Morning Movers 12/09: RNWK, EFJI, S, HITK, VCI, COO Higher; ECA, RGEN, MOV, MW, PLAB Lower
ECA Hot Sheet
Overall Analyst Rating:NEUTRAL (= Flat)
Dividend Yield: 3.9%
Revenue Growth %: -100.0%
EnCana Corporation (NYSE: ECA) 45.2% LOWER; has received approval for renewal of the company's Normal Course Issuer Bid from the Toronto Stock Exchange. Under the renewed bid, EnCana may purchase for cancellation up to 37,500,000 of its common shares, representing about five percent of the approximately 751,276,027 common shares issued and outstanding as at November 30, 2009. EnCana plans to fund its share purchases under the renewed bid from cash, cash flow and the proceeds from potential dispositions. EnCana believes that, depending on the trading price of its shares and other factors, the purchase and cancellation of some of the company's common shares is a worthwhile investment and in the best interests of EnCana and its shareholders.
Repligen Corporation (NASDAQ: RGEN) 20.9% LOWER; reported today top-line results from a Phase 3 clinical trial to evaluate the safety and efficacy of RG1068, synthetic human secretin, to improve magnetic resonance imaging of the pancreas in patients with a history of pancreatitis. Click here to see the full report.
RealNetworks, Inc. (NASDAQ: RNWK) 19.7% HIGHER; On December 4, 2009, the Arbitrator in the arbitration action between RealNetworks and VeriSign, Inc. (NASDAQ: VRSN) issued his "Full and Final Reasoned Award" disposing of all claims pending in the arbitration. In the Final Award, the Arbitrator concluded that RealNetworks is not responsible for any damages to VeriSign. In addition, the Arbitrator reversed his prior determination that RealNetworks committed acts of tortious interference with existing and prospective business relationships and he dismissed VeriSign’s related tortious interference claims. Finally, the Arbitrator determined that VeriSign failed to prove that RealNetworks’ conduct related to VeriSign’s proposed sale of certain business units proximately caused VeriSign any measurable damages. The stock was also upgraded to Neutral at JPMorgan.
Movado Group Inc. (NYSE: MOV) 16.2% LOWER; reports Q3 adjusted EPS of $0.12, cents better than the analyst estimate of $0.65. Revenue for the quarter was $129 million, which compares to the estimate of $141.20 million. Sees FY10 GAAP Loss of $1.40 - $1.50. Consensus is for a profit of $0.55.
EF Johnson Technologies, Inc. (Nasdaq: EFJI) 14.4% HIGHER; has been named as one of several contractors under a contract issued by the U.S. IRS. The contract is an indefinite delivery/indefinite quantity contract which allows various federal government agencies to purchase P25 digital two-way radios and related equipment from time to time from a select group of companies, including EF Johnson Technologies, Inc. The maximum total value of the five-year contract is $750 million; however, the contract does not specify purchase dates or quantities of equipment from any specific contractor.
The Men's Warehouse (NYSE: MW) 12.8% LOWER; reports Q3 EPS of $0.37, 4 cents better than the analyst estimate of $0.33. Revenue for the quarter was $462 million, which compares to the estimate of $454.5 million. Sees Q4 GAAP Loss of $0.15 - $0.19. Comps down 2%.
Sprint (NYSE: S) 12.2% HIGHER; upgraded to Buy at Citi.
Hi-Tech Pharmacal Co., Inc. (NASDAQ: HITK) 11.5% HIGHER; reports Q2 EPS of $0.60 vs. consensus of $0.32 (NOTE - only 1 analyst covers stocks). Revenues were $40.9 million vs. $33.00 million consensus. Click here for the full report.
Photronics, Inc. (Nasdaq: PLAB) 11.2% LOWER; reports a Q4 loss of $0.07, in-line with estimates. Revenues were $94.7 million vs. $97.23 million consensus.
Valassis (NYSE: VCI) 10.7% HIGHER; today provided financial guidance for full-year 2010, expecting adjusted EBITDA of approximately $280 million. In 2010, we expect capital expenditures to be $25 million, resulting in expected diluted cash earnings per share (EPS) of $2.48. Management believes that adjusted EBITDA and diluted cash EPS are the most relevant performance measurement criteria for our business.
Comarco, Inc. (Nasdaq: CMRO) 10.2% LOWER; reports a Q3 loss of $0.06, 4 cents worse than estimates. Revenue for the third quarter of fiscal 2010 was $7.6 million vs. $8.49 million consensus.
