Morning Movers 12/09: (BCSI) (FLOW) (SIGA) (DMND) Higher; (PCYC) (CTIC) (SPPI) Lower

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BCSI Hot Sheet

Overall Analyst Rating:
NEUTRAL (

Blue Coat (Nasdaq: BCSI) 44.2% HIGHER; holders to get $25.81/share in cash from PE firm Thoma Bravo.

Flow International Corp (NASDAQ: FLOW) 39.7% HIGHER; reported Q2 EPS of $0.06, $0.05 better than the analyst estimate of $0.01. Revenue for the quarter came in at $64.5 million versus the consensus estimate of $60.42 million.

SIGA Technologies (Nasdaq: SIGA) 26% HIGHER; bouncing over the $2 level today.

Diamond Foods (Nasdaq: DMND) 21.5% HIGHER; a KeyBanc analyst issued a research note this morning suggested a probe of Diamond Foods will show payments were properly accounted for.

McClatchy (NYSE: MNI) 18% HIGHER; continuing to move higher following a 62 percent surge on Wednesday amid improved ad revs and thus strong FY12 guidance. The stock sold off by nearly 10 percent yesterday as traders took profits.

Pharmacyclics, Inc. (Nasdaq: PCYC) 14.9% LOWER; has entered into a worldwide collaboration with Janssen Biotech, Inc., one of the Janssen Pharmaceutical Companies of Johnson & Johnson (NYSE: JNJ), to develop and commercialize PCI-32765, a novel, oral, first-in-class Bruton's tyrosine kinase (Btk) inhibitor being developed for the treatment of Non Hodgkin's Lymphoma, Chronic Lymphocytic Leukemia and Multiple Myeloma, all of which are considered hematological malignancies. PCI-32765 was developed by Pharmacyclics and is currently in Phase II clinical trials. Under the terms of the agreement, Pharmacyclics will receive an upfront payment of $150 million. In addition, Pharmacyclics will receive up to an additional $825 million in development and regulatory milestone payments, based upon continued development, regulatory progress and approval of the product, for total potential upfront and milestone payments of $975 million. The stock was also downgraded at RBC and Global Hunter this morning.

Cooper Cos. (NYSE: COO) 14.4% HIGHER; reported Q4 EPS of $1.46, $0.24 better than the analyst estimate of $1.22. Revenue for the quarter came in at $360.9 million versus the consensus estimate of $356.93 million. Sees FY2012 EPS of $4.80-$5.00, versus the consensus of $4.66. Sees FY2012 revenue of $1.39-$1.44 billion, versus the consensus of $1.42 billion.

Cell Therapeutics, Inc. (Nasdaq: CTIC) 13.8% LOWER; has entered into an agreement to sell, subject to customary closing conditions, $20 million of shares of its Series 14 Preferred Stock and warrants to purchase shares of its common stock in a registered offering to two institutional investors. Each share of Series 14 Preferred Stock is convertible at the option of the holder, at any time during its existence, into approximately 870 shares of common stock at a conversion price of $1.15 per share of common stock, for a total of approximately 17,391,304 shares of common stock.

Quantum Fuel Systems (NASDAQ: QTWW) 10.7% HIGHER; reported Q2 EPS of ($0.53), versus ($0.15) reported last year. Revenue for the quarter came in at $13.02 million, versus $3.9 million reported last year.

Pall Corp. (NYSE: PLL) 10.4% HIGHER; reported Q1 EPS of $0.59, $0.06 worse than the analyst estimate of $0.65. Revenue for the quarter came in at $705.6 million versus the consensus estimate of $647.99 million.

Spectrum Pharma (Nasdaq: SPPI) 8.4% LOWER; shares are tumbling in early-morning trade following an FDA notice which discloses an unidentified generic company has applied to sell copies of Suilev injections.

Invesco Mortgage (NYSE: IVR) 7.2% LOWER; last night lowered its quarterly dividend to $0.65. This morning JMP downgraded the stock.

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