Morning Movers 8/20: HLCS, ORS, BONT, ANPI, ATV Higher; AVII, CERS, CTRN, SHLD, PETM Lower
Up)
AVI BioPharma, Inc. (NASDAQ: AVII) 25.3% LOWER; announced that it intends to offer shares of its common stock and warrants to purchase shares of its common stock in a public offering. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed.
Helicos BioSciences Corporation (NASDAQ: HLCS) 25% HIGHER; today announced the placement of a Helicos(TM) Genetic Analysis System at the Ontario Institute for Cancer Research with Drs. Tom Hudson and John McPherson.
Orsus Xelent Technologies, Inc. (Amex: ORS) 23.3% HIGHER; reports Q2 EPS of $0.08, compared to $0.05 in the same quarter last year. Revenue for the quarter was $23.3 million, versus $23.33 million in Q208.
The Bon-Ton Stores, Inc. (NASDAQ: BONT) 17.3% HIGHER; reports a Q2 loss of $2.04 vs. consensus for $2.24 loss - may not be comparable. Revenues were $609.2 million compared with $673.4 million in the second quarter of fiscal 2008. (As previously disclosed, in the second quarter of fiscal 2008 the Company recorded a pre-tax charge of $17.8 million to write-off the value of goodwill. On an after-tax basis, this equated to $12.0 million, or a charge of $0.72 per share)
Cerus Corporation (NASDAQ: CERS) 14.9% LOWER; has entered into definitive agreements with selected investors to sell 6,000,000 units, with each unit consisting of (i) one share of the Company's common stock and (ii) a warrant to purchase 0.4 of a share of the Company's common stock for gross proceeds of approximately $13.2 million in a "registered direct" offering. The Company estimates that net proceeds from the offering will be approximately $12.2 million, after deducting placement agent fees and estimated offering expenses. The investors have agreed to purchase the units at a purchase price of $2.20 per unit.
Angiotech Pharmaceuticals, Inc. (NASDAQ: ANPI) 13% HIGHER; today announced the commercial launch of the Option(TM) Inferior Vena Cava Filter in the United States, following FDA 510(k) clearance in June and a limited pre-launch in July. Angiotech holds exclusive worldwide rights to market and distribute the Option IVC Filter, which it obtained in a license agreement with privately held Rex Medical, LP (Rex Medical), as announced in March 2008.
Acorn International, Inc. (NYSE: ATV) 12.5% HIGHER; reports Q2 loss of $0.07, ex-items, compared to a loss of $0.28 in the same quarter last year. Revenue for the quarter was $49 million, versus $42.3 million in Q208. Affirms its FY09 outlook.
Citi Trends, Inc. (Nasdaq: CTRN) 12.5% LOWER; reports Q2 EPS of $0.00, 5 cents lower than the analyst estimate of $0.05. Revenue for the quarter was $111.6 million, versus the consensus of $124.70 million. Same store sales fell 12.4% during the quarter. Revises its FY09 EPS guidance to $1.28-$1.33.
Sears Holdings (Nasdaq: SHLD) 12.4% LOWER; reports Q2 loss of $0.79, or $0.17 ex-items, versus the consensus of a $0.35 profit. Total revenues decreased $1.2 billion to $10.6 billion versus the consensus of $10.73 billion. Domestic comparable store sales declined 8.6% in the aggregate, with Sears Domestic comparable store sales declining 12.5% and Kmart comparable store sales declining 3.9% for the quarter.
PetSmart (Nasdaq: PETM) 12.2% LOWER; reports Q2 EPS of $0.31, 2 cents better than the analyst estimate of $0.29. Revenue for the quarter was $1.31 billion, versus the consensus of $1.32 billion. Q2 same store sales came in up 0.8%. Sees Q3 EPS of $0.20-$0.24, versus the consensus of $0.26, with same store sales flat. Lowers its FY09 EPS guidance from $1.42-$1.52 to $1.37-$1.45.
ReneSola Ltd (NYSE: SOL) 12% HIGHER; announced it has been granted the exclusive right in a letter of intent with the Taiyangshan Development Zone in Wuzhong city, Ningxia Hui Autonomous Region, to develop a 150 megawatt on-grid solar power project with a budgeted total investment of approximately $706 million. The project, which is subject to a feasibility study and government permits and approvals, has a four-year, four-phase construction period that is expected to begin in 2010. The stock was also added to Goldman Sach's Conviction Buy list.
