Morning Movers 8/10: CCBP, RMX, ZSTN, QNST, DUCK, PSEM Higher; CYRX, SCLN, HQS, ABK, JAG, PEGA, AGM, ANSW, MR Lower
Comm Bancorp, Inc. (Nasdaq: CCBP) 50.2% HIGHER; F.N.B. Corporation (NYSE: FNB) and Comm Bancorp jointly announce the signing of a definitive merger agreement pursuant to which F.N.B. Corporation will acquire Comm Bancorp, Inc. in a stock and cash transaction valued at approximately $70 million. Under the terms of the merger agreement, which has been unanimously approved by the boards of directors of both companies, shareholders of Comm Bancorp, Inc. will be entitled to receive a fixed exchange ratio of 3.4545 shares of F.N.B. Corporation common stock and $10.00 in cash for each share of Comm Bancorp.
CryoPort, Inc. (OTCBB: CYRX) 47.6% LOWER; today announced that it has signed agreements with various institutional and accredited investors for the private placement of an aggregate of approximately 4.5 million shares of common stock and warrants to purchase approximately 4.5 million shares of its common stock at an exercise price of $1.62 per share pursuant to a Securities Purchase Agreement. The Company will receive net proceeds of $3.0 million.
Ready Mix (AMEX: RMX) 32.1% HIGHER; the stock has broken out after announcing a $1.32 per share special dividend yesterday morning. Shares surged almost 20% yesterday and are now approaching the $3 level.
SciClone (Nasdaq: SCLN) 30.5% LOWER; are taking a tumble this morning as the company reported that they have been contacted by the U.S. SEC for an investigation. According to the company's Q210 earnings press release: "Subsequent to the end of the quarter, as disclosed in the Company's 10Q to be filed today with the SEC, SciClone has been contacted by the SEC and advised that the SEC has initiated a formal, non-public investigation of SciClone. The Company has also been contacted by the DoJ who requested that the Company meet with the DOJ regarding its compliance with the Foreign Corrupt Practices Act... The Company intends to fully cooperate with the SEC and the DOJ in these matters." The stock was also downgraded at BWS Financial.
ZST Digital Networks, Inc. (Nasdaq: ZSTN) 25.1% HIGHER; reports Q2 EPS of $0.45, versus $0.30 reported for the same period a year ago. Revenue for the quarter was $33.0 million, compared to $23.7 million in Q209.
HQ Sustainable Maritime Industries, Inc. (AMEX: HQS) 24% LOWER; today announced the pricing of a follow-on public offering of 3,202,999 units at $3.6125 per unit for an aggregate of 3,202,999 shares of common stock and warrants to acquire 1,601,499 shares of common stock. Each unit consists of one common share and 0.5 of a warrant, with a per share exercise price of $4.5156.
Ambac (NYSE: ABK) 23.6% LOWER; reports Q2 loss of $0.20, versus a loss of $8.24 reported for the same period a year ago. Revenue for the quarter was $381.2 million, compared to a loss of $476.88 million in Q209.
Jaguar Mining (AMEX: JAG) 21.4% LOWER; reports Q2 loss of $0.07, versus a gain of $0.12 reported for the same period a year ago. Revenue for the quarter was $36.9 million, compared to $32.79 million in Q209. The stock was also downgraded at RBC Capital.
Pegasystems Inc. (Nasdaq: PEGA) 17.9% LOWER; reports Q2 non-GAAP EPS of $0.10, versus the analyst estimate of $0.16. Revenue for the quarter was $85.8 million, which compares to the estimate of $84.95 million.
Federal Agricultural Mortgage (NYSE: AGM) 16.2% LOWER; reports Q2 EPS of $0.50, versus $0.46 reported for the same period a year ago.
Answers Corporation (Nasdaq: ANSW) 15.4% LOWER; reports Q2 net income of $2.12 million, vs. a loss of $3.619 million in the same quarter last year. Revenue for the quarter was $5.02 million, which compares to the estimate of $4.99 million.
Mindray Medical International Limited (NYSE: MR) 15.1% LOWER; reports Q2 non-GAAP EPS of $0.39, 5 cents better than the analyst estimate of $0.34. Revenue for the quarter was $179.2 million, which compares to the estimate of $186.77 million. Sees FY10 revs of about $700 million and a 10% increase in FY10 non-GAAP income. Consensus sees revs of $745.54 million. The stock was also downgraded at Soleil.
AC Moore Arts & Crafts, Inc. (Nasdaq: ACMR) 14.4% LOWER; reports Q2 loss of $0.40, versus the analyst estimate of ($0.28). Revenue for the quarter was $99.9 million, which compares to the estimate of $106.08 million.
ARYx Therapeutics (Nasdaq: ARYX) 13.9% LOWER; correcting today following a 30% surge yesterday. Volume is very heavy today.
Poniard Pharmaceuticals, Inc. (Nasdaq: PARD) 13.8% LOWER; reports Q2 loss of $0.14, 5 cents better than the analyst estimate of ($0.19).
