Morning Movers 10/26: NYER, SMLC, IGLD, AMIE, ALD, PRKR Higher; FTWR, PVTB, SMA, FOH, SOHU Lower
Nyer Medical Group, Inc., (NASDAQ: NYER) 210% HIGHER; announced today that D.A.W., Inc., a wholly-owned subsidiary of Nyer which does business under the name Eaton Apothecary, and Nyer entered into a definitive agreement with Walgreen Eastern Co. (NYSE: WAG), Inc. for the sale of a substantial portion of DAW's operating assets, including prescription files and inventory of a total of 12 neighborhood pharmacies which includes the assignment of eight leases, for a purchase price, subject to certain adjustments, of $12.0 million plus up to $5.75 million of qualifying inventory and $1.1 million of operating equipment.
012 Smile.Communications Ltd. (Nasdaq: SMLC) 41.7% HIGHER; today announced that it has entered into a definitive share purchase agreement under which it will acquire a controlling interest of approximately 30.6% in Bezeq The Israel Telecommunication Corp. from Ap.Sb.Ar. Holdings Ltd., in a cash transaction currently valued at approximately NIS 6.5 billion, or NIS 8.00 per share, representing a 7.0% discount on the shares of Bezeq based on Bezeq's closing share price prior to the announcement (as of October 22, 2009). 012 Smile will be entitled to receive all dividends payable by Bezeq to Ap.Sb.Ar. prior to closing.
FiberTower Corporation (Nasdaq: FTWR) 34.9% LOWER; today announced today that it has commenced an exchange offer and consent solicitation relating to any and all of its outstanding 9.00% Convertible Senior Secured Notes due 2012 Additionally, the company said Crown Castle (NYSE: CCI) will remain as a minority investor and Crown Castle's Vice Chairman, John Kelly, will be named Chairman.
Internet Gold (Nasdaq: IGLD) 33.7% HIGHER; see 012 Smile.Communications. Internet Gold owns 75.3% of 012 Smile.
PrivateBancorp, Inc. (NASDAQ: PVTB) 23.5% LOWER; reports Q3 loss of $0.68, versus the analyst estimate of $0.08. Interest income for the quarter was $125.69 million, versus $109.81 million for the same quarter 2008.
Symmetry Medical Inc. (NYSE: SMA) 22.9% LOWER; lowers its FY09 sales guidance from $385-$405 million to $355-$365 million, versus the consensus of $391.28 million. EPS guidance for the year moves from $0.77-$0.85 to $0.63-$0.68. The Street is currently looking for FY09 EPS of $0.80.
Ambassadors International, Inc. (Nasdaq: AMIE) 21% HIGHER; announced today that it is extending its previously announced exchange offer for any and all of the Company's $97 million of outstanding 3.75% Convertible Senior Notes due 2027, CUSIP Nos. 023178AA4 and 023178AB2. The terms of the Exchange Offer are amended accordingly. The new expiration date for the Exchange Offer is 5:00 p.m., New York City time, on Thursday, November 5, 2009, unless further extended or earlier terminated by the Company at its discretion.
Allied Capital Corporation (NYSE: ALD) 20.9% HIGHER; Ares Capital Corporation (NASDAQ: ARCC) and Allied announced today that they have entered into a definitive agreement under which Ares Capital will acquire Allied Capital in an all stock transaction currently valued at $648 million, or approximately $3.47 per Allied Capital share.
ParkerVision, Inc. (Nasdaq: PRKR) 17.8% HIGHER; announced today that it has successfully delivered sample 3G mobile handsets incorporating its d2p radio frequency integrated circuits to its commercial chipset customer. The performance of these sample handsets was tested, verified and accepted by the chipset customer, a licensee of ParkerVision's d2p and d2d(TM) technologies. The sample handsets were assembled for the purpose of verifying the d2p technology in working mobile handset implementations, testing the technology in actual network operation, and creating sales samples for handset OEM/ODMs who purchase chipsets from ParkerVision's licensee.
