Morning Movers 07/19: (PSDV) (MLNX) (EDU) (SCSS) Higher; (IRG) (ANTH) (WHX) (DCIX) Lower

July 19, 2012 10:50 AM EDT Send to a Friend
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pSivida Corp. (NASDAQ: PSDV) 40.7% HIGHER; announced the FDA has cleared its Investigational New Drug application to treat posterior uveitis with pSivida’s injectable sustained-release micro-insert. pSivida is now permitted to move directly to two Phase III trials to treat patients with posterior uveitis. Click here to see the full report.

Mellanox Technologies, Ltd. (NASDAQ:
MLNX) 38.3% HIGHER; reported Q2 EPS of $0.99, $0.25 better than the analyst estimate of $0.74. Revenue for the quarter came in at $133.5 million versus the consensus estimate of $128.34 million.

New Oriental Education and Technology Group Inc. (NYSE: EDU) 30% HIGHER; responded to the allegations raised in a report dated July 18, 2012 issued by Muddy Waters. New Oriental believes that the Muddy Waters report contains numerous errors of facts, misleading speculations and malicious interpretations of events.

Select Comfort Corp (NASDAQ: SCSS) 27.5% HIGHER; reported Q2 EPS of $0.30, $0.03 better than the analyst estimate of $0.27. Revenue for the quarter came in at $205.22 million versus the consensus estimate of $198.27 million. Raised its FY12 EPS guidance from $1.38-$1.46 to $1.41-$1.47, which compares to the Street estimate of $1.44.

Ignite Restaurant Group (Nasdaq: IRG) 21.3% LOWER; announces restatement and accounting review.

Anthera Pharmaceuticals, Inc. (Nasdaq: ANTH) 17.3% LOWER; priced 33 million common stock offering will sell for $1 per share.

OCZ Technology Group, Inc. (Nasdaq: OCZ) 17.1% HIGHER; are rocking higher early Thursday on reports from Fudzilla, Seagate Technology PLC (NYSE: STX) could be considering making a bid for the company.

Whiting USA Trust I (NYSE: WHX) 15.6% LOWER; continuing lower following a new Sell rating from Stifel Nicolaus yesterday. Click here to see the note.

Georgia Gulf Corporation (NYSE: GGC) 14.2% HIGHER; PPG Industries (NYSE: PPG) and Georgia Gulf announced that the boards of directors of both companies have approved definitive agreements under which PPG will separate its commodity chemicals business and then merge it with Georgia Gulf. The transaction value of approximately $2.1 billion consists of $900 million of cash to be paid to PPG, approximately $95 million of assumed debt, about $87 million of minority interest, and Georgia Gulf shares to be received by PPG shareholders valued at $1.0 billion

Diana Containerships Inc. (Nasdaq: DCIX) 14% LOWER; priced 8.1 million shares at $6.25 per share.

Netscout Systems, Inc. (NASDAQ: NTCT) 13.4% HIGHER; reported Q2 EPS of $0.19, $0.01 better than the analyst estimate of $0.18. Revenue for the quarter came in at $76.5 million versus the consensus estimate of $74.73 million.

TAL Education Group (NYSE: XRS) 13.4% LOWER; likely getting hit amid the concerns related to New Oriental. Shares plunged under the $8 level earlier.

Mitek Systems (Nasdaq: MITK) 12.7% LOWER; today filed a motion to amend its complaint to include the claims of defamation and violation of the Lanham Act for unfair business practices in its lawsuit against United Services Automobile Association (USAA) in the U.S. District Court for the District of Delaware.

Rovi (Nasdaq: ROVI) 12.5% HIGHER; bouncing today following a more than 40 percent plunge amid news of a streaming deal related to DivX with Panasonic SoC.

E-House (China) Holdings (NYSE: EJ) 12.4% HIGHER; traders are buying the dip following a 24 percent decline over the last eight trading sessions.

Bacterin (AMEX: BONE) 12% HIGHER; stock continuing higher following a 14 percent move higher yesterday after crossing both the 50-day and 200-day simple moving averages following a period of consolidation.

Walgreens (NYSE: WAG) 11% HIGHER; Express Scripts (NASDAQ: ESRX) and Walgreens today announced the companies have reached a multi-year pharmacy network agreement that includes rates and terms under which Walgreens will participate in the broadest Express Scripts retail pharmacy network available to new and existing clients. The companies are not disclosing the terms of the new contract.

ISIS Pharmaceuticals (NASDAQ: ISIS) 10.2% LOWER; Jefferies downgraded ISIS from Buy to Underperform with a price target of $10.00.

Columbus Mckinnon (NASDAQ: CMCO) 9.3% HIGHER; reported Q1 EPS of $0.43, $0.16 better than the analyst estimate of $0.27. Revenue for the quarter came in at $153 million versus the consensus estimate of $148.05 million.


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