Morning Movers 8/13: UNCA, PRXI, DYN, ALY, TRBN, WLDN, FTK Higher; TGAL, TSTC, PDLI, ADES Lower
Unica Corporation (Nasdaq: UNCA) 117.3% HIGHER; IBM (NYSE: IBM) and Unica today announced they have entered into a definitive agreement for IBM to acquire Unica in a cash transaction at a price of $21 per share, or at a net price of approximately $480 million, after adjusting for cash.
Premier Exhibitions, Inc. (Nasdaq: PRXI) 61.2% HIGHER; today announced that the United States District Court for the Eastern District of Virginia, Norfolk Division, has issued an opinion granting a salvage award to RMS Titanic Inc., a wholly owned subsidiary of the Company. The salvage award is based upon the Company's work in recovering and conserving over three thousand artifacts from the wreck of Titanic during its expeditions conducted in 1993, 1994, 1996, 1998, 2000, and 2004. The Company has been awarded 100% of the fair market value of the artifacts, which the Court set at approximately one hundred ten million dollars.
Dynegy Inc. (NYSE: DYN) 59.4% HIGHER; today announced that it has entered into a definitive merger agreement pursuant to which it will be acquired by an affiliate of The Blackstone Group L.P. (NYSE: BX) in a transaction valued at approximately $4.7 billion, including the assumption of existing debt. Under the terms of the merger agreement, Dynegy stockholders will receive $4.50 in cash for each outstanding share of Dynegy common stock they own.
Allis-Chalmers Energy Inc. (NYSE: ALY) 52.2% HIGHER; Seawell Limited and Allis-Chalmers Energy today announced that their Boards of Directors have unanimously approved a definitive merger agreement providing for the acquisition of Allis-Chalmers by Seawell in a transaction valued at approximately USD 890 million.
Trubion Pharma (Nasdaq: TRBN) 47.7% HIGHER; announces that it has agreed to be acquired by Emergent Biosolutions (NYSE: EBS) for $1.365/share in cash and 0.1641 shares of Emergent.
Tegal Corp. (Nasdaq: TGAL) 21.7% LOWER; reports Q1 loss of $0.29, versus a loss of $0.31 reported for the same period a year ago. Revenue for the quarter was $300,000 compared to $1.1 million in Q110.
Willdan Group, Inc. (Nasdaq: WLDN) 20.3% HIGHER; reports Q2 EPS of $0.17, versus ($0.12) reported for the same period a year ago. Revenue for the quarter was $20.4 million, compared to $15.5 million in Q209.
Telestone Technologies Corp. (Nasdaq: TSTC) 18.6% LOWER; reports Q2 EPS of $0.16, vs. the analyst estimate of $0.54. Revenue for the quarter was $16.6 million, which compares to the estimate of $34.90 million.
PDL BioPharma, Inc. (Nasdaq: PDLI) 16.2% LOWER; has received a facsimile letter from Genentech (NYSE: DNA) asserting that Avastin®, Herceptin®, Lucentis® and Xolair® (the Genentech Products) do not infringe supplementary protection certificates granted by various countries in Europe to PDL and is seeking a response from PDL to these assertions. The letter was received at 4:00 pm PDT on Wednesday, August 11, 2010.
Flotek Industries, Inc. (NYSE: FTK) 14% HIGHER; reports Q2 loss of $0.28, versus the analyst estimate of ($0.25). Revenue for the quarter was $31.2 million, which compares to the estimate of $28.63 million.
ADA-ES, Inc. (Nasdaq: ADES) 14.8% LOWER; reports Q2 operating loss of $0.50, versus the analyst estimate of ($0.30). Revenue for the quarter was $1.9 million, which compares to the estimate of $5.36 million.
Superior Industries International, Inc. (NYSE: SUP) 11.8% HIGHER; reports Q2 EPS of $0.38, versus the analyst estimate of $0.21. Revenue for the quarter was $194.6 million, which compares to the estimate of $156.90 million.
Arena Pharma (Nasdaq: ARNA) 9.1% LOWER; a NYTimes article is highlighting results of a study that found Arena's obesity drug rimonabant did not lower the risk of heart attacks and other cardiovascular problems when compared to a placebo.
GlobalScape Inc. (AMEX: GSB) 8.6% LOWER; reports Q2 EPS of $0.01, versus $0.05 reported for the same period a year ago. Revenue for the quarter was $4.5 million, compared to $4.7 million in Q209.
Bottomline Technologies, Inc. (Nasdaq: EPAY) 8.5% HIGHER; reports Q2 Core EPS of $0.24, in-line with the analyst estimate of $0.24. Revenue for the quarter was $41.5 million, which compares to the estimate of $39.80 million.
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