Morning Movers 7/13: ADCT, STXS, OREX, BRKS, VVUS, THLD, AETI Higher; AMED, CVLT, BPZ, BMTI Lower
ADC Telecom (Nasdaq: ADCT) 41.5% HIGHER; Tyco Electronics (NYSE: TEL) to acquire ADC for $12.75/share. Click here to see the full report.
Amedisys, Inc. (NASDAQ: AMED) 24% LOWER; sees Q2 EPS of $1.12, including items. Click here to see the full report. The stock was also downgraded at RBC.
Stereotaxis, Inc. (Nasdaq: STXS) 22.5% HIGHER; announced today that its new capital order momentum continued to build in the second quarter of 2010. The Company generated new capital orders of $10.2 million, more than doubling new capital orders from the 2009 second quarter and representing a 42% sequential increase over orders in the first quarter of 2010. New orders from North America totaled $5.1 million of the total orders in the quarter.
CommVault (NASDAQ: CVLT) 20.8% LOWER; expects to report revenue for the first quarter of approximately $66.3 million. (Consensus is $71.55 million) Software revenue is expected to be approximately $28.3 million and services revenue is expected to be approximately $38.0 million. Non-GAAP earnings per diluted share are expected to be approximately $0.11 using a Non-GAAP effective tax rate of 34%. (Consensus is $0.17) The stock was also downgraded at Stifel Nicolaus.
BPZ Resources, Inc. (NYSE: BPZ) 18.7% LOWER; announces completion of its CX11-22D well and spudding of the CX11-23D well in Corvina, and provides an update on production, Albacora oil sales, and status of the Extended Well Testing permitting process. Click here to see the full report. The stock was also downgraded at Morgan Keegan.
Orexigen (Nasdaq: OREX) 16.6% HIGHER; seeing upside today following news that an FDA advisory panel has said that Vivus' diet pill led to "statistically significant" weight loss.
Brooks Automation (Nasdaq: BRKS) 12.5% HIGHER; raises its Q3 EPS guidance to 22-24c and sales guidance to $156-$157 million. The Street is currently looking for Q3 EPS and sales of 19c and $152.68 million, respectively.
VIVUS (Nasdaq: VVUS) 12.3% HIGHER; see Orexigen.
Threshold Pharmaceuticals, Inc. (Nasdaq: THLD) 11.9% HIGHER; today announced two preclinical presentations on its clinical stage hypoxia-activated prodrug, TH-302, at the American Association for Cancer Research Translational Cancer Medicine Meeting, being held July 11 to 14, 2010, in San Francisco, CA. The preclinical presentations describe new findings regarding the efficacy of TH-302 when combined with multi-kinase inhibitors that inhibit VEGF signaling, as well as the efficacy of TH-302 in combination with gemcitabine in models of pancreatic cancer. View the release for more details.
American Electric Technologies, Inc. (Nasdaq: AETI) 11.8% HIGHER; today at Intersolar North America 2010 introduced its Integrated Solar Inversion Station™, the industry's first completely pre-commissioned, utility-grade, 1MW, direct-to-medium voltage solar inverter system designed to provide greater, more reliable operating power for solar farms in the harshest environments.
Flagstar Bancorp, Inc. (NYSE: FBC) 10.8% HIGHER; announced today that, based on notice received from the New York Stock Exchange, Flagstar was once again in compliance with the NYSE's continued listing requirement of a minimum average closing price of $1.00 per share over a consecutive 30-trading-day period. As a result, the ".BC" indicator following Flagstar's stock symbol will be removed by the NYSE.
Active Power (NASDAQ: ACPW) 10.5% HIGHER; announced today sales volume from its OEM partnership with Caterpillar, Inc. (NYSE: CAT) continues to increase. Caterpillar ordered 83 flywheels utilized within the company’s high efficiency flywheel based UPS (uninterruptible power supply) systems in the first half of 2010 compared to 28 flywheels ordered in the same period of 2009, a nearly 200 percent increase.
MBIA Inc. (NYSE: MBI) 10.3% HIGHER; Bruce Berkowitz's Fairholme Capital disclosed an 11.1%, or 22,736,200 share, stake in the embattled bond insurer. The firm did not show a common share stake at the quarter ended March 31, 2010.
Raser Technologies, Inc. (NYSE: RZ) 10.3% HIGHER; announced today that it has entered into an agreement with the senior secured lender that provided the debt financing for the Thermo No. 1 geothermal power plant to repay a substantial portion of the debt. Under the arrangement, the lender will receive an immediate payment of $27 million out of project escrow accounts and will waive compliance with applicable debt-related covenants and obligations for the next year. In addition, Raser will make an additional payment of up to $6 million before June 29, 2011. Click here to see the full report.
Radient Pharmaceuticals Corporation (AMEX: RPC) 10% HIGHER; announced today that it has entered into a letter of intent to acquire Provista Diagnostics Inc., a Nevada corporation offering laboratory testing services that meet the Clinical Laboratory Improvement Act guidelines. Click here to see the full report.
BioMimetic Therapeutics, Inc. (Nasdaq: BMTI) 9.4% LOWER; announced today a public offering of 5,000,000 shares of its common stock. BioMimetic has granted the underwriters an option to purchase up to an additional 15% of shares of common stock to cover over-allotments. BioMimetic expects to use the net proceeds of the offering for development and commercialization of its product pipeline and general corporate purposes.
Insituform Technologies (Nasdaq: INSU) 8.9% HIGHER; Stifel Nicolaus upgrades INSU from Hold to Buy.
