Morning Movers 12/21: LCRD, MATK, JTX, EPCT, AMED, GSI Higher; CPY, ORN, KNDI, BASI, ARNA, PPHM, BBX Lower
LaserCard (Nasdaq: LCRD) 39.3% HIGHER; to be acquired by ASSA ABLOY for $6.25/share. Click here to see the full report.
Martek Biosciences (Nasdaq: MATK) 35.1% HIGHER; announced plans to be acquired by DSM for $31.50 per share in cash, or $1.087 billion. The agreed price represents a premium of 35% to Martek's closing share price of US$23.36 on December 20, 2010.
CPI Corp. (NYSE: CPY) 24.9% LOWER; reports Q3 adjusted loss of $0.75, versus the analyst estimate of ($1.28). Revenue for the quarter came in at $106.2 million, versus the consensus estimate of $104.20 million. Comps down 10%.
Orion Marine Group, Inc. (NYSE: ORN) 22.7% LOWER; announced the following revised outlook. They see a material charge in Q410 revs and EBITDA. They're also lowering their FY10 revs outlook from $360 - $370 million to $345 - $355 million, and FY11 EBITDA margin goal from 16% - 18% to 14% - 16%. Consensus is looking for FY10 revs of $364.55 million.
Kandi Technologies, Corp. (Nasdaq: KNDI) 18.1% LOWER; announced that they have entered into a Securities Purchase Agreement calling for the issuance of 3,027,272 shares of common stock at a price of $5.50 per share, for an aggregate gain of about $16.6 million.
Bioanalytical Systems (Nasdaq: BASI) 17.6% LOWER; correcting today following five straight days of upside. Over this period, the stock surged a whopping 118%. Traders likely taking profits this morning.
Arena Pharma (Nasdaq: ARNA) 13% LOWER; shares are up more than 50% since Friday as traders await an FDA meeting on its lorcaserin product.
Peregrine Pharma (Nasdaq: PPHM) 12.6% LOWER; correcting today on very heavy volume. Shares rallied above the $2 level yesterday, pushing about 34% higher.
Jackson Hewit Tax Service (NYSE: JTX) 12.3% HIGHER; continuing higher following a 12% surge on Friday and a 22% rise yesterday. The stock has more than doubled since the beginning of December.
EpiCept Corporation (Nasdaq: EPCT) 11.8% HIGHER; today announced that the Israeli Ministry of Health has approved the marketing application for Ceplene®, indicated for remission maintenance and prevention of relapse in adult patients with Acute Myeloid Leukemia in first remission.
BankAtlantic (NYSE: BBX) 11.6% LOWER; traders continuing to sell today following a 68% rise on Wednesday, Thursday and Friday of last week. The stock surged amid speculation that PNC Financial (NYSE: PNC) could be looking to takeover the bank.
CarMax (NYSE: KMX) 9.9% LOWER; reports Q3 EPS of $0.36, 2 cents better than the analyst estimate of $0.34. Revenue for the quarter was $2.12 billion, which compares to the estimate of $1.96 billion.
Amedisys (NASDAQ: AMED) 9% HIGHER; Deutsche Bank upgraded the stock to Buy. PT $39.
General Steel (NYSE: GSI) 8.2% HIGHER; to buyback up to 1 million shares of its common stock.
Skechers USA (NYSE: SKX) 8.2% LOWER; Sterne Agee downgraded the stock from Buy to Sell. PT lowered from $30 to $16.
Get This Report Daily Here: http://www.streetinsider.com/entities/Morning+Movers.
Martek Biosciences (Nasdaq: MATK) 35.1% HIGHER; announced plans to be acquired by DSM for $31.50 per share in cash, or $1.087 billion. The agreed price represents a premium of 35% to Martek's closing share price of US$23.36 on December 20, 2010.
CPI Corp. (NYSE: CPY) 24.9% LOWER; reports Q3 adjusted loss of $0.75, versus the analyst estimate of ($1.28). Revenue for the quarter came in at $106.2 million, versus the consensus estimate of $104.20 million. Comps down 10%.
Orion Marine Group, Inc. (NYSE: ORN) 22.7% LOWER; announced the following revised outlook. They see a material charge in Q410 revs and EBITDA. They're also lowering their FY10 revs outlook from $360 - $370 million to $345 - $355 million, and FY11 EBITDA margin goal from 16% - 18% to 14% - 16%. Consensus is looking for FY10 revs of $364.55 million.
Kandi Technologies, Corp. (Nasdaq: KNDI) 18.1% LOWER; announced that they have entered into a Securities Purchase Agreement calling for the issuance of 3,027,272 shares of common stock at a price of $5.50 per share, for an aggregate gain of about $16.6 million.
Bioanalytical Systems (Nasdaq: BASI) 17.6% LOWER; correcting today following five straight days of upside. Over this period, the stock surged a whopping 118%. Traders likely taking profits this morning.
Arena Pharma (Nasdaq: ARNA) 13% LOWER; shares are up more than 50% since Friday as traders await an FDA meeting on its lorcaserin product.
Peregrine Pharma (Nasdaq: PPHM) 12.6% LOWER; correcting today on very heavy volume. Shares rallied above the $2 level yesterday, pushing about 34% higher.
Jackson Hewit Tax Service (NYSE: JTX) 12.3% HIGHER; continuing higher following a 12% surge on Friday and a 22% rise yesterday. The stock has more than doubled since the beginning of December.
EpiCept Corporation (Nasdaq: EPCT) 11.8% HIGHER; today announced that the Israeli Ministry of Health has approved the marketing application for Ceplene®, indicated for remission maintenance and prevention of relapse in adult patients with Acute Myeloid Leukemia in first remission.
BankAtlantic (NYSE: BBX) 11.6% LOWER; traders continuing to sell today following a 68% rise on Wednesday, Thursday and Friday of last week. The stock surged amid speculation that PNC Financial (NYSE: PNC) could be looking to takeover the bank.
CarMax (NYSE: KMX) 9.9% LOWER; reports Q3 EPS of $0.36, 2 cents better than the analyst estimate of $0.34. Revenue for the quarter was $2.12 billion, which compares to the estimate of $1.96 billion.
Amedisys (NASDAQ: AMED) 9% HIGHER; Deutsche Bank upgraded the stock to Buy. PT $39.
General Steel (NYSE: GSI) 8.2% HIGHER; to buyback up to 1 million shares of its common stock.
Skechers USA (NYSE: SKX) 8.2% LOWER; Sterne Agee downgraded the stock from Buy to Sell. PT lowered from $30 to $16.
Get This Report Daily Here: http://www.streetinsider.com/entities/Morning+Movers.
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