Morning Movers 06/11: (NOIZ) (ZAZA) (INMD) Higher; (ES) (CNC) (PCX) Lower

June 11, 2012 10:30 AM EDT
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Micronetics, Inc. (Nasdaq: NOIZ) 94.4% HIGHER; Mercury Computer Systems, Inc. (Nasdaq: MRCY) has signed a definitive agreement to acquire the company. Pursuant to the terms of the agreement, Mercury will acquire Micronetics via merger for $14.80 per share.

EnergySolutions, Inc., (NYSE: ES) 53.1% LOWER; announced it was revising its 2012 Adjusted EBITDA guidance to $130 to $140 million, down from the guidance of $150 to $160 million provided with its first quarter financial results on May 9, 2012.

Centene Corporation (NYSE: CNC) 26.1% LOWER; is revising its 2012 guidance to $1.45 to $1.65 per diluted share, from the previously announced range of $2.64 to $2.84 per diluted share. The Street is looking for EPS of 2.68. The revised guidance range reflects negative financial results in May for our Kentucky Health Plan and the Hidalgo service area in our Texas Health Plan, as well as in the Celtic individual health business.

ZaZa Energy Corporation (NASDAQ: ZAZA) 24.3% HIGHER; today announced that it has simultaneously (i) signed a Heads of Agreement with Hess Corporation to effect a transaction that will lead to the termination or modification of the Parties’ 2010 agreements in Texas and France, (ii) amended the existing exploration and development agreement with Hess in Texas for which ZaZa has been paid an immediate cash consideration of $15 million; (iii) agreed to pay down its $100 million senior secured notes due 2017 by $33 million, and (iv) engaged Jefferies & Company, Inc. to lead a joint venture process for ZaZa’s Eagle Ford core and Woodbine/Eaglebine assets.

IntegraMed America, Inc. (Nasdaq: INMD) 20.6% HIGHER; has entered into a definitive agreement to be acquired by affiliates formed by Sagard Capital Partners, L.P., an investment fund and IntegraMed shareholder, for $14.05 per share in cash, or a total equity purchase price of $169.5 million.

Ampio Pharmaceuticals, Inc. (Nasdaq: AMPE) 17.8% HIGHER; reports that it's CRO has completed analysis of the primary end point in the Optina clinical trial for DME conducted at St Michael Diabetes Hospital in Toronto Canada. Click here for the full story.

Patriot Coal (NYSE: PCX) 11.3% LOWER; continuing to correct following very sharp downside over the last month. Shares are down nearly 70 percent. The stock is flirting with the $1.50 level today.

AK Steel (NYSE: AKS) 10% LOWER; Goldman Sachs downgraded AK Steel from Neutral to Sell with a price target of $5.00 (from $6.00), suggesting 17% downside. Click here to see the full report.

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