Morning Movers 09/21: ZOOM, VVUS, AAWW, TNAV, ATBC Higher; GXDX, CBZ Lower
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Zoom Technologies, Inc. (Nasdaq: ZOOM) 28.1% HIGHER; announces an increase in orders from Beijing Tianyu. Tianyu is expected to increase its orders by 500,000 units per month, or 1.5 million per quarter. This represents a 68.2% increase from the typical 2,200,000 in orders per quarter that ZOOM receives from Beijing Tianyu.
VIVUS, Inc. (Nasdaq: VVUS) 12.9% HIGHER; announces results of QNEXA SEQUEL study. Patients in the study taking the top dose of QNEXA achieved and maintained average weight loss through two years of 11.4% of their initial body weight, or 26 pounds. The study was conducted over 108 weeks, in patients with an average baseline BMI of 36.1. The patients also had two or more weight related co-morbidities.
Atlas Air Worldwide Holdings, Inc. (Nasdaq: AAWW) 11.1% HIGHER; announces that they expect FY10 EPS to be greater than $5.30, compared to their prior estimate of $4.35. The outlook excludes a $0.33 expense related to one-time legal settlements. Consensus sees an EPS of $4.56. The company cites an increase in air shipments of "new, high-tech products, as well as just-in-time inventory management practices" for the increased outlook.
Genoptix (Nasdaq: GXDX) 11% LOWER; sees Q310 case volumes are expected to be 5% - 10% lower than for Q210. Revenues are also expected to be 5% - 10% lower than the $50.9 million realized in Q210. GXDX notes economics driving the change in patient profiles and increasing competitive activity which is leading to market saturation. Click here to see the full report.
CBIZ, Inc. (NYSE: CBZ) 9.7% LOWER; today announced its intention to offer $100 million in aggregate principal amount of Convertible Senior Subordinated Notes due 2015. The Notes are being offered only to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended. The Company also intends to grant the initial purchasers an option to purchase up to an additional $15 million in aggregate principal amount of the Notes to cover over-allotments, if any.
Telenav (Nasdaq: TNAV) 8.5% HIGHER; reports amendments to the Sprint (NYSE: S)-Tele Atlas deals. The term of the amendment pact, among other changes, has been extended to December 31, 2012. Telenav will get a guaranteed annual fixed fee from Sprint. Sees Q1 adj-EPS of about 23c on sales of $50 million, sees FY11 adj-EPS of 55-60c on sales of $180-$185 million.
Atlantic Bancgroup (Nasdaq: ATBC) 8% HIGHER; Jacksonville Bancorp (Nasdaq: JAXB) and Atlantic announce revised terms to their proposed merger agreement. The purchase price is being cut from $10/share to $9/share. Atlantic shareholders will now get 0.2 share for each Jacksonville share.
To get this report daily visit http://www.streetinsider.com/entities/Morning+Movers.
VIVUS, Inc. (Nasdaq: VVUS) 12.9% HIGHER; announces results of QNEXA SEQUEL study. Patients in the study taking the top dose of QNEXA achieved and maintained average weight loss through two years of 11.4% of their initial body weight, or 26 pounds. The study was conducted over 108 weeks, in patients with an average baseline BMI of 36.1. The patients also had two or more weight related co-morbidities.
Atlas Air Worldwide Holdings, Inc. (Nasdaq: AAWW) 11.1% HIGHER; announces that they expect FY10 EPS to be greater than $5.30, compared to their prior estimate of $4.35. The outlook excludes a $0.33 expense related to one-time legal settlements. Consensus sees an EPS of $4.56. The company cites an increase in air shipments of "new, high-tech products, as well as just-in-time inventory management practices" for the increased outlook.
Genoptix (Nasdaq: GXDX) 11% LOWER; sees Q310 case volumes are expected to be 5% - 10% lower than for Q210. Revenues are also expected to be 5% - 10% lower than the $50.9 million realized in Q210. GXDX notes economics driving the change in patient profiles and increasing competitive activity which is leading to market saturation. Click here to see the full report.
CBIZ, Inc. (NYSE: CBZ) 9.7% LOWER; today announced its intention to offer $100 million in aggregate principal amount of Convertible Senior Subordinated Notes due 2015. The Notes are being offered only to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended. The Company also intends to grant the initial purchasers an option to purchase up to an additional $15 million in aggregate principal amount of the Notes to cover over-allotments, if any.
Telenav (Nasdaq: TNAV) 8.5% HIGHER; reports amendments to the Sprint (NYSE: S)-Tele Atlas deals. The term of the amendment pact, among other changes, has been extended to December 31, 2012. Telenav will get a guaranteed annual fixed fee from Sprint. Sees Q1 adj-EPS of about 23c on sales of $50 million, sees FY11 adj-EPS of 55-60c on sales of $180-$185 million.
Atlantic Bancgroup (Nasdaq: ATBC) 8% HIGHER; Jacksonville Bancorp (Nasdaq: JAXB) and Atlantic announce revised terms to their proposed merger agreement. The purchase price is being cut from $10/share to $9/share. Atlantic shareholders will now get 0.2 share for each Jacksonville share.
To get this report daily visit http://www.streetinsider.com/entities/Morning+Movers.
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