StreetInsider.com Unusual 11 Mid-Day Movers 05/21/2007
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Luna Innovations (NASDAQ: LUNA) 81.7% HIGHER; Received a market clearance letter in response to its 510(k) application to the U.S. Food and Drug Administration for the EDAC(TM) (Emboli Detection and Classification) QUANTIFIER.
Point Therapeutics, Inc. (NASDAQ: POTP) 67% LOWER; The FDA has placed the clinical program for talabostat on clinical hold as a result of the interim analyses of the Company's two Phase 3 talabostat studies as a potential treatment for patients with advanced non-small cell lung cancer (NSCLC).
NetBank, Inc. (Nasdaq: NTBK) 35% LOWER; Announced that the bank has executed an asset purchase and liability assumption agreement with EverBank, an FDIC-insured, federal savings bank and subsidiary of EverBank Financial Corp., a privately held financial services holding company headquartered in Jacksonville, Fla., with approximately $4.7 billion in assets. The purchase price represents a discount to the current carrying value of the assets and liabilities being conveyed, and NetBank anticipates recording a loss on sale of between $60 and $70 million at close.
Isonics Corporation (Nasdaq: ISON) 32.3% HIGHER; expects to report unaudited revenue for its semiconductor products and services segment ( the semiconductor segment) of approximately $3.7 million for the quarter ended April 30, 2007, a 94% increase as compared to $1,906,000 for the same quarter in the year-earlier period. ISON expects to report unaudited revenue for its semiconductor products and services segment ( the semiconductor segment) of approximately $3.7 million for the quarter ended April 30, 2007, a 94% increase as compared to $1,906,000 for the same quarter in the year-earlier period.
Cytyc Corporation (Nasdaq: CYTC) 20% HIGHER; Hologic, Inc. (Nasdaq: HOLX) and Cytyc Corporation announced a definitive agreement to combine the two companies in a cash and stock transaction. Under the terms of the merger agreement, Cytyc shareholders will receive 0.52 shares of Hologic common stock and $16.50 in cash for each share of Cytyc common stock they own.
Elan Corp. plc (NYSE: ELN) 15.6% HIGHER; The company and Wyeth Pharmaceuticals, a division of Wyeth (NYSE: WYE), announced the decision to initiate a Phase 3 clinical program of their lead immunotherapeutic candidate, Bapineuzumab (AAB-001), for the treatment of patients with mild to moderate Alzheimer's Disease.
Atlas Energy Resources, LLC (NYSE: ATN) 14.7% HIGHER; Atlas America, Inc. (Nasdaq: ATLS), which owns an 80% common unit interest and all of the Class A and management incentive interests in Atlas Energy Resources, LLC (NYSE: ATN), announced that Atlas Energy has signed a definitive purchase agreement to acquire DTE Gas & Oil Company ("DGO"), a wholly owned subsidiary of DTE Energy Company (NYSE: DTE), for $1.225 billion in cash, subject to purchase price adjustments and customary closing conditions. As a result of this transaction, Atlas Energy expects to distribute between $2.20 and $2.40 per common unit in 2008, while at the same time intends to increase its distribution coverage ratio from 1.1x to 1.2x. Atlas America is further entitled to management incentive distributions of 15% on all quarterly distributions above $0.48, and 25% on all quarterly distributions above $0.59, payable upon compliance with certain future financial tests.
Visteon Corp. (NYSE: VC) 9% HIGHER; Reports from Business Standard, Tata AutoComp Systems (Taco) and French auto parts maker Valeo are in preliminary talks to buy a stake in Visteon. However, Dow Jones says Tata Auto denies any acquisition talks with Visteon.
Alltel Corp. (NYSE: AT) 5% HIGHER; signed a definitive merger agreement to be acquired by TPG Capital and GS Capital Partners for $71.50 per share in cash, or approximately $27.5 billion.
Lowe's Companies Inc. (NYSE: LOW) 3.2% LOWER; Reports Q1 EPS of $0.48, 1 cent worse than estimates. Revenues came in at $12.2 versus the consensus of $12.46 billion. Sees Q2 EPS of $0.62-$0.64 versus the consensus of $0.60. Sees FY EPS of $1.99-$2.03, versus the consensus of $2.01.
