Morning Movers 06/01: (BFED) (PIP) (MVIS) Higher; (QUIK) (SYNC) (NOR) (OVTI) Lower

June 1, 2012 11:23 AM EDT Send to a Friend
Beacon Federal Bancorp, Inc. (NASDAQ: BFED) 46% HIGHER; Berkshire Hills Bancorp, Inc. (NASDAQ: BHLB) and Beacon announced today that they have signed a definitive merger agreement under which Berkshire will acquire Beacon in a transaction valued at approximately $132 million. Under the agreement, Beacon's subsidiary bank, Beacon Federal, will be merged into Berkshire Bank, America's Most Exciting Bank(SM).

PharmAthene, Inc. (Amex: PIP) 35.1% HIGHER; announced that the Delaware Court of Chancery has issued its final judgment in the Company's litigation against SIGA Technologies (Nasdaq: SIGA). Upholding its September 22, 2011 ruling, the Court awarded PharmAthene 50% of the net profits over a period of ten years from all sales of SIGA's smallpox antiviral therapeutic, ST-246, and related products, after SIGA receives the first $40 million in net profits.

Microvision (Nasdaq: MVIS) 25.7% HIGHER; continuing higher following a 38 percent jump yesterday amid news of a $4 million order from Pioneer. The stock more than doubled on Tuesday as rumors hit the stock.

QuickLogic Corporation (Nasdaq: QUIK) 22.8% LOWER; announced the pricing of its underwritten public offering of an aggregate of 4,500,000 newly issued shares of common stock, $0.001 par value, together with warrants to purchase up to 2,025,000 shares of common stock.

Synacor (Nasdaq: SYNC) 15.4% LOWER; the stock was started at Underweight by Albert Fried late yesterday, then was downgraded at BofA, Citi and Stifel Nicolaus this morning.

Noranda Aluminum (NYSE: NOR) 15.1% LOWER; aluminum stocks are moving lower this morning. Shares of Noranda plummeted below the $7.50 level after the 50- and 200-day SMA's converged. Volume is the stock has soared since technicians jumped into the stock.

Omnivision Technologies, Inc. (NASDAQ: OVTI) 12.6% LOWER; reported Q4 EPS of $0.20, $0.02 worse than the analyst estimate of $0.22. Revenue for the quarter came in at $218.5 million versus the consensus estimate of $205.34 million. Sees Q1 2013 EPS of $0.16-$0.27, versus the consensus of $0.29. Sees Q1 2013 revenue of $235-$255 million, versus the consensus of $219.2 million.

Golden Star Resources (AMEX: GSS) 11.3% HIGHER; the entire gold & silver sector is bouncing today with the Dow down around 200 points following very concerning payroll figures.

Leap Wireless (Nasdaq: LEAP) 11.1% LOWER; the stock was downgraded to Underperform at BMO this morning.

Exeter Resources (AMEX: XRA) 11% HIGHER; rebounding with the entire gold & silver sector this morning. The stock is holding near the $2 level.

Golden Minerals (AMEX: AUMN) 10.1% HIGHER; the gold ETF (NYSE: GLD) is up 3.2 percent at last check, while the silver ETF (NYSE: SLV) is up 2.5 percent.

M/I Homes (NYSE: MHO) 9.8% LOWER; homebuilding stocks are getting absolutely rocked today following the very disappointing payroll report. The XHB ETF (NYSE: XHB) is down nearly 5 percent at last check.

Pulte Group (NYSE: PHM) 9.4% LOWER; see above.


Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In





Related Categories

Special Reports

Related Entities

Stifel Nicolaus, Citi, Bank of America, Morning Movers

Add Your Comment