since the Irish government announced the results of its bank stress tests and concluded that AIB will need to raise an additional €13.3 billion.
Dynatronics (Nasdaq: DYNT) 13.1% HIGHER; shares have bounced sharply since cracking the $1 level last week. The stock is up 74% since Tuesday of last week.
Intersil (Nasdaq: ISIL) 12.8% HIGHER; likely trading higher on the back of the TI, National Semi deal.
Sino Clean Energy (Nasdaq: SCEI) 11.9% HIGHER; traders are buying the dip today following a more than 25% move lower yesterday and on Friday. The company filed its 2010 10-K and audited financial statements this morning.
Ascent Solar (Nasdaq: ASTI) 10.9% HIGHER; finally bouncing today following a 25% decline on Friday and another 23% decline yesterday. The company announced Thursday night that its CEO would be stepping down.
China Education Alliance (NYSE: CEU) 10.7% LOWER; shares are down almost 37% since Wednesday of last week. Volume remains heavy.
Diamond Foods, Inc. (NASDAQ: DMND) 10.6% HIGHER; Diamond Foods and The Procter & Gamble Company (NYSE: PG) today announced the signing of a definitive agreement to merge the Pringles business into Diamond Foods in a transaction valued at $2.35 billion.
Fushi Copperweld (Nasdaq: FSIN) 10.5% HIGHER; reported Q4 adjusted EPS of $0.35, $0.01 better than the analyst estimate of $0.34. Revenue for the quarter came in at $69.9 million versus the consensus estimate of $68.89 million.
Wright Medical Group (Nasdaq: WMGI) 9.6% LOWER; names David Stevens as interim CEO, effective immediately. Stevens replaces Gary Henley, who resigned as President and CEO and as a director of the Company on April 4, 2011. The Company also announced today that the Board has terminated Frank Bono, the Company’s Senior Vice President and Chief Technology Officer, for cause for failing to exhibit appropriate regard for the Company’s ongoing compliance program.
To get this movers report daily, visit http://www.streetinsider.com/entities/Morning+Movers.
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