Morning Movers 4/15: RHIE, ME, AEZS, ANDS, CCRT Higher; SNTS, GNV, TITN Lower
RHI Entertainment (Nasdaq: RHIE) 68.5% HIGHER; technicians have taken note of the stock following yesterday's 122% surge. The stock has jumped over the $0.60 level this morning on extremely heavy volume.
Mariner Energy (NYSE: ME) 39.1% HIGHER; Apache Corporation (NYSE: APA) announced an agreement to acquire Mariner for a combination of cash and stock worth $26.22 per Mariner Energy share. Click here to see the full report.
Santarus, Inc. (NASDAQ: SNTS) 36% LOWER; today announced that the U.S. District Court for the District of Delaware has ruled that five patents covering Santarus’ ZEGERID (omeprazole/sodium bicarbonate) prescription products are invalid due to obviousness. These patents were the subject of lawsuits brought by Santarus against Par Pharmaceutical, Inc. (NYSE: PRX). The case was heard in a five-day bench trial that concluded on July 17, 2009. Santarus plans to appeal the Court’s ruling to the U.S. Court of Appeals for the Federal Circuit Court. Click here to see the full report.
Aeterna Zentaris Inc. (NASDAQ: AEZS) 30.4% HIGHER; today announced that it has requested Scientific Advice from the EMA to assure the acceptability of the recently initiated Phase 3 programs for the development of its lead anticancer compound, perifosine, in its two lead indications, multiple myeloma and refractory advanced colorectal cancer.
GSC Investment Corp. (NYSE: GNV) 19% LOWER; today announced that Saratoga Investment Advisors, LLC and CLO Partners LLC have agreed to purchase a minority stake in the Company as part of a $55 million recapitalization plan to enable the Company to grow its business of lending to middle-market companies. The Company has been in default under its credit facility since last July. The recapitalization plan includes Saratoga and CLO Partners purchasing approximately 9.8 million shares of common stock of GSC Investment Corp. for $1.52 per share pursuant to a definitive stock purchase agreement for a minority investment, pro forma for the issuance of the new shares, of approximately 37% of the Company's equity.
Anadys Pharmaceuticals, Inc. (NASDAQ: ANDS) 17.2% HIGHER; announced today that 72% of hepatitis C patients receiving ANA598 400 mg twice daily (bid) plus standard of care achieved undetectable levels of virus at week eight in an ongoing Phase II study, compared to 38% of patients receiving placebo plus SOC. Click here to see the full report.
CompuCredit Holdings Corporation (NASDAQ: CCRT) 16.6% HIGHER; today announced that it has commenced a cash tender offer for (i) its outstanding 3.625% Convertible Senior Notes due 2025, up to the aggregate principal amount of Notes equal to a total purchase price of $100.0 million, at a purchase price to be determined by the "Modified Dutch Auction" procedure described below, and (ii) shares of its outstanding common stock, no par value per share, in a number of shares equal to the number of such shares allowable for purchase from the Tender Cap remaining (if any) after deducting from the Tender Cap the total purchase price of the Notes actually purchased pursuant to Tender Offer, at a purchase price of $7.00 per share. The Company expects to fund the purchase of the Securities tendered in the Tender Offer with available cash on hand. Under the "Modified Dutch Auction" procedure, CompuCredit is offering to purchase the Notes at a purchase price in the aggregate not to exceed the Tender Cap at a price (in multiples of $0.50 per $1,000 principal amount) not greater than $600 nor less than $550 per $1,000 principal amount of such Notes.
Dynavax Technologies Corporation (NASDAQ: DVAX) 14.5% HIGHER; today presented Phase 2 clinical data that demonstrate HEPLISAV's immunogenicity and rapid protection in patients with chronic kidney disease. In a poster session at the National Kidney Foundation Spring Clinical Meeting in Orlando, FL, Dynavax results showed that two doses of HEPLISAV protected 100% of the dialysis and pre-dialysis patients measured at week 24 in the Phase 2 study. Click here to see the full report.
Titan Machinery (NASDAQ: TITN) 13.4% LOWER; reports Q4 EPS of $0.19, versus the analyst estimate of $0.26. Revenue for the quarter was $252.3 million, which compares to the estimate of $207.15 million. Sees FY11 revs of $920 - $980 million and an EPS of $0.92 - $1.02. Consensus sees an EPS of $1.02 and revs of $829.9 million.
The South Financial Group (Nasdaq: TSFG) 10.2% HIGHER; momentum in the stock remains as shares approach the always-important $1 level. Volume is heavy today.
InterOil Corporation (NYSE: IOC) 8.5% HIGHER; announced today that the Company has entered into agreements with Mitsui & Co. Ltd., to jointly operate and fund the preliminary works involved to develop a proposed condensate stripping facility at InterOil's Elk and Antelope field site in Gulf Province, Papua New Guinea. Click here to see the full report.
