Morning Movers 4/23: IBNK, MBTF, CACB, STSA, ACTG, WAL, SPF Higher; ACUR, PEGA, HRZ, PXLW, OPLK, AVID Lower
Integra Bank (Nasdaq: IBNK) 60.2% HIGHER; shares of IBNK surged 15% on Wednesday and another 37% yesterday. Regional banks are insane lately.
MBT Financial Corp. (Nasdaq: MBTF) 59% HIGHER; reports Q1 EPS of $0.02, versus ($0.08) reported for the same period a year ago.
Cascade Bancorp (Nasdaq: CACB) 46.3% HIGHER; regional banks have been running up sharply over the last week or so as earnings in the group are coming in better than expected.
Sterling Financial (Nasdaq: STSA) 42.4% HIGHER; rising with the entire regional banking group. Notably, in a press release from last night, JD Power and Associates ranked Sterling Savings Bank the best bank in the northwest.
Crescent Banking (Nasdaq: CSNT) 40.2% HIGHER; the stock is continuing higher following a 50% jump yesterday.
FNB United (Nasdaq: FNBN) 39.3% HIGHER; regional banking group's move higher.
Acura Pharmaceuticals, Inc. (Nasdaq: ACUR) 35.4% LOWER; Acura and King Pharmaceuticals, Inc. (NYSE: KG) today announced that the U.S. FDA Anesthetic and Life Support Drugs and Drug Safety and Risk Management Committees voted that they do not have enough evidence to support the approval of the New Drug Application for Acurox (oxycodone HCl and niacin) Tablets for the treatment of moderate to severe pain, considering the deterrent effects of niacin as well as the potential deterrent effects of the other features specific to Acurox. The addition of niacin to Acurox was central to the deliberations. The FDA is not bound by the Advisory Committees' recommendation, but may take its advice into consideration when evaluating the NDA for Acurox Tablets. Acura and King will work with the FDA to determine the next steps for the Acurox® development program.
Comstock Homebuilding (Nasdaq: CHCI) 33.2% HIGHER; continuing higher today. Just 3 Monday's ago, shares were under $1.
FPB Bancorp (Nasdaq: FPBI) 30.6% HIGHER; regional banker
Bank of Florida (Nasdaq: BOFL) 25% HIGHER; regional banker
Acacia Research (Nasdaq: ACTG) 24.1% HIGHER; reports Q1 EPS of $0.55 compared to a loss of $0.01 for the same period last year. Revenue for the quarter was $39.77 million, compared to $16.97 million for the same period last year.
Frontier Financial (Nasdaq: FTBK) 22.5% HIGHER; regional banker
Anchor BanCorp Wisconsin (Nasdaq: ABCW) 20.9% HIGHER; regional banker
Midwest Banc Holdings (Nasdaq: MBHI) 19.9% HIGHER; regional banker
Western Alliance Bancorporation (NYSE: WAL) 16.2% HIGHER; reports Q1 EPS of $0.03, 19 cents better than the analyst estimate of ($0.16).
Pegasystems (Nasdaq: PEGA) 15.5% LOWER; reports Q1 EPS of $0.10, versus $0.23 reported in the same quarter last year. Revenue for the quarter was $75.1 million. Sees FY10 non-GAAP sales of $360 million.
Horizon Lines, Inc. (NYSE: HRZ) 15.5% LOWER; reports Q1 loss of $0.39, 14 cents lower than the analyst estimate of ($0.25).
Pixelworks Inc. (Nasdaq: PXLW) 15.2% LOWER; reports Q1 EPS of $0.37, 7 cents better than the analyst estimate of $0.30. Revenue for the quarter was $18.7 million, which compares to $10.8 million reported for the same period last year. Sees Q2 EPS of ($0.16) - $0.04. Sees Q2 sales of $17.5 - $19.5 million.
Oplink Communications (Nasdaq: OPLK) 14.6% LOWER; reports Q3 EPS of $0.22, 8 cents better than the analyst estimate of $0.14. Revenue for the quarter was $33.6 million, which compares to the estimate of $33 million. Sees Q4 EPS of $0.16-$0.22, versus the consensus of $0.14. Sees Q4 sales of $35-38 million, versus the consensus of $34.3 million.
Avid Technologies (Nasdaq: AVID) 13.9% LOWER; reports Q1 non-GAAP loss of $0.12, versus the analyst estimate of ($0.06). Revenue for the quarter was $156 million, which compares to the estimate of $156.15 million. The stock was also downgraded to Underweight at JPMorgan.
Standard Pacific (NYSE: SPF) 12.7% HIGHER; homebuilders are performing very strongly this morning as sales of new homes during March surged a whopping 26.9% to 411,000.
