Morning Movers 6/29: WAIN, HSP, RZ, PSDV Higher; BKS, MU, CTRP, LVS, CCME, AAN, MGM Lower
Wainwright Bank & Trust (Nasdaq: WAIN) 95.5% HIGHER; Eastern Bank to pay $19/share for Wainwright. Click here to see the full report.
Javelin Pharmaceuticals, Inc. (AMEX: JAV) 58% HIGHER; Hospira, Inc. (NYSE: HSP) today announced its intention to complete the tender offer by Discus Acquisition Corporation, a wholly owned Hospira subsidiary, for all outstanding shares of the common stock of Javelin.
Raser Technologies, Inc. (NYSE: RZ) 17.7% HIGHER; and global manufacturing giant Hyundai Heavy Industries announced today that the two companies have signed a Memorandum of Understanding for the joint development of renewable energy and electric vehicles. The agreement sets into play the first two projects that are intended to lead to a broader long-term relationship to develop renewable energy in the western U.S. utilizing Raser’s resource portfolio and HHI’s renewable energy equipment manufacturing capabilities.
Barnes & Noble (NYSE: BKS) 16.6% LOWER; reports Q4 adj-loss of $0.89, 8 cents lower than the analyst estimate of ($0.81). Revenue for the quarter was $1.32 billion, which compares to the estimate of $1.28 billion. Comps down 3.1%. Sees Fy11 sales up 20-25%.
Micron (NYSE: MU) 11.5% LOWER; reports Q3 EPS of $0.92, versus ($0.37) reported for the same period last year. Revenue for the quarter was $2.29 billion, which compares to the estimate of $2.10 billion.
Ctrip.com (Nasdaq: CTRP) 9.9% LOWER; falling today amid news that foreign airlines will cut commission rates related to international news. The stock was also downgraded at RBS and Deutsche Bank.
Las Vegas Sands (NYSE: LVS) 9.4% LOWER; casino stocks tumbling today despite raised estimates at Goldman Sachs.
China MediaExpress Holdings, Inc. (NASDAQ: CCME) 9.1% LOWER; today announced that it has been added to the Russell Global Index.
Aaron's (NYSE: AAN) 8.9% LOWER; closing its Office Furniture division; cutting forecast: sees a charge of about $9.5 million or about $0.07 per share. Q2 EPS guidance moves from $0.37-$0.41 to $0.29-$0.33, versus the consensus of $0.39. FY10 EPS moves from $1.48-$1.60 to $1.36-$1.48, which compares to the Street estimate of $1.54.
Allied Irish Banks (NYSE: AIB) 8.6% LOWER; stocks around the world are selling-off. It seems stocks in the volatile European banking sector often have exaggerated moves amid a global sell off in stocks.
MGM Mirage (NYSE: MGM) 8.4% LOWER; see LVS.
pSivida Corp. (Nasdaq: PSDV) 8.3% HIGHER; today announced that its licensee, Alimera Sciences (Nasdaq: ALIM) has submitted a New Drug Application to the U.S. Food and Drug Administration for Iluvien for Diabetic Macular Edema. Click here to see the full report.
To get this report daily visit http://www.streetinsider.com/entities/Morning+Movers.
Javelin Pharmaceuticals, Inc. (AMEX: JAV) 58% HIGHER; Hospira, Inc. (NYSE: HSP) today announced its intention to complete the tender offer by Discus Acquisition Corporation, a wholly owned Hospira subsidiary, for all outstanding shares of the common stock of Javelin.
Raser Technologies, Inc. (NYSE: RZ) 17.7% HIGHER; and global manufacturing giant Hyundai Heavy Industries announced today that the two companies have signed a Memorandum of Understanding for the joint development of renewable energy and electric vehicles. The agreement sets into play the first two projects that are intended to lead to a broader long-term relationship to develop renewable energy in the western U.S. utilizing Raser’s resource portfolio and HHI’s renewable energy equipment manufacturing capabilities.
Barnes & Noble (NYSE: BKS) 16.6% LOWER; reports Q4 adj-loss of $0.89, 8 cents lower than the analyst estimate of ($0.81). Revenue for the quarter was $1.32 billion, which compares to the estimate of $1.28 billion. Comps down 3.1%. Sees Fy11 sales up 20-25%.
Micron (NYSE: MU) 11.5% LOWER; reports Q3 EPS of $0.92, versus ($0.37) reported for the same period last year. Revenue for the quarter was $2.29 billion, which compares to the estimate of $2.10 billion.
Ctrip.com (Nasdaq: CTRP) 9.9% LOWER; falling today amid news that foreign airlines will cut commission rates related to international news. The stock was also downgraded at RBS and Deutsche Bank.
Las Vegas Sands (NYSE: LVS) 9.4% LOWER; casino stocks tumbling today despite raised estimates at Goldman Sachs.
China MediaExpress Holdings, Inc. (NASDAQ: CCME) 9.1% LOWER; today announced that it has been added to the Russell Global Index.
Aaron's (NYSE: AAN) 8.9% LOWER; closing its Office Furniture division; cutting forecast: sees a charge of about $9.5 million or about $0.07 per share. Q2 EPS guidance moves from $0.37-$0.41 to $0.29-$0.33, versus the consensus of $0.39. FY10 EPS moves from $1.48-$1.60 to $1.36-$1.48, which compares to the Street estimate of $1.54.
Allied Irish Banks (NYSE: AIB) 8.6% LOWER; stocks around the world are selling-off. It seems stocks in the volatile European banking sector often have exaggerated moves amid a global sell off in stocks.
MGM Mirage (NYSE: MGM) 8.4% LOWER; see LVS.
pSivida Corp. (Nasdaq: PSDV) 8.3% HIGHER; today announced that its licensee, Alimera Sciences (Nasdaq: ALIM) has submitted a New Drug Application to the U.S. Food and Drug Administration for Iluvien for Diabetic Macular Edema. Click here to see the full report.
To get this report daily visit http://www.streetinsider.com/entities/Morning+Movers.
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