Morning Movers 09/07: QTWW, ALTI, EPE, HILL, KOPN Higher; IDIX, SPEX, CSKI, DSTI, REDF Lower
Up)
Idenix Pharmaceuticals, Inc. (Nasdaq: IDIX) 45.6% LOWER; receives notice from the U.S. FDA that a clinical hold has been placed on IDX184 and IDX320 programs. A clinical hold is an order issued by the FDA to the sponsor to delay a proposed clinical investigation or to suspend an ongoing investigation.
Spherix (Nasdaq: SPEX) 32% LOWER; looks like technicians are getting active on the stock today as shares gapped below the always-important 200-day smooth moving average. Volume is extremely heavy: already 350,000 shares have traded, which compares to the average daily volume of just 57,000.
China Sky One Medical, Inc. (Nasdaq: CSKI) 27.6% LOWER; Friday after the close, lowered its FY10 revenue guidance from a prior range of $160-$164 million to between $128 million and $136 million. (Consensus is $160.81M) Also lowered its 2010 adjusted net income guidance, excluding the impact of derivative warrant liabilities, from between $40 million and $41 million to between $26 million and $31 million. Also, the Company announced the resignation of its CFO, Mr. Stanley Hao, due to health considerations, effective September 01, 2010. Furthermore, analysts at Global Hunter, one of only several firms that cover the stock, discountinued coverage on the stock late last week.
Quantum Fuel Systems Technologies Worldwide, Inc. (Nasdaq: QTWW) 21.6% HIGHER; receives $30 million purchase order for supplying key components and subsystems related to Quantum's proprietary Q-Drive powertrain systems for the Fisker Karma production program under the terms of its supply agreement.
Altair Nanotech (Nasdaq: ALTI) 21.6% HIGHER; continuing to surge this week as it appears technicians are holding the stock above its 200-day SMA. Shares rallied more than 43% last week amid very heavy volume. Volume is already heavier today than it was during any single full trading day last week.
Enterprise GP Holdings L.P. (NYSE: EPE) 12.6% HIGHER; Enterprise Products Partners L.P. (NYSE: EPD) and Enterprise GP Holdings this morning announced a definitive agreement that will result in the merger of Enterprise GP Holdings with a wholly owned subsidiary of Enterprise Product Partners through a unit-for-unit exchange. Click here to see the full report.
Dot Hill Systems (Nasdaq: HILL) 10.9% HIGHER; since testing the $1 level earlier this month, shares of HILL have bounced about 34% including today's move higher. 18% of this move came on Friday of last week.
Kopin (Nasdaq: KOPN) 10.7% HIGHER; likely benefiting from a positive article in this weekend's edition of Barron's. The publication argued that Kopin could be a beneficiary to increased demand for mobile devices.
DayStar Tech (Nasdaq: DSTI) 10.3% LOWER; following several weeks of sharp downside, shares bounced by about 35% on Friday, however, traders are taking profits this week. Volume is above the 30-day average, but down notably from Friday's session.
Rediff.com (Nasdaq: REDF) 10.2% LOWER; after rising by more than 40% over last week's trading sessions, shares are correcting slightly today.
GT Solar International, Inc. (Nasdaq: SOLR) 8.7% LOWER; announced a secondary offering of 10,000,000 shares of its common stock by one selling stockholder, GT Solar Holdings, LLC, pursuant to a shelf registration statement filed with the Securities and Exchange Commission. The selling stockholder has also granted the underwriters an option to purchase a maximum of 1,500,000 additional shares of common stock to cover over-allotments, if any. Concurrently with this offering, the selling stockholder has entered into agreements to sell up to 15,000,000 additional shares of the Company’s common stock to UBS Securities LLC and one of its affiliates in connection with an offering by UBS AG of its Mandatorily Exchangeable Notes due 2013.
Great Basin Gold (Amex: GBG) 8.3% HIGHER; RBC Capital upgrades the stock from Outperform to Top Pick.
To get this report daily visit http://www.streetinsider.com/entities/Morning+Movers.
Spherix (Nasdaq: SPEX) 32% LOWER; looks like technicians are getting active on the stock today as shares gapped below the always-important 200-day smooth moving average. Volume is extremely heavy: already 350,000 shares have traded, which compares to the average daily volume of just 57,000.
China Sky One Medical, Inc. (Nasdaq: CSKI) 27.6% LOWER; Friday after the close, lowered its FY10 revenue guidance from a prior range of $160-$164 million to between $128 million and $136 million. (Consensus is $160.81M) Also lowered its 2010 adjusted net income guidance, excluding the impact of derivative warrant liabilities, from between $40 million and $41 million to between $26 million and $31 million. Also, the Company announced the resignation of its CFO, Mr. Stanley Hao, due to health considerations, effective September 01, 2010. Furthermore, analysts at Global Hunter, one of only several firms that cover the stock, discountinued coverage on the stock late last week.
Quantum Fuel Systems Technologies Worldwide, Inc. (Nasdaq: QTWW) 21.6% HIGHER; receives $30 million purchase order for supplying key components and subsystems related to Quantum's proprietary Q-Drive powertrain systems for the Fisker Karma production program under the terms of its supply agreement.
Altair Nanotech (Nasdaq: ALTI) 21.6% HIGHER; continuing to surge this week as it appears technicians are holding the stock above its 200-day SMA. Shares rallied more than 43% last week amid very heavy volume. Volume is already heavier today than it was during any single full trading day last week.
Enterprise GP Holdings L.P. (NYSE: EPE) 12.6% HIGHER; Enterprise Products Partners L.P. (NYSE: EPD) and Enterprise GP Holdings this morning announced a definitive agreement that will result in the merger of Enterprise GP Holdings with a wholly owned subsidiary of Enterprise Product Partners through a unit-for-unit exchange. Click here to see the full report.
Dot Hill Systems (Nasdaq: HILL) 10.9% HIGHER; since testing the $1 level earlier this month, shares of HILL have bounced about 34% including today's move higher. 18% of this move came on Friday of last week.
Kopin (Nasdaq: KOPN) 10.7% HIGHER; likely benefiting from a positive article in this weekend's edition of Barron's. The publication argued that Kopin could be a beneficiary to increased demand for mobile devices.
DayStar Tech (Nasdaq: DSTI) 10.3% LOWER; following several weeks of sharp downside, shares bounced by about 35% on Friday, however, traders are taking profits this week. Volume is above the 30-day average, but down notably from Friday's session.
Rediff.com (Nasdaq: REDF) 10.2% LOWER; after rising by more than 40% over last week's trading sessions, shares are correcting slightly today.
GT Solar International, Inc. (Nasdaq: SOLR) 8.7% LOWER; announced a secondary offering of 10,000,000 shares of its common stock by one selling stockholder, GT Solar Holdings, LLC, pursuant to a shelf registration statement filed with the Securities and Exchange Commission. The selling stockholder has also granted the underwriters an option to purchase a maximum of 1,500,000 additional shares of common stock to cover over-allotments, if any. Concurrently with this offering, the selling stockholder has entered into agreements to sell up to 15,000,000 additional shares of the Company’s common stock to UBS Securities LLC and one of its affiliates in connection with an offering by UBS AG of its Mandatorily Exchangeable Notes due 2013.
Great Basin Gold (Amex: GBG) 8.3% HIGHER; RBC Capital upgrades the stock from Outperform to Top Pick.
To get this report daily visit http://www.streetinsider.com/entities/Morning+Movers.
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