Unusual 11 Mid-Day Movers 03/13: (BBX) (MDS) (WOLF) Higher; (CCIX) (PWAV) (ESIC) Lower
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BankAtlantic Bancorp, Inc. (NYSE: BBX) 81.4% HIGHER; has entered into an amendment to its November 1, 2011 agreement with BB&T Corporation (NYSE: BBT). The core provisions of the original agreement remain unchanged. In connection with the transaction, BB&T will acquire approximately $2.1 billion in loans and approximately $3.3 billion in deposits based on September 30, 2011 balances. BB&T will pay an estimated premium of $301 million to the closing net asset value of BankAtlantic. The premium, which equates to approximately 9% of total deposits at September 30, 2011, is subject to adjustment based on actual non-CD deposit balances at closing, but in no event will exceed $315.9 million. Under the terms of the modified agreement, BB&T will assume BankAtlantic Bancorp’s obligations with respect to its approximately $285 million of outstanding trust preferred securities.
Midas, Inc. (NYSE: MDS) 27.4% HIGHER; TBC Corporation and Midas today announced that they have entered into a definitive merger agreement, pursuant to which TBC will acquire Midas through a cash tender offer at $11.50 per share.
Great Wolf Resorts, Inc. (Nasdaq: WOLF) 23.3% HIGHER; An affiliate of Apollo Global Management, LLC (NYSE: APO) and Great Wolf announced that they have entered into a definitive merger agreement whereby Apollo, a leading global asset manager, will acquire Great Wolf, North America’s largest family of indoor waterpark resorts, for approximately $703 million.
Coleman Cable, Inc. (Nasdaq: CCIX) 21.7% LOWER; reported Q4 EPS of $0.07, $0.16 worse than the analyst estimate of $0.23. Revenue for the quarter came in at $206.7 million versus the consensus estimate of $204.19 million. Sees Q1 2012 EPS of $0.14-$0.27, versus the consensus of $0.32. Sees Q1 2012 revenue of $210-$220 million, versus the consensus of $215 million.
Omeros Corporation (Nasdaq: OMER) 18.4% HIGHER; reports positive data from its Phase 3 clinical trial evaluating OMS302 in patients undergoing intraocular lens replacement surgery. OMS302 met its primary endpoint by demonstrating statistically significant (p<0.00001) maintenance of intraoperative mydriasis (pupil dilation).
Carmike Cinemas, Inc. (Nasdaq: CKEC) 18.2% HIGHER; reported Q4 EPS of $0.14, $0.09 better than the analyst estimate of $0.05. Revenue for the quarter came in at $120.1 million versus the consensus estimate of $112.2 million.
Salem Communications (Nasdaq: SALM) 15.8% HIGHER; continuing higher this week following a 7.5 percent move higher on Friday and another 6 percent rise yesterday. Shares are holding above the $3 level today.
Powerwave Tech (Nasdaq: PWAV) 14.9% LOWER; traders taking profits today following a more than 41 percent surge yesterday as the stock broke above the 200-day SMA and the $1.50 level.
Easylink Services International (Nasdaq: ESIC) 13.1% LOWER; reported Q2 non-GAAP EPS of $0.17, versus $0.14 reported last year. Revenue for the quarter came in at $44.5 million, versus $47.4 million reported last year.
Majesco Entertainment Company (Nasdaq: COOL) 11.5% LOWER; reported Q1 EPS of $0.19, $0.01 worse than the analyst estimate of $0.20. Revenue for the quarter came in at $66.2 million versus the consensus estimate of $54.9 million. Sees FY2012 EPS of $0.25-$0.35, versus the consensus of $0.35. Sees FY2012 revenue of $130-$140 million, versus the consensus of $136.5 million.
Media General (NYSE: MEG) 10.5% LOWER; breaking below 200-day SMA and the $6 level today. Shares also pushed below the $5.50 level. Volume is heavier than normal today.
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Midas, Inc. (NYSE: MDS) 27.4% HIGHER; TBC Corporation and Midas today announced that they have entered into a definitive merger agreement, pursuant to which TBC will acquire Midas through a cash tender offer at $11.50 per share.
Great Wolf Resorts, Inc. (Nasdaq: WOLF) 23.3% HIGHER; An affiliate of Apollo Global Management, LLC (NYSE: APO) and Great Wolf announced that they have entered into a definitive merger agreement whereby Apollo, a leading global asset manager, will acquire Great Wolf, North America’s largest family of indoor waterpark resorts, for approximately $703 million.
Coleman Cable, Inc. (Nasdaq: CCIX) 21.7% LOWER; reported Q4 EPS of $0.07, $0.16 worse than the analyst estimate of $0.23. Revenue for the quarter came in at $206.7 million versus the consensus estimate of $204.19 million. Sees Q1 2012 EPS of $0.14-$0.27, versus the consensus of $0.32. Sees Q1 2012 revenue of $210-$220 million, versus the consensus of $215 million.
Omeros Corporation (Nasdaq: OMER) 18.4% HIGHER; reports positive data from its Phase 3 clinical trial evaluating OMS302 in patients undergoing intraocular lens replacement surgery. OMS302 met its primary endpoint by demonstrating statistically significant (p<0.00001) maintenance of intraoperative mydriasis (pupil dilation).
Carmike Cinemas, Inc. (Nasdaq: CKEC) 18.2% HIGHER; reported Q4 EPS of $0.14, $0.09 better than the analyst estimate of $0.05. Revenue for the quarter came in at $120.1 million versus the consensus estimate of $112.2 million.
Salem Communications (Nasdaq: SALM) 15.8% HIGHER; continuing higher this week following a 7.5 percent move higher on Friday and another 6 percent rise yesterday. Shares are holding above the $3 level today.
Powerwave Tech (Nasdaq: PWAV) 14.9% LOWER; traders taking profits today following a more than 41 percent surge yesterday as the stock broke above the 200-day SMA and the $1.50 level.
Easylink Services International (Nasdaq: ESIC) 13.1% LOWER; reported Q2 non-GAAP EPS of $0.17, versus $0.14 reported last year. Revenue for the quarter came in at $44.5 million, versus $47.4 million reported last year.
Majesco Entertainment Company (Nasdaq: COOL) 11.5% LOWER; reported Q1 EPS of $0.19, $0.01 worse than the analyst estimate of $0.20. Revenue for the quarter came in at $66.2 million versus the consensus estimate of $54.9 million. Sees FY2012 EPS of $0.25-$0.35, versus the consensus of $0.35. Sees FY2012 revenue of $130-$140 million, versus the consensus of $136.5 million.
Media General (NYSE: MEG) 10.5% LOWER; breaking below 200-day SMA and the $6 level today. Shares also pushed below the $5.50 level. Volume is heavier than normal today.
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