QuinStreet, Inc. (Nasdaq: QNST) 12% HIGHER; reports Q4 EPS of $0.24, 6 cents better than the analyst estimate of $0.18. Revenue for the quarter was $88.5 million, which compares to the estimate of $85.45 million. The stock was also upgraded to Strong Buy at Needham.
Nuance Communications, Inc. (Nasdaq: NUAN) 10.8% LOWER; reports Q3 non-GAAP EPS of $0.30, 1 cent better than the analyst estimate of $0.29. Revenue for the quarter was $293.40 million, which compares to the estimate of $300.37 million. The stock was also downgraded at Goldman.
Doral Financial (NYSE: DRL) 10.5% LOWER; the stock continues to trade just below its 200-day SMA. The stock fell 12% on Thursday of last week and 16% yesterday.
Duckwall-ALCO (Nasdaq: DUCK) 9.7% HIGHER; looks like its trading higher amid a bullish SeekingAlpha article entitled "Underfollowed and Overlooked".
Pericom Semi (Nasdaq: PSEM) 9.3% HIGHER; reports Q4 EPS of $0.15, 2 cents better than the analyst estimate of $0.13. Revenue for the quarter was $41.5 million, which compares to the estimate of $41 million. Sees Q1 sales of $40.5-$42.5 million. Sees Q1 gross margin of 36-38%. The stock was also upgraded to Strong Buy at Raymond James.
Hauppauge Digital (Nasdaq: HAUP) 9.1% HIGHER; shares appear to have broken above the 200-day smooth moving average just after the open. Not hearing any company-specific news but volume is extremely heavy.
Grand Canyon Education, Inc. (Nasdaq: LOPE) 8.8% LOWER; reports Q2 EPS of $0.27, 3 cents better than the analyst estimate of $0.24. Revenue for the quarter was $97.5 million, which compares to the estimate of $94.04 million. Sees Q3 EPS of $0.28-$0.30, versus $0.32 consensus. The stock was also downgraded at RBC Capital.
JA Solar Holdings Ltd. (Nasdaq: JASO) 8.7% LOWER; reports Q2 EPS of $0.27, ex-items, 3 cents better than the analyst estimate of $0.24. Revenue for the quarter was $351.2 million, which compares to the estimate of $303.81 million. Based on strong customer demand for JA Solar's products, the company is raising its outlook for the full year of 2010. The company currently expects shipments to exceed 1.35GW in 2010, compared with prior guidance of 1GW. Shipments in the third quarter of 2010 are expected to be approximately 375MW.
AgFeed Industries, Inc. (Nasdaq: FEED) 8.3% LOWER; reports Q2 loss of $0.07, versus $0.03 reported for the same period a year ago. Revenue for the quarter was $37.66 million, compared to $38.53 million in Q209.
Capstone Turbine Corp. (Nasdaq: CPST) 8.1% LOWER; reports Q1 adj-loss of $0.05, 1 cent worse than the analyst estimate of ($0.04). Revenue for the quarter was $16.1 million, which compares to the estimate of $17.57 million. The stock was also downgraded at Ardour Capital.
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CryoPort, Inc. (OTCBB: CYRX) 47.6% LOWER; today announced that it has signed agreements with various institutional and accredited investors for the private placement of an aggregate of approximately 4.5 million shares of common stock and warrants to purchase approximately 4.5 million shares of its common stock at an exercise price of $1.62 per share pursuant to a Securities Purchase Agreement. The Company will receive net proceeds of $3.0 million.
Ready Mix (AMEX: RMX) 32.1% HIGHER; the stock has broken out after announcing a $1.32 per share special dividend yesterday morning. Shares surged almost 20% yesterday and are now approaching the $3 level.
SciClone (Nasdaq: SCLN) 30.5% LOWER; are taking a tumble this morning as the company reported that they have been contacted by the U.S. SEC for an investigation. According to the company's Q210 earnings press release: "Subsequent to the end of the quarter, as disclosed in the Company's 10Q to be filed today with the SEC, SciClone has been contacted by the SEC and advised that the SEC has initiated a formal, non-public investigation of SciClone. The Company has also been contacted by the DoJ who requested that the Company meet with the DOJ regarding its compliance with the Foreign Corrupt Practices Act... The Company intends to fully cooperate with the SEC and the DOJ in these matters." The stock was also downgraded at BWS Financial.
ZST Digital Networks, Inc. (Nasdaq: ZSTN) 25.1% HIGHER; reports Q2 EPS of $0.45, versus $0.30 reported for the same period a year ago. Revenue for the quarter was $33.0 million, compared to $23.7 million in Q209.
HQ Sustainable Maritime Industries, Inc. (AMEX: HQS) 24% LOWER; today announced the pricing of a follow-on public offering of 3,202,999 units at $3.6125 per unit for an aggregate of 3,202,999 shares of common stock and warrants to acquire 1,601,499 shares of common stock. Each unit consists of one common share and 0.5 of a warrant, with a per share exercise price of $4.5156.
Ambac (NYSE: ABK) 23.6% LOWER; reports Q2 loss of $0.20, versus a loss of $8.24 reported for the same period a year ago. Revenue for the quarter was $381.2 million, compared to a loss of $476.88 million in Q209.
