Morning Movers 4/9: ABK, BTH, CASY, ATLS, RPC, PALM Higher; JOEZ Lower

April 9, 2010 9:45 AM EDT
Ambac Financial (NYSE: ABK) 77.7% HIGHER; reported Q4 GAAP EPS of $1.93, which compares to a quarterly loss of $8.14 in the same quarter last year. Sales for the quarter were $566.6 million.

Blyth Industries (NYSE: BTH) 21.4% HIGHER; reports Q4 non-GAAP EPS of $3.60, versus the analyst estimate of $2.00, and $1.42 for the same period last year. Revenue for the quarter was $322.4 million, which compares to the estimate of $310.65 million. Sees FY11 EPS of $3.20-$3.50, which compares to the Street estimate of $3.47.

Casey's General Stores, Inc. (NASDAQ: CASY) 20.3% HIGHER; Alimentation Couche-Tard Inc. today announced that it has submitted a proposal to the Board of Directors of Casey's to acquire all of the outstanding shares of common stock of Casey's for $36.00 per share in cash.

Atlas Energy, Inc. (NASDAQ: ATLS) 15.2% HIGHER; announces today its entry into a joint venture transaction with a wholly owned affiliate of Reliance Industries Limited, the largest private sector company in India and a global energy leader, pursuant to which Atlas will transfer an interest in its Marcellus Shale position equal to 120,000 net acres in a transaction valued at $1.7 billion. Reliance will pay approximately $340 million in cash upon closing and an additional $1.36 billion in the form of a drilling carry. Atlas will serve as the development operator for the joint venture. Reliance will have the option to operate in certain project areas in the coming years outside of Atlas’ core operating areas of Fayette, Greene, Washington, and Westmoreland Counties in southwestern Pennsylvania.

Joes Jeans, Inc. (NASDAQ: JOEZ) 12.3% LOWER; reports Q4 EPS of $0.01, even with the analyst estimate of $0.01. Revenue for the quarter was $23.2 million, which compares to the estimate of $18.39 million.

Radient Pharmaceuticals Corporation (AMEX: RPC) 12% HIGHER; announced today it has extended its partnership with GenWay Biotech Inc., signing an exclusive 5-year marketing, sales and distribution agreement with GenWay Biotech Inc. for the commercialization of RPC's Onko-Sure in vitro diagnostic cancer test in Russia and the former Soviet Republics. Click here for the full report.

Palm (Nasdaq: PALM) 11% HIGHER; is on the move this morning on rumors HTC is interested in the company. Here is a translated version of the report from Edgadet: In short, Palm's share price rose this week, three caused a lot of guessing. Mentioned just before rumors of association is interested in buying Palm . Now see the Economic Daily News that also Palm, HTC interest, and also said there would be further action. Economic Times also noted: "HTC has started assessment of work, from the legal, financial, brand marketing and research and development at all levels to assess the feasibility of the acquisition strategy for Palm. HTC CEO Peter Chou travel abroad frequently over the past three weeks, Some people describe as "only five days a month in Taiwan", the rest are flying everywhere. Reportedly, Chou may CTIA communication development in the United States during the high-level meeting with the Palm."

Lihua International, Inc., (Nasdaq: LIWA) 10.3% HIGHER; is offering 3,726,708 shares of its common stock. In connection with this offering, the Company has granted the underwriters a 45-day option to purchase up to 559,006 shares of common stock to cover over-allotments, if any. The Company intends to use the majority of the proceeds from this offering for the construction of a new smelting facility, which is expected to accelerate the production of refined copper products.

LightPath Technologies, Inc. (NASDAQ: LPTH) 9.9% HIGHER; announced that it has raised gross proceeds of approximately $1.117 million through the sale of common stock priced at 100% of the 5-day average closing bid price prior to closing and warrants exercisable at 110% of the closing bid price on the day prior to closing, for only 10% of the shares issued in the financing. The financing was led by billionaire investor Carl Berg and a few private investors.

SciClone Pharmaceuticals (Nasdaq: SCLN) 8.5% HIGHER; BWS Financial upgrades SciClone from Hold to Buy with a new $7.25 price target.

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