Morning Movers 09/30: HYC, DEAR, RWC, VRNT, JSDA, MTW, SNTS, SNX, CSIQ Higher; LBIX, TXCC, AIB, CRUS Lower
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Hypercom (NYSE: HYC) 45.6% HIGHER; In a letter to the Board, VeriFone announced that following Hypercom's failure to engage in meaningful discussions with the company after an initial offer of 0.21 PAY shares for every HYC share was made, VeriFone will now offer cash to the tune of $5.25/share. Click here to see the full report.
Dearborn Bancorp (Nasdaq: DEAR) 21.6% HIGHER; shares are surging today on very heavy volume. The stock is back over the $1.40 level.
RELM Wireless Corporation (AMEX: RWC) 18% HIGHER; announces receipt of $2.5 million in orders from the U.S. Department of Agriculture, Forest Service. These orders are primarily for RELM's long-time flagship D-Series digital P-25 portable and mobile radios. The order will be fulfilled in Q3 and Q4.
Verint Systems (Nasdaq: VRNT) 14% HIGHER; seeing some buyout interest today.
Leading Brands (Nasdaq: LBIX) 13.8% LOWER; reports Q3 EPS of $0.16, versus $0.22 reported for the same period a year ago. Excluding stock-based compensation, the company reported a loss of 14c vs. a gain of 20c last year. Revenue for the quarter was $5.87 million, compared to $6.11 million in Q309.
Jones Soda (Nasdaq: JSDA) 13.1% HIGHER; shares are continuing higher today following a 16% rise yesterday. Volume remains extremely heavy. Not hearing any company-specific news but traders always like to speculate on this one.
TranSwitch Corporation (Nasdaq: TXCC) 10.8% LOWER; lowers Q3 revs guidance to about $12.8 million, down from $13.5 - $14.5 million previously. Consensus sees $14 million. Company continues to expect its non-GAAP gross margin to be approximately 53%. Non-GAAP net income for Q310 is expected to be break-even.
Allied Irish Banks plc (NYSE: AIB) 10.4% LOWER; the bank seeks additional capital, further diluting current shareholders and putting the bank more in the hands of the Irish government. Irish Financial Regulator have increased the amount of equity capital required at the bank from EUR7.4 billion to EUR10.4 billion. As a results, Allied Irish Banks is launching a EUR5.4 billion equity capital raising in November, will be completed before the end of the year.
Manitowoc (NYSE: MTW) 10.3% HIGHER; traders are cheering news from last night that the company is looking to amend its senior credit facility and also announced plans to issue at least $500 million in senior unsecured notes.
Santarus (Nasdaq: SNTS) 9.6% HIGHER; Santarus and Cosmo announce positive top-line results in a US Phase 3 trial studying budesonide MMX in ulcerative colitis.
Synnex (NYSE: SNX) 8.7% HIGHER; reports Q3 EPS of $0.86, 12 cents better than the analyst estimate of $0.74. Revenue for the quarter was $2.18 billion, which compares to the estimate of $2.11 billion. Sees Q4 revs of $2.3 - $2.4 billion and an EPS of $0.94 - $0.97. Consensus sees an EPS of $0.88 and revs of $2.32 billion.
Canadian Solar Inc. (Nasdaq: CSIQ) 8.6% HIGHER; Jefferies upgrades the stock from Hold to Buy and raised its price target from $12 to $17, citing higher ASPs in 2011.
Limelight Networks (Nasdaq: LLNW) 8.5% HIGHER; shares are jumping pre-market today, as Jim Cramer spoke with CEO Jeff Lunsford on his Mad Money show last night. The exec offered a few bullish remarks about the company. Click here to see the full report.
Lecroy (Nasdaq: LCRY) 8.2% HIGHER; sees Q1 sales up 38% to $38.6 million, order growth of 50% and adj-operating margin of 10.4%.
Cirrus Logic Inc. (Nasdaq: CRUS) 8.2% LOWER; shares are under heavy pressure in pre-open trading on rumors the company will lose the contract for future Apple (Nasdaq: AAPL) iPhones
Covance Inc. (NYSE: CVD) 8.1% HIGHER; announces that they have signed an agreement to become sanofi-aventis (NYSE: SNY) R&D partner. CVD expects $1.2 - $2.2 billion in payments for R&D work over the next ten years.
