Morning Movers 3/30: LGL, WEDC, OPXA, FIGI, BNHNA Higher; GNVC, CHGS, ZSTN, HPJ, MPG, OXM Lower
GNVC Hot Sheet
Revenue Growth %: -34.6%
GenVec Inc. (Nasdaq: GNVC) 71.2% LOWER; the company announced that it is discontinuing its Phase 3 clinical trialPhase 3 clinical trial of TNFeradeTNFerade in patients with locally advanced pancreatic cancer. An interim analysisinterim analysis showed that the trial would not meet the goal of demonstrating persuasive evidence of clinical effectiveness that could form the basis for regulatory approval in the population chosen for study. The stock was also downgraded at Roth Capital.
The LGL Group, Inc. (AMEX: LGL) 38.3% HIGHER; reports Q4 EPS of $0.15, versus ($0.05) reported for the same period a year ago. Revenue for the quarter was $9.20 million, compared to $7.32 million in Q408.
White Electronic Designs Corporation (Nasdaq: WEDC) 27.3% HIGHER; Microsemi Corporation (Nasdaq: MSCC) entered into a definitive agreement to acquire WEDC through a cash tender offer at $7.00 per share for a net transaction value of approximately $100 million, net of White Electronic's projected cash balance at closing.
Opexa Therapeutucs (Nasdaq: OPXA) 14.5% HIGHER; Rodman & RenshawRenshaw initiates coverage on Opexa with a Market Outperform rating. PT $6.
China GengSheng Minerals, Inc. (NYSE: CHGS) 13% LOWER; reports Q4 EPS of $0.04, in-line with estimates. Revenues were $15.3 million vs. $15.19 million consensus.
ZST Digital Networks, Inc. (NASDAQ: ZSTN) 13% LOWER; reports Q4 EPS of $0.32, 3 cents better than the analyst estimate of $0.29. Revenue for the quarter was $30.3 million, which compares to the estimate of $28.06 million.
Fortress International Group, Inc. (NASDAQ: FIGI) 12.4% HIGHER; reports Q4 loss of $0.06, versus ($1.43) reported for the same period a year ago. Revenue for the quarter was $9.0 million, compared to $26.5 million in Q408.
Hong Kong Highpower Technology, Inc. (NYSE: HPJ) 12.3% LOWER; reports Q4 EPS of $0.05, versus the analyst estimate of $0.09. Revenue for the quarter was $22.50 million, which compares to the estimate of $17.90 million.
Benihana Inc. (Nasdaq: BNHNA) 11.4% HIGHER; According to reports from the New York Post, Russell Glass has raised his bid for Benihana from $7 per share to $8.
Maguire Properties (NYSE: MPG) 9.8% LOWER; Stifel Nicolaus downgrades Maguire Properties from Hold to Sell.
Oxford Industries (NYSE: OXM) 9.2% LOWER; reports Q4 EPS of $0.21, 5 cents better than the analyst estimate of $0.16. Revenue for the quarter was $190.5 million, which compares to the estimate of $189.60 million. Raises quarter dividend to $0.11. Sees Q110 EPS of $0.55 - $0.60, versus $0.63 consensus. Also sees Q110 sales of $200 - $210 million, versus $224 million consensus. Sees FY10 EPS of $1.40 - $1.50, versus $1.51 consensus. And sees FY10 sales of $760 - $775 million, versus $820 million.
Allied Irish Banks (NYSE: AIB) 8.7% LOWER; continuing lower today following yesterday's 20% drop amid reports that the Irish government could take an increased stake in the bank. News today suggests that AIB could need up to $9.5 billion more in new capital.
Sunesis Pharmaceuticals Inc. (NASDAQ: SNSS) 8.7% LOWER; reports Q4 loss of $0.15, 1 cent better than the analyst estimate of ($0.16). Revenue for the quarter was $12,500, which compares to the estimate of $500,000.
ChinaCast Education Corporation (NASDAQ: CAST) 8.4% HIGHER; reports Q4 non-GAAP EPS of $0.13, 2 cents2 cents better than the analyst estimate of $0.11. Revenue for the quarter was $16.5 million, which compares to the estimate of $16.49 million. Sees FY10 revs of $78 - $80 million, compared to the consensus of $73.73 million. Also announced a $66.2 million agreement to acquire a Chinese university.
