Morning Movers 12/03: ICOC, KTCC, FFHL, GNBT, ABK, ISR Higher; PEIX, GRH, OPXA, TRGT, ALOY Lower
ICO, Inc. (NASDAQ: ICOC) 46.2% HIGHER; today announced the execution of a merger agreement with A. Schulman, Inc. (NASDAQ: SHLM). Terms of the deal are $3.67 in cash and $3.12 in A. Schulman (0.184 shares valued at the closing price on December 2, 2009). Also reported Q4 EPS of $0.06, even with the analyst estimate of $0.06. Revenue for the quarter was $ million, which compares to the estimate of $76.78 million.
Key Tronic Corp. (NASDAQ: KTCC) 29.7% HIGHER; updates guidance. The company sees Q210 revs of $42 - $44 million, versus $38 - $43 million prior. Also sees Q210 EPS of $0.10 - $0.13, up from $0.02 - $0.05 prior. There is no consensus for either estimate.
Fuwei Films Co. Limited (NASDAQ: FFHL) 21.9% HIGHER; today announced that its wholly owned subsidiary -- Fuwei Films (Shandong) Co. Ltd. recently received RMB 10 million financial support in the form of a loan from the local Chinese government. Click here for the full report.
Generex Biotech (Nasdaq: GNBT) 21.7% HIGHER; Published in the journal Diabetes, Obesity and Metabolism, an independent review of clinical trials of Generex Oral-lyn(TM) shows that the oral insulin spray has a faster onset of action and shorter duration of action than insulin delivered subcutaneously.
Ambac (NYSE: ABK) 19.7% HIGHER; Standard & Poor's raised its counterparty credit and financial enhancement ratings on Ambac Assurance Corp. to 'CC' from 'SD' (selective default). The firm also affirmed their 'CC' financial strength rating on Ambac and removed the rating from CreditWatch.
IsoRay, Inc. (AMEX: ISR) 19.4% HIGHER; announced today that it has signed a distribution agreement with Oncura to distribute the I-125 brachytherapy seed, OncoSeed.
Pacific Ethanol (Nasdaq: PEIX) 16.6% LOWER; correcting today following a more than 100% run-up from Friday of last week to Tuesday of this week.
GreenHunter (AMEX: GRH) 16.6% LOWER; profit taking today following a 88% rise over the last two trading sessions.
UTi Worldwide Inc. (NASDAQ: UTIW) 15.2% HIGHER; reports Q3 EPS of $0.18, versus the analyst estimate of $0.19. Revenue for the quarter was $967.2 million, which compares to the estimate of $888.57 million.
Energy Recovery, Inc. (NASDAQ: ERII) 13.7% HIGHER; today announced it has entered into a definitive agreement to acquire all of the equity interests of Pump Engineering, L.L.C. based in New Boston, Michigan. Under the terms of the agreement, ERI will pay the shareholders of Pump Engineering approximately $20 million in cash plus one million shares of ERI Common Stock. The completion of the transaction, which is subject to satisfaction of customary conditions, is expected to take place in the fourth quarter of 2009. The stock was also upgraded to Outperform at Baird.
Opexa Therapeutics (Nasdaq: OPXA) 13.5% LOWER; the stock surged more than 50% yesterday amid some interesting new hire news. Traders are likely taking profits today.
Targacept (NASDAQ: TRGT) 12.6% LOWER; AstraZeneca (NYSE: AZN) and Targacept today announced a collaboration and license agreement for the global development and commercialization of TC-5214, Targacept's late-stage investigational product for major depressive disorder (MDD). TC-5214, which recently completed a phase IIb clinical trial, is a nicotinic channel blocker that is thought to treat depression by modulating the activity of various neuronal nicotinic receptor (NNR) subtypes.
SeaChange International (NASDAQ: SEAC) 12.5% HIGHER; reports Q3 EPS of $0.11, ex-items, 5 cents better than the analyst estimate of $0.06. Revenue for the quarter was $53 million, which compares to the estimate of $51.56 million. Sees Q4 adj-EPS of $0.09-$0.13, which compares to the Street estimate of $0.08. Sees FY11 sales of $225-$235 million, versus the consensus of $227.82 million.
MGIC Investment Corporation (NYSE: MTG) 12% HIGHER; MGIC's principal subsidiary Mortgage Guaranty Insurance Corporation today announced that the Office of the Commissioner of Insurance for the State of Wisconsin has waived, until December 31, 2011, the requirement that MGIC maintain a specific level of minimum regulatory capital to write new mortgage guaranty policies. Click here to see the full report.
