Morning Movers 8/18: BSDM, CRDC, PTEC, CBC, HEB, JAZZ Higher; APP, CTRN Lower
BSD Medical Corporation (Nasdaq: BSDM) 100.9% HIGHER; today announced that the U.S. FDA has granted the Company a 510(k) clearance to market its MicroThermX Microwave Ablation System (MTX-180) for ablation of soft tissue. Clearance from the FDA of BSD’s 510(k) Premarket Notification submission authorizes the commercial sale of the MTX-180 in the United States.
Cardica, Inc. (Nasdaq: CRDC) 39.8% HIGHER; today announced that Cardica and Intuitive Surgical, Inc. (Nasdaq: ISRG) have entered into a license agreement providing Intuitive with a worldwide, exclusive license to Cardica's intellectual property, which relates to tissue cutting, stapling and clip appliers, for use in the robotics field. Pursuant to the license agreement, Cardica and Intuitive may also enter into future product development agreements. Click here to see the full report.
Phoenix Technologies Ltd. (Nasdaq: PTEC) 24.8% HIGHER; announced an agreement to be acquired by Marlin Equity Partners for $3.85 per share in stock, or approximately $139 million in total consideration.
American Apparel (AMEX: APP) 22.4% LOWER; continuing lower today (under the all-important $1 level) following a nearly 26% slide yesterday amid preliminary Q2 results.
Capitol Bancorp Limited (NYSE: CBC) 20.1% HIGHER; announced today that a Maricopa County Superior Court Judge awarded it more than $14,748,000 in compensatory damages and $30,000,000 in punitive damages. Separately, Grandpoint Capital and Capitol Bancorp Limited jointly announced today the planned sale of Capitol's Tucson operations involving Bank of Tucson and Southern Arizona Community Bank to Grandpoint Capital, Inc.
Hemispherx Biopharma, Inc. (AMEX: HEB) 18.2% HIGHER; today announced that its six-year litigation battle with the South African investment conglomerate JCI Ltd., traded on the Johannesburg Stock Exchange, ended in victory August 11, 2010, with the entry of a $188 million judgment in Hemispherx's favor and against Johannesburg Consolidated Investments and former JCI officers R.B. Kebble and H.C. Buitendag. Click here to see the full report.
Jazz Pharmaceuticals, Inc. (Nasdaq: JAZZ) 14% HIGHER; FDA briefing documents posted. Click here to see the documents.
Citi Trends, Inc. (Nasdaq: CTRN) 11.8% LOWER; reports Q2 loss of $0.06, ex-items, which may not compare to the analyst estimate of $0.07. Revenue for the quarter was $129 million, which compares to the estimate of $137.28 million. Lowers its FY10 EPS guidance from $1.75-$1.80 to $1.60-$1.70.
China Digital TV Holding Company, Ltd. (NYSE: STV) 10.8% HIGHER; reports Q2 EPS of $0.15, 4 cents better than the analyst estimate of $0.11. Revenue for the quarter was $19.1 million, which compares to the estimate of $15.50 million. Sees Q3 sales of $15.9-$16.87 million, which compares to the Street estimate of $14.99 million.
Key Tronic Corp. (Nasdaq: KTCC) 9.9% HIGHER; reports Q4 EPS of $0.22, versus $0.03 reported for the same period a year ago. Revenue for the quarter was $61.9 million, compared to $51.7 million in Q409. Sees Q111 revs of $58 - $61 million and an EPS of $0.71 - $0.20.
Oilsands Quest Inc. (AMEX: BQI) 9% HIGHER; today announced that its Board of Directors has initiated a process to explore strategic alternatives for enhancing shareholder value. The Board's decision reflects careful consideration of OQI's current financial position and the capital required to execute the business plan, as well as recent expressions of interest received from third parties. In light of the significant incremental capital required to advance OQI's oil sands assets in Saskatchewan and Alberta toward commercial development, the Board determined that it is in the best interests of shareholders to hire financial advisors and formally explore all alternatives.
