Morning Movers 12/21: ATHX, CHTT, NTWK, QELP, BKRS, RFMI Higher; OGXI, GIGM, QTWW, ORBC Lower
Up)
Athersys, Inc. (Nasdaq: ATHX) 202% HIGHER; entered into an agreement with Pfizer Inc. (NYSE: PFE) to develop and commercialize MultiStem for the treatment of Inflammatory Bowel Disease. Click here to see the full report.
Chattem, Inc. (Nasdaq: CHTT) 32.8% HIGHER; Sanofi-aventis (NYSE: SNY) announced an agreement to acquire Chattem for $93.50 per share in cash, or approximately $1.9 billion. Click here to see the full report.
NetSol Technologies, Inc. (NASDAQ: NTWK) 25.3% HIGHER; today announced improved financial guidance expectations for the company's FY10: sales of $33-$35 million and a return to GAAP net income. Click here for the full report.
OncoGenex Pharmaceuticals, Inc. (NASDAQ: OGXI) 23.3% LOWER; Teva Pharmaceutical Industries Ltd. (NASDAQ: TEVA) and OncoGenex announced today that they have entered into a global license and collaboration agreement to develop and commercialize OGX-011, as well as an agreement to purchase shares in OncoGenex. Under the terms of the collaboration and share purchase agreements, Teva will provide OncoGenex with a $60 million initial cash payment, which includes a $10 million equity investment in OncoGenex common stock at a price of $37.38 per share, upfront payment of $20 million and prepayment of $30 million for OncoGenex's contribution to the development costs of OGX-011.
Quest Energy Partners, L.P. (Nasdaq: QELP) 22.4% HIGHER; today announced, along with Quest Resoruce corp. and Quest Midstream Partners, that they have entered into amendments to their respective credit agreements in a manner that allows for the closing of the proposed recombination of the Quest entities. See more from the release.
Bakers Footwear Group, Inc. (Nasdaq: BKRS) 22% HIGHER; received a Staff Deficiency letter from The Nasdaq Stock Market (Nasdaq) informing the Company that, based on the Company's Form 10-Q filed on December 9, 2009, the Company does not meet the $2,500,000 minimum stockholders' equity required for continued listing on The Nasdaq Capital Market (Capital Market) by Marketplace Rule 5550(b)(1). The Nasdaq letter has no immediate effect on the listing of the Company's common stock.
RF Monolithics (Nasdaq: RFMI) 19% HIGHER; could be correcting following Friday's 16% drop on a Q1 loss.
Quixote Corporation (Nasdaq: QUIX) 18.9% HIGHER; today announced that it has sold the stock of the companies comprising its Inform segment to Vaisala, Inc., a subsidiary of Vaisala Oyj, a global leader in environmental and industrial measurement systems, in an all cash transaction valued at $20 million. The Inform segment recorded revenue of $22.6 million, or 24% of total revenue, in fiscal 2009.
TreeHouse Foods (NYSE: THS) 13.2% HIGHER; announced today that it has signed a definitive agreement to acquire Sturm Foods, the leading private label manufacturer of hot cereal and powdered soft drink mixes, from HM Capital Partners LLC and other shareholders. The transaction is valued at $660 million, with closing expected by March 31, 2010. The company also is raising its FY09 EPS guidance from a range of $2.07 to $2.09 of adjusted earnings per share to $2.10 to $2.12, excluding one-time items and any costs associated with the Sturm transaction. The stock was also upgraded to Buy at Janney Montgomery Scott.
CTC Media, Inc. (NASDAQ: CTCM) 12.1% HIGHER; has entered into a voluntary agreement with its former Chief Executive Officer, President and non-executive Director, Alexander E. Rodnyansky, to settle the lawsuits filed by the Company in November 2009. All disputes between the parties have been resolved by the settlement.
Atrinsic (NASDAQ: ATRN) 11.1% HIGHER; announced today that Thomas Plotts has been appointed to the position of Interim Chief Financial Officer. The Company also announced that Andrew Zaref, the Company's Chief Financial Officer prior to the appointment of Mr. Plotts, has resigned from the Company.
GigaMedia Ltd. (NASDAQ: GIGM) 10.6% LOWER; reports Q3 non-GAAP loss of $0.03, versus the analyst estimate of $0.09. Revenue for the quarter was $37.2 million, which compares to the estimate of $42.71 million. GigaMedia also reports Q2 non-GAAP EPS of $0.01 and revenue for the quarter was $37.7 million.
City National (NYSE: CYN) 9.3% HIGHER; upgraded at both BMO and Maxim Group.
Omega Navigation Enterprises (Nasdaq: ONAV) 9.2% HIGHER; Cantor Fitzgerald upgrades ONAV from Sell to Hold. Price target $3. Click here for more color.
Quantum Fuel Systems Technologies Worldwide, Inc. (Nasdaq: QTWW) 9.1% LOWER; announced Friday that it received a letter from The Nasdaq Stock Market on December 14, 2009, notifying the Company that it is not in compliance with the Nasdaq Listing Rule 5250(c)(1) because it did not file its Quarterly Report on Form 10-Q for the fiscal quarter ended October 31, 2009 in a timely manner.
ORBCOMM (Nasdaq: ORBC) 9% LOWER; correcting today following a 24% rise over the last two trading sessions amid news that the company settled all Coast Guard distribution satellite claims.
To get this report daily, visit http://www.streetinsider.com/entities/Morning+Movers.