Cepheid (Nasdaq: CPHD) 12.1% HIGHER; reports Q1 EPS of $0.00 (breakeven - ex-items), 10 cents better than the analyst estimate of ($0.10). Revenue for the quarter was $48.05 million, which compares to the estimate of $45.62 million. For the fiscal year ending December 31, 2010, the company expects: Total revenue to be in the range of $195 to $205 million vs. consensus of $202.12 million. Non-GAAP net income ranging from a loss of $(0.05) to net income of $0.02 per share. The stock was also upgraded to Outperform at Baird.
IDEXX Laboratories, Inc. (Nasdaq: IDXX) 12.1% HIGHER; reports Q1 EPS of $0.55, 6 cents better than the analyst estimate of $0.49. Revenue for the quarter was $268.5 million, which compares to the estimate of $258.76 million. Sees FY10 revs of $1.10 - $1.15 billion and an EPS increased to $2.23 $2.28, from $2.20 - $2.25 prior. Consensus sees revs of $1.11 billion and an EPS of $2.22.
Hovnanian (NYSE: HOV) 11.1% HIGHER; see SPF.
Lacrosse Footwear Inc. (Nasdaq: BOOT) 11% HIGHER; reports Q1 EPS of $0.25, 3 cents better than the analyst estimate of $0.22. Revenue for the quarter was $34.2 million, which compares to the estimate of $31.59 million.
Synaptics (Nasdaq: SYNA) 10.5% HIGHER; reports Q3 adjusted EPS of $0.46, 5 cents better than the analyst estimate of $0.41. Revenue for the quarter was $116.2 million, which compares to the estimate of $112.87 million. Adds $100 million to stock buyback. Sees Q4 sales $136 - $146 million, versus the consensus of $129.75 million.
Dover Corp. (NYSE: DOV) 9.7% HIGHER; reports Q1 operating EPS of $0.65, 14 cents better than the analyst estimate of $0.51. Revenue for the quarter was $1.60 billion, which compares to the estimate of $1.50 billion.
Autobytel (Nasdaq: ABTL) 9.7% LOWER; reports Q1 EPS of $0.02, versus a loss of $0.01 reported for the same period a year ago. Revenue for the quarter was $11.8 million, compared to $13.9 million in Q109.
Cymer (Nasdaq: CYMI) 9.3% LOWER; reports Q1 EPS of $0.53, 7 cents better than the analyst estimate of $0.46. Revenue for the quarter was $113.8 million, which compares to the estimate of $106.32 million. Sees Q2 sales of $115-$120 million.
Associated Bancorp (Nasdaq: ASBC) 8.1% LOWER; the stock was downgraded at UBS and Oppenheimer this morning.
To get this report daily visit http://www.streetinsider.com/entities/Unusual+11+Mid-Day+Movers.
MBT Financial Corp. (Nasdaq: MBTF) 59% HIGHER; reports Q1 EPS of $0.02, versus ($0.08) reported for the same period a year ago.
Cascade Bancorp (Nasdaq: CACB) 46.3% HIGHER; regional banks have been running up sharply over the last week or so as earnings in the group are coming in better than expected.
Sterling Financial (Nasdaq: STSA) 42.4% HIGHER; rising with the entire regional banking group. Notably, in a press release from last night, JD Power and Associates ranked Sterling Savings Bank the best bank in the northwest.
Crescent Banking (Nasdaq: CSNT) 40.2% HIGHER; the stock is continuing higher following a 50% jump yesterday.
FNB United (Nasdaq: FNBN) 39.3% HIGHER; regional banking group's move higher.
Acura Pharmaceuticals, Inc. (Nasdaq: ACUR) 35.4% LOWER; Acura and King Pharmaceuticals, Inc. (NYSE: KG) today announced that the U.S. FDA Anesthetic and Life Support Drugs and Drug Safety and Risk Management Committees voted that they do not have enough evidence to support the approval of the New Drug Application for Acurox (oxycodone HCl and niacin) Tablets for the treatment of moderate to severe pain, considering the deterrent effects of niacin as well as the potential deterrent effects of the other features specific to Acurox. The addition of niacin to Acurox was central to the deliberations. The FDA is not bound by the Advisory Committees' recommendation, but may take its advice into consideration when evaluating the NDA for Acurox Tablets. Acura and King will work with the FDA to determine the next steps for the Acurox® development program.
Comstock Homebuilding (Nasdaq: CHCI) 33.2% HIGHER; continuing higher today. Just 3 Monday's ago, shares were under $1.
FPB Bancorp (Nasdaq: FPBI) 30.6% HIGHER; regional banker
Bank of Florida (Nasdaq: BOFL) 25% HIGHER; regional banker
Acacia Research (Nasdaq: ACTG) 24.1% HIGHER; reports Q1 EPS of $0.55 compared to a loss of $0.01 for the same period last year. Revenue for the quarter was $39.77 million, compared to $16.97 million for the same period last year.
