Morning Movers 12/02: (MITL) (NCTY) (NM) (ZUMZ) Higher; (RIMM) (BIG) (HRB) Lower
Up)
Mitel Networks Corporation (NASDAQ: MITL) 25.6% HIGHER; reported Q2 EPS of $0.24, $0.07 better than the analyst estimate of $0.17. Revenue for the quarter came in at $168.8 million versus the consensus estimate of $166.02 million.
The9 Limited (Nasdaq: NCTY) 20.5% HIGHER; after breaking through resistance at $5 on Monday, the stock is pushing above the $6 level today. Volume is very heavy.
Navios Maritime (NYSE: NM) 20.4% HIGHER; JPMorgan initiated coverage on the stock with an Overweight rating and a $7.60 price target. Entire drybulk sector moving higher today.
Zumiez, Inc. (NASDAQ: ZUMZ) 18.6% HIGHER; reported Q3 EPS of $0.45, $0.03 better than the analyst estimate of $0.42. Revenue for the quarter came in at $154 million versus the consensus estimate of $153.06 million. Reports November same-store sales rose 8.4 percent, sharply better than an expected 3.1 percent. Q3 same-store sales rose 6 percent. Sees Q4 EPS 52-54c, vs. the consensus of 52c. See sales $174-$177 million, which compares to the Street estimate of $173.6 million. Sees same-store sales up mid single digit range.
Alexander & Baldwin, Inc. (NYSE: ALEX) 14.9% HIGHER; today announced that its Board of Directors has unanimously approved a plan to pursue the separation of the Company to create two independent, publicly traded companies: A premier Hawaii-based land company (A&B) with interests in real estate development, commercial real estate and agriculture, which will retain the Alexander & Baldwin, Inc. name; and Matson, a market-leading ocean transportation company serving the U.S. West Coast, Hawaii, Guam, Micronesia and China, and a top ten domestic logistics company.
Eagle Bulk Shipping (Nasdaq: EGLE) 13.6% HIGHER; moving higher with the entire drybulk group this morning.
Celsion (Nasdaq: CLSN) 11.8% HIGHER; finally catching a bid today (over the last 12 trading session, the stock closed higher only once, falling about 38 percent. A holder, Mangrove Partners, filed a 13D showing a 7.85 percent. The fund wants Celsion's Board to explore strategic options.
Western Digital Corp. (NYSE: WDC) 10.8% HIGHER; For the December quarter, the company now expects revenue of at least $1.8 billion and gross margins above the high end of its business model range of 18 percent to 23 percent, and operating expenses of approximately $265 million, exclusive of unusual charges related to the floods, acquisition-related expenses and litigation. The Street sees revenue of $1.2 billion, and WDC guided to revs of $1.05 to $1.25 billion last quarter. Unusual charges related to the floods are expected to be in the range of $225 million to $275 million for the December quarter, exclusive of any insurance recovery. Click here to see the full report.
Barnes & Noble (NYSE: BKS) 9.9% HIGHER; traders buying the dip today following a 16 percent decline yesterday amid earnings. Maxim started the stock at Buy this morning. Click here to see the full report.
Research In Motion (Nasdaq: RIMM) 9.4% LOWER; announced that it would record a pre-tax provision in the third quarter of fiscal 2012 of approximately $485 million, $360 million after tax, related to its inventory valuation of BlackBerry PlayBook tablets. Click here to see the full report.
Big Lots, Inc. (NYSE: BIG) 9.1% LOWER; reported Q3 EPS of $0.17, $0.08 better than the analyst estimate of $0.09. Revenue for the quarter came in at $1.14 billion versus the consensus estimate of $1.13 billion. Comparable store sales for U.S. stores increased 1.7%. Big Lots, Inc. sees FY2011 EPS of $2.85-$2.92, versus prior guidance of $2.80-$2.90 and the consensus of $2.90. Big Lots, Inc. sees Q4 2011 EPS of $1.59-$1.66, versus the consensus of $1.63.
