Morning Movers 06/17: (GNMK) (NCT) (GENE) Higher; (RIMM) (CBLI) (QIHU) (LPS) Lower
Tweet
Share
E-mail
Get Alerts GNMK Hot Sheet
Join SI Premium – FREE
Genmark (Nasdaq: GNMK) 29.9% HIGHER; prices its offering of 7.1 million shares at $4.25 per share.
Newcastle Investment Corp. (NYSE: NCT) 29% HIGHER; announced today that as of June 16, 2011, the Company had $62 million of unrestricted cash, and it expects to receive an additional $30 million in the next two weeks. NCT also had $250 million of restricted cash available for reinvestment within its consolidated CDOs, and it expects to close on $144 million of new investments in the next 30 days.
Research In Motion (NASDAQ: RIMM) 20.7% LOWER; reported Q1 EPS of $1.33, $0.01 better than the analyst estimate of $1.32. Revenue for the quarter came in at $4.9 billion versus the consensus estimate of $5.15 billion. Authorizes 5% buyback. Sees Q2 sales $4.2-$4.8 billion, vs. consensus of $5.46 billion. Lowers FY12 EPS guidance to $5.25-$6.00, vs. the consensus of $6.29. The stock has been downgraded at Evercore, Scotia Capital, Caris, JPMorgan and Citi.
Genetic Technologies (Nasdaq: GENE) 19% HIGHER; appears to be rebounding over the $5 level today.
Zoran (Nasdaq: ZRAN) 16.4% HIGHER; CSR has revised an offer for the company: holders will now receive $6.26 in cash and 0.589 CSR stock in ADRs. The deal is being valued at $484 million.
Cleveland BioLabs, Inc. (Nasdaq: CBLI) 15.3% LOWER; has entered into definitive purchase agreements with investors pursuant to which the Company agreed to sell an aggregate of approximately 5.873 million shares of its common stock and warrants exercisable for up to approximately 2.936 million additional shares of its common stock.
Primo Water Corporation (Nasdaq: PRMW) 15.2% HIGHER; today announced the pricing of an underwritten public offering of 6,000,000 shares of common stock, consisting of 3,421,369 shares to be sold by Primo Water and 2,578,631 shares to be sold by certain selling stockholders, at a price to the public of $11.26 per share.
Qihoo 360 (Nasdaq: QIHU) 11.7% LOWER; stock continuing lower amid turmoil surrounding recent Chinese Internet IPOs. Shares of Yuhe (Nasdaq: YUII) were halted for info this morning following a 39 percent plunge amid fraud rumors.
Lender Processing Services, Inc. (NYSE: LPS) 11.3% LOWER; now sees Q211 EPS of $0.54 - $0.56, versus consensus of $0.80. Prior outlook was for $0.79 - $0.82.
Mitcham Industries, Inc. (Nasdaq: MIND) 9.3% LOWER; has priced a 2 million common offering at $14.50 per share, for gross proceeds of $29 million.
Harbin Electric (Nasdaq: HRBN) 9% HIGHER; rebounding today following a 51 percent slide yesterday amid a negative Citron Research report. The company responded to the report this morning: "Mr. Yang Tianfu's brother, Mr. Yang Tianli is not, and has never been, a member of the Board of Directors of Harbin Electric. There has never been a Civil Settlement. The case was settled privately approximately 10 years after the alleged facts with no admission of guilt by Mr. Yang Tianfu or Mr. Yang Tianli. The sole involvement of Mr. Yang Tianfu, in the referenced settlement agreement was to provide financial assistance to his brother, Yang Tianli, to settle a dispute to which neither Mr. Yang Tianfu himself nor Harbin Electric was a party."
China Sunergy Co. (Nasdaq: CSUN) 7.7% LOWER; today announced updates to its guidance for the second quarter of 2011 and full year 2011. China Sunergy expects its solar module shipments in the second quarter to be between 100 and 110 MW, compared to the Company's previous guidance of between 120MW and 130MW. For the full year 2011, CSUN now expects its solar module shipments to be between 580MW and 600MW, compared to the Company's previous guidance of between 670MW and 690MW.
To get this movers report daily, visit http://www.streetinsider.com/entities/Morning+Movers.