Frontier Financial (Nasdaq: FTBK) 22.5% HIGHER; regional banker
Anchor BanCorp Wisconsin (Nasdaq: ABCW) 20.9% HIGHER; regional banker
Midwest Banc Holdings (Nasdaq: MBHI) 19.9% HIGHER; regional banker
Western Alliance Bancorporation (NYSE: WAL) 16.2% HIGHER; reports Q1 EPS of $0.03, 19 cents better than the analyst estimate of ($0.16).
Pegasystems (Nasdaq: PEGA) 15.5% LOWER; reports Q1 EPS of $0.10, versus $0.23 reported in the same quarter last year. Revenue for the quarter was $75.1 million. Sees FY10 non-GAAP sales of $360 million.
Horizon Lines, Inc. (NYSE: HRZ) 15.5% LOWER; reports Q1 loss of $0.39, 14 cents lower than the analyst estimate of ($0.25).
Pixelworks Inc. (Nasdaq: PXLW) 15.2% LOWER; reports Q1 EPS of $0.37, 7 cents better than the analyst estimate of $0.30. Revenue for the quarter was $18.7 million, which compares to $10.8 million reported for the same period last year. Sees Q2 EPS of ($0.16) - $0.04. Sees Q2 sales of $17.5 - $19.5 million.
Oplink Communications (Nasdaq: OPLK) 14.6% LOWER; reports Q3 EPS of $0.22, 8 cents better than the analyst estimate of $0.14. Revenue for the quarter was $33.6 million, which compares to the estimate of $33 million. Sees Q4 EPS of $0.16-$0.22, versus the consensus of $0.14. Sees Q4 sales of $35-38 million, versus the consensus of $34.3 million.
Avid Technologies (Nasdaq: AVID) 13.9% LOWER; reports Q1 non-GAAP loss of $0.12, versus the analyst estimate of ($0.06). Revenue for the quarter was $156 million, which compares to the estimate of $156.15 million. The stock was also downgraded to Underweight at JPMorgan.
Standard Pacific (NYSE: SPF) 12.7% HIGHER; homebuilders are performing very strongly this morning as sales of new homes during March surged a whopping 26.9% to 411,000.
Cepheid (Nasdaq: CPHD) 12.1% HIGHER; reports Q1 EPS of $0.00 (breakeven - ex-items), 10 cents better than the analyst estimate of ($0.10). Revenue for the quarter was $48.05 million, which compares to the estimate of $45.62 million. For the fiscal year ending December 31, 2010, the company expects: Total revenue to be in the range of $195 to $205 million vs. consensus of $202.12 million. Non-GAAP net income ranging from a loss of $(0.05) to net income of $0.02 per share. The stock was also upgraded to Outperform at Baird.
IDEXX Laboratories, Inc. (Nasdaq: IDXX) 12.1% HIGHER; reports Q1 EPS of $0.55, 6 cents better than the analyst estimate of $0.49. Revenue for the quarter was $268.5 million, which compares to the estimate of $258.76 million. Sees FY10 revs of $1.10 - $1.15 billion and an EPS increased to $2.23 $2.28, from $2.20 - $2.25 prior. Consensus sees revs of $1.11 billion and an EPS of $2.22.
Hovnanian (NYSE: HOV) 11.1% HIGHER; see SPF.
Lacrosse Footwear Inc. (Nasdaq: BOOT) 11% HIGHER; reports Q1 EPS of $0.25, 3 cents better than the analyst estimate of $0.22. Revenue for the quarter was $34.2 million, which compares to the estimate of $31.59 million.
Synaptics (Nasdaq: SYNA) 10.5% HIGHER; reports Q3 adjusted EPS of $0.46, 5 cents better than the analyst estimate of $0.41. Revenue for the quarter was $116.2 million, which compares to the estimate of $112.87 million. Adds $100 million to stock buyback. Sees Q4 sales $136 - $146 million, versus the consensus of $129.75 million.
Dover Corp. (NYSE: DOV) 9.7% HIGHER; reports Q1 operating EPS of $0.65, 14 cents better than the analyst estimate of $0.51. Revenue for the quarter was $1.60 billion, which compares to the estimate of $1.50 billion.
Autobytel (Nasdaq: ABTL) 9.7% LOWER; reports Q1 EPS of $0.02, versus a loss of $0.01 reported for the same period a year ago. Revenue for the quarter was $11.8 million, compared to $13.9 million in Q109.
Cymer (Nasdaq: CYMI) 9.3% LOWER; reports Q1 EPS of $0.53, 7 cents better than the analyst estimate of $0.46. Revenue for the quarter was $113.8 million, which compares to the estimate of $106.32 million. Sees Q2 sales of $115-$120 million.
Associated Bancorp (Nasdaq: ASBC) 8.1% LOWER; the stock was downgraded at UBS and Oppenheimer this morning.
To get this report daily visit http://www.streetinsider.com/entities/Unusual+11+Mid-Day+Movers.
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