Morning Movers 04/30: (BKS) (EDS) (IFT) (DMD) Higher; (PAY) (TSYS) (HUSA) Lower
Tweet Send to a Friend
Get Alerts BKS Hot Sheet
Up)
Trade BKS Now!
Barnes & Noble Inc. (NYSE: BKS) 63.6% HIGHER; B&N and Microsoft (NASDAQ: MSFT) today announced the formation of a strategic partnership in a new Barnes & Noble subsidiary, which will build upon the history of strong innovation in digital reading technologies from both companies. The partnership will accelerate the transition to e-reading, which is revolutionizing the way people consume, create, share and enjoy digital content. The new subsidiary, referred to in this release as Newco, will bring together the digital and College businesses of Barnes & Noble. Microsoft will make a $300 million investment in Newco at a post-money valuation of $1.7 billion in exchange for an approximately 17.6% equity stake. Barnes & Noble will own approximately 82.4% of the new subsidiary
Exceed Company Limited (NYSE: EDS) 44.2% HIGHER; reported 2011 operating profit of $79.2 million on sales of $522.5 million. One analyst was looking for Exceed to report $495.5 million in 2011 sales.
Imperial Holdings, Inc. (NYSE: IFT) 32.9% HIGHER; announced today that the Company and the U.S. Attorney’s Office for the District of New Hampshire have entered into a Non-Prosecution Agreement relating to the USAO’s investigation into the Company’s premium finance business. Under the terms of the NPA, the USAO has agreed not to prosecute Imperial for any crimes related to Imperial’s involvement in the making of misrepresentations on life insurance applications and has agreed not to prosecute Imperial for any potential securities fraud claims related to its premium finance business.
Demand Media, Inc. (NYSE: DMD) 27% HIGHER; shares are surging Monday following reports from AllThingsD over the weekend the company was in advanced talks with private equity firms to go private.
Books-A-Million, Inc. (Nasdaq: BAMM) 25.5% HIGHER; Clyde B. Anderson announced on April 28, 2012, that the Anderson family has made a non-binding proposal to acquire all of the outstanding publicly-held shares of the common stock of Books-A-Million. Mr. Anderson is the Executive Chairman of the Company and Mr. Anderson and other members of the Anderson family currently directly or indirectly control shares of stock representing, in the aggregate, approximately 53 percent of the common stock of the Company. According to the proposal, public shareholders would receive $3.05 per share in cash.
YRC Worldwide Inc. (Nasdaq: YRCW) 23% HIGHER; has reached an agreement with its lenders to reset certain financial covenants over the life of the loans and allow the company to retain all proceeds from the auction of certain surplus properties. The amendments were supported by 100 percent of its Term Credit Agreement lenders and 100 percent of its ABL Credit Agreement lenders.
Sunoco, Inc. (NYSE: SUN) 19.7% HIGHER; Energy Transfer Partners, L.P. (NYSE: ETP) announced an agreement to acquire Sunoco in a unit and cash transaction valued at $50.13 per share, or a total consideration of approximately $5.3 billion.
Gen-Probe Incorporated (NASDAQ: GPRO) 19% HIGHER; Hologic, Inc. to acquire Gen-Probe for $82.75 per share in cash, or a total enterprise value of approximately $3.7 billion.
Conceptus, Inc. (Nasdaq: CPTS) 17.9% HIGHER; today announced that it has reached an agreement with Hologic, Inc. (Nasdaq: HOLX) to settle the ongoing patent infringement litigation related to Hologic's Adiana Permanent Contraception System. The settlement agreement resolves all outstanding litigation between Conceptus and Hologic. Under the terms of the settlement agreement, Hologic has agreed to remove its Adiana system from the worldwide permanent birth control market by May 18, 2012. In addition, Conceptus has relieved Hologic of the $18.8 million payment for monetary damages awarded to Conceptus as part of the October 17, 2011 jury verdict.
TGC Industries, Inc. (NASDAQ: TGE) 14.8% HIGHER; reported Q1 EPS of $0.60, $0.24 better than the analyst estimate of $0.36. Revenue for the quarter came in at $67.05 million versus the consensus estimate of $57 million.
Tucows (NYSE: TCX) 13.4% HIGHER; breaking out above the $1.30 level this morning. Shares are now over $1.40 on heavy volume.
Entertainment Gaming Asia (AMEX: EGT) 12.8% HIGHER; continuing higher this week after breaking above the 200-day SMA Friday morning. The stock was up nearly 13 percent to finish last week's session.
VeriFone (NYSE: PAY) 10.2% LOWER; Deutsche Bank downgraded the stock from Hold to Sell, price target lowered from $44 to $40.
TeleCommunication Systems (NASDAQ: TSYS) 9.9% LOWER; RBC Capital downgraded the stock from Sector Perform to Underperform, price target cut from $3.50 to $2.00.
Houston American Energy (AMEX: HUSA) 9.9% LOWER; the stock is continuing a recent very volatile run. Traders are likely taking profits this week following a 10 percent rise on Wednesday of last week, a 35 percent surge on Thursday, and another 8 percent move higher on Friday.
Tenneco (NYSE: TEN) 9.4% LOWER; reported Q1 EPS of $0.66, $0.08 worse than the analyst estimate of $0.74. Revenue for the quarter came in at $1.91 billion versus the consensus estimate of $1.89 billion.