DG FastChannel, Inc. (Nasdaq: DGIT) 8% HIGHER; announces the $26 million acquisition of Match Point Media LLC and its divisions, Treehouse Media Services, Inc. and Voltage Video, Inc. The deal will close October 1, 2010.
To get this report daily, visit http://www.streetinsider.com/entities/Morning+Movers.
Dearborn Bancorp (Nasdaq: DEAR) 21.6% HIGHER; shares are surging today on very heavy volume. The stock is back over the $1.40 level.
RELM Wireless Corporation (AMEX: RWC) 18% HIGHER; announces receipt of $2.5 million in orders from the U.S. Department of Agriculture, Forest Service. These orders are primarily for RELM's long-time flagship D-Series digital P-25 portable and mobile radios. The order will be fulfilled in Q3 and Q4.
Verint Systems (Nasdaq: VRNT) 14% HIGHER; seeing some buyout interest today.
Leading Brands (Nasdaq: LBIX) 13.8% LOWER; reports Q3 EPS of $0.16, versus $0.22 reported for the same period a year ago. Excluding stock-based compensation, the company reported a loss of 14c vs. a gain of 20c last year. Revenue for the quarter was $5.87 million, compared to $6.11 million in Q309.
Jones Soda (Nasdaq: JSDA) 13.1% HIGHER; shares are continuing higher today following a 16% rise yesterday. Volume remains extremely heavy. Not hearing any company-specific news but traders always like to speculate on this one.
TranSwitch Corporation (Nasdaq: TXCC) 10.8% LOWER; lowers Q3 revs guidance to about $12.8 million, down from $13.5 - $14.5 million previously. Consensus sees $14 million. Company continues to expect its non-GAAP gross margin to be approximately 53%. Non-GAAP net income for Q310 is expected to be break-even.
Allied Irish Banks plc (NYSE: AIB) 10.4% LOWER; the bank seeks additional capital, further diluting current shareholders and putting the bank more in the hands of the Irish government. Irish Financial Regulator have increased the amount of equity capital required at the bank from EUR7.4 billion to EUR10.4 billion. As a results, Allied Irish Banks is launching a EUR5.4 billion equity capital raising in November, will be completed before the end of the year.
Manitowoc (NYSE: MTW) 10.3% HIGHER; traders are cheering news from last night that the company is looking to amend its senior credit facility and also announced plans to issue at least $500 million in senior unsecured notes.
Santarus (Nasdaq: SNTS) 9.6% HIGHER; Santarus and Cosmo announce positive top-line results in a US Phase 3 trial studying budesonide MMX in ulcerative colitis.
Synnex (NYSE: SNX) 8.7% HIGHER; reports Q3 EPS of $0.86, 12 cents better than the analyst estimate of $0.74. Revenue for the quarter was $2.18 billion, which compares to the estimate of $2.11 billion. Sees Q4 revs of $2.3 - $2.4 billion and an EPS of $0.94 - $0.97. Consensus sees an EPS of $0.88 and revs of $2.32 billion.
Canadian Solar Inc. (Nasdaq: CSIQ) 8.6% HIGHER; Jefferies upgrades the stock from Hold to Buy and raised its price target from $12 to $17, citing higher ASPs in 2011.
Limelight Networks (Nasdaq: LLNW) 8.5% HIGHER; shares are jumping pre-market today, as Jim Cramer spoke with CEO Jeff Lunsford on his Mad Money show last night. The exec offered a few bullish remarks about the company. Click here to see the full report.
Lecroy (Nasdaq: LCRY) 8.2% HIGHER; sees Q1 sales up 38% to $38.6 million, order growth of 50% and adj-operating margin of 10.4%.
Cirrus Logic Inc. (Nasdaq: CRUS) 8.2% LOWER; shares are under heavy pressure in pre-open trading on rumors the company will lose the contract for future Apple (Nasdaq: AAPL) iPhones
Covance Inc. (NYSE: CVD) 8.1% HIGHER; announces that they have signed an agreement to become sanofi-aventis (NYSE: SNY) R&D partner. CVD expects $1.2 - $2.2 billion in payments for R&D work over the next ten years.
DG FastChannel, Inc. (Nasdaq: DGIT) 8% HIGHER; announces the $26 million acquisition of Match Point Media LLC and its divisions, Treehouse Media Services, Inc. and Voltage Video, Inc. The deal will close October 1, 2010.
To get this report daily, visit http://www.streetinsider.com/entities/Morning+Movers.
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