Morning Movers 10/01: MEDQ, IDN, APP, DEAR, GYMB, CVV, RELL, ACTG Higher; DVOX, CBK, INMD, LRAD Lower
MedQuist Inc. (Nasdaq: MEDQ) 29.7% HIGHER; announces that they have entered into agreements related to a $310 financing. Proceeds from the financing will be used to refinance the debt incurred by MedQuist in connection with its April 2010 acquisition of the assets of Spheris, Inc. and to pay a one-time special cash dividend of $4.70 per share to all MedQuist shareholders of record as of October 11, 2010. Click here to see the full report.
DynaVox (Nasdaq: DVOX) 29.5% LOWER; Management is withdrawing its FY11 Guidance included in its earnings release dated August 25, 2010 and will provide a further update to the investment community as more information becomes available. Click here to see the full report.
Intellicheck Mobilisa, Inc. (Amex: IDN) 19.5% HIGHER; traders are cheering news today that the Port of Houston, Texas purchased the company’s TWIC readers and began an official pilot test using this new technology.
American Apparel, Inc. (Amex: APP) 19.5% HIGHER; announced that on September 30, 2010 it entered into an amendment to its credit agreement with Lion Capital which, among other things, eliminates the minimum Consolidated EBITDA covenant for the dates through and including December 31, 2010, and provides for the minimum Consolidated EBITDA covenant to be tested monthly during 2011.
Dearborn Bancorp (Nasdaq: DEAR) 19% HIGHER; the stock is continuing higher today following a nearly 30% rise yesterday. The stock has pushed over the $2 resistance level for the first time since July. Volume is extremely heavy today.
Gymboree Corp. (NYSE: GYMB) 17.8% HIGHER; is exploring the possibility of a sale with private equity firms. Click here to see the full report.
Christopher & Banks (NYSE: CBK) 15.7% LOWER; reports Q2 loss of $0.06, versus the analyst estimate of ($0.05). Revenue for the quarter was $101.34 million, which compares to the estimate of $105.38 million. Sees Q3 same-store sales to increase in low single-digits. Piper Jaffray also downgraded the stock this morning.
CVD Equipment Corporation (Nasdaq: CVV) 15.6% HIGHER; announced that orders in the third quarter were about $7.7 million., compared to $2.3 million in the same period last year. Orders YTD were $17 million, beating $7.8 million for Q309.
Integramed(R) (Nasdaq: INMD) 15.5% LOWER; sees Q3 sales up 12% to $60 million and Q4 sales of about $59 million. Sees modest delays in bringing some operations to market.
Richardson Electronics, Ltd. (Nasdaq: RELL) 12.2% HIGHER; Arrow Electronics, Inc. (NYSE: ARW) announced that they have entered into a definitive agreement for a $210 million acquisition of the RF, Wireless and Power Division of Richardson Electronics. The transaction is expected to be $0.10-$0.20 per share accretive to earnings in the first full year of operations, as is expected to close in early 2011.
Acacia Research Corporation (Nasdaq: ACTG) 10.6% HIGHER; announced that their subsidiary, Software Tree, LLC, has entered into an agreement with Red Hat, Inc (NYSE: RHT). The agreement resolves patent litigation that was pending in the United States District Court for the Eastern District of Texas, Civil Action No: 6:09-cv-00097-LED, related to U.S. Patent No. 6,163,776.
Resources Connections (Nasdaq: RECN) 10% HIGHER; reports Q1 adj-EPS of $0.04, 4 cents better than the analyst estimate of $0.00. Revenue for the quarter was $123.7 million, which compares to the estimate of $120.59 million.
LRAD (Nasdaq: LRAD) 9.6% LOWER; traders are taking profits today following a more than 60% surge over the last three trading sessions amid news of several new orders.
DemandTec (Nasdaq: DMAN) 8.9% HIGHER; reports Q2 adj-EPS of $0.02, 3 cents better than the analyst estimate of ($0.01). Revenue for the quarter was $20.4 million, which compares to the estimate of $19.56 million.
To get this report daily, visit http://www.streetinsider.com/entities/Morning+Movers.
DynaVox (Nasdaq: DVOX) 29.5% LOWER; Management is withdrawing its FY11 Guidance included in its earnings release dated August 25, 2010 and will provide a further update to the investment community as more information becomes available. Click here to see the full report.
Intellicheck Mobilisa, Inc. (Amex: IDN) 19.5% HIGHER; traders are cheering news today that the Port of Houston, Texas purchased the company’s TWIC readers and began an official pilot test using this new technology.
American Apparel, Inc. (Amex: APP) 19.5% HIGHER; announced that on September 30, 2010 it entered into an amendment to its credit agreement with Lion Capital which, among other things, eliminates the minimum Consolidated EBITDA covenant for the dates through and including December 31, 2010, and provides for the minimum Consolidated EBITDA covenant to be tested monthly during 2011.
Dearborn Bancorp (Nasdaq: DEAR) 19% HIGHER; the stock is continuing higher today following a nearly 30% rise yesterday. The stock has pushed over the $2 resistance level for the first time since July. Volume is extremely heavy today.
Gymboree Corp. (NYSE: GYMB) 17.8% HIGHER; is exploring the possibility of a sale with private equity firms. Click here to see the full report.
Christopher & Banks (NYSE: CBK) 15.7% LOWER; reports Q2 loss of $0.06, versus the analyst estimate of ($0.05). Revenue for the quarter was $101.34 million, which compares to the estimate of $105.38 million. Sees Q3 same-store sales to increase in low single-digits. Piper Jaffray also downgraded the stock this morning.
CVD Equipment Corporation (Nasdaq: CVV) 15.6% HIGHER; announced that orders in the third quarter were about $7.7 million., compared to $2.3 million in the same period last year. Orders YTD were $17 million, beating $7.8 million for Q309.
Integramed(R) (Nasdaq: INMD) 15.5% LOWER; sees Q3 sales up 12% to $60 million and Q4 sales of about $59 million. Sees modest delays in bringing some operations to market.
Richardson Electronics, Ltd. (Nasdaq: RELL) 12.2% HIGHER; Arrow Electronics, Inc. (NYSE: ARW) announced that they have entered into a definitive agreement for a $210 million acquisition of the RF, Wireless and Power Division of Richardson Electronics. The transaction is expected to be $0.10-$0.20 per share accretive to earnings in the first full year of operations, as is expected to close in early 2011.
Acacia Research Corporation (Nasdaq: ACTG) 10.6% HIGHER; announced that their subsidiary, Software Tree, LLC, has entered into an agreement with Red Hat, Inc (NYSE: RHT). The agreement resolves patent litigation that was pending in the United States District Court for the Eastern District of Texas, Civil Action No: 6:09-cv-00097-LED, related to U.S. Patent No. 6,163,776.
Resources Connections (Nasdaq: RECN) 10% HIGHER; reports Q1 adj-EPS of $0.04, 4 cents better than the analyst estimate of $0.00. Revenue for the quarter was $123.7 million, which compares to the estimate of $120.59 million.
LRAD (Nasdaq: LRAD) 9.6% LOWER; traders are taking profits today following a more than 60% surge over the last three trading sessions amid news of several new orders.
DemandTec (Nasdaq: DMAN) 8.9% HIGHER; reports Q2 adj-EPS of $0.02, 3 cents better than the analyst estimate of ($0.01). Revenue for the quarter was $20.4 million, which compares to the estimate of $19.56 million.
To get this report daily, visit http://www.streetinsider.com/entities/Morning+Movers.
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