Morning Movers 8/25: SOMX, CWTR, BERK, CERP Higher; BWS, CAEI, AIB Lower
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Somaxon Pharmaceuticals, Inc. (Nasdaq: SOMX) 35.6% HIGHER; today announced that Somaxon and Procter & Gamble (NYSE: PG) have entered into a co-promotion agreement for Silenor (doxepin), a newly-approved treatment for insomnia characterized by difficulty with sleep maintenance. Click here to see the full report.
Coldwater Creek (Nasdaq: CWTR) 18.8% HIGHER; reports Q2 EPS of $0.02, 6 cents better than the analyst estimate of ($0.04). Revenue for the quarter was $253.5 million, which compares to the estimate of $233.38 million. Sees Q310 EPS of $0.01 - $0.04, compared to the consensus pf $0.03. Reaffirms FY10 outlook.
Berkshire Bancorp (Nasdaq: BERK) 11.7% HIGHER; Customers USA Bank today announced that it has entered into a definitive agreement to acquire Reading, PA based Berkshire Bancorp and its subsidiary Berkshire Bank. Customers USA Bank is a service mark for which New Century Bank is seeking approval.
Cereplast, Inc. (Nasdaq: CERP) 10.1% HIGHER; announced today that it has entered into a multi-million dollar contract with RI.ME. Masterbatch S.r.l., based in Mozzate (CO), Italy, to supply bioplastic resins for use in its masterbatch process for adding colorant to bulk, uncolored resins. The new agreement supports RI.ME.’s commitment to offering its customers sustainable, environmental solutions in the design and production of masterbatches.
Brown Shoe (NYSE: BWS) 9.3% LOWER; reports Q2 adjusted EPS of $0.15, 6 cents better than the analyst estimate of $0.09. Revenue for the quarter was $585.8 million, which compares to the estimate of $579.45 million. Sees FY10 sales growth in the low double-digit range, with Q310 net sales expected to increase in the low-teens range.
China Architectural Engineering (Nasdaq: CAEI) 9.1% LOWER; traders are taking profits today following a 46% surge yesterday amid news that the company completed its purchase of a stake in Shanghai ConnGame.
Allied Irish Banks (NYSE: AIB) 5.8% LOWER; falling today amid the S&P's lowered sovereign rating on Ireland last night.
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Coldwater Creek (Nasdaq: CWTR) 18.8% HIGHER; reports Q2 EPS of $0.02, 6 cents better than the analyst estimate of ($0.04). Revenue for the quarter was $253.5 million, which compares to the estimate of $233.38 million. Sees Q310 EPS of $0.01 - $0.04, compared to the consensus pf $0.03. Reaffirms FY10 outlook.
Berkshire Bancorp (Nasdaq: BERK) 11.7% HIGHER; Customers USA Bank today announced that it has entered into a definitive agreement to acquire Reading, PA based Berkshire Bancorp and its subsidiary Berkshire Bank. Customers USA Bank is a service mark for which New Century Bank is seeking approval.
Cereplast, Inc. (Nasdaq: CERP) 10.1% HIGHER; announced today that it has entered into a multi-million dollar contract with RI.ME. Masterbatch S.r.l., based in Mozzate (CO), Italy, to supply bioplastic resins for use in its masterbatch process for adding colorant to bulk, uncolored resins. The new agreement supports RI.ME.’s commitment to offering its customers sustainable, environmental solutions in the design and production of masterbatches.
Brown Shoe (NYSE: BWS) 9.3% LOWER; reports Q2 adjusted EPS of $0.15, 6 cents better than the analyst estimate of $0.09. Revenue for the quarter was $585.8 million, which compares to the estimate of $579.45 million. Sees FY10 sales growth in the low double-digit range, with Q310 net sales expected to increase in the low-teens range.
China Architectural Engineering (Nasdaq: CAEI) 9.1% LOWER; traders are taking profits today following a 46% surge yesterday amid news that the company completed its purchase of a stake in Shanghai ConnGame.
Allied Irish Banks (NYSE: AIB) 5.8% LOWER; falling today amid the S&P's lowered sovereign rating on Ireland last night.
To get this report daily visit http://www.streetinsider.com/entities/Morning+Movers.
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