Morning Movers 10/19: PATH, GTSI, PTEK, DIET, CSCX Higher; CWTR, INFN, BXC, OGXI, SVU, OCLR Lower
Up)
Coldwater Creek (Nasdaq: CWTR) 32.8% LOWER; lowers its Q3 guidance from a gain of 1-4c to a loss of 14-19c, which compares to the Street estimate of a 3c gain. Sees sales of $225-$230 million, vs. the consensus of $278.5 million.
Infinera (Nasdaq: INFN) 32.7% LOWER; reports Q3 EPS of $0.18, ex-items, 9 cents better than the analyst estimate of $0.09. Revenue for the quarter was $130.1 million, which compares to the estimate of $126.44 million. On the call, the company said they are seeing "less visibility than we have had in recent quarters." The company's Co-Founder and Chairman, Jagdeep Singh is resigning. The stock was downgraded at Stifel Nicolaus and Soleil this morning.
BlueLinx Holdings Inc. (NYSE: BXC) 23% LOWER; Cerberus ABP Investor LLC, an affiliate of Cerberus Capital Management, L.P., and owner of a 55.37% majority stake in BlueLinx Holdings, today announced that CAI and Cerberus' cash tender offer of $4.00 per share for all of the outstanding publicly held shares of BlueLinx not owned by CAI expired at midnight, New York City time, on Monday, October 18, 2010, without acceptance of the tendered shares, due to the 90% Condition not being satisfied. It had been a condition to the Amended Offer that, as a result of the Amended Offer, CAI would own at least 90% of the issued and outstanding shares of the Company.
NuPathe Inc. (Nasdaq: PATH) 20.1% HIGHER; announces positive top-line results from a 12 month open-label, safety trial for Zelrix. The company also announces the development of an in vitro analytical testing method for Zelrix, as requested by the U.S. FDA, to confirm the amount of sumatriptan delivered. Zelrix is a single-use, transdermal sumatriptan patch in development for the treatment of migraine.
GTSI Corp. (NASDAQ: GTSI) 16.8% HIGHER; announced that the Small Business Administration has lifted the temporary federal contract suspension it imposed on the company on October 1, 2010, allowing GTSI and its approximately 525 employees to immediately resume full business with most of GTSI’s existing clients and to pursue new contracts with the federal government.
Oncogenex Pharma (Nasdaq: OGXI) 14.1% LOWER; prices its public offering of about 3.17 million units (each consisting of one shares of common stock and on-half of one warrant) at a price of $15.75/unit for an aggregate offering amount of $50 million.
Supervalu (NYSE: SVU) 11.8% LOWER; reports Q2 adjusted EPS of $0.28, versus the analyst estimate of $0.29. Revenue for the quarter was $8.66 billion, which compares to the estimate of $8.74 billion. Lowers FY11 EPS outlook from $1.75 - $1.95 to $1.40 - $1.60, compared to the consensus of $1.70.
Oclaro, Inc. (Nasdaq: OCLR) 11.2% LOWER; and Oplink Communications Inc. (Nasdaq: OPLK) are down in sympathy with Infinera, following a cautious fourth quarter outlook from Infinera. Infinera said its limited visibility versus prior quarters, and is a 10 percent customer of both OCLR and OPLK.
PokerTek, Inc. (NASDAQ: PTEK) 9.3% HIGHER; positive comments from the company's CEO and CFO in this morning's release announcing that it will report Q3 results on November 2. The exec said "Our financial performance continued to improve this quarter as a result of the strategic initiatives implemented over the past 18 months. Our revenues increased, gross margins continued to expand and our operating cash flow was in the black for the first time in Company history."
eDiets.com, Inc. (NASDAQ: DIET) 8.4% HIGHER; today announced that it has retained Craig-Hallum Capital Group LLC to assist management in exploring the divesture of certain non-strategic assets.
Cardiac Science Corporation (Nasdaq: CSCX) 8.3% HIGHER; Cardiac Science and Opto Circuits (India) Limited announced that they have entered into an agreement whereby Opto will acquire all outstanding shares of Cardic Science for a consideration of $2.30 per share.
To get this report daily, visit http://www.streetinsider.com/entities/Morning+Movers.