Chattem, Inc. (Nasdaq: CHTT) 32.8% HIGHER; Sanofi-aventis (NYSE: SNY) announced an agreement to acquire Chattem for $93.50 per share in cash, or approximately $1.9 billion. Click here to see the full report.
NetSol Technologies, Inc. (NASDAQ: NTWK) 25.3% HIGHER; today announced improved financial guidance expectations for the company's FY10: sales of $33-$35 million and a return to GAAP net income. Click here for the full report.
OncoGenex Pharmaceuticals, Inc. (NASDAQ: OGXI) 23.3% LOWER; Teva Pharmaceutical Industries Ltd. (NASDAQ: TEVA) and OncoGenex announced today that they have entered into a global license and collaboration agreement to develop and commercialize OGX-011, as well as an agreement to purchase shares in OncoGenex. Under the terms of the collaboration and share purchase agreements, Teva will provide OncoGenex with a $60 million initial cash payment, which includes a $10 million equity investment in OncoGenex common stock at a price of $37.38 per share, upfront payment of $20 million and prepayment of $30 million for OncoGenex's contribution to the development costs of OGX-011.
Quest Energy Partners, L.P. (Nasdaq: QELP) 22.4% HIGHER; today announced, along with Quest Resoruce corp. and Quest Midstream Partners, that they have entered into amendments to their respective credit agreements in a manner that allows for the closing of the proposed recombination of the Quest entities. See more from the release.
Bakers Footwear Group, Inc. (Nasdaq: BKRS) 22% HIGHER; received a Staff Deficiency letter from The Nasdaq Stock Market (Nasdaq) informing the Company that, based on the Company's Form 10-Q filed on December 9, 2009, the Company does not meet the $2,500,000 minimum stockholders' equity required for continued listing on The Nasdaq Capital Market (Capital Market) by Marketplace Rule 5550(b)(1). The Nasdaq letter has no immediate effect on the listing of the Company's common stock.
RF Monolithics (Nasdaq: RFMI) 19% HIGHER; could be correcting following Friday's 16% drop on a Q1 loss.
Quixote Corporation (Nasdaq: QUIX) 18.9% HIGHER; today announced that it has sold the stock of the companies comprising its Inform segment to Vaisala, Inc., a subsidiary of Vaisala Oyj, a global leader in environmental and industrial measurement systems, in an all cash transaction valued at $20 million. The Inform segment recorded revenue of $22.6 million, or 24% of total revenue, in fiscal 2009.
TreeHouse Foods (NYSE: THS) 13.2% HIGHER; announced today that it has signed a definitive agreement to acquire Sturm Foods, the leading private label manufacturer of hot cereal and powdered soft drink mixes, from HM Capital Partners LLC and other shareholders. The transaction is valued at $660 million, with closing expected by March 31, 2010. The company also is raising its FY09 EPS guidance from a range of $2.07 to $2.09 of adjusted earnings per share to $2.10 to $2.12, excluding one-time items and any costs associated with the Sturm transaction. The stock was also upgraded to Buy at Janney Montgomery Scott.
CTC Media, Inc. (NASDAQ: CTCM) 12.1% HIGHER; has entered into a voluntary agreement with its former Chief Executive Officer, President and non-executive Director, Alexander E. Rodnyansky, to settle the lawsuits filed by the Company in November 2009. All disputes between the parties have been resolved by the settlement.
Atrinsic (NASDAQ: ATRN) 11.1% HIGHER; announced today that Thomas Plotts has been appointed to the position of Interim Chief Financial Officer. The Company also announced that Andrew Zaref, the Company's Chief Financial Officer prior to the appointment of Mr. Plotts, has resigned from the Company.
GigaMedia Ltd. (NASDAQ: GIGM) 10.6% LOWER; reports Q3 non-GAAP loss of $0.03, versus the analyst estimate of $0.09. Revenue for the quarter was $37.2 million, which compares to the estimate of $42.71 million. GigaMedia also reports Q2 non-GAAP EPS of $0.01 and revenue for the quarter was $37.7 million.
City National (NYSE: CYN) 9.3% HIGHER; upgraded at both BMO and Maxim Group.
Omega Navigation Enterprises (Nasdaq: ONAV) 9.2% HIGHER; Cantor Fitzgerald upgrades ONAV from Sell to Hold. Price target $3. Click here for more color.
Quantum Fuel Systems Technologies Worldwide, Inc. (Nasdaq: QTWW) 9.1% LOWER; announced Friday that it received a letter from The Nasdaq Stock Market on December 14, 2009, notifying the Company that it is not in compliance with the Nasdaq Listing Rule 5250(c)(1) because it did not file its Quarterly Report on Form 10-Q for the fiscal quarter ended October 31, 2009 in a timely manner.
ORBCOMM (Nasdaq: ORBC) 9% LOWER; correcting today following a 24% rise over the last two trading sessions amid news that the company settled all Coast Guard distribution satellite claims.
To get this report daily, visit http://www.streetinsider.com/entities/Morning+Movers.
You May Also Be Interested In
- Morning Movers 05/25: (GNOM) (UPI) (EJ) Higher; (DCTH) (TLB) (GENE) Lower
- Pre-Open Movers 5/25: (BLOX) (FRO) (QSFT) Higher; (TLB) (ROSG) (DCTH) Lower (more...)
- After-Hours Movers 05/24: (BLOX) (DLPH) (CHK) Higher; (PAY) (NYMT) (SMTC) Lower
Create E-mail Alert Related Categories
Special ReportsRelated Entities
Cantor Fitzgerald, Janney Montgomery Scott, Maxim Group, Morning MoversSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
