Morning Movers 11/01: (BBX) (ICLK) (RDN) Higher; (EXEL) (SIFY) (ASIA) (NNBR) (BGC) Lower
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BankAtlantic Bancorp (NYSE: BBX) 122% HIGHER; BB&T Corporation (NYSE: BBT) announced an agreement to acquire BankAtlantic from BankAtlantic Bancorp, which will boost the bank's presence in Southeast Florida including top market Miami. BB&T is acquiring approximately $2.1 billion in loans and assume approximately $3.3 billion in deposits from BankAtlantic. BB&T is paying an approximate $301 million premium plus net asset value of BankAtlantic at close.
Exelixis (Nasdaq: EXEL) 36.9% LOWER; announced it will initiate the first Phase 3 '306 pivotal trial of cabozantinib in patients with metastatic CRPC. Pain will be the primary efficacy endpoint for the trial. The company was not able to reach a timely agreement with the FDA under a SPA on the proposed design and analysis of the '306 trial. Exelixis expects to begin the '307 pivotal trial during the first half of next year.
Sify Tech (Nasdaq: SIFY) 23.7% LOWER; India-based stocks were hot yesterday. Sify shares closed the session more than 60 percent higher following a sharp rally during the second half of yesterday. Prudent traders are likely taking profits this morning.
AsiaInfo-Linkage, Inc. (NASDAQ: ASIA) 22% LOWER; reported Q3 EPS of $0.37, ex-items, $0.01 better than the analyst estimate of $0.36. Revenue for the quarter came in at $117.2 million versus the consensus estimate of $117.08 million. Sees Q4 2011 revenue of $127-$131 million, versus the consensus of $129.43 million.
NN, Inc. (NASDAQ: NNBR) 21.3% LOWER; reported Q3 EPS of $0.20, $0.08 worse than the analyst estimate of $0.28. Revenue for the quarter came in at $101.1 million versus the consensus estimate of $108.3 million. Sees FY2011 revenue of $435-$440 million, versus the consensus of $438.50 million.
interCLICK (Nasdaq: ICLK) 20.7% HIGHER; Yahoo! (Nasdaq: YHOO) to acquire interCLICK for $9/share.
General Cable Corp. (NYSE: BGC) 19.7% LOWER; reported Q3 EPS of $0.33, vs. the analyst estimate of $0.72. Revenue for the quarter came in at $1.52 billion versus the consensus estimate of $1.61 billion. Sees Q4 2011 revenue of $1.4-$1.45 billion, versus the consensus of $1.56 billion.
Radian Group, Inc. (NYSE: RDN) 18.7% HIGHER; reported Q3 EPS of $1.37, versus $0.84 reported last year. Revenue for the quarter came in at $508.05 million, versus $581.33 million reported last year.
Amedisys, Inc. (NASDAQ: AMED) 18.6% LOWER; reported Q3 EPS of $0.36, vs. the analyst estimate of $0.50. Revenue for the quarter came in at $374.9 million versus the consensus estimate of $372.06 million. Also named Ronald Laborde as the company's new President. Dale Redman will transition to the company's CFO. Mike Snow will be leaving from the COO position. Amedisys, Inc. sees FY2011 EPS of $1.90-$2.00, versus prior guidance of $2.20-$2.40 and the consensus of $2.30.
Rediff.com (Nasdaq: REDF) 18.5% LOWER; see Sify. The stock closed yesterday's session 44 percent higher.
Leap Wireless International, Inc. (NASDAQ: LEAP) 18.1% HIGHER; reported Q3 loss of $0.90, versus the analyst estimate of ($0.79). Revenue for the quarter came in at $76.3 million versus the consensus estimate of $763.63 million.
ING Groep (NYSE: ING) 14% LOWER; Eurobanks are once again selling off sharply as debt fears have moved back into the market with yesterday's news of Papandreou's proposed referendum.
NXP Semiconductors N.V. (NASDAQ: NXPI) 13.7% LOWER; reported Q3 EPS of $0.50, versus $0.39 reported last year. Revenue for the quarter came in at $970 million, versus $936 million reported last year. NXP Semiconductors N.V. sees Q4 2011 EPS of $0.20-$0.30. Product Revenue for the fourth quarter of 2011 is anticipated to be in a range of down 8 to14 percent sequentially as compared to the third quarter of 2011.
GeoEye, Inc. (NASDAQ: GEOY) 13.2% LOWER; reported Q3 EPS of $0.51, $0.05 worse than the analyst estimate of $0.56. Revenue for the quarter came in at $85.8 million versus the consensus estimate of $93.01 million. Now sees FY2011 EPS of $1.95-$2.15, versus the consensus of $2.19. Sees FY2011 revenue of $348-$355 million, versus the consensus of $369.56 million.
Rogers Corp. (NYSE: ROG) 11.7% LOWER; reported Q3 EPS of $0.81, $0.02 better than the analyst estimate of $0.79. Revenue for the quarter came in at $147.6 million versus the consensus estimate of $148.35 million.
Bank of Ireland (NYSE: IRE) 10.8% LOWER; see ING.
Akorn, Inc. (NASDAQ: AKRX) 10.6% HIGHER; reported Q3 EPS of $0.13, $0.06 better than the analyst estimate of $0.07. Revenue for the quarter came in at $36.6 million versus the consensus estimate of $33.1 million. Akorn, Inc. sees FY2011 revenue of $130-$132 million, versus the consensus of $124.51 million. The Company’s 2011 gross margin is projected to be approximately 57%.