The Cooper Companies, Inc. (NYSE: COO) 10.1% HIGHER; reports Q4 adjusted EPS of $0.67, even with the analyst estimate of $0.67. Revenue for the quarter was $283.5 million, which compares to the estimate of $278.58 million. Sees FY10 sales $1.10 - $1.16 billion, versus $113 billion consensus. And FY10 EPS of $2.45 - $2.55, versus $2.45 consensus. The stock was also upgraded to Outperform at Wells Fargo.
Regenerx BioPharma (Amex: RGN) 10% HIGHER; announced today that it has completed and analyzed the safety data from its double-blind, placebo controlled Phase I clinical trial evaluating the systemic administration of RGN-352. The trial included testing of a single escalating intravenous dose of the drug candidate on forty healthy volunteers in Phase IA and, subsequently, over a fourteen-day treatment period on forty volunteers in Phase IB. There were no adverse events judged to be associated with administration of RGN-352, which was deemed to be well-tolerated. The results of the trial will be published in the Annals of the New York Academy of Sciences, and a clinical study report will be forwarded to the FDA. RGN-352 is an injectable formulation of thymosin beta 4 (Tb4) peptide.
Orleans Homebuilders, Inc. (Amex: OHB) 9.7% HIGHER; announced today that on December 3, 2009, the Company agreed to a non-binding term sheet relating to a maturity extension and structural modification of the Company's $375 million Second Amended and Restated Revolving Credit Loan Agreement dated September 30, 2008. The Company currently anticipates that the formal documentation relating to the Amendment will be completed, executed and become effective on or before January 29, 2010.
Bakers Footwear Group Inc. (NASDAQ: BKRS) 9.3% LOWER; reports Q3 loss of $1.38, compared to ($1.18) in the same quarter last year. Revenue for the quarter was $39.04 million, versus $41.08 million in Q308.
Comtech Telecommunications Corp. (Nasdaq: CMTL) 9% HIGHER; reports Q1 EPS of $0.30, 8 cents better than the analyst estimate of $0.22. Revenue for the quarter was $133.8 million, which compares to the estimate of $125.52 million.
Netlist (Nasdaq: NLST) 8.9% HIGHER; continuing higher following yesterday's nearly 17% jump.
NCI Building Systems, Inc. (NYSE: NCS) 8.9% LOWER; reports Q4 loss of $3.59, compared to $1.27 in the same quarter last year. Revenue for the quarter was $244.4 million, which compares to the estimate of $330.81 million.
Atrinsic (Nasdaq: ATRN) 8.8% LOWER; continuing lower today following yesterday's 10% plunge amid news that a major customer will stop using the company's services.
To get this report daily, visit http://www.streetinsider.com/entities/Morning+Movers.
Repligen Corporation (NASDAQ: RGEN) 20.9% LOWER; reported today top-line results from a Phase 3 clinical trial to evaluate the safety and efficacy of RG1068, synthetic human secretin, to improve magnetic resonance imaging of the pancreas in patients with a history of pancreatitis. Click here to see the full report.
RealNetworks, Inc. (NASDAQ: RNWK) 19.7% HIGHER; On December 4, 2009, the Arbitrator in the arbitration action between RealNetworks and VeriSign, Inc. (NASDAQ: VRSN) issued his "Full and Final Reasoned Award" disposing of all claims pending in the arbitration. In the Final Award, the Arbitrator concluded that RealNetworks is not responsible for any damages to VeriSign. In addition, the Arbitrator reversed his prior determination that RealNetworks committed acts of tortious interference with existing and prospective business relationships and he dismissed VeriSign’s related tortious interference claims. Finally, the Arbitrator determined that VeriSign failed to prove that RealNetworks’ conduct related to VeriSign’s proposed sale of certain business units proximately caused VeriSign any measurable damages. The stock was also upgraded to Neutral at JPMorgan.
Movado Group Inc. (NYSE: MOV) 16.2% LOWER; reports Q3 adjusted EPS of $0.12, cents better than the analyst estimate of $0.65. Revenue for the quarter was $129 million, which compares to the estimate of $141.20 million. Sees FY10 GAAP Loss of $1.40 - $1.50. Consensus is for a profit of $0.55.
EF Johnson Technologies, Inc. (Nasdaq: EFJI) 14.4% HIGHER; has been named as one of several contractors under a contract issued by the U.S. IRS. The contract is an indefinite delivery/indefinite quantity contract which allows various federal government agencies to purchase P25 digital two-way radios and related equipment from time to time from a select group of companies, including EF Johnson Technologies, Inc. The maximum total value of the five-year contract is $750 million; however, the contract does not specify purchase dates or quantities of equipment from any specific contractor.
