Morning Movers 6/19: ZZ, OCLS, SWHC, GLUU, NKTR Higher; TSFG, ETFC, TNK, SSL Lower

June 19, 2009 9:33 AM EDT

Sealy Corp. (NYSE: ZZ) 33.3% HIGHER; sees Q2 sales of $249-301 million, versus the consensus of $296.79 million. Gross profit for the quarter is expected to be in the range of $119-$123 million.

The South Financial Group, Inc. (NASDAQ: TSFG) 21.3% LOWER; today announced that it priced a $75 million offering of 75 million shares of its common stock at $1.00 per share. The underwriters will have a 30-day option to purchase up to an additional 10 million shares of common stock from the Company to cover over-allotments. The closing is expected to occur on or about June 24, 2009.

Oculus Innovative Sciences, Inc. (Nasdaq: OCLS) 20.6% HIGHER; announced that preliminary results from its U.S. 40-patient feasibility study, in which an enhanced formulation of the company's Microcyn Technology-based hydrogel was used in the treatment of acne, are highly encouraging and warrant further examination.

Smith & Wesson Holding Corporation (Nasdaq: SWHC) 19.5% HIGHER; announced that it has entered into a definitive agreement to acquire Universal Safety Response, Inc., a privately held, full-service security systems solutions provider, for up to 9.7 million shares of common stock and up to $26.2 million in cash. SWHC announces Q4 FY2009 revenue of $99.5 million versus $90.83 million.

Glu Mobile (Nasdaq: GLUU) 18.6% HIGHER; shares of this mobile phone gaming company are surging today amid the new Apple iPhone launch.

Nektar Therapeutics (Nasdaq: NKTR) 16.3% HIGHER; Morgan Joseph reiterates a 'Buy' rating on Nektar and raises its price target from $7 to $9. Click here for the full report.

E*TRADE FINANCIAL Corporation (NASDAQ: ETFC) 12.9% LOWER; announced the pricing of its registered public offering of 435 million shares of its common stock at $1.10 per share to the public, for gross proceeds before underwriting discounts and commissions of $478.5 million.

Teekay Tankers Ltd. (NYSE: TNK) 11.5% LOWER; announced today that it has priced its follow-on public offering of 7,000,000 shares of Class A common stock, at $9.80 per share.

Key Energy Services, Inc. (NYSE: KEG) 10.2% HIGHER; announced activity data for the month of May: ay rig hours declined approximately 7% from April on an absolute basis, and closer to 2% on a rig hours per working day basis. More from the release.

ArvinMeritor (NYSE: ARM) 10.1% HIGHER; feeling a boost this morning from a Barclays upgraded from Equal Weight to Overweight.

Perfect World Co., Ltd. (Nasdaq: PWRD) 8.7% HIGHER; raises its Q2 sales guidance to RMB489-RMB510 million, which represents a sequential increase of 15% to 20%. This compares to the previously announced sequential guidance of a 2% decline to a 2% increase in revenue.

Star Scientific (Nasdaq: STSI) 6.9% HIGHER; correcting once again this morning following a 73% on Tuesday following litigation news.

Sasol (NYSE: SSL) 4.9% LOWER; sees FY09 EPS down by 40-50% from last year. Click here for the full report.

Hospitality Properties Trust (NYSE: HPT) 3.7% LOWER; today announced that it has priced a public offering of 17,500,000 common shares at $11.50 per share. The settlement of this sale is expected to occur on June 24, 2009. HPT expects to use the net proceeds to repay amounts outstanding under its unsecured revolving credit facility and for general business purposes. The underwriters have been granted a 30-day option to purchase up to an additional 2,625,000 shares to cover over allotments, if any. The offering size was increased from the previously announced 15,000,000 share offering.

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