Morning Movers 04/09: (AOL) (CALL) (WOLF) Higher; (MOH) (CKSW) (CNC) (PATK) Lower
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AOL (NYSE: AOL) 42.5% HIGHER; the company agreed to a $1.056 billion patent deal with Microsoft (Nasdaq: MSFT). Under the agreement, AOL will sell over 800 patents and the related applications to Microsoft and also grant Microsoft a non-exclusive license to its retained patent portfolio.
Molina Healthcare (NYSE: MOH) 24.7% LOWER; a state contract for some 1.5 million patients of Ohio's Medicaid program won't be renewed. The stock was also downgraded at Cantor Fitzgerald and Susquehanna.
magicJack (Nasdaq: CALL) 14.3% HIGHER; sees Q1 adj-EPS of about 26 cents on sales of about $37.4 million. The Street is currently expecting Q1 EPS of 13 cents on sales of $35.67 million.
ClickSoftware (Nasdaq: CKSW) 14% LOWER; announces preliminary Q1 sales of $21.6 million, which compares to the Street estimate of $23.4 million. The company cited "seasonal Q1 softness." Still sees FY12 sales of $100-$105 million, which compares to the Street estimate of $102.9 million.
Centene (NYSE: CNC) 13.2% LOWER; trading down amid news of Molina's contract loss. The stock was downgraded at Susquehanna.
Patrick Industries (Nasdaq: PATK) 13% LOWER; shares are continuing to pare gains following a test of the $13 level on Monday of last week. The stock has plunged below the $9 level following a break below $12 and $11 to finish last week's session.
Great Wolf Resorts, Inc. (Nasdaq: WOLF) 12.3% HIGHER; has received an unsolicited letter from KSL Capital Partners proposing to acquire Great Wolf for $7.00 per share in cash, subject to certain conditions, including due diligence and certain conditions related to debt waivers. Apollo (NYSE: APO) recently increased its offer to $6.75 per share.
InterMune Inc. (NASDAQ: ITMN) 12% LOWER; RBC Capital's Michael Yee downgraded shares of InterMune from Outperform to Sector Perform Monday morning. Yee reduced his price target from $23 to $17.
Randgold Resources Ltd. (NASDAQ: GOLD) 10.8% HIGHER; Stifel Nicolaus upgraded the stock from Hold to Buy with a price target of $110.00.
Mitek Systems (NASDAQ: MITK) 9.7% LOWER; JMP Securities downgraded the stock from Outperform to Market Perform.
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Molina Healthcare (NYSE: MOH) 24.7% LOWER; a state contract for some 1.5 million patients of Ohio's Medicaid program won't be renewed. The stock was also downgraded at Cantor Fitzgerald and Susquehanna.
magicJack (Nasdaq: CALL) 14.3% HIGHER; sees Q1 adj-EPS of about 26 cents on sales of about $37.4 million. The Street is currently expecting Q1 EPS of 13 cents on sales of $35.67 million.
ClickSoftware (Nasdaq: CKSW) 14% LOWER; announces preliminary Q1 sales of $21.6 million, which compares to the Street estimate of $23.4 million. The company cited "seasonal Q1 softness." Still sees FY12 sales of $100-$105 million, which compares to the Street estimate of $102.9 million.
Centene (NYSE: CNC) 13.2% LOWER; trading down amid news of Molina's contract loss. The stock was downgraded at Susquehanna.
Patrick Industries (Nasdaq: PATK) 13% LOWER; shares are continuing to pare gains following a test of the $13 level on Monday of last week. The stock has plunged below the $9 level following a break below $12 and $11 to finish last week's session.
Great Wolf Resorts, Inc. (Nasdaq: WOLF) 12.3% HIGHER; has received an unsolicited letter from KSL Capital Partners proposing to acquire Great Wolf for $7.00 per share in cash, subject to certain conditions, including due diligence and certain conditions related to debt waivers. Apollo (NYSE: APO) recently increased its offer to $6.75 per share.
InterMune Inc. (NASDAQ: ITMN) 12% LOWER; RBC Capital's Michael Yee downgraded shares of InterMune from Outperform to Sector Perform Monday morning. Yee reduced his price target from $23 to $17.
Randgold Resources Ltd. (NASDAQ: GOLD) 10.8% HIGHER; Stifel Nicolaus upgraded the stock from Hold to Buy with a price target of $110.00.
Mitek Systems (NASDAQ: MITK) 9.7% LOWER; JMP Securities downgraded the stock from Outperform to Market Perform.
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Stifel Nicolaus, Cantor Fitzgerald, RBC Capital, JMP Securities, Susquehanna International Group of Companies, Morning Movers
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