Morning Movers 7/15: TRGT, BEXP, GCI, LOCM, NIV, ALU Higher; PAR, OXGN, JNS, HRAY, JBHT, YUM Lower
Targacept, Inc. (NASDAQ: TRGT) 70% HIGHER; announced positive top-line results from a double blind, placebo controlled, flexible dose Phase 2b clinical trial of TC-5214 as an augmentation (add-on) treatment for major depressive disorder, or MDD, in subjects who did not respond adequately to first-line treatment with citalopram alone. Click here for the full report.
Brigham Exploration Company (NASDAQ: BEXP) 22.1% HIGHER; announced that the Strobeck 27-34 #1H produced approximately 2,021 barrels of oil equivalent per day from the Three Forks formation during its early 24 hour flow back period. Brigham also provided an update on its operated and non-operated drilling activity in the Williston Basin. Click here for the full report.
3PAR (NYSE: PAR) 21% LOWER; sees Q1 sales of $44.2-$44.5 million, versus the company's earlier guidance of $48-$50 million and the consensus of $49.1 million. 3PAR sees a non-GAAP loss for the quarter in the range of $0.01-$0.00, versus the consensus of $0.01 profit. Sees FY10 sales of $190-$205 million. The company said, "Assuming our gross margins remain in the range of recently experienced levels, for the full year of fiscal 2010, the Company expects non-GAAP earnings per share to be in the range of $0.00 to $0.10."
Gannett Co., Inc. (NYSE: GCI) 17.5% HIGHER; reports Q2 non-GAAP EPS of $0.46, 10 cents better than the analyst estimate of $0.36. Revenue for the quarter was $1.41 billion, versus the consensus of $1.46 billion.
Local.com Corporation (NASDAQ: LOCM) 16.6% HIGHER; sees Q2 sales of $13.4-$13.7 million, exceeding the high end of its prior guidance of $13.2 million. Sees adj-EPS of $0.05-$0.07, also exceeding the high end of its prior guidance looking for $0.03 per share. The Street is currently expecting Q2 sales of $13.01 million and a loss of $0.05.
NIVS IntelliMedia Technology Group (NYSE: NIV) 15% HIGHER; announced it has won a contract worth approximately $20 million to supply OEM notebooks to a Hong Kong-based distributor. Under the terms of the contract, NIVS will manufacture and assemble 30,000 notebook units for the Distributor from now until the end of 2009. The Distributor will then sell the OEM notebooks to end customers in overseas markets. The contract will be reviewed at the end of the year.
OXiGENE, Inc. (Nasdaq: OXGN) 14.1% LOWER; announced that it will raise approximately $10 million in gross proceeds, before deducting placement agent fees and other estimated offering expenses, in a registered direct offering of 6.25 million units, at a price of $1.60 per unit. Click here for the full report.
Alcatel-Lucent (NYSE: ALU) 12.5% HIGHER; Bank of America upgrades the stock from Underperform to Buy and maintains their $2.80 price target.
China-Biotics, Inc. (Nasdaq: CHBT) 12.3% HIGHER; reports Q4 EPS of $0.33, ex-items, 8 cents better than the analyst estimate of $0.25. Revenue for the quarter was $15.5 million, versus the consensus of $15.87 million.
China Information Security Technology, Inc., (Nasdaq: CPBY) 11.3% HIGHER; today announced that its newly signed contracts in Q209 were valued at approximately $26.28 million, an increase of over 42% compared to the contracts signed during Q109. Click here for the full report.
Ceragon Networks Ltd. (NASDAQ: CRNT) 10% HIGHER; today announced that it has signed a multi-year global supply agreement with the Hutchison 3 Group, a leading global player in the 3G telecommunications arena. Click here for the full report.
Janus Capital Group Inc. (NYSE: JNS) 8.7% LOWER; today announced that it has commenced a public offering of $150 million of its common stock and $150 million principal amount of convertible senior notes due in 2014. Also reported Q2 EPS of $0.10, 3 cents better than the analyst estimate of $0.07. Revenue for the quarter was $200.2 million, versus the consensus of $179.34 million. The JCG Board of Directors also announced today that Gary Black has resigned as CEO, effective July 13, 2009. Tim Armour, a Janus Capital Group Director, has been named CEO on an interim basis.
The Lubrizol Corporation (NYSE: LZ) 8.6% HIGHER; sees Q2 adj-EPS of $2.02, which compares to the Street estimate of $1.21.
Hurray! (Nasdaq: HRAY) 7.8% LOWER; Shanda Interactive Entertainment Limited (Nasdaq: SNDA) today announced the expiration and preliminary results of the tender offer for 1,155,045,300 ordinary shares, par value $0.00005 per share, of Hurray! Holding Co., including Shares represented by American Depositary Shares, at a purchase price of $0.04 per Share (equivalent to $4.00 per ADS) in cash, without interest and subject to any applicable withholding taxes. Click here for the full report.
J. B. Hunt Transport Services, Inc., (NASDAQ: JBHT) 6.4% LOWER; reports Q2 EPS of $0.23, ex-items, versus the analyst estimate of $0.31. Revenue for the quarter was $770 million, versus the consensus of $799.44 million.
Yum! Brands, Inc. (NYSE: YUM) 4.9% LOWER; reports Q2 EPS of $0.63, or $0.50 ex-items, 7 cents better than the analyst estimate of $0.43. Revenue for the quarter was $2.48 billion, versus the consensus of $2.50 billion. Reaffirms forecast. Reduces expectations for same stores sales around the world but raises its restaurant margin expectations due to deflation in commodity costs.