Infinera (Nasdaq: INFN) 32.7% LOWER; reports Q3 EPS of $0.18, ex-items, 9 cents better than the analyst estimate of $0.09. Revenue for the quarter was $130.1 million, which compares to the estimate of $126.44 million. On the call, the company said they are seeing "less visibility than we have had in recent quarters." The company's Co-Founder and Chairman, Jagdeep Singh is resigning. The stock was downgraded at Stifel Nicolaus and Soleil this morning.
BlueLinx Holdings Inc. (NYSE: BXC) 23% LOWER; Cerberus ABP Investor LLC, an affiliate of Cerberus Capital Management, L.P., and owner of a 55.37% majority stake in BlueLinx Holdings, today announced that CAI and Cerberus' cash tender offer of $4.00 per share for all of the outstanding publicly held shares of BlueLinx not owned by CAI expired at midnight, New York City time, on Monday, October 18, 2010, without acceptance of the tendered shares, due to the 90% Condition not being satisfied. It had been a condition to the Amended Offer that, as a result of the Amended Offer, CAI would own at least 90% of the issued and outstanding shares of the Company.
NuPathe Inc. (Nasdaq: PATH) 20.1% HIGHER; announces positive top-line results from a 12 month open-label, safety trial for Zelrix. The company also announces the development of an in vitro analytical testing method for Zelrix, as requested by the U.S. FDA, to confirm the amount of sumatriptan delivered. Zelrix is a single-use, transdermal sumatriptan patch in development for the treatment of migraine.
GTSI Corp. (NASDAQ: GTSI) 16.8% HIGHER; announced that the Small Business Administration has lifted the temporary federal contract suspension it imposed on the company on October 1, 2010, allowing GTSI and its approximately 525 employees to immediately resume full business with most of GTSI’s existing clients and to pursue new contracts with the federal government.
Oncogenex Pharma (Nasdaq: OGXI) 14.1% LOWER; prices its public offering of about 3.17 million units (each consisting of one shares of common stock and on-half of one warrant) at a price of $15.75/unit for an aggregate offering amount of $50 million.
Supervalu (NYSE: SVU) 11.8% LOWER; reports Q2 adjusted EPS of $0.28, versus the analyst estimate of $0.29. Revenue for the quarter was $8.66 billion, which compares to the estimate of $8.74 billion. Lowers FY11 EPS outlook from $1.75 - $1.95 to $1.40 - $1.60, compared to the consensus of $1.70.
Oclaro, Inc. (Nasdaq: OCLR) 11.2% LOWER; and Oplink Communications Inc. (Nasdaq: OPLK) are down in sympathy with Infinera, following a cautious fourth quarter outlook from Infinera. Infinera said its limited visibility versus prior quarters, and is a 10 percent customer of both OCLR and OPLK.
PokerTek, Inc. (NASDAQ: PTEK) 9.3% HIGHER; positive comments from the company's CEO and CFO in this morning's release announcing that it will report Q3 results on November 2. The exec said "Our financial performance continued to improve this quarter as a result of the strategic initiatives implemented over the past 18 months. Our revenues increased, gross margins continued to expand and our operating cash flow was in the black for the first time in Company history."
eDiets.com, Inc. (NASDAQ: DIET) 8.4% HIGHER; today announced that it has retained Craig-Hallum Capital Group LLC to assist management in exploring the divesture of certain non-strategic assets.
Cardiac Science Corporation (Nasdaq: CSCX) 8.3% HIGHER; Cardiac Science and Opto Circuits (India) Limited announced that they have entered into an agreement whereby Opto will acquire all outstanding shares of Cardic Science for a consideration of $2.30 per share.
To get this report daily, visit http://www.streetinsider.com/entities/Morning+Movers.
You May Also Be Interested In
- Trading Radar for 05/29: Eltek (ELTK), Sanderson Farms (SAFM), Chimera Investment (CIM), Cavco Industries (CVCO) Report
- Notable Analyst Rating Changes 05/24: (PPG) (WPI) (DUK) Upgraded; (BHI) (HGSI) (COG) Downgraded
- Trading Radar for 05/24: Costco (COST), H.J. Heinz (HNZ), Tiffany & Co. (TIF), VeriFone (PAY) Report
Create E-mail Alert Related Categories
Special ReportsRelated Entities
Stifel Nicolaus, Cerberus Capital, Soleil Securities, Morning MoversSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
