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Morning Movers 10/12: (LIZ) (AONE) (GTIV) (GLUU) (JVA) Higher; (JOEZ) (PTP) (EXFO) Lower

October 12, 2011 10:29 AM EDT
Liz Claiborne, Inc. (NYSE: LIZ) 27.7% HIGHER; has entered into definitive agreements to sell its Liz Claiborne, Monet and Kensie brands to J.C. Penney (NYSE: JCP), and has completed the sale of its Dana Buchman brand to Kohl's (NYSE: KSS), for total cash proceeds of approximately $328 million, of which $308 million represents sale proceeds. The Company has also agreed with Donna Karan International to an early termination of its DKNY® Jeans and DKNY® Active license.

A123 (Nasdaq: AONE) 13% HIGHER; reports suggest the company may supply batteries to GM's (NYSE: GM) new Spark vehicle. The stock is now up 16 percent to $3.84.

Joe's Jean, Inc. (NASDAQ: JOEZ) 13% LOWER; reported Q3 EPS of ($0.03), $0.05 worse than the analyst estimate of $0.02. Revenue for the quarter came in at $24.2 million versus the consensus estimate of $27.85 million.

Gentiva (Nasdaq: GTIV) 11.7% HIGHER; shares continuing higher today following a nearly 10 percent rise yesterday. The stock fell more than 30 percent last week amid allegations of abuse from a Senate committee. The stock may be getting a boost today following upgrades on Humana (NYSE: HUM) and Healthspring (NYSE: HS) from Oppenheimer.

Glu Mobile (Nasdaq: GLUU) 10.8% HIGHER; may be moving higher following a release from the company which disclosed the launch of its new freemium title, Contract Killer: Zombies. Prior to today's move, Glu shares were up more than 13 percent this week. The stock seems to be holding above its 200-day SMA.

Coffee Holding Co. (Nasdaq: JVA) 10.5% HIGHER; shares have more than doubled since a recent low set on October 4th. The stock is continuing to hold above the 200-day SMA this morning.

Aluminum Corp. of China (NYSE: ACH) 10.3% HIGHER; moving sharply higher despite a Q3 miss from Alcoa (NYSE: AA) last night.

Barclays (NYSE: BCS) 8.7% HIGHER; continuing to get a relief rally this week as concerns in the Eurozone, while certainly still very prominent, are easing, at least on the sentiment side of things. Shares are down nearly 25 percent since the late-July highs.

Infosys Technologies Ltd (NASDAQ: INFY) 8.5% HIGHER; reported Q2 EPS of $0.72, $0.03 better than the analyst estimate of $0.69. Revenue for the quarter came in at $1.75 billion versus the consensus estimate of $1.74 billion. Sees Q3 2012 EPS of $0.79-$0.80, versus the consensus of $0.75. Sees Q3 2012 revenue of $1.802-$1.840 billion, versus the consensus of $1.83 billion. Sees FY2012 EPS of $3.02-$3.06, versus the consensus of $2.88. Sees FY2012 revenue of $7.08-$7.20 billion, versus the consensus of $7.11 billion.

Skyworks (Nasdaq: SWKS) 8.5% HIGHER; seems to be breaking out above a resistance level around $20 today.

Platinum Underwriters Holdings, Ltd. (NYSE: PTP) 6.6% LOWER; today announced that it expects losses from major catastrophes in the third quarter of 2011 and increases to its loss estimates for major catastrophes in the first and second quarters of 2011 will have a net negative impact of approximately $112.4 million on the Company's third quarter 2011 results. The net negative impact from these events includes an estimate of losses and loss adjustment expenses, net of retrocessional coverage, reinstatement premiums, taxes and the expected impact of foreign exchange rates.

EXFO, Inc. (NASDAQ: EXFO) 5.2% LOWER; reported Q4 EPS of $0.03, which may not compare to the analyst estimate of $0.07. Revenue for the quarter came in at $64.4 million versus the consensus estimate of $64.69 million. Sees Q1 2012 EPS of $0.01-$0.05, versus the consensus of $0.10. Sees Q1 2012 revenue of $65-$70 million, versus the consensus of $72.02 million. The stock was also downgraded at TD this morning.

Chesapeake Midstream Partners, L.P. (NYSE: CHKM) 5.2% LOWER; today announced the pricing of an underwritten public offering of 10 million common units representing limited partner interests owned by Global Infrastructure Partners (GIP). GIP offered the common units to the public at $26.65 per unit and has granted the underwriters a 30-day option to purchase up to 1.5 million additional common units.


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