Morning Movers 10/25: GIW, CDTID, CTV, VALU, PPD, MOTR, PWAV, SOHU Higher; EONC, RAS, CONN Lower

October 25, 2010 10:32 AM EDT
The Wilber Corporation (AMEX: GIW) 54.2% HIGHER; Community Bank System, Inc. (NYSE: CBU) and Wilber announced that they have entered into an agreement whereby Community Bank will acquire The Wilber Corporation for $101.8 million in Community Bank System stock and cash, or $9.50 per share. The transaction is expected to close in early 2011.

Clean Diesel Technologies, Inc. (Nasdaq: CDTID) 42.3% HIGHER; announced that its subsidiary CSI has entered into a settlement agreement with M.N. Mansour and M.N. Mansour, Inc. that ends all outstanding litigation and arbitration claims between the Mansour parties and CSI and a subsidiary relating to the 2006 acquisition by CSI and its subsidiary of the Applied Utility Systems assets. The company also announced that it has been awarded $1.3M in funding by the New York State Energy and Research Development Authority, to supply diesel emission control technology as part of a New York City ferry emission reduction program.

CommScope, Inc. (NYSE: CTV) 30.3% HIGHER; confirmed that it is in discussions with The Carlyle Group regarding a potential 'taking private' transaction at $31.50 per share in cash.

Value Line (Nasdaq: VALU) 20.3% HIGHER; late Friday announced that the company has declared a $2/share special dividend. The dividend will be paid on November 12 to shareholders of record on November 1. Value Line said the special dividend is being paid in lieu of the company's regular quarterly dividend of $0.20 per common share.

eOn Communications (Nasdaq: EONC) 17.3% LOWER; correcting today following an 84% surge on Friday amid a very sharp move higher after 1pm ET. Volume is very heavy today as traders are taking profits.

Pre-Paid Legal (NYSE: PPD) 14.5% HIGHER; says that it is exploring strategic options including a sale and that it has received an offer to be bought at $60/share. A committee is now evaluating this offer which was from a well-known private equity firm. The company also reported Q3 EPS of $1.61, versus the analyst estimate of $1.35. Revenue for the quarter was $112.06 million, which compares to the estimate of $110.94 million.

Motricity (Nasdaq: MOTR) 14% HIGHER; benefiting from a Jim Cramer tout on Friday. Cramer called the stock a "pure play on the burgeoning mobile internet tsunami." Click here to see the full report.

Powerwave Technologies, Inc. (NASDAQ: PWAV) 12.8% HIGHER; announced that Chief Product and Development Officer Khurram Sheikh will discuss at Futurecom 2010 Powerwave’s concept of “Inside Out Networks,” an innovative approach to in-building and outdoor wireless network design that provides ubiquitous mobile broadband access for even the most challenging environments. (Nasdaq: SOHU) 11.5% HIGHER; reports Q3 EPS of $1.16, versus the analyst estimate of $0.90. Revenue for the quarter was $164.1 million, which compares to the estimate of $156.75 million. Sees Q410 revs of $163 - $168 million and a non-GAAP EPS of $1.10 - $1.15, compared to consensus revs of $162.58 million and an EPS of $0.94.

Sykes Enterprises, Inc. (Nasdaq: SYKE) 11.3% HIGHER; sees third-quarter revenue in the range of $304 million to $306 million compared with a previous forecast in the range of $296 million to $301 million. The company also expects preliminary third-quarter earnings of $0.41 to $0.43 compared with a prior view of $0.24 to $0.26.

Office Depot, Inc. (NYSE: ODP) 10.2% HIGHER; announced that their Chairman and CEO Steve Odland has resigned from the company. Lead Director Neil Austrian will serve as interim CEO. The company reports preliminary Q3 sales of about $2.9 billion and an EPS of $0.18. Consensus sees revs of $2.95 billion and a loss of $0.02 per share.

RAIT Financial (NYSE: RAS) 9.5% LOWER; shares are continuing lower today following a nearly 20% decline on Friday amid Q3 earnings. The company reported EPS of 16c, compared to a loss of 38c during the same quarter last year.

Conn's (Nasdaq: CONN) 8.7% LOWER; continuing lower today following a 23% sell-off on Friday amid news that the company expects challenging conditions moving forward and sees losses during Q3 and Q4.

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