Dick's Sporting Goods, Inc. (NYSE: DKS) 9.8% HIGHER; reports Q2 EPS of $0.36, 5 cents better than the analyst estimate of $0.31. Revenue for the quarter was $1.126 billion, versus the consensus of $1.12 billion. Same store sales fell 4.1% during the quarter. Sees Q3 EPS of $0.04-$0.07, versus the consensus of $0.04. Same store sales are expected to be down 4-6%. Reaffirms its FY09 same store sales guidance: down 4-5%. Raises its FY09 EPS guidance from $0.88-$1.00 to $1.02-$1.07.
ChinaEdu (Nasdaq: CEDU) 8.9% HIGHER; reports Q2 non-GAAP EPS of $0.04, 1 cent lower than the analyst estimate of $0.05. Revenue for the quarter was $12.92 million, versus the consensus of $12.36 million. Sees Q3 sales of $12-$13 million, versus the consensus $12.7 million.
GameStop (NYSE: GME) 8.4% LOWER; reports Q2 EPS of $0.23., 5 cents below the analyst estimate of $0.28. Revenue for the quarter was $1.74 billion, versus the consensus of $1.75 billion. GameStop sees Q3 EPS in the range from $0.27 to $0.33 versus consensus of $0.41. Comparable store sales are projected to range from -11.0% to -6.0%. GameStop sees Q4 EPS range from $1.47 to $1.65, as compared to $1.39 in the prior year period versus $1.65. Comparable store sales are projected to range from -7.0% to -1.0%. For fiscal 2009, GameStop is lowering diluted earnings per share guidance from the previously communicated range of $2.83 to $2.93 to a range of $2.40 to $2.64, representing annual EPS growth of flat to +10% versus consensus of $2.76. Comparable store sales are now projected to range from -8.0% to -4.0% in fiscal 2009.
Hot Topic Inc. (Nasdaq: HOTT) 7.3% LOWER; reports Q2 adj-loss of $0.05, 3 cents better than the analyst estimate of ($0.08). Revenue for the quarter was $157.8 million, versus the consensus of $158.71 million. Sees Q3 EPS of $0.11-$0.13, including a $0.02 expense, versus the consensus of $0.15.
Blue Coat Systems (Nasdaq: BCSI) 6.9% LOWER; downgraded to Hold at Needham.
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Helicos BioSciences Corporation (NASDAQ: HLCS) 25% HIGHER; today announced the placement of a Helicos(TM) Genetic Analysis System at the Ontario Institute for Cancer Research with Drs. Tom Hudson and John McPherson.
Orsus Xelent Technologies, Inc. (Amex: ORS) 23.3% HIGHER; reports Q2 EPS of $0.08, compared to $0.05 in the same quarter last year. Revenue for the quarter was $23.3 million, versus $23.33 million in Q208.
The Bon-Ton Stores, Inc. (NASDAQ: BONT) 17.3% HIGHER; reports a Q2 loss of $2.04 vs. consensus for $2.24 loss - may not be comparable. Revenues were $609.2 million compared with $673.4 million in the second quarter of fiscal 2008. (As previously disclosed, in the second quarter of fiscal 2008 the Company recorded a pre-tax charge of $17.8 million to write-off the value of goodwill. On an after-tax basis, this equated to $12.0 million, or a charge of $0.72 per share)
Cerus Corporation (NASDAQ: CERS) 14.9% LOWER; has entered into definitive agreements with selected investors to sell 6,000,000 units, with each unit consisting of (i) one share of the Company's common stock and (ii) a warrant to purchase 0.4 of a share of the Company's common stock for gross proceeds of approximately $13.2 million in a "registered direct" offering. The Company estimates that net proceeds from the offering will be approximately $12.2 million, after deducting placement agent fees and estimated offering expenses. The investors have agreed to purchase the units at a purchase price of $2.20 per unit.
Angiotech Pharmaceuticals, Inc. (NASDAQ: ANPI) 13% HIGHER; today announced the commercial launch of the Option(TM) Inferior Vena Cava Filter in the United States, following FDA 510(k) clearance in June and a limited pre-launch in July. Angiotech holds exclusive worldwide rights to market and distribute the Option IVC Filter, which it obtained in a license agreement with privately held Rex Medical, LP (Rex Medical), as announced in March 2008.