Frederick's of Hollywood Group Inc. (Amex: FOH) 16.9% LOWER; reports a Q4 loss of $0.27 compared to a loss of $0.28 for the same period last year. Revenues were $34.46 million compared to $42.1 million for Q4 of last year.
Elron Electronic Industries Ltd. (NASDAQ: ELRN) 16.1% HIGHER; today announced that a non-binding indication of interest of a third party regarding a potential acquisition of Medingo Ltd., an Elron subsidiary, has been received. The Indication relates to an acquisition of Medingo's entire share capital for a cash consideration ranging from $150 million to $170 million and a contingent additional cash consideration conditional upon one or more milestone(s) to be mutually agreed, which may bring total consideration up to between $185 million and $213 million.
Sohu.com Inc. (Nasdaq: SOHU) 14.1% LOWER; reports Q3 EPS of $0.96, ex-items, 7 cents better than the analyst estimate of $0.89. Revenue for the quarter was $136.6 million, which compares to the estimate of $136.36 million. Sees Q4 sales of $134.5-$138.5 million, versus the consensus of $140.77 million, with non-GAAP EPS of $0.90-$0.95, versus the Street estimate of $0.99.
SuperGen, Inc. (NASDAQ: SUPG) 13.9% HIGHER; SuperGen and GlaxoSmithKline (NYSE: GSK) have entered into a multi-year collaboration to discover and develop cancer therapeutics based on epigenetic targets. Epigenetics refers to the regulation of genes with mechanisms other than changes to the underlying DNA sequence. Epigenetic processes are widely believed to play a central role in the development and progression of almost all cancers. Under the terms of the deal, SuperGen will progress candidate compounds through to early clinical proof of concept. GlaxoSmithKline will then have the right to exercise an option to develop further and commercialize resulting products on a global basis. In connection with the transaction, SuperGen will receive $5 million upfront, inclusive of a $3 million common stock investment, priced at a premium to market. Total potential development and commercialization milestones payable to SuperGen could exceed $375 million.
RadioShack Corporation (NYSE: RSH) 13.9% HIGHER; reports Q3 EPS of $0.30, versus the analyst estimate of $0.31. Revenue for the quarter was $990 million, which compares to the estimate of $960.97 million.
Ethan Allen Interiors Inc. (NYSE: ETH) 13.8% LOWER; today announced it has amended its existing three year senior secured revolving credit facility, increasing the line to $60 million by adding a $20 million commitment from Wells Fargo Retail Finance, LLC who is now part of the company's bank group. Sees Q1 EPS of $0.21-$0.23.
BioCryst Pharmaceuticals, Inc. (Nasdaq: BCRX) 12.7% HIGHER; late Friday, BioCryst announced that the FDA, in response to a request from the U.S. Centers for Disease Control and Prevention (CDC), has issued an emergency use authorization for the investigational anti-viral drug intravenous peramivir in certain adult and pediatric patients with confirmed or suspected 2009 H1N1 influenza infection who are admitted to a hospital. Click here for the full report.
MarineMax (NYSE: HZO) 11% HIGHER; Rochdale Securities upgrades the stock from Hold to Buy. Price target increased from $6 to $10. Click here for the full report.
Changyou.com Limited (NASDAQ: CYOU) 11% LOWER; reports Q3 EPS of $0.71, 2 cents better than the analyst estimate of $0.69. Revenue for the quarter was $68.7 million, which compares to the estimate of $69.39 million. Changyou estimates Q409 revs of $69 - $71 million, and non-GAAP EPS of $0.78 - $0.80. Also downgraded to Hold at Brean Murray.
Atlas Air Worldwide Holdings Inc. (Nasdaq: AAWW) 10.8% LOWER; reports Q3 EPS of $0.70, 13 cents better than the analyst estimate of $0.57. Revenue for the quarter was $255.48 million, which compares to the estimate of $237.36 million.
Rockwood Holdings, Inc. (NYSE: ROC) 9.3% HIGHER; reports Q3 EPS of $0.19, 4 cents better than the analyst estimate of $0.15. Revenue for the quarter was $786.2 million, which compares to the estimate of $752.65 million.
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