StreetInsider.com Pre-Open Movers 03/05: (ZOLT) (APP) (MTG) Higher; (IPXL) (JCP) (FR) Lower (more...)

March 5, 2013 9:32 AM EST Send to a Friend
Impax Laboratories, Inc. (NASDAQ: IPXL) 20% LOWER; announced that the U.S. Food and Drug Administration (FDA) completed its re-inspection of the Companys Hayward manufacturing facility in connection with the previously disclosed Form 483 issued in March 2012. In addition to the re-inspection, the FDA conducted a Pre-Approval Inspection (PAI) for RYTARYTM, as analytical method validation and a portion of the stability data were generated in Hayward, and a general Good Manufacturing Practices (GMP) inspection. At the conclusion of this inspection, the FDA issued a new Form 483 with twelve (12) observations, three (3) of which are designated as repeat observations from inspections that occurred prior to the Warning Letter.

Zoltek Companies (NASDAQ: ZOLT) 15% HIGHER; Quinpario Partners LL reports 10% stake, wants board removed

American Apparel (NYSE: APP) 15% HIGHER; reported Q4 EPS of ($0.06), $0.04 worse than the analyst estimate of ($0.02). Revenue for the quarter came in at $173 million versus the consensus estimate of $172.38 million. Q4 Comps rose 7 percent. American Apparel sees FY2013 revenue of $654-660 million, versus the consensus of $650.5 million.

AcelRx Pharmaceuticals, Inc. (Nasdaq: ACRX) 14% HIGHER; announced top-line data results demonstrating that the first of two pivotal placebo-controlled Phase 3 studies for its investigational sublingual Sufentanil NanoTab PCA (patient-controlled analgesia) System met its primary endpoint. Adverse events reported in the study were generally mild or moderate in nature and similar in both placebo and treatment groups.

Acura Pharmaceuticals, Inc. (Nasdaq: ACUR) 14% HIGHER; announced that its new next generation pseudoephedrine with abuse deterrent technology will now be stocked by chain drug store KERR DRUG. Nexafed [pseudoephedrine hydrochloride (HCl)], is a 30 mg immediate-release pseudoephedrine product that combines effective nasal-congestion relief with a unique technology that disrupts the conversion of pseudoephedrine into the dangerous drug, methamphetamine (meth). Meth production and abuse is a growing problem in communities nationwide.

Anthera Pharma (NASDAQ: ANTH) 12% HIGHER; Jefferies initiates coverage with a Buy. PT $2.0

Ascena Retail Group, Inc. (NASDAQ: ASNA) 12% HIGHER; reported Q2 EPS of $0.26, $0.03 better than the analyst estimate of $0.23. Revenue for the quarter came in at $1.24 billion versus the consensus estimate of $1.23 billion. Reaffirmed FY2013 guidance.

MGIC Investment (NYSE: MTG) 10% HIGHER; Barclays upgraded from Underweight to Overweight with a price target of $8.00

Santarus, Inc. (NASDAQ: SNTS) 9% HIGHER; reported Q4 EPS of $0.08, $0.07 better than the analyst estimate of $0.01. Revenue for the quarter came in at $70.2 million versus the consensus estimate of $62.02 million. Santarus, Inc. sees FY2013 EPS of $0.92-1.00, versus the consensus of $0.70. Santarus, Inc. sees FY2013 revenue of $320-325 million, versus the consensus of $323.11 million.

Cree (Nasdaq: CREE) 9% HIGHER; boosts Q3 EPS, revenue outlook.

Radian Group (NYSE: RDN) 6% HIGHER; Barclays upgraded from Underweight to Overweight with a price target of $14.00 (from $4.00).

J. C. Penney Company, Inc. (NYSE: JCP) 5% LOWER; reports 10 million shares block being sold by Vornado

Trulia, Inc. (NYSE: TRLA) 5% LOWER; to offer up to $100 million in stock

Compuware (NASDAQ: CPWR) 3% HIGHER; Interest from several PE firms.

Sears Holdings Corporation (SHLD) 3% HIGHER; Lampert buys 1.24M shares.

Stratasys Inc. (NASDAQ: SSYS) 3% HIGHER; Needham & Company upgraded from Hold to Buy with a price target of $80.00 following solid Q4 results and better than expected 2013 guidance.

First Industrial Realty Trust, Inc. (NYSE: FR) 2% LOWER; has commenced an underwritten public offering of 8,400,000 shares of its common stock.

Netflix, Inc. (NASDAQ: NFLX) 2% HIGHER; New Outperform rating and RBC

Yahoo! Inc. (NASDAQ: YHOO) 1% HIGHER; upgraded at Cantor Fitzgerald

QUALCOMM (NASDAQ: QCOM) 1% HIGHER; raises buyback and dividend

Jazz Pharmaceuticals plc (Nasdaq: JAZZ) 1% LOWER; announced the pricing of a previously announced underwritten public offering of 5,375,000 of its ordinary shares held by certain of its existing shareholders, offered at a price to the public of $58.50 per share.


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