Acorn International, Inc. (NYSE: ATV) 12.5% HIGHER; reports Q2 loss of $0.07, ex-items, compared to a loss of $0.28 in the same quarter last year. Revenue for the quarter was $49 million, versus $42.3 million in Q208. Affirms its FY09 outlook.
Citi Trends, Inc. (Nasdaq: CTRN) 12.5% LOWER; reports Q2 EPS of $0.00, 5 cents lower than the analyst estimate of $0.05. Revenue for the quarter was $111.6 million, versus the consensus of $124.70 million. Same store sales fell 12.4% during the quarter. Revises its FY09 EPS guidance to $1.28-$1.33.
Sears Holdings (Nasdaq: SHLD) 12.4% LOWER; reports Q2 loss of $0.79, or $0.17 ex-items, versus the consensus of a $0.35 profit. Total revenues decreased $1.2 billion to $10.6 billion versus the consensus of $10.73 billion. Domestic comparable store sales declined 8.6% in the aggregate, with Sears Domestic comparable store sales declining 12.5% and Kmart comparable store sales declining 3.9% for the quarter.
PetSmart (Nasdaq: PETM) 12.2% LOWER; reports Q2 EPS of $0.31, 2 cents better than the analyst estimate of $0.29. Revenue for the quarter was $1.31 billion, versus the consensus of $1.32 billion. Q2 same store sales came in up 0.8%. Sees Q3 EPS of $0.20-$0.24, versus the consensus of $0.26, with same store sales flat. Lowers its FY09 EPS guidance from $1.42-$1.52 to $1.37-$1.45.
ReneSola Ltd (NYSE: SOL) 12% HIGHER; announced it has been granted the exclusive right in a letter of intent with the Taiyangshan Development Zone in Wuzhong city, Ningxia Hui Autonomous Region, to develop a 150 megawatt on-grid solar power project with a budgeted total investment of approximately $706 million. The project, which is subject to a feasibility study and government permits and approvals, has a four-year, four-phase construction period that is expected to begin in 2010. The stock was also added to Goldman Sach's Conviction Buy list.
Dick's Sporting Goods, Inc. (NYSE: DKS) 9.8% HIGHER; reports Q2 EPS of $0.36, 5 cents better than the analyst estimate of $0.31. Revenue for the quarter was $1.126 billion, versus the consensus of $1.12 billion. Same store sales fell 4.1% during the quarter. Sees Q3 EPS of $0.04-$0.07, versus the consensus of $0.04. Same store sales are expected to be down 4-6%. Reaffirms its FY09 same store sales guidance: down 4-5%. Raises its FY09 EPS guidance from $0.88-$1.00 to $1.02-$1.07.
ChinaEdu (Nasdaq: CEDU) 8.9% HIGHER; reports Q2 non-GAAP EPS of $0.04, 1 cent lower than the analyst estimate of $0.05. Revenue for the quarter was $12.92 million, versus the consensus of $12.36 million. Sees Q3 sales of $12-$13 million, versus the consensus $12.7 million.
GameStop (NYSE: GME) 8.4% LOWER; reports Q2 EPS of $0.23., 5 cents below the analyst estimate of $0.28. Revenue for the quarter was $1.74 billion, versus the consensus of $1.75 billion. GameStop sees Q3 EPS in the range from $0.27 to $0.33 versus consensus of $0.41. Comparable store sales are projected to range from -11.0% to -6.0%. GameStop sees Q4 EPS range from $1.47 to $1.65, as compared to $1.39 in the prior year period versus $1.65. Comparable store sales are projected to range from -7.0% to -1.0%. For fiscal 2009, GameStop is lowering diluted earnings per share guidance from the previously communicated range of $2.83 to $2.93 to a range of $2.40 to $2.64, representing annual EPS growth of flat to +10% versus consensus of $2.76. Comparable store sales are now projected to range from -8.0% to -4.0% in fiscal 2009.
Hot Topic Inc. (Nasdaq: HOTT) 7.3% LOWER; reports Q2 adj-loss of $0.05, 3 cents better than the analyst estimate of ($0.08). Revenue for the quarter was $157.8 million, versus the consensus of $158.71 million. Sees Q3 EPS of $0.11-$0.13, including a $0.02 expense, versus the consensus of $0.15.
Blue Coat Systems (Nasdaq: BCSI) 6.9% LOWER; downgraded to Hold at Needham.
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