The Men's Warehouse (NYSE: MW) 12.8% LOWER; reports Q3 EPS of $0.37, 4 cents better than the analyst estimate of $0.33. Revenue for the quarter was $462 million, which compares to the estimate of $454.5 million. Sees Q4 GAAP Loss of $0.15 - $0.19. Comps down 2%.
Sprint (NYSE: S) 12.2% HIGHER; upgraded to Buy at Citi.
Hi-Tech Pharmacal Co., Inc. (NASDAQ: HITK) 11.5% HIGHER; reports Q2 EPS of $0.60 vs. consensus of $0.32 (NOTE - only 1 analyst covers stocks). Revenues were $40.9 million vs. $33.00 million consensus. Click here for the full report.
Photronics, Inc. (Nasdaq: PLAB) 11.2% LOWER; reports a Q4 loss of $0.07, in-line with estimates. Revenues were $94.7 million vs. $97.23 million consensus.
Valassis (NYSE: VCI) 10.7% HIGHER; today provided financial guidance for full-year 2010, expecting adjusted EBITDA of approximately $280 million. In 2010, we expect capital expenditures to be $25 million, resulting in expected diluted cash earnings per share (EPS) of $2.48. Management believes that adjusted EBITDA and diluted cash EPS are the most relevant performance measurement criteria for our business.
Comarco, Inc. (Nasdaq: CMRO) 10.2% LOWER; reports a Q3 loss of $0.06, 4 cents worse than estimates. Revenue for the third quarter of fiscal 2010 was $7.6 million vs. $8.49 million consensus.
The Cooper Companies, Inc. (NYSE: COO) 10.1% HIGHER; reports Q4 adjusted EPS of $0.67, even with the analyst estimate of $0.67. Revenue for the quarter was $283.5 million, which compares to the estimate of $278.58 million. Sees FY10 sales $1.10 - $1.16 billion, versus $113 billion consensus. And FY10 EPS of $2.45 - $2.55, versus $2.45 consensus. The stock was also upgraded to Outperform at Wells Fargo.
Regenerx BioPharma (Amex: RGN) 10% HIGHER; announced today that it has completed and analyzed the safety data from its double-blind, placebo controlled Phase I clinical trial evaluating the systemic administration of RGN-352. The trial included testing of a single escalating intravenous dose of the drug candidate on forty healthy volunteers in Phase IA and, subsequently, over a fourteen-day treatment period on forty volunteers in Phase IB. There were no adverse events judged to be associated with administration of RGN-352, which was deemed to be well-tolerated. The results of the trial will be published in the Annals of the New York Academy of Sciences, and a clinical study report will be forwarded to the FDA. RGN-352 is an injectable formulation of thymosin beta 4 (Tb4) peptide.
Orleans Homebuilders, Inc. (Amex: OHB) 9.7% HIGHER; announced today that on December 3, 2009, the Company agreed to a non-binding term sheet relating to a maturity extension and structural modification of the Company's $375 million Second Amended and Restated Revolving Credit Loan Agreement dated September 30, 2008. The Company currently anticipates that the formal documentation relating to the Amendment will be completed, executed and become effective on or before January 29, 2010.
Bakers Footwear Group Inc. (NASDAQ: BKRS) 9.3% LOWER; reports Q3 loss of $1.38, compared to ($1.18) in the same quarter last year. Revenue for the quarter was $39.04 million, versus $41.08 million in Q308.
Comtech Telecommunications Corp. (Nasdaq: CMTL) 9% HIGHER; reports Q1 EPS of $0.30, 8 cents better than the analyst estimate of $0.22. Revenue for the quarter was $133.8 million, which compares to the estimate of $125.52 million.
Netlist (Nasdaq: NLST) 8.9% HIGHER; continuing higher following yesterday's nearly 17% jump.
NCI Building Systems, Inc. (NYSE: NCS) 8.9% LOWER; reports Q4 loss of $3.59, compared to $1.27 in the same quarter last year. Revenue for the quarter was $244.4 million, which compares to the estimate of $330.81 million.
Atrinsic (Nasdaq: ATRN) 8.8% LOWER; continuing lower today following yesterday's 10% plunge amid news that a major customer will stop using the company's services.
To get this report daily, visit http://www.streetinsider.com/entities/Morning+Movers.
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