Morning Movers 4/20: REED, ARRY, GTF, CPY, CYTR, JSDA Higher; HDY, BDSI, SSN, MTG, CHP, FTBK Lower
Reed's, Inc. (NASDAQ: REED) 41.4% HIGHER; announced today that the Company anticipates strong first quarter sales following on record fourth quarter revenues, which increased 21% over the prior year.
Array BioPharma Inc. (Nasdaq: ARRY) 32.2% HIGHER; today announced that it has entered into an agreement with Novartis for the worldwide development of the small-molecule MEK inhibitors ARRY-162, currently in a Phase 1 cancer trial, its back-up, ARRY-300, and other MEK inhibitors. Click here to see the full report.
Cytomedix (NYSE: GTF) 28.6% HIGHER; continuing higher today following a 23% jump on Friday of last week and another 11% gain yesterday. The stock is attempting to break over the $1 level.
Hyperdynamics (Amex: HDY) 22.2% LOWER; has entered into a definitive agreement with institutional investors in a registered direct offering of its common stock with gross proceeds of approximately $10.5 million.
CPI Corp. (NYSE: CPY) 22% HIGHER; reports Q4 EPS of $0., versus $1.42 reported for the same period a year ago. Revenue for the quarter was $140.2 million, compared to $153.9 million in Q408.
CytRx Corporation (Nasdaq: CYTR) 18% HIGHER; today announced that bafetinib (formerly known as INNO-406) has received official notification from the Committee for Orphan Medicinal Products of the European Medicines Agency that a positive opinion was made regarding the application for orphan medicinal product for the treatment of chronic myeloid leukemia. The positive opinion of the COMP has now been forwarded to the EU commission for final approval and publication in the community register. Bafetinib also has been granted Orphan Drug Status for the treatment of Philadelphia chromosome-positive (Ph+) CML by the U.S. FDA.
Jones Soda Co. (Nasdaq: JSDA) 15.9% HIGHER; announced today that retail giant Target (NYSE: TGT) has awarded Jones GABA flavors with merchandising space in stores nationwide. Jones ready-to-drink tea and juice blended beverages in Fuji Apple, Nectarine, Lemon Honey and Grapefruit, will hit shelves beginning in late May.
BioDelivery Sciences International, Inc. (Nasdaq: BDSI) 15.4% LOWER; announced that it has entered into a definitive securities purchase agreement with a group of select institutional investors to purchase US$10 million of its securities in a registered direct offering. No placement agent was utilized in connection with the offering.
ChipMOS Technologies (Bermuda) LTD. (Nasdaq: IMOS) 14.5% HIGHER; Revenue for the month of March 2010 was NT$1,296.4 million or US$40.9 million, an increase of 14.6% from the month of February 2010 and an increase of 67.7% from the same period in 2009. On a quarterly basis, revenues for the first quarter of 2010 was NT$3,671.5 million or US$115.7 million, an increase of 2.3% from the fourth quarter of 2009 and an increase of 61.0% from the same period in 2009.
Akorn (Nasdaq: AKRX) 13.2% HIGHER; started at Buy by Craig-Hallum this morning. The firm set a $3 price target.
Samson Oil & Gas Limited (AMEX: SSN) 13.2% LOWER; advises that it expects to be drilling the Gary #1-24H well in mid to late May 2010. Click here for the full report.
MGIC Investment Corp. (NYSE: MTG) 11.7% LOWER; reports Q1 loss of $1.20, inline with the analyst estimate of ($1.20). Sales for the quarter came in at $370.8 million, versus the consensus of $393.40 million. Also announced that it will offer $700 million in common stock and $300 million in senior notes.
C&D Technologies, Inc. (NYSE: CHP) 11.5% LOWER; reports Q4 loss of $0.26, which may not compare to the analyst estimate of ($0.05). Revenue for the quarter was $88.4 million, which compares to the estimate of $95.80 million.
Frontier Financial Corporation (NASDAQ: FTBK) 10.5% LOWER; Dyer & Berens LLP yesterday announced that it has filed a class action lawsuit in the United States District Court for the Western District of Washington on behalf of investors who purchased or otherwise acquired the common stock of Frontier Financial between July 22, 2008 and March 16, 2010, inclusive.
Collectors Universe, Inc. (Nasdaq: CLCT) 10.1% HIGHER; has approved an increase in its quarterly cash dividend from $0.25 to $0.30 per share per quarter.