Hologic (Nasdaq: HOLX) 9.4% LOWER; moving lower following news of a bid for Gen-Probe.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
Exceed Company Limited (NYSE: EDS) 44.2% HIGHER; reported 2011 operating profit of $79.2 million on sales of $522.5 million. One analyst was looking for Exceed to report $495.5 million in 2011 sales.
Imperial Holdings, Inc. (NYSE: IFT) 32.9% HIGHER; announced today that the Company and the U.S. Attorney’s Office for the District of New Hampshire have entered into a Non-Prosecution Agreement relating to the USAO’s investigation into the Company’s premium finance business. Under the terms of the NPA, the USAO has agreed not to prosecute Imperial for any crimes related to Imperial’s involvement in the making of misrepresentations on life insurance applications and has agreed not to prosecute Imperial for any potential securities fraud claims related to its premium finance business.
Demand Media, Inc. (NYSE: DMD) 27% HIGHER; shares are surging Monday following reports from AllThingsD over the weekend the company was in advanced talks with private equity firms to go private.
Books-A-Million, Inc. (Nasdaq: BAMM) 25.5% HIGHER; Clyde B. Anderson announced on April 28, 2012, that the Anderson family has made a non-binding proposal to acquire all of the outstanding publicly-held shares of the common stock of Books-A-Million. Mr. Anderson is the Executive Chairman of the Company and Mr. Anderson and other members of the Anderson family currently directly or indirectly control shares of stock representing, in the aggregate, approximately 53 percent of the common stock of the Company. According to the proposal, public shareholders would receive $3.05 per share in cash.
YRC Worldwide Inc. (Nasdaq: YRCW) 23% HIGHER; has reached an agreement with its lenders to reset certain financial covenants over the life of the loans and allow the company to retain all proceeds from the auction of certain surplus properties. The amendments were supported by 100 percent of its Term Credit Agreement lenders and 100 percent of its ABL Credit Agreement lenders.
Sunoco, Inc. (NYSE: SUN) 19.7% HIGHER; Energy Transfer Partners, L.P. (NYSE: ETP) announced an agreement to acquire Sunoco in a unit and cash transaction valued at $50.13 per share, or a total consideration of approximately $5.3 billion.
Gen-Probe Incorporated (NASDAQ: GPRO) 19% HIGHER; Hologic, Inc. to acquire Gen-Probe for $82.75 per share in cash, or a total enterprise value of approximately $3.7 billion.
Conceptus, Inc. (Nasdaq: CPTS) 17.9% HIGHER; today announced that it has reached an agreement with Hologic, Inc. (Nasdaq: HOLX) to settle the ongoing patent infringement litigation related to Hologic's Adiana Permanent Contraception System. The settlement agreement resolves all outstanding litigation between Conceptus and Hologic. Under the terms of the settlement agreement, Hologic has agreed to remove its Adiana system from the worldwide permanent birth control market by May 18, 2012. In addition, Conceptus has relieved Hologic of the $18.8 million payment for monetary damages awarded to Conceptus as part of the October 17, 2011 jury verdict.
TGC Industries, Inc. (NASDAQ: TGE) 14.8% HIGHER; reported Q1 EPS of $0.60, $0.24 better than the analyst estimate of $0.36. Revenue for the quarter came in at $67.05 million versus the consensus estimate of $57 million.
Tucows (NYSE: TCX) 13.4% HIGHER; breaking out above the $1.30 level this morning. Shares are now over $1.40 on heavy volume.
Entertainment Gaming Asia (AMEX: EGT) 12.8% HIGHER; continuing higher this week after breaking above the 200-day SMA Friday morning. The stock was up nearly 13 percent to finish last week's session.
VeriFone (NYSE: PAY) 10.2% LOWER; Deutsche Bank downgraded the stock from Hold to Sell, price target lowered from $44 to $40.
TeleCommunication Systems (NASDAQ: TSYS) 9.9% LOWER; RBC Capital downgraded the stock from Sector Perform to Underperform, price target cut from $3.50 to $2.00.
Houston American Energy (AMEX: HUSA) 9.9% LOWER; the stock is continuing a recent very volatile run. Traders are likely taking profits this week following a 10 percent rise on Wednesday of last week, a 35 percent surge on Thursday, and another 8 percent move higher on Friday.
Tenneco (NYSE: TEN) 9.4% LOWER; reported Q1 EPS of $0.66, $0.08 worse than the analyst estimate of $0.74. Revenue for the quarter came in at $1.91 billion versus the consensus estimate of $1.89 billion.
Hologic (Nasdaq: HOLX) 9.4% LOWER; moving lower following news of a bid for Gen-Probe.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- Streetinsider.com's Hot Lunchtime Reads 05/22: (MNKD) (SNE) (P) (MSFT) (SPLS)
- Market Wrap: Yahoo, Tumblr Make it Official; New CEO at Chesapeake; SAC's Cohen Subpoenaed
- StreetInsider.com Pre-Open Movers 5/22: (ZLC) (SKS) (TOL) Higher; (UAN) (TGT) (SODA) Lower (more...)
Create E-mail Alert Related Categories
Special ReportsRelated Entities
Deutsche Bank, RBC Capital, Morning Movers
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