Saks Inc. (NYSE: SKS) 3.1% LOWER; Reports Q1 EPS of $0.07, which includes various items and does not compare to the consensus of $0.16. Revenues came in at $792.7 million versus the consensus of $787.02 million.
Point Therapeutics, Inc. (NASDAQ: POTP) 67% LOWER; The FDA has placed the clinical program for talabostat on clinical hold as a result of the interim analyses of the Company's two Phase 3 talabostat studies as a potential treatment for patients with advanced non-small cell lung cancer (NSCLC).
NetBank, Inc. (Nasdaq: NTBK) 35% LOWER; Announced that the bank has executed an asset purchase and liability assumption agreement with EverBank, an FDIC-insured, federal savings bank and subsidiary of EverBank Financial Corp., a privately held financial services holding company headquartered in Jacksonville, Fla., with approximately $4.7 billion in assets. The purchase price represents a discount to the current carrying value of the assets and liabilities being conveyed, and NetBank anticipates recording a loss on sale of between $60 and $70 million at close.
Isonics Corporation (Nasdaq: ISON) 32.3% HIGHER; expects to report unaudited revenue for its semiconductor products and services segment ( the semiconductor segment) of approximately $3.7 million for the quarter ended April 30, 2007, a 94% increase as compared to $1,906,000 for the same quarter in the year-earlier period. ISON expects to report unaudited revenue for its semiconductor products and services segment ( the semiconductor segment) of approximately $3.7 million for the quarter ended April 30, 2007, a 94% increase as compared to $1,906,000 for the same quarter in the year-earlier period.
Cytyc Corporation (Nasdaq: CYTC) 20% HIGHER; Hologic, Inc. (Nasdaq: HOLX) and Cytyc Corporation announced a definitive agreement to combine the two companies in a cash and stock transaction. Under the terms of the merger agreement, Cytyc shareholders will receive 0.52 shares of Hologic common stock and $16.50 in cash for each share of Cytyc common stock they own.
Elan Corp. plc (NYSE: ELN) 15.6% HIGHER; The company and Wyeth Pharmaceuticals, a division of Wyeth (NYSE: WYE), announced the decision to initiate a Phase 3 clinical program of their lead immunotherapeutic candidate, Bapineuzumab (AAB-001), for the treatment of patients with mild to moderate Alzheimer's Disease.
Atlas Energy Resources, LLC (NYSE: ATN) 14.7% HIGHER; Atlas America, Inc. (Nasdaq: ATLS), which owns an 80% common unit interest and all of the Class A and management incentive interests in Atlas Energy Resources, LLC (NYSE: ATN), announced that Atlas Energy has signed a definitive purchase agreement to acquire DTE Gas & Oil Company ("DGO"), a wholly owned subsidiary of DTE Energy Company (NYSE: DTE), for $1.225 billion in cash, subject to purchase price adjustments and customary closing conditions. As a result of this transaction, Atlas Energy expects to distribute between $2.20 and $2.40 per common unit in 2008, while at the same time intends to increase its distribution coverage ratio from 1.1x to 1.2x. Atlas America is further entitled to management incentive distributions of 15% on all quarterly distributions above $0.48, and 25% on all quarterly distributions above $0.59, payable upon compliance with certain future financial tests.
Visteon Corp. (NYSE: VC) 9% HIGHER; Reports from Business Standard, Tata AutoComp Systems (Taco) and French auto parts maker Valeo are in preliminary talks to buy a stake in Visteon. However, Dow Jones says Tata Auto denies any acquisition talks with Visteon.
Alltel Corp. (NYSE: AT) 5% HIGHER; signed a definitive merger agreement to be acquired by TPG Capital and GS Capital Partners for $71.50 per share in cash, or approximately $27.5 billion.
Lowe's Companies Inc. (NYSE: LOW) 3.2% LOWER; Reports Q1 EPS of $0.48, 1 cent worse than estimates. Revenues came in at $12.2 versus the consensus of $12.46 billion. Sees Q2 EPS of $0.62-$0.64 versus the consensus of $0.60. Sees FY EPS of $1.99-$2.03, versus the consensus of $2.01.
Saks Inc. (NYSE: SKS) 3.1% LOWER; Reports Q1 EPS of $0.07, which includes various items and does not compare to the consensus of $0.16. Revenues came in at $792.7 million versus the consensus of $787.02 million.
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