LDK Solar (NYSE: LDK) 8.2% LOWER; reports Q4 EPS of $0.03, 9 cents better than the analyst estimate of $0.12. Revenue for the quarter was $304.6 million, which compares to the estimate of $301.9 million. Sees Q1 revenues of $310-$330 million, versus the consensus of $321 million. For Q1 the company sees wafer shipments between 370 MW to 400 MW and module shipments between 25 MW to 30 MW.
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The LGL Group, Inc. (AMEX: LGL) 38.3% HIGHER; reports Q4 EPS of $0.15, versus ($0.05) reported for the same period a year ago. Revenue for the quarter was $9.20 million, compared to $7.32 million in Q408.
White Electronic Designs Corporation (Nasdaq: WEDC) 27.3% HIGHER; Microsemi Corporation (Nasdaq: MSCC) entered into a definitive agreement to acquire WEDC through a cash tender offer at $7.00 per share for a net transaction value of approximately $100 million, net of White Electronic's projected cash balance at closing.
Opexa Therapeutucs (Nasdaq: OPXA) 14.5% HIGHER; Rodman & RenshawRenshaw initiates coverage on Opexa with a Market Outperform rating. PT $6.
China GengSheng Minerals, Inc. (NYSE: CHGS) 13% LOWER; reports Q4 EPS of $0.04, in-line with estimates. Revenues were $15.3 million vs. $15.19 million consensus.
ZST Digital Networks, Inc. (NASDAQ: ZSTN) 13% LOWER; reports Q4 EPS of $0.32, 3 cents better than the analyst estimate of $0.29. Revenue for the quarter was $30.3 million, which compares to the estimate of $28.06 million.
Fortress International Group, Inc. (NASDAQ: FIGI) 12.4% HIGHER; reports Q4 loss of $0.06, versus ($1.43) reported for the same period a year ago. Revenue for the quarter was $9.0 million, compared to $26.5 million in Q408.
Hong Kong Highpower Technology, Inc. (NYSE: HPJ) 12.3% LOWER; reports Q4 EPS of $0.05, versus the analyst estimate of $0.09. Revenue for the quarter was $22.50 million, which compares to the estimate of $17.90 million.
Benihana Inc. (Nasdaq: BNHNA) 11.4% HIGHER; According to reports from the New York Post, Russell Glass has raised his bid for Benihana from $7 per share to $8.
Maguire Properties (NYSE: MPG) 9.8% LOWER; Stifel Nicolaus downgrades Maguire Properties from Hold to Sell.
Oxford Industries (NYSE: OXM) 9.2% LOWER; reports Q4 EPS of $0.21, 5 cents better than the analyst estimate of $0.16. Revenue for the quarter was $190.5 million, which compares to the estimate of $189.60 million. Raises quarter dividend to $0.11. Sees Q110 EPS of $0.55 - $0.60, versus $0.63 consensus. Also sees Q110 sales of $200 - $210 million, versus $224 million consensus. Sees FY10 EPS of $1.40 - $1.50, versus $1.51 consensus. And sees FY10 sales of $760 - $775 million, versus $820 million.
Allied Irish Banks (NYSE: AIB) 8.7% LOWER; continuing lower today following yesterday's 20% drop amid reports that the Irish government could take an increased stake in the bank. News today suggests that AIB could need up to $9.5 billion more in new capital.
Sunesis Pharmaceuticals Inc. (NASDAQ: SNSS) 8.7% LOWER; reports Q4 loss of $0.15, 1 cent better than the analyst estimate of ($0.16). Revenue for the quarter was $12,500, which compares to the estimate of $500,000.
ChinaCast Education Corporation (NASDAQ: CAST) 8.4% HIGHER; reports Q4 non-GAAP EPS of $0.13, 2 cents2 cents better than the analyst estimate of $0.11. Revenue for the quarter was $16.5 million, which compares to the estimate of $16.49 million. Sees FY10 revs of $78 - $80 million, compared to the consensus of $73.73 million. Also announced a $66.2 million agreement to acquire a Chinese university.
LDK Solar (NYSE: LDK) 8.2% LOWER; reports Q4 EPS of $0.03, 9 cents better than the analyst estimate of $0.12. Revenue for the quarter was $304.6 million, which compares to the estimate of $301.9 million. Sees Q1 revenues of $310-$330 million, versus the consensus of $321 million. For Q1 the company sees wafer shipments between 370 MW to 400 MW and module shipments between 25 MW to 30 MW.
To get this report daily, visit http://www.streetinsider.com/entities/Morning+Movers.
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