Stepan Company (NYSE: SCL) 10.1% HIGHER; reports Q1 EPS of $1.76, versus the analyst estimate of $1.32. Revenue for the quarter was $337.03 million, which compares to the estimate of $314.51 million.
Pinnacle Financial Partners, Inc. (NASDAQ: PNFP) 10.1% LOWER; reports Q1 loss of $0.16, versus the analyst estimate of $0.01. Revenue for the quarter was $45.05 million, which compares to the estimate of $46.43 million.
Human Genome Sciences, Inc. (Nasdaq: HGSI) 10% LOWER; HGSI and GlaxoSmithKline PLC (NYSE: GSK) today announced topline secondary endpoints from BLISS-76, the second of two pivotal Phase 3 trials of BENLYSTA™ (belimumab) in seropositive patients with systemic lupus erythematosus. BENLYSTA 10 mg/kg already met its primary efficacy endpoint at Week 52 in both BLISS-52 and BLISS-76, as announced in July and November 2009. Click here to see the full report.
Journal Communications (NYSE: JRN) 9.5% HIGHER; reports Q1 EPS from continuing operations of $0.10, 3 cents better than the analyst estimate of $0.07. Revenue for the quarter was $98.5 million, which compares to the estimate of $102.32 million.
Encorium Group Inc. (Nasdaq: ENCO) 9.2% LOWER; reports Q4 loss of $0.18, versus a loss of $4.92 reported for the same period a year ago. Revenue for the quarter was $4.4 million, compared to $5.6 million in Q409.
FalconStor Software, Inc. (NASDAQ: FALC) 9.2% LOWER; today announced preliminary results for the first quarter ended March 31, 2010. Based on preliminary financial data, the Company expects first quarter revenue to be in the range of $16.8 to $17.1 million, non-GAAP operating loss to be between $5.8 and $6.0 million, and non-GAAP net loss per share to be between $0.08 and $0.09 per share. Consensus sees a loss of $0.02. The stock was also downgraded to Hold at Brigantine.
Atheros Communications, Inc. (NASDAQ: ATHR) 8.9% HIGHER; reports Q1 EPS of $0.57, ex-items, 6 cents better than the analyst estimate of $0.51. Revenue for the quarter was $214.7 million, which compares to the estimate of $201.20 million.
To get this report daily visit http://www.streetinsider.com/entities/Unusual+11+Mid-Day+Movers.
Array BioPharma Inc. (Nasdaq: ARRY) 32.2% HIGHER; today announced that it has entered into an agreement with Novartis for the worldwide development of the small-molecule MEK inhibitors ARRY-162, currently in a Phase 1 cancer trial, its back-up, ARRY-300, and other MEK inhibitors. Click here to see the full report.
Cytomedix (NYSE: GTF) 28.6% HIGHER; continuing higher today following a 23% jump on Friday of last week and another 11% gain yesterday. The stock is attempting to break over the $1 level.
Hyperdynamics (Amex: HDY) 22.2% LOWER; has entered into a definitive agreement with institutional investors in a registered direct offering of its common stock with gross proceeds of approximately $10.5 million.
CPI Corp. (NYSE: CPY) 22% HIGHER; reports Q4 EPS of $0., versus $1.42 reported for the same period a year ago. Revenue for the quarter was $140.2 million, compared to $153.9 million in Q408.
CytRx Corporation (Nasdaq: CYTR) 18% HIGHER; today announced that bafetinib (formerly known as INNO-406) has received official notification from the Committee for Orphan Medicinal Products of the European Medicines Agency that a positive opinion was made regarding the application for orphan medicinal product for the treatment of chronic myeloid leukemia. The positive opinion of the COMP has now been forwarded to the EU commission for final approval and publication in the community register. Bafetinib also has been granted Orphan Drug Status for the treatment of Philadelphia chromosome-positive (Ph+) CML by the U.S. FDA.
Jones Soda Co. (Nasdaq: JSDA) 15.9% HIGHER; announced today that retail giant Target (NYSE: TGT) has awarded Jones GABA flavors with merchandising space in stores nationwide. Jones ready-to-drink tea and juice blended beverages in Fuji Apple, Nectarine, Lemon Honey and Grapefruit, will hit shelves beginning in late May.
BioDelivery Sciences International, Inc. (Nasdaq: BDSI) 15.4% LOWER; announced that it has entered into a definitive securities purchase agreement with a group of select institutional investors to purchase US$10 million of its securities in a registered direct offering. No placement agent was utilized in connection with the offering.