Newcastle Investment Corp. (NYSE: NCT) 29% HIGHER; announced today that as of June 16, 2011, the Company had $62 million of unrestricted cash, and it expects to receive an additional $30 million in the next two weeks. NCT also had $250 million of restricted cash available for reinvestment within its consolidated CDOs, and it expects to close on $144 million of new investments in the next 30 days.
Research In Motion (NASDAQ: RIMM) 20.7% LOWER; reported Q1 EPS of $1.33, $0.01 better than the analyst estimate of $1.32. Revenue for the quarter came in at $4.9 billion versus the consensus estimate of $5.15 billion. Authorizes 5% buyback. Sees Q2 sales $4.2-$4.8 billion, vs. consensus of $5.46 billion. Lowers FY12 EPS guidance to $5.25-$6.00, vs. the consensus of $6.29. The stock has been downgraded at Evercore, Scotia Capital, Caris, JPMorgan and Citi.
Genetic Technologies (Nasdaq: GENE) 19% HIGHER; appears to be rebounding over the $5 level today.
Zoran (Nasdaq: ZRAN) 16.4% HIGHER; CSR has revised an offer for the company: holders will now receive $6.26 in cash and 0.589 CSR stock in ADRs. The deal is being valued at $484 million.
Cleveland BioLabs, Inc. (Nasdaq: CBLI) 15.3% LOWER; has entered into definitive purchase agreements with investors pursuant to which the Company agreed to sell an aggregate of approximately 5.873 million shares of its common stock and warrants exercisable for up to approximately 2.936 million additional shares of its common stock.
Primo Water Corporation (Nasdaq: PRMW) 15.2% HIGHER; today announced the pricing of an underwritten public offering of 6,000,000 shares of common stock, consisting of 3,421,369 shares to be sold by Primo Water and 2,578,631 shares to be sold by certain selling stockholders, at a price to the public of $11.26 per share.
Qihoo 360 (Nasdaq: QIHU) 11.7% LOWER; stock continuing lower amid turmoil surrounding recent Chinese Internet IPOs. Shares of Yuhe (Nasdaq: YUII) were halted for info this morning following a 39 percent plunge amid fraud rumors.
Lender Processing Services, Inc. (NYSE: LPS) 11.3% LOWER; now sees Q211 EPS of $0.54 - $0.56, versus consensus of $0.80. Prior outlook was for $0.79 - $0.82.
Mitcham Industries, Inc. (Nasdaq: MIND) 9.3% LOWER; has priced a 2 million common offering at $14.50 per share, for gross proceeds of $29 million.
Harbin Electric (Nasdaq: HRBN) 9% HIGHER; rebounding today following a 51 percent slide yesterday amid a negative Citron Research report. The company responded to the report this morning: "Mr. Yang Tianfu's brother, Mr. Yang Tianli is not, and has never been, a member of the Board of Directors of Harbin Electric. There has never been a Civil Settlement. The case was settled privately approximately 10 years after the alleged facts with no admission of guilt by Mr. Yang Tianfu or Mr. Yang Tianli. The sole involvement of Mr. Yang Tianfu, in the referenced settlement agreement was to provide financial assistance to his brother, Yang Tianli, to settle a dispute to which neither Mr. Yang Tianfu himself nor Harbin Electric was a party."
China Sunergy Co. (Nasdaq: CSUN) 7.7% LOWER; today announced updates to its guidance for the second quarter of 2011 and full year 2011. China Sunergy expects its solar module shipments in the second quarter to be between 100 and 110 MW, compared to the Company's previous guidance of between 120MW and 130MW. For the full year 2011, CSUN now expects its solar module shipments to be between 580MW and 600MW, compared to the Company's previous guidance of between 670MW and 690MW.
To get this movers report daily, visit http://www.streetinsider.com/entities/Morning+Movers.
You May Also Be Interested In
- Citi Upgrades Sirius XM Radio (SIRI) to Neutral, 'risk-reward is balanced at prevailing levels'
- Midday movers: Morgan Stanley, UnitedHealth rise; Tesla falls
- After-hours movers: Cadence Design Systems, Cleveland-Cliffs, Riot Platforms, and more
Create E-mail Alert Related Categories
Special ReportsRelated Entities
JPMorgan, Citi, Citron Research, Morning MoversSign 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!