To get this report daily, visit http://www.streetinsider.com/entities/Morning+Movers.
Mariner Energy (NYSE: ME) 39.1% HIGHER; Apache Corporation (NYSE: APA) announced an agreement to acquire Mariner for a combination of cash and stock worth $26.22 per Mariner Energy share. Click here to see the full report.
Santarus, Inc. (NASDAQ: SNTS) 36% LOWER; today announced that the U.S. District Court for the District of Delaware has ruled that five patents covering Santarus’ ZEGERID (omeprazole/sodium bicarbonate) prescription products are invalid due to obviousness. These patents were the subject of lawsuits brought by Santarus against Par Pharmaceutical, Inc. (NYSE: PRX). The case was heard in a five-day bench trial that concluded on July 17, 2009. Santarus plans to appeal the Court’s ruling to the U.S. Court of Appeals for the Federal Circuit Court. Click here to see the full report.
Aeterna Zentaris Inc. (NASDAQ: AEZS) 30.4% HIGHER; today announced that it has requested Scientific Advice from the EMA to assure the acceptability of the recently initiated Phase 3 programs for the development of its lead anticancer compound, perifosine, in its two lead indications, multiple myeloma and refractory advanced colorectal cancer.
GSC Investment Corp. (NYSE: GNV) 19% LOWER; today announced that Saratoga Investment Advisors, LLC and CLO Partners LLC have agreed to purchase a minority stake in the Company as part of a $55 million recapitalization plan to enable the Company to grow its business of lending to middle-market companies. The Company has been in default under its credit facility since last July. The recapitalization plan includes Saratoga and CLO Partners purchasing approximately 9.8 million shares of common stock of GSC Investment Corp. for $1.52 per share pursuant to a definitive stock purchase agreement for a minority investment, pro forma for the issuance of the new shares, of approximately 37% of the Company's equity.
Anadys Pharmaceuticals, Inc. (NASDAQ: ANDS) 17.2% HIGHER; announced today that 72% of hepatitis C patients receiving ANA598 400 mg twice daily (bid) plus standard of care achieved undetectable levels of virus at week eight in an ongoing Phase II study, compared to 38% of patients receiving placebo plus SOC. Click here to see the full report.
CompuCredit Holdings Corporation (NASDAQ: CCRT) 16.6% HIGHER; today announced that it has commenced a cash tender offer for (i) its outstanding 3.625% Convertible Senior Notes due 2025, up to the aggregate principal amount of Notes equal to a total purchase price of $100.0 million, at a purchase price to be determined by the "Modified Dutch Auction" procedure described below, and (ii) shares of its outstanding common stock, no par value per share, in a number of shares equal to the number of such shares allowable for purchase from the Tender Cap remaining (if any) after deducting from the Tender Cap the total purchase price of the Notes actually purchased pursuant to Tender Offer, at a purchase price of $7.00 per share. The Company expects to fund the purchase of the Securities tendered in the Tender Offer with available cash on hand. Under the "Modified Dutch Auction" procedure, CompuCredit is offering to purchase the Notes at a purchase price in the aggregate not to exceed the Tender Cap at a price (in multiples of $0.50 per $1,000 principal amount) not greater than $600 nor less than $550 per $1,000 principal amount of such Notes.
Dynavax Technologies Corporation (NASDAQ: DVAX) 14.5% HIGHER; today presented Phase 2 clinical data that demonstrate HEPLISAV's immunogenicity and rapid protection in patients with chronic kidney disease. In a poster session at the National Kidney Foundation Spring Clinical Meeting in Orlando, FL, Dynavax results showed that two doses of HEPLISAV protected 100% of the dialysis and pre-dialysis patients measured at week 24 in the Phase 2 study. Click here to see the full report.
Titan Machinery (NASDAQ: TITN) 13.4% LOWER; reports Q4 EPS of $0.19, versus the analyst estimate of $0.26. Revenue for the quarter was $252.3 million, which compares to the estimate of $207.15 million. Sees FY11 revs of $920 - $980 million and an EPS of $0.92 - $1.02. Consensus sees an EPS of $1.02 and revs of $829.9 million.
The South Financial Group (Nasdaq: TSFG) 10.2% HIGHER; momentum in the stock remains as shares approach the always-important $1 level. Volume is heavy today.
InterOil Corporation (NYSE: IOC) 8.5% HIGHER; announced today that the Company has entered into agreements with Mitsui & Co. Ltd., to jointly operate and fund the preliminary works involved to develop a proposed condensate stripping facility at InterOil's Elk and Antelope field site in Gulf Province, Papua New Guinea. Click here to see the full report.
To get this report daily, visit http://www.streetinsider.com/entities/Morning+Movers.
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