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

June 1, 2012 11:23 AM EDT
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.

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