Texas Industries Inc. (NYSE: TXI) 4.4% LOWER; reported Q4 adjusted loss of $0.12, versus the consensus of a $0.06 loss. Revenues came in at $182.3 million, versus the consensus of $193.9 million.
To get this report daily, visit http://www.streetinsider.com/entities/Morning+Movers.
Brigham Exploration Company (NASDAQ: BEXP) 22.1% HIGHER; announced that the Strobeck 27-34 #1H produced approximately 2,021 barrels of oil equivalent per day from the Three Forks formation during its early 24 hour flow back period. Brigham also provided an update on its operated and non-operated drilling activity in the Williston Basin. Click here for the full report.
3PAR (NYSE: PAR) 21% LOWER; sees Q1 sales of $44.2-$44.5 million, versus the company's earlier guidance of $48-$50 million and the consensus of $49.1 million. 3PAR sees a non-GAAP loss for the quarter in the range of $0.01-$0.00, versus the consensus of $0.01 profit. Sees FY10 sales of $190-$205 million. The company said, "Assuming our gross margins remain in the range of recently experienced levels, for the full year of fiscal 2010, the Company expects non-GAAP earnings per share to be in the range of $0.00 to $0.10."
Gannett Co., Inc. (NYSE: GCI) 17.5% HIGHER; reports Q2 non-GAAP EPS of $0.46, 10 cents better than the analyst estimate of $0.36. Revenue for the quarter was $1.41 billion, versus the consensus of $1.46 billion.
Local.com Corporation (NASDAQ: LOCM) 16.6% HIGHER; sees Q2 sales of $13.4-$13.7 million, exceeding the high end of its prior guidance of $13.2 million. Sees adj-EPS of $0.05-$0.07, also exceeding the high end of its prior guidance looking for $0.03 per share. The Street is currently expecting Q2 sales of $13.01 million and a loss of $0.05.
NIVS IntelliMedia Technology Group (NYSE: NIV) 15% HIGHER; announced it has won a contract worth approximately $20 million to supply OEM notebooks to a Hong Kong-based distributor. Under the terms of the contract, NIVS will manufacture and assemble 30,000 notebook units for the Distributor from now until the end of 2009. The Distributor will then sell the OEM notebooks to end customers in overseas markets. The contract will be reviewed at the end of the year.
OXiGENE, Inc. (Nasdaq: OXGN) 14.1% LOWER; announced that it will raise approximately $10 million in gross proceeds, before deducting placement agent fees and other estimated offering expenses, in a registered direct offering of 6.25 million units, at a price of $1.60 per unit. Click here for the full report.
Alcatel-Lucent (NYSE: ALU) 12.5% HIGHER; Bank of America upgrades the stock from Underperform to Buy and maintains their $2.80 price target.
China-Biotics, Inc. (Nasdaq: CHBT) 12.3% HIGHER; reports Q4 EPS of $0.33, ex-items, 8 cents better than the analyst estimate of $0.25. Revenue for the quarter was $15.5 million, versus the consensus of $15.87 million.
China Information Security Technology, Inc., (Nasdaq: CPBY) 11.3% HIGHER; today announced that its newly signed contracts in Q209 were valued at approximately $26.28 million, an increase of over 42% compared to the contracts signed during Q109. Click here for the full report.
Ceragon Networks Ltd. (NASDAQ: CRNT) 10% HIGHER; today announced that it has signed a multi-year global supply agreement with the Hutchison 3 Group, a leading global player in the 3G telecommunications arena. Click here for the full report.
Janus Capital Group Inc. (NYSE: JNS) 8.7% LOWER; today announced that it has commenced a public offering of $150 million of its common stock and $150 million principal amount of convertible senior notes due in 2014. Also reported Q2 EPS of $0.10, 3 cents better than the analyst estimate of $0.07. Revenue for the quarter was $200.2 million, versus the consensus of $179.34 million. The JCG Board of Directors also announced today that Gary Black has resigned as CEO, effective July 13, 2009. Tim Armour, a Janus Capital Group Director, has been named CEO on an interim basis.
The Lubrizol Corporation (NYSE: LZ) 8.6% HIGHER; sees Q2 adj-EPS of $2.02, which compares to the Street estimate of $1.21.
Hurray! (Nasdaq: HRAY) 7.8% LOWER; Shanda Interactive Entertainment Limited (Nasdaq: SNDA) today announced the expiration and preliminary results of the tender offer for 1,155,045,300 ordinary shares, par value $0.00005 per share, of Hurray! Holding Co., including Shares represented by American Depositary Shares, at a purchase price of $0.04 per Share (equivalent to $4.00 per ADS) in cash, without interest and subject to any applicable withholding taxes. Click here for the full report.
J. B. Hunt Transport Services, Inc., (NASDAQ: JBHT) 6.4% LOWER; reports Q2 EPS of $0.23, ex-items, versus the analyst estimate of $0.31. Revenue for the quarter was $770 million, versus the consensus of $799.44 million.
Yum! Brands, Inc. (NYSE: YUM) 4.9% LOWER; reports Q2 EPS of $0.63, or $0.50 ex-items, 7 cents better than the analyst estimate of $0.43. Revenue for the quarter was $2.48 billion, versus the consensus of $2.50 billion. Reaffirms forecast. Reduces expectations for same stores sales around the world but raises its restaurant margin expectations due to deflation in commodity costs.
Texas Industries Inc. (NYSE: TXI) 4.4% LOWER; reported Q4 adjusted loss of $0.12, versus the consensus of a $0.06 loss. Revenues came in at $182.3 million, versus the consensus of $193.9 million.
To get this report daily, visit http://www.streetinsider.com/entities/Morning+Movers.
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