Baker Hughes, Inc. (NYSE: BHI) 9.7% LOWER; reported Q3 EPS of $1.18, $0.03 worse than the analyst estimate of $1.21. Revenue for the quarter came in at $5.18 billion versus the consensus estimate of $5.17 billion.
Exelixis (Nasdaq: EXEL) 36.9% LOWER; announced it will initiate the first Phase 3 '306 pivotal trial of cabozantinib in patients with metastatic CRPC. Pain will be the primary efficacy endpoint for the trial. The company was not able to reach a timely agreement with the FDA under a SPA on the proposed design and analysis of the '306 trial. Exelixis expects to begin the '307 pivotal trial during the first half of next year.
Sify Tech (Nasdaq: SIFY) 23.7% LOWER; India-based stocks were hot yesterday. Sify shares closed the session more than 60 percent higher following a sharp rally during the second half of yesterday. Prudent traders are likely taking profits this morning.
AsiaInfo-Linkage, Inc. (NASDAQ: ASIA) 22% LOWER; reported Q3 EPS of $0.37, ex-items, $0.01 better than the analyst estimate of $0.36. Revenue for the quarter came in at $117.2 million versus the consensus estimate of $117.08 million. Sees Q4 2011 revenue of $127-$131 million, versus the consensus of $129.43 million.
NN, Inc. (NASDAQ: NNBR) 21.3% LOWER; reported Q3 EPS of $0.20, $0.08 worse than the analyst estimate of $0.28. Revenue for the quarter came in at $101.1 million versus the consensus estimate of $108.3 million. Sees FY2011 revenue of $435-$440 million, versus the consensus of $438.50 million.
interCLICK (Nasdaq: ICLK) 20.7% HIGHER; Yahoo! (Nasdaq: YHOO) to acquire interCLICK for $9/share.
General Cable Corp. (NYSE: BGC) 19.7% LOWER; reported Q3 EPS of $0.33, vs. the analyst estimate of $0.72. Revenue for the quarter came in at $1.52 billion versus the consensus estimate of $1.61 billion. Sees Q4 2011 revenue of $1.4-$1.45 billion, versus the consensus of $1.56 billion.
Radian Group, Inc. (NYSE: RDN) 18.7% HIGHER; reported Q3 EPS of $1.37, versus $0.84 reported last year. Revenue for the quarter came in at $508.05 million, versus $581.33 million reported last year.
Amedisys, Inc. (NASDAQ: AMED) 18.6% LOWER; reported Q3 EPS of $0.36, vs. the analyst estimate of $0.50. Revenue for the quarter came in at $374.9 million versus the consensus estimate of $372.06 million. Also named Ronald Laborde as the company's new President. Dale Redman will transition to the company's CFO. Mike Snow will be leaving from the COO position. Amedisys, Inc. sees FY2011 EPS of $1.90-$2.00, versus prior guidance of $2.20-$2.40 and the consensus of $2.30.
Rediff.com (Nasdaq: REDF) 18.5% LOWER; see Sify. The stock closed yesterday's session 44 percent higher.
Leap Wireless International, Inc. (NASDAQ: LEAP) 18.1% HIGHER; reported Q3 loss of $0.90, versus the analyst estimate of ($0.79). Revenue for the quarter came in at $76.3 million versus the consensus estimate of $763.63 million.
ING Groep (NYSE: ING) 14% LOWER; Eurobanks are once again selling off sharply as debt fears have moved back into the market with yesterday's news of Papandreou's proposed referendum.
NXP Semiconductors N.V. (NASDAQ: NXPI) 13.7% LOWER; reported Q3 EPS of $0.50, versus $0.39 reported last year. Revenue for the quarter came in at $970 million, versus $936 million reported last year. NXP Semiconductors N.V. sees Q4 2011 EPS of $0.20-$0.30. Product Revenue for the fourth quarter of 2011 is anticipated to be in a range of down 8 to14 percent sequentially as compared to the third quarter of 2011.
GeoEye, Inc. (NASDAQ: GEOY) 13.2% LOWER; reported Q3 EPS of $0.51, $0.05 worse than the analyst estimate of $0.56. Revenue for the quarter came in at $85.8 million versus the consensus estimate of $93.01 million. Now sees FY2011 EPS of $1.95-$2.15, versus the consensus of $2.19. Sees FY2011 revenue of $348-$355 million, versus the consensus of $369.56 million.
Rogers Corp. (NYSE: ROG) 11.7% LOWER; reported Q3 EPS of $0.81, $0.02 better than the analyst estimate of $0.79. Revenue for the quarter came in at $147.6 million versus the consensus estimate of $148.35 million.
Bank of Ireland (NYSE: IRE) 10.8% LOWER; see ING.
Akorn, Inc. (NASDAQ: AKRX) 10.6% HIGHER; reported Q3 EPS of $0.13, $0.06 better than the analyst estimate of $0.07. Revenue for the quarter came in at $36.6 million versus the consensus estimate of $33.1 million. Akorn, Inc. sees FY2011 revenue of $130-$132 million, versus the consensus of $124.51 million. The Company’s 2011 gross margin is projected to be approximately 57%.
Baker Hughes, Inc. (NYSE: BHI) 9.7% LOWER; reported Q3 EPS of $1.18, $0.03 worse than the analyst estimate of $1.21. Revenue for the quarter came in at $5.18 billion versus the consensus estimate of $5.17 billion.
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