Alloy Inc. (Nasdaq: ALOY) 11.9% LOWER; reports Q3 EPS of $0.31, compared to $0.65 in the same quarter last year. Revenue for the quarter was $60.8 million, versus $69.9 million in Q308. Sees FY09 sales of $198-$203 million.
LeapFrog (NYSE: LF) 11.8% HIGHER; hearing that Stifel Nicolaus upgraded the stock from Hold to Buy.
The Children's Place Retail Stores, Inc. (Nasdaq: PLCE) 11.3% LOWER; Nov. comparable store sales declined 13% in the U.S. and declined 18% in Canada, while online sales declined 2%. The company reported net sales of $143.3 million for the four-week period ended November 28, 2009, a decrease of 9%.
Tandy Leather Factory (NYSE: TLF) 11.1% HIGHER; reports total sales for the month of November were $5.2 million, up 13% from the same period last year. Same store sales rose 18%.
Dyax (Nasdaq: DYAX) 10.8% LOWER; profit taking following yesterday's 20% rise amid FDA approval of KALBITOR(R).
Pier 1 Imports, Inc. (NYSE: PIR) 10.7% HIGHER; today reported that comparable store sales for the third quarter ended November 28, 2009 increased 13.7%. Total sales for the quarter aggregated $327 million compared to $301 million in the year ago quarter.
BioFuel (Nasdaq: BIOF) 10.4% LOWER; the stock jumped more than 80% on Tuesday and Wednesday (combined) amid speculation on ethanol stocks.
Seanergy Maritime Holdings Corp. (NASDAQ: SHIP) 9.1% HIGHER; announced today that it has issued 4,308,075 shares of the Company's common stock to affiliates of the Restis family following the Company's achievement of the earn-out provision contained in the acquisition agreement associated with the Company's 2008 business combination. In accordance with the earn-out, the Company agreed to issue additional shares to the Restis family affiliates if it attained certain earnings thresholds. Such thresholds were achieved and as a result the shares were issued.
Zumiez Inc. (NASDAQ: ZUMZ) 8.1% HIGHER; Nov comparable store sales decreased 8.5% for the four-week period, versus a comparable store sales decrease of 15.0% in the year ago period. Total net sales for the four-week period ended November 28, 2009 decreased 1.8% to $32.0 million, compared to $32.6 million for the four-week period ended November 29, 2008. The company's
To get this report daily, visit http://www.streetinsider.com/entities/Morning+Movers.
Key Tronic Corp. (NASDAQ: KTCC) 29.7% HIGHER; updates guidance. The company sees Q210 revs of $42 - $44 million, versus $38 - $43 million prior. Also sees Q210 EPS of $0.10 - $0.13, up from $0.02 - $0.05 prior. There is no consensus for either estimate.
Fuwei Films Co. Limited (NASDAQ: FFHL) 21.9% HIGHER; today announced that its wholly owned subsidiary -- Fuwei Films (Shandong) Co. Ltd. recently received RMB 10 million financial support in the form of a loan from the local Chinese government. Click here for the full report.
Generex Biotech (Nasdaq: GNBT) 21.7% HIGHER; Published in the journal Diabetes, Obesity and Metabolism, an independent review of clinical trials of Generex Oral-lyn(TM) shows that the oral insulin spray has a faster onset of action and shorter duration of action than insulin delivered subcutaneously.
Ambac (NYSE: ABK) 19.7% HIGHER; Standard & Poor's raised its counterparty credit and financial enhancement ratings on Ambac Assurance Corp. to 'CC' from 'SD' (selective default). The firm also affirmed their 'CC' financial strength rating on Ambac and removed the rating from CreditWatch.
IsoRay, Inc. (AMEX: ISR) 19.4% HIGHER; announced today that it has signed a distribution agreement with Oncura to distribute the I-125 brachytherapy seed, OncoSeed.
Pacific Ethanol (Nasdaq: PEIX) 16.6% LOWER; correcting today following a more than 100% run-up from Friday of last week to Tuesday of this week.
GreenHunter (AMEX: GRH) 16.6% LOWER; profit taking today following a 88% rise over the last two trading sessions.
UTi Worldwide Inc. (NASDAQ: UTIW) 15.2% HIGHER; reports Q3 EPS of $0.18, versus the analyst estimate of $0.19. Revenue for the quarter was $967.2 million, which compares to the estimate of $888.57 million.