Jaguar Mining (AMEX: JAG) 21.4% LOWER; reports Q2 loss of $0.07, versus a gain of $0.12 reported for the same period a year ago. Revenue for the quarter was $36.9 million, compared to $32.79 million in Q209. The stock was also downgraded at RBC Capital.
Pegasystems Inc. (Nasdaq: PEGA) 17.9% LOWER; reports Q2 non-GAAP EPS of $0.10, versus the analyst estimate of $0.16. Revenue for the quarter was $85.8 million, which compares to the estimate of $84.95 million.
Federal Agricultural Mortgage (NYSE: AGM) 16.2% LOWER; reports Q2 EPS of $0.50, versus $0.46 reported for the same period a year ago.
Answers Corporation (Nasdaq: ANSW) 15.4% LOWER; reports Q2 net income of $2.12 million, vs. a loss of $3.619 million in the same quarter last year. Revenue for the quarter was $5.02 million, which compares to the estimate of $4.99 million.
Mindray Medical International Limited (NYSE: MR) 15.1% LOWER; reports Q2 non-GAAP EPS of $0.39, 5 cents better than the analyst estimate of $0.34. Revenue for the quarter was $179.2 million, which compares to the estimate of $186.77 million. Sees FY10 revs of about $700 million and a 10% increase in FY10 non-GAAP income. Consensus sees revs of $745.54 million. The stock was also downgraded at Soleil.
AC Moore Arts & Crafts, Inc. (Nasdaq: ACMR) 14.4% LOWER; reports Q2 loss of $0.40, versus the analyst estimate of ($0.28). Revenue for the quarter was $99.9 million, which compares to the estimate of $106.08 million.
ARYx Therapeutics (Nasdaq: ARYX) 13.9% LOWER; correcting today following a 30% surge yesterday. Volume is very heavy today.
Poniard Pharmaceuticals, Inc. (Nasdaq: PARD) 13.8% LOWER; reports Q2 loss of $0.14, 5 cents better than the analyst estimate of ($0.19).
QuinStreet, Inc. (Nasdaq: QNST) 12% HIGHER; reports Q4 EPS of $0.24, 6 cents better than the analyst estimate of $0.18. Revenue for the quarter was $88.5 million, which compares to the estimate of $85.45 million. The stock was also upgraded to Strong Buy at Needham.
Nuance Communications, Inc. (Nasdaq: NUAN) 10.8% LOWER; reports Q3 non-GAAP EPS of $0.30, 1 cent better than the analyst estimate of $0.29. Revenue for the quarter was $293.40 million, which compares to the estimate of $300.37 million. The stock was also downgraded at Goldman.
Doral Financial (NYSE: DRL) 10.5% LOWER; the stock continues to trade just below its 200-day SMA. The stock fell 12% on Thursday of last week and 16% yesterday.
Duckwall-ALCO (Nasdaq: DUCK) 9.7% HIGHER; looks like its trading higher amid a bullish SeekingAlpha article entitled "Underfollowed and Overlooked".
Pericom Semi (Nasdaq: PSEM) 9.3% HIGHER; reports Q4 EPS of $0.15, 2 cents better than the analyst estimate of $0.13. Revenue for the quarter was $41.5 million, which compares to the estimate of $41 million. Sees Q1 sales of $40.5-$42.5 million. Sees Q1 gross margin of 36-38%. The stock was also upgraded to Strong Buy at Raymond James.
Hauppauge Digital (Nasdaq: HAUP) 9.1% HIGHER; shares appear to have broken above the 200-day smooth moving average just after the open. Not hearing any company-specific news but volume is extremely heavy.
Grand Canyon Education, Inc. (Nasdaq: LOPE) 8.8% LOWER; reports Q2 EPS of $0.27, 3 cents better than the analyst estimate of $0.24. Revenue for the quarter was $97.5 million, which compares to the estimate of $94.04 million. Sees Q3 EPS of $0.28-$0.30, versus $0.32 consensus. The stock was also downgraded at RBC Capital.
JA Solar Holdings Ltd. (Nasdaq: JASO) 8.7% LOWER; reports Q2 EPS of $0.27, ex-items, 3 cents better than the analyst estimate of $0.24. Revenue for the quarter was $351.2 million, which compares to the estimate of $303.81 million. Based on strong customer demand for JA Solar's products, the company is raising its outlook for the full year of 2010. The company currently expects shipments to exceed 1.35GW in 2010, compared with prior guidance of 1GW. Shipments in the third quarter of 2010 are expected to be approximately 375MW.
AgFeed Industries, Inc. (Nasdaq: FEED) 8.3% LOWER; reports Q2 loss of $0.07, versus $0.03 reported for the same period a year ago. Revenue for the quarter was $37.66 million, compared to $38.53 million in Q209.
Capstone Turbine Corp. (Nasdaq: CPST) 8.1% LOWER; reports Q1 adj-loss of $0.05, 1 cent worse than the analyst estimate of ($0.04). Revenue for the quarter was $16.1 million, which compares to the estimate of $17.57 million. The stock was also downgraded at Ardour Capital.
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