StreetInsider.com Pre-Open Movers 5/30: (NVE) (CLWR) (EXPR) Higher; (ABIO) (BIG) (BWP) Lower (more...)

May 30, 2013 9:29 AM EDT Send to a Friend
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ARCA biopharma, Inc. (Nasdaq: ABIO) 30.4% LOWER; announced the pricing of the previously announced public offering of the Companys preferred stock. ARCA will issue to investors an aggregate of approximately 125,000 shares of Series A Convertible Preferred Stock together with warrants to purchase approximately 6.25 million shares of common stock. Each share of Series A preferred stock is convertible into 100 shares of common stock. Each investor will receive a warrant to purchase 50 shares of common stock for each share of preferred stock purchased. ARCA expects to receive approximately $18 million in net proceeds from the stock offering. Dawson James Securities, Inc. acted as sole placement agent for the offering.

NV Energy, Inc. (NYSE: NVE) 22.9% HIGHER; Berkshire Hathaway Inc. (NYSE: BRK-A)(NYSE: BRK-B) MidAmerican Energy will acquire NV Energy for $23.75 per share.

Clearwire Corporation (NASDAQ: CLWR) 20.7% HIGHER; DISH Network Corporation (Nasdaq: DISH) today sent a letter to Clearwire to acquire the company for $4.40 per share in cash.

Celsion Corporation (NASDAQ: CLSN) 15.1% HIGHER; will be presenting post-hoc findings from Phase III HEAT Study of ThermoDox. In part, one doctor noted that the study might indicate "a meaningful clinical benefit in both progression free survival (PFS) and overall survival (OS) in patients who received an optimized RFA procedure.

Express (NYSE: EXPR) 10% HIGHER; reported Q1 EPS of $0.38, $0.02 better than the analyst estimate of $0.36. Revenue for the quarter came in at $508.5 million versus the consensus estimate of $498.21 million. Comparable sales were flat. Sees Q2 2013 EPS of $0.17-$0.21, versus the consensus of $0.14. Sees FY2013 EPS of $1.48-$1.58, versus the consensus of $1.52

Capstone Turbine (Nasdaq: CPST) 9.7% HIGHER; received an order for three patented C65 Hybrid Uninterruptible Power Source (Hybrid UPS) units for installation at a data center owned and operated by Southern California Gas Company (SoCalGas), the nation's largest natural-gas distribution utility.

Big Lots, Inc. (NYSE: BIG) 9.2% LOWER; reported Q1 EPS of $0.61, in-line with the analyst estimate of $0.61. Revenue for the quarter came in at $1.3 billion versus the consensus estimate of $1.32 billion. Consolidated comparable store sales decreased 2.5% for the quarter, consistent with our guidance of negative low single digits. Sees Q2 2013 EPS of $0.17-0.27, versus the consensus of $0.43. Sees FY2013 EPS of $2.87-3.12, versus the consensus of $3.16.

Neutral Tandem, Inc. (Nasdaq: IQNT) 7.9% HIGHER; declared a special dividend of $1.25 per share. The dividend will be payable on June 28, 2013, to stockholders of record on June 14, 2013. The annual yield on the dividend is 21.9 percent. Also declared a $0.0625 quarterly dividend.

MEMC Electronic Materials Inc. (NYSE: WFR) 6.1% HIGHER; Upgraded to CL-Buy at Goldman Sachs

First Solar, Inc. (NASDAQ: FSLR) 6.1% HIGHER; Upgraded to Buy at Goldman Sachs

Avago Tech (Nasdaq: AVGO) 5% HIGHER; reported Q2 EPS of $0.61, $0.09 better than the analyst estimate of $0.52. Revenue for the quarter came in at $562 million versus the consensus estimate of $558.24 million. Sees Q3 revs up 6 percent to 9 percent and gross margin of 51.0 percent +/- 1 point.

Boardwalk Pipeline Partners, LP (NYSE: BWP) 4.9% LOWER; announced that it plans to offer 11,000,000 common units representing limited partner interests in a registered offering. The underwriters are also expected to be granted a 30-day option to purchase up to 1,650,000 additional common units.

Fusion-io, Inc. (NYSE: FIO) 4.8% HIGHER; Upgraded to Outperform at Credit Suisse

Ruckus Wireless, Inc. (NASDAQ: RKUS) 4.4% HIGHER; upgraded at Needham & Company

Amarin Corporation (NASDAQ: AMRN) 4.1% HIGHER; speculation Elan could acquire the company

Facebook, Inc. (NASDAQ: FB) 3.3% HIGHER; Upgraded at BMO and Jefferies

Halliburton Company (NYSE: HAL) 1.9% LOWER; Downgraded to Underweight at Morgan Stanley

Baker Hughes Incorporated (NYSE: BHI) 1.9% LOWER; Downgraded to Underweight at Morgan Stanley

Textron Inc. (NYSE: TXT) 1.9% LOWER; Downgraded to at Goldman Sachs

Tillys (NYSE: TLYS)1.5% HIGHER; reported Q1 EPS of $0.08, $0.01 better than the analyst estimate of $0.07. Revenue for the quarter came in at $109.1 million versus the consensus estimate of $107.2 million. Comps rose 1.1%. Sees FY EPS of $0.76 to $0.82 vs prior $0.75 to $0.81 and estimate of $0.81.

Integrated Device Technology, Inc. (Nasdaq: IDTI) 1.3% HIGHER; announced it has signed a definitive agreement to divest its PCI Express® (PCIe) enterprise flash controller business and related PCIe intellectual property assets to PMC-Sierra, Inc. (Nasdaq: PMCS). The purchase consideration consists of approximately US$100 million in cash, subject to certain purchase price adjustments. The transaction has received appropriate board approvals, but will be subject to applicable regulatory and closing conditions. The transaction is anticipated to close in the third quarter of calendar 2013.

Alcoa Inc. (NYSE: AA) 0.9% LOWER; Moody's Investors Service downgraded the senior unsecured debt ratings of Alcoa Inc. (NYSE: AA) to Ba1 from Baa3 and assigned a Ba1 Corporate Family Rating and a Ba1-PD Probability of Default Rating. Moody's confirmed the Ba2 preferred stock rating. At the same time, Moody's withdrew the company's Prime-3 commercial paper rating and assigned a Speculative Grade Liquidity Rating of SGL-1. This concludes the review for downgrade initiated on December 18, 2012. The rating outlook is stable.


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