ATP Oil & Gas (Nasdaq: ATPG) 8.8% LOWER; J.P. Morgan downgrades the stock from Neutral to Underweight. PT $10.
To get this report daily visit http://www.streetinsider.com/entities/Morning+Movers.
Amedisys, Inc. (NASDAQ: AMED) 24% LOWER; sees Q2 EPS of $1.12, including items. Click here to see the full report. The stock was also downgraded at RBC.
Stereotaxis, Inc. (Nasdaq: STXS) 22.5% HIGHER; announced today that its new capital order momentum continued to build in the second quarter of 2010. The Company generated new capital orders of $10.2 million, more than doubling new capital orders from the 2009 second quarter and representing a 42% sequential increase over orders in the first quarter of 2010. New orders from North America totaled $5.1 million of the total orders in the quarter.
CommVault (NASDAQ: CVLT) 20.8% LOWER; expects to report revenue for the first quarter of approximately $66.3 million. (Consensus is $71.55 million) Software revenue is expected to be approximately $28.3 million and services revenue is expected to be approximately $38.0 million. Non-GAAP earnings per diluted share are expected to be approximately $0.11 using a Non-GAAP effective tax rate of 34%. (Consensus is $0.17) The stock was also downgraded at Stifel Nicolaus.
BPZ Resources, Inc. (NYSE: BPZ) 18.7% LOWER; announces completion of its CX11-22D well and spudding of the CX11-23D well in Corvina, and provides an update on production, Albacora oil sales, and status of the Extended Well Testing permitting process. Click here to see the full report. The stock was also downgraded at Morgan Keegan.
Orexigen (Nasdaq: OREX) 16.6% HIGHER; seeing upside today following news that an FDA advisory panel has said that Vivus' diet pill led to "statistically significant" weight loss.
Brooks Automation (Nasdaq: BRKS) 12.5% HIGHER; raises its Q3 EPS guidance to 22-24c and sales guidance to $156-$157 million. The Street is currently looking for Q3 EPS and sales of 19c and $152.68 million, respectively.
VIVUS (Nasdaq: VVUS) 12.3% HIGHER; see Orexigen.
Threshold Pharmaceuticals, Inc. (Nasdaq: THLD) 11.9% HIGHER; today announced two preclinical presentations on its clinical stage hypoxia-activated prodrug, TH-302, at the American Association for Cancer Research Translational Cancer Medicine Meeting, being held July 11 to 14, 2010, in San Francisco, CA. The preclinical presentations describe new findings regarding the efficacy of TH-302 when combined with multi-kinase inhibitors that inhibit VEGF signaling, as well as the efficacy of TH-302 in combination with gemcitabine in models of pancreatic cancer. View the release for more details.
American Electric Technologies, Inc. (Nasdaq: AETI) 11.8% HIGHER; today at Intersolar North America 2010 introduced its Integrated Solar Inversion Station™, the industry's first completely pre-commissioned, utility-grade, 1MW, direct-to-medium voltage solar inverter system designed to provide greater, more reliable operating power for solar farms in the harshest environments.
Flagstar Bancorp, Inc. (NYSE: FBC) 10.8% HIGHER; announced today that, based on notice received from the New York Stock Exchange, Flagstar was once again in compliance with the NYSE's continued listing requirement of a minimum average closing price of $1.00 per share over a consecutive 30-trading-day period. As a result, the ".BC" indicator following Flagstar's stock symbol will be removed by the NYSE.
Active Power (NASDAQ: ACPW) 10.5% HIGHER; announced today sales volume from its OEM partnership with Caterpillar, Inc. (NYSE: CAT) continues to increase. Caterpillar ordered 83 flywheels utilized within the company’s high efficiency flywheel based UPS (uninterruptible power supply) systems in the first half of 2010 compared to 28 flywheels ordered in the same period of 2009, a nearly 200 percent increase.
MBIA Inc. (NYSE: MBI) 10.3% HIGHER; Bruce Berkowitz's Fairholme Capital disclosed an 11.1%, or 22,736,200 share, stake in the embattled bond insurer. The firm did not show a common share stake at the quarter ended March 31, 2010.
Raser Technologies, Inc. (NYSE: RZ) 10.3% HIGHER; announced today that it has entered into an agreement with the senior secured lender that provided the debt financing for the Thermo No. 1 geothermal power plant to repay a substantial portion of the debt. Under the arrangement, the lender will receive an immediate payment of $27 million out of project escrow accounts and will waive compliance with applicable debt-related covenants and obligations for the next year. In addition, Raser will make an additional payment of up to $6 million before June 29, 2011. Click here to see the full report.
Radient Pharmaceuticals Corporation (AMEX: RPC) 10% HIGHER; announced today that it has entered into a letter of intent to acquire Provista Diagnostics Inc., a Nevada corporation offering laboratory testing services that meet the Clinical Laboratory Improvement Act guidelines. Click here to see the full report.
BioMimetic Therapeutics, Inc. (Nasdaq: BMTI) 9.4% LOWER; announced today a public offering of 5,000,000 shares of its common stock. BioMimetic has granted the underwriters an option to purchase up to an additional 15% of shares of common stock to cover over-allotments. BioMimetic expects to use the net proceeds of the offering for development and commercialization of its product pipeline and general corporate purposes.
Insituform Technologies (Nasdaq: INSU) 8.9% HIGHER; Stifel Nicolaus upgrades INSU from Hold to Buy.
ATP Oil & Gas (Nasdaq: ATPG) 8.8% LOWER; J.P. Morgan downgrades the stock from Neutral to Underweight. PT $10.
To get this report daily visit http://www.streetinsider.com/entities/Morning+Movers.
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