Morning Movers 5/18: LGL, AKNS, SPRD, NTWK, SINA Higher; WHX, QADI, ABK, ERI Lower
The LGL Group, Inc. (Amex: LGL) 34.6% HIGHER; reports Q1 EPS of $0.47, versus a loss of $0.46 reported for the same period a year ago. Revenue for the quarter was $10.70 million.
Akeena Solar (Nasdaq: AKNS) 25.8% HIGHER; has entered into an exclusive worldwide agreement to manufacture, distribute, market and install its solar panels under the Westinghouse name. The Westinghouse partnership is a validation of Akeena's award-winning technology that integrates the brains of a solar energy system into the solar panel itself, reducing the parts count by 80 percent and improving performance and reliability. Akeena's alternating-current systems are safer and produce up to 25 percent more energy than ordinary direct-current panels.
Spreadtrum Communications Inc. (Nasdaq: SPRD) 17.6% HIGHER; reports Q1 adj-EPS of $0.17, which may not compare to the analyst estimate of $0.04. Revenue for the quarter was $52.1 million, which compares to the estimate of $41.98 million. Sees Q2 sales of $65-$68 million, versus the consensus of $44.38 million.
Whiting USA Trust (NYSE: WHX) 11.8% LOWER; downgraded to Underperform at both Raymond James and RBC Capital this morning.
QAD Inc. (Nasdaq: QADI) 10.3% LOWER; reports preliminary total revenue for the fiscal first quarter will be in the range of $50-$51 million. Previously, QAD said that it expected total revenue for the first quarter of approximately $54 million. Consensus sees revs of $52.50 million. Given the current revenue estimates for the fiscal first quarter, QAD now expects to report a loss per share of $0.04 to $0.05. Previously the company said it expected fully diluted earnings per share to be approximately $0.03. Consensus sees an EPS of $0.06.
NetSol Technologies, Inc. (Nasdaq: NTWK) 9.9% HIGHER; announced that the Company's three founding officers acquired over 1 million shares of NetSol stock through a private transaction. The shares were purchased at the price of $0.87 on May 14, 2010. Najeeb Ghauri, CEO and Chairman, acquired 375,000 shares of stock. Salim Ghauri, President APAC, acquired 350,000 shares. Naeem Ghauri, President NTE, acquired 309,383 shares.
Sina Corp. (Nasdaq: SINA) 9.5% HIGHER; reports Q1 EPS of $0.34, ex-items, 7 cents better than the analyst estimate of $0.27. Adj-revenue for the quarter was $80.3 million, which compares to the estimate of $79.86 million. Sees Q2 adj-sales of $90-$93 million, versus the consensus of $93.47 million. The stock has also been upgraded at Auriga.
Active Power, Inc. (Nasdaq: ACPW) 8.9% HIGHER; received an order for more than $8 million for containerized infrastructure solutions from one of its strategic IT partners. The order represents the largest single order in Active Power’s history.
AMBAC Financial (NYSE: ABK) 8.7% LOWER; reports Q1 loss of $2.39, versus the analyst estimate of ($3.30).
Emrise Corp. (AMEX: ERI) 8.3% LOWER; reports Q1 loss of $0.09, versus ($0.47) reported for the same period a year ago. Revenue for the quarter was $7.09 million, compared to $8.52 million in Q109.
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Akeena Solar (Nasdaq: AKNS) 25.8% HIGHER; has entered into an exclusive worldwide agreement to manufacture, distribute, market and install its solar panels under the Westinghouse name. The Westinghouse partnership is a validation of Akeena's award-winning technology that integrates the brains of a solar energy system into the solar panel itself, reducing the parts count by 80 percent and improving performance and reliability. Akeena's alternating-current systems are safer and produce up to 25 percent more energy than ordinary direct-current panels.
Spreadtrum Communications Inc. (Nasdaq: SPRD) 17.6% HIGHER; reports Q1 adj-EPS of $0.17, which may not compare to the analyst estimate of $0.04. Revenue for the quarter was $52.1 million, which compares to the estimate of $41.98 million. Sees Q2 sales of $65-$68 million, versus the consensus of $44.38 million.
Whiting USA Trust (NYSE: WHX) 11.8% LOWER; downgraded to Underperform at both Raymond James and RBC Capital this morning.
QAD Inc. (Nasdaq: QADI) 10.3% LOWER; reports preliminary total revenue for the fiscal first quarter will be in the range of $50-$51 million. Previously, QAD said that it expected total revenue for the first quarter of approximately $54 million. Consensus sees revs of $52.50 million. Given the current revenue estimates for the fiscal first quarter, QAD now expects to report a loss per share of $0.04 to $0.05. Previously the company said it expected fully diluted earnings per share to be approximately $0.03. Consensus sees an EPS of $0.06.
NetSol Technologies, Inc. (Nasdaq: NTWK) 9.9% HIGHER; announced that the Company's three founding officers acquired over 1 million shares of NetSol stock through a private transaction. The shares were purchased at the price of $0.87 on May 14, 2010. Najeeb Ghauri, CEO and Chairman, acquired 375,000 shares of stock. Salim Ghauri, President APAC, acquired 350,000 shares. Naeem Ghauri, President NTE, acquired 309,383 shares.
Sina Corp. (Nasdaq: SINA) 9.5% HIGHER; reports Q1 EPS of $0.34, ex-items, 7 cents better than the analyst estimate of $0.27. Adj-revenue for the quarter was $80.3 million, which compares to the estimate of $79.86 million. Sees Q2 adj-sales of $90-$93 million, versus the consensus of $93.47 million. The stock has also been upgraded at Auriga.
Active Power, Inc. (Nasdaq: ACPW) 8.9% HIGHER; received an order for more than $8 million for containerized infrastructure solutions from one of its strategic IT partners. The order represents the largest single order in Active Power’s history.
AMBAC Financial (NYSE: ABK) 8.7% LOWER; reports Q1 loss of $2.39, versus the analyst estimate of ($3.30).
Emrise Corp. (AMEX: ERI) 8.3% LOWER; reports Q1 loss of $0.09, versus ($0.47) reported for the same period a year ago. Revenue for the quarter was $7.09 million, compared to $8.52 million in Q109.
To get this report daily visit http://www.streetinsider.com/entities/Morning+Movers.
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