ChipMOS Technologies (Bermuda) LTD. (Nasdaq: IMOS) 14.5% HIGHER; Revenue for the month of March 2010 was NT$1,296.4 million or US$40.9 million, an increase of 14.6% from the month of February 2010 and an increase of 67.7% from the same period in 2009. On a quarterly basis, revenues for the first quarter of 2010 was NT$3,671.5 million or US$115.7 million, an increase of 2.3% from the fourth quarter of 2009 and an increase of 61.0% from the same period in 2009.
Akorn (Nasdaq: AKRX) 13.2% HIGHER; started at Buy by Craig-Hallum this morning. The firm set a $3 price target.
Samson Oil & Gas Limited (AMEX: SSN) 13.2% LOWER; advises that it expects to be drilling the Gary #1-24H well in mid to late May 2010. Click here for the full report.
MGIC Investment Corp. (NYSE: MTG) 11.7% LOWER; reports Q1 loss of $1.20, inline with the analyst estimate of ($1.20). Sales for the quarter came in at $370.8 million, versus the consensus of $393.40 million. Also announced that it will offer $700 million in common stock and $300 million in senior notes.
C&D Technologies, Inc. (NYSE: CHP) 11.5% LOWER; reports Q4 loss of $0.26, which may not compare to the analyst estimate of ($0.05). Revenue for the quarter was $88.4 million, which compares to the estimate of $95.80 million.
Frontier Financial Corporation (NASDAQ: FTBK) 10.5% LOWER; Dyer & Berens LLP yesterday announced that it has filed a class action lawsuit in the United States District Court for the Western District of Washington on behalf of investors who purchased or otherwise acquired the common stock of Frontier Financial between July 22, 2008 and March 16, 2010, inclusive.
Collectors Universe, Inc. (Nasdaq: CLCT) 10.1% HIGHER; has approved an increase in its quarterly cash dividend from $0.25 to $0.30 per share per quarter.
Stepan Company (NYSE: SCL) 10.1% HIGHER; reports Q1 EPS of $1.76, versus the analyst estimate of $1.32. Revenue for the quarter was $337.03 million, which compares to the estimate of $314.51 million.
Pinnacle Financial Partners, Inc. (NASDAQ: PNFP) 10.1% LOWER; reports Q1 loss of $0.16, versus the analyst estimate of $0.01. Revenue for the quarter was $45.05 million, which compares to the estimate of $46.43 million.
Human Genome Sciences, Inc. (Nasdaq: HGSI) 10% LOWER; HGSI and GlaxoSmithKline PLC (NYSE: GSK) today announced topline secondary endpoints from BLISS-76, the second of two pivotal Phase 3 trials of BENLYSTA™ (belimumab) in seropositive patients with systemic lupus erythematosus. BENLYSTA 10 mg/kg already met its primary efficacy endpoint at Week 52 in both BLISS-52 and BLISS-76, as announced in July and November 2009. Click here to see the full report.
Journal Communications (NYSE: JRN) 9.5% HIGHER; reports Q1 EPS from continuing operations of $0.10, 3 cents better than the analyst estimate of $0.07. Revenue for the quarter was $98.5 million, which compares to the estimate of $102.32 million.
Encorium Group Inc. (Nasdaq: ENCO) 9.2% LOWER; reports Q4 loss of $0.18, versus a loss of $4.92 reported for the same period a year ago. Revenue for the quarter was $4.4 million, compared to $5.6 million in Q409.
FalconStor Software, Inc. (NASDAQ: FALC) 9.2% LOWER; today announced preliminary results for the first quarter ended March 31, 2010. Based on preliminary financial data, the Company expects first quarter revenue to be in the range of $16.8 to $17.1 million, non-GAAP operating loss to be between $5.8 and $6.0 million, and non-GAAP net loss per share to be between $0.08 and $0.09 per share. Consensus sees a loss of $0.02. The stock was also downgraded to Hold at Brigantine.
Atheros Communications, Inc. (NASDAQ: ATHR) 8.9% HIGHER; reports Q1 EPS of $0.57, ex-items, 6 cents better than the analyst estimate of $0.51. Revenue for the quarter was $214.7 million, which compares to the estimate of $201.20 million.
To get this report daily visit http://www.streetinsider.com/entities/Unusual+11+Mid-Day+Movers.
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