Energy Recovery, Inc. (NASDAQ: ERII) 13.7% HIGHER; today announced it has entered into a definitive agreement to acquire all of the equity interests of Pump Engineering, L.L.C. based in New Boston, Michigan. Under the terms of the agreement, ERI will pay the shareholders of Pump Engineering approximately $20 million in cash plus one million shares of ERI Common Stock. The completion of the transaction, which is subject to satisfaction of customary conditions, is expected to take place in the fourth quarter of 2009. The stock was also upgraded to Outperform at Baird.
Opexa Therapeutics (Nasdaq: OPXA) 13.5% LOWER; the stock surged more than 50% yesterday amid some interesting new hire news. Traders are likely taking profits today.
Targacept (NASDAQ: TRGT) 12.6% LOWER; AstraZeneca (NYSE: AZN) and Targacept today announced a collaboration and license agreement for the global development and commercialization of TC-5214, Targacept's late-stage investigational product for major depressive disorder (MDD). TC-5214, which recently completed a phase IIb clinical trial, is a nicotinic channel blocker that is thought to treat depression by modulating the activity of various neuronal nicotinic receptor (NNR) subtypes.
SeaChange International (NASDAQ: SEAC) 12.5% HIGHER; reports Q3 EPS of $0.11, ex-items, 5 cents better than the analyst estimate of $0.06. Revenue for the quarter was $53 million, which compares to the estimate of $51.56 million. Sees Q4 adj-EPS of $0.09-$0.13, which compares to the Street estimate of $0.08. Sees FY11 sales of $225-$235 million, versus the consensus of $227.82 million.
MGIC Investment Corporation (NYSE: MTG) 12% HIGHER; MGIC's principal subsidiary Mortgage Guaranty Insurance Corporation today announced that the Office of the Commissioner of Insurance for the State of Wisconsin has waived, until December 31, 2011, the requirement that MGIC maintain a specific level of minimum regulatory capital to write new mortgage guaranty policies. Click here to see the full report.
Alloy Inc. (Nasdaq: ALOY) 11.9% LOWER; reports Q3 EPS of $0.31, compared to $0.65 in the same quarter last year. Revenue for the quarter was $60.8 million, versus $69.9 million in Q308. Sees FY09 sales of $198-$203 million.
LeapFrog (NYSE: LF) 11.8% HIGHER; hearing that Stifel Nicolaus upgraded the stock from Hold to Buy.
The Children's Place Retail Stores, Inc. (Nasdaq: PLCE) 11.3% LOWER; Nov. comparable store sales declined 13% in the U.S. and declined 18% in Canada, while online sales declined 2%. The company reported net sales of $143.3 million for the four-week period ended November 28, 2009, a decrease of 9%.
Tandy Leather Factory (NYSE: TLF) 11.1% HIGHER; reports total sales for the month of November were $5.2 million, up 13% from the same period last year. Same store sales rose 18%.
Dyax (Nasdaq: DYAX) 10.8% LOWER; profit taking following yesterday's 20% rise amid FDA approval of KALBITOR(R).
Pier 1 Imports, Inc. (NYSE: PIR) 10.7% HIGHER; today reported that comparable store sales for the third quarter ended November 28, 2009 increased 13.7%. Total sales for the quarter aggregated $327 million compared to $301 million in the year ago quarter.
BioFuel (Nasdaq: BIOF) 10.4% LOWER; the stock jumped more than 80% on Tuesday and Wednesday (combined) amid speculation on ethanol stocks.
Seanergy Maritime Holdings Corp. (NASDAQ: SHIP) 9.1% HIGHER; announced today that it has issued 4,308,075 shares of the Company's common stock to affiliates of the Restis family following the Company's achievement of the earn-out provision contained in the acquisition agreement associated with the Company's 2008 business combination. In accordance with the earn-out, the Company agreed to issue additional shares to the Restis family affiliates if it attained certain earnings thresholds. Such thresholds were achieved and as a result the shares were issued.
Zumiez Inc. (NASDAQ: ZUMZ) 8.1% HIGHER; Nov comparable store sales decreased 8.5% for the four-week period, versus a comparable store sales decrease of 15.0% in the year ago period. Total net sales for the four-week period ended November 28, 2009 decreased 1.8% to $32.0 million, compared to $32.6 million for the four-week period ended November 29, 2008. The company's
To get this report daily, visit http://www.streetinsider.com/entities/Morning+Movers.
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