Morning Movers 09/29: (HGIC) (IFT) (LPL) (THO) Higher; (YOKU) (FMCN) (AMD) (GLUU) Lower
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Harleysville (Nasdaq: HGIC) 85.3% HIGHER; to be acquired by Nationwide for $60/share.
Imperial Holdings (NYSE: IFT) 15.5% HIGHER; traders buying the dip today following a 65 percent plunge yesterday amid reports of an FBI raid on the company's Boca Raton offices.
Youku.com (Nasdaq: YOKU) 15% LOWER; US-listed Chinese stocks are getting absolutely smashed this morning as the DoJ is currently probing these companies related to the recent wave of Chinese accounting fraud.
LG Display (NYSE: LPL) 12.3% HIGHER; traders attributing upside to speculation from an analyst at Korea's Kiwoom Securities who believes recent downside in the stock is overdone.
Focus Media (Nasdaq: FMCN) 11.7% LOWER; see Youku.com
Thor Industries, Inc. (NYSE: THO) 11.3% HIGHER; reported Q4 EPS of $0.66, $0.05 better than the analyst estimate of $0.61. Revenue for the quarter came in at $770.54 million versus the consensus estimate of $769.09 million.
AMD (NYSE: AMD) 11.2% LOWER; offering preliminary Q3 results: sees sales up 4-6 percent sequentially, down from a prior outlook of up 8-12 percent. Q3 gross margin expected to be 44-45%, down from previous guidance of about 47%. The stock was downgraded at Macquarie, ThinkEquity and Longbow.
Glu Mobile (Nasdaq: GLUU) 10.4% LOWER; stock continuing to fall after failing to retake the 200-day smooth moving average early yesterday. The stock tumbled nearly 15 percent yesterday.
SINA (Nasdaq: SINA) 10.3% LOWER; US-listed Chinese stocks are getting absolutely smashed this morning as the DoJ is currently probing these companies related to the recent wave of Chinese accounting fraud.
Insituform (Nasdaq: INSU) 9.9% LOWER; sees Q3 adj-EPS of 25-27 cents, vs. the Street estimate of 42 cents. Cuts its FY11 EPS guidance from $1.30-$1.40 to $0.90-$1.00, versus the consensus estimate of $1.19.
Soufun (Nasdaq: SFUN) 9% LOWER; see Youku.com.
ING Groep (NYSE: ING) 8.9% HIGHER; while Eurobanks are getting a bounce this morning, ING shares are sharply higher amid reports the company is looking to sell its 36 percent stake in SulAmerica.
Fossil, Inc. (Nasdaq: FOSL) 8.7% LOWER; is seeing some pressure on negative comments from analysts at Piper Jaffray.
Wynn Resorts (Nasdaq: WYNN) 8.3% LOWER; traders likely selling the stock today on the heels of worries related to China's worst typhoon, Nesat. Upon making landfall, the storm caused Chinese officials to close schools and other public services. Reports saying officials have suspended ferry services to the all-important Macau.
Baidu (Nasdaq: BIDU) 8.2% LOWER; US-listed Chinese stocks are getting absolutely smashed this morning as the DoJ is currently probing these companies related to the recent wave of Chinese accounting fraud.
Imperial Holdings (NYSE: IFT) 15.5% HIGHER; traders buying the dip today following a 65 percent plunge yesterday amid reports of an FBI raid on the company's Boca Raton offices.
Youku.com (Nasdaq: YOKU) 15% LOWER; US-listed Chinese stocks are getting absolutely smashed this morning as the DoJ is currently probing these companies related to the recent wave of Chinese accounting fraud.
LG Display (NYSE: LPL) 12.3% HIGHER; traders attributing upside to speculation from an analyst at Korea's Kiwoom Securities who believes recent downside in the stock is overdone.
Focus Media (Nasdaq: FMCN) 11.7% LOWER; see Youku.com
Thor Industries, Inc. (NYSE: THO) 11.3% HIGHER; reported Q4 EPS of $0.66, $0.05 better than the analyst estimate of $0.61. Revenue for the quarter came in at $770.54 million versus the consensus estimate of $769.09 million.
AMD (NYSE: AMD) 11.2% LOWER; offering preliminary Q3 results: sees sales up 4-6 percent sequentially, down from a prior outlook of up 8-12 percent. Q3 gross margin expected to be 44-45%, down from previous guidance of about 47%. The stock was downgraded at Macquarie, ThinkEquity and Longbow.
Glu Mobile (Nasdaq: GLUU) 10.4% LOWER; stock continuing to fall after failing to retake the 200-day smooth moving average early yesterday. The stock tumbled nearly 15 percent yesterday.
SINA (Nasdaq: SINA) 10.3% LOWER; US-listed Chinese stocks are getting absolutely smashed this morning as the DoJ is currently probing these companies related to the recent wave of Chinese accounting fraud.
Insituform (Nasdaq: INSU) 9.9% LOWER; sees Q3 adj-EPS of 25-27 cents, vs. the Street estimate of 42 cents. Cuts its FY11 EPS guidance from $1.30-$1.40 to $0.90-$1.00, versus the consensus estimate of $1.19.
Soufun (Nasdaq: SFUN) 9% LOWER; see Youku.com.
ING Groep (NYSE: ING) 8.9% HIGHER; while Eurobanks are getting a bounce this morning, ING shares are sharply higher amid reports the company is looking to sell its 36 percent stake in SulAmerica.
Fossil, Inc. (Nasdaq: FOSL) 8.7% LOWER; is seeing some pressure on negative comments from analysts at Piper Jaffray.
Wynn Resorts (Nasdaq: WYNN) 8.3% LOWER; traders likely selling the stock today on the heels of worries related to China's worst typhoon, Nesat. Upon making landfall, the storm caused Chinese officials to close schools and other public services. Reports saying officials have suspended ferry services to the all-important Macau.
Baidu (Nasdaq: BIDU) 8.2% LOWER; US-listed Chinese stocks are getting absolutely smashed this morning as the DoJ is currently probing these companies related to the recent wave of Chinese accounting fraud.
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