ValueVision Media Inc. (Nasdaq: VVTV) 8.1% HIGHER; reports Q2 loss of $0.24, versus ($0.26) reported for the same period a year ago. Revenue for the quarter was $126.2 million, compared to $119.3 million in Q209.
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Cardica, Inc. (Nasdaq: CRDC) 39.8% HIGHER; today announced that Cardica and Intuitive Surgical, Inc. (Nasdaq: ISRG) have entered into a license agreement providing Intuitive with a worldwide, exclusive license to Cardica's intellectual property, which relates to tissue cutting, stapling and clip appliers, for use in the robotics field. Pursuant to the license agreement, Cardica and Intuitive may also enter into future product development agreements. Click here to see the full report.
Phoenix Technologies Ltd. (Nasdaq: PTEC) 24.8% HIGHER; announced an agreement to be acquired by Marlin Equity Partners for $3.85 per share in stock, or approximately $139 million in total consideration.
American Apparel (AMEX: APP) 22.4% LOWER; continuing lower today (under the all-important $1 level) following a nearly 26% slide yesterday amid preliminary Q2 results.
Capitol Bancorp Limited (NYSE: CBC) 20.1% HIGHER; announced today that a Maricopa County Superior Court Judge awarded it more than $14,748,000 in compensatory damages and $30,000,000 in punitive damages. Separately, Grandpoint Capital and Capitol Bancorp Limited jointly announced today the planned sale of Capitol's Tucson operations involving Bank of Tucson and Southern Arizona Community Bank to Grandpoint Capital, Inc.
Hemispherx Biopharma, Inc. (AMEX: HEB) 18.2% HIGHER; today announced that its six-year litigation battle with the South African investment conglomerate JCI Ltd., traded on the Johannesburg Stock Exchange, ended in victory August 11, 2010, with the entry of a $188 million judgment in Hemispherx's favor and against Johannesburg Consolidated Investments and former JCI officers R.B. Kebble and H.C. Buitendag. Click here to see the full report.
Jazz Pharmaceuticals, Inc. (Nasdaq: JAZZ) 14% HIGHER; FDA briefing documents posted. Click here to see the documents.
Citi Trends, Inc. (Nasdaq: CTRN) 11.8% LOWER; reports Q2 loss of $0.06, ex-items, which may not compare to the analyst estimate of $0.07. Revenue for the quarter was $129 million, which compares to the estimate of $137.28 million. Lowers its FY10 EPS guidance from $1.75-$1.80 to $1.60-$1.70.
China Digital TV Holding Company, Ltd. (NYSE: STV) 10.8% HIGHER; reports Q2 EPS of $0.15, 4 cents better than the analyst estimate of $0.11. Revenue for the quarter was $19.1 million, which compares to the estimate of $15.50 million. Sees Q3 sales of $15.9-$16.87 million, which compares to the Street estimate of $14.99 million.
Key Tronic Corp. (Nasdaq: KTCC) 9.9% HIGHER; reports Q4 EPS of $0.22, versus $0.03 reported for the same period a year ago. Revenue for the quarter was $61.9 million, compared to $51.7 million in Q409. Sees Q111 revs of $58 - $61 million and an EPS of $0.71 - $0.20.
Oilsands Quest Inc. (AMEX: BQI) 9% HIGHER; today announced that its Board of Directors has initiated a process to explore strategic alternatives for enhancing shareholder value. The Board's decision reflects careful consideration of OQI's current financial position and the capital required to execute the business plan, as well as recent expressions of interest received from third parties. In light of the significant incremental capital required to advance OQI's oil sands assets in Saskatchewan and Alberta toward commercial development, the Board determined that it is in the best interests of shareholders to hire financial advisors and formally explore all alternatives.
ValueVision Media Inc. (Nasdaq: VVTV) 8.1% HIGHER; reports Q2 loss of $0.24, versus ($0.26) reported for the same period a year ago. Revenue for the quarter was $126.2 million, compared to $119.3 million in Q209.
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