H&R Block, Inc. (NYSE: HRB) 8.7% LOWER; reported Q2 EPS of ($0.38), $0.04 worse than the analyst estimate of ($0.34). Revenue for the quarter came in at $129.19 million, versus $119.59 million reported last year.
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The9 Limited (Nasdaq: NCTY) 20.5% HIGHER; after breaking through resistance at $5 on Monday, the stock is pushing above the $6 level today. Volume is very heavy.
Navios Maritime (NYSE: NM) 20.4% HIGHER; JPMorgan initiated coverage on the stock with an Overweight rating and a $7.60 price target. Entire drybulk sector moving higher today.
Zumiez, Inc. (NASDAQ: ZUMZ) 18.6% HIGHER; reported Q3 EPS of $0.45, $0.03 better than the analyst estimate of $0.42. Revenue for the quarter came in at $154 million versus the consensus estimate of $153.06 million. Reports November same-store sales rose 8.4 percent, sharply better than an expected 3.1 percent. Q3 same-store sales rose 6 percent. Sees Q4 EPS 52-54c, vs. the consensus of 52c. See sales $174-$177 million, which compares to the Street estimate of $173.6 million. Sees same-store sales up mid single digit range.
Alexander & Baldwin, Inc. (NYSE: ALEX) 14.9% HIGHER; today announced that its Board of Directors has unanimously approved a plan to pursue the separation of the Company to create two independent, publicly traded companies: A premier Hawaii-based land company (A&B) with interests in real estate development, commercial real estate and agriculture, which will retain the Alexander & Baldwin, Inc. name; and Matson, a market-leading ocean transportation company serving the U.S. West Coast, Hawaii, Guam, Micronesia and China, and a top ten domestic logistics company.
Eagle Bulk Shipping (Nasdaq: EGLE) 13.6% HIGHER; moving higher with the entire drybulk group this morning.
Celsion (Nasdaq: CLSN) 11.8% HIGHER; finally catching a bid today (over the last 12 trading session, the stock closed higher only once, falling about 38 percent. A holder, Mangrove Partners, filed a 13D showing a 7.85 percent. The fund wants Celsion's Board to explore strategic options.
Western Digital Corp. (NYSE: WDC) 10.8% HIGHER; For the December quarter, the company now expects revenue of at least $1.8 billion and gross margins above the high end of its business model range of 18 percent to 23 percent, and operating expenses of approximately $265 million, exclusive of unusual charges related to the floods, acquisition-related expenses and litigation. The Street sees revenue of $1.2 billion, and WDC guided to revs of $1.05 to $1.25 billion last quarter. Unusual charges related to the floods are expected to be in the range of $225 million to $275 million for the December quarter, exclusive of any insurance recovery. Click here to see the full report.
Barnes & Noble (NYSE: BKS) 9.9% HIGHER; traders buying the dip today following a 16 percent decline yesterday amid earnings. Maxim started the stock at Buy this morning. Click here to see the full report.
Research In Motion (Nasdaq: RIMM) 9.4% LOWER; announced that it would record a pre-tax provision in the third quarter of fiscal 2012 of approximately $485 million, $360 million after tax, related to its inventory valuation of BlackBerry PlayBook tablets. Click here to see the full report.
Big Lots, Inc. (NYSE: BIG) 9.1% LOWER; reported Q3 EPS of $0.17, $0.08 better than the analyst estimate of $0.09. Revenue for the quarter came in at $1.14 billion versus the consensus estimate of $1.13 billion. Comparable store sales for U.S. stores increased 1.7%. Big Lots, Inc. sees FY2011 EPS of $2.85-$2.92, versus prior guidance of $2.80-$2.90 and the consensus of $2.90. Big Lots, Inc. sees Q4 2011 EPS of $1.59-$1.66, versus the consensus of $1.63.
H&R Block, Inc. (NYSE: HRB) 8.7% LOWER; reported Q2 EPS of ($0.38), $0.04 worse than the analyst estimate of ($0.34). Revenue for the quarter came in at $129.19 million, versus $119.59 million reported last year.
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