Unusual 11 Mid-Day Movers 04/05: (CREG) (ALTH) (HIMX) Higher; (PMTC) (MERU) (PLCM) Lower
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China Recycling Energy (Nasdaq: CREG) 35.5% HIGHER; shares continuing higher following a nearly 16 percent surge yesterday. The stock seems to be catching some action following massive moves in SmartHeat (Nasdaq: HEAT) and THT Heat Transfer Technology (Nasdaq: THTI) over the last two sessions. CREG shares were halted this morning amid a volatility pause.
Allos Therapeutics, Inc. (Nasdaq: ALTH) 26.9% HIGHER; Spectrum Pharmaceuticals (Nasdaq: SPPI) and Allos today announced that they have signed a definitive agreement under which Spectrum will acquire all of the outstanding shares of Allos for $1.82 per share in cash plus one Contingent Value Right.
Parametric Technology Corp. (Nasdaq: PMTC) 21.5% LOWER; reports preliminary non-GAAP revs of $300 million and EPS of 26 cents to 28 cents for its second quarter. The Street was expecting revs of $314.7 million and EPS of 34 cents.
Himax (Nasdaq: HIMX) 20.3% HIGHER; is revising its first quarter revenue guidance to $166.7 million, exceeding its initial guidance which projected revenues to decline by mid-single-digit percentage versus $169.2 million in the fourth quarter of 2011. Gross margin is now expected to be around 22.9%, as compared to previous guidance of flat or down slightly from the 22.1% in the fourth quarter 2011. GAAP EPS is now expected to be around $0.066, as compared to initial guidance of $0.03 to $0.04. The Street was modeling revs of $161.9 million and EPS of 5 cents.
Meru Networks (Nasdaq: MERU) 20.2% LOWER; Based on preliminary financial information, Meru Networks expects to report first quarter revenue in the range of $19.0 million to $19.5 million. The company expects to report cash, cash equivalents and investments of approximately $36.6 million and outstanding borrowings on its existing credit facility of $6.9 million as of March 31, 2012. The Street is currently looking for revs of $21.9 million.
Polycom, Inc. (Nasdaq: PLCM) 19.4% LOWER; warns for Q1. The company expects to report net revenues for the quarter ended March 31, 2012, in the range of $364 million to $370 million, below the consensus of $400.7 million. Sees EPS of $0.21 to $0.23 on a non-GAAP basis, versus the consensus of $0.30.
China Finance Online Co. (Nasdaq: JRJC) 17.7% HIGHER; the stock surged nearly 15 percent over the span of a minute or two in mid-day trade. We are not hearing any company-specific news this morning.
A123 Systems, Inc. (Nasdaq: AONE) 17.7% HIGHER; In a 13G filing on A123, hedge fund ALLIANCEBERNSTEIN L.P. disclosed a 10.11%, or 14,849,142 share, stake in the company. This is up 85.36% from the 8,011,162 shares held at the end of the latest quarter ending December 31, 2011.
Ruby Tuesday, Inc. (NYSE: RT) 17.7% LOWER; reported Q3 EPS of $0.18, 3 cents better than the analyst estimate of $0.15. Revenue for the quarter came in at $324.8 million versus the consensus estimate of $336.61 million. Comps down 5 percent. Ruby Tuesday sees FY2012 EPS of $0.43-$0.48, versus prior guidance of $0.55-$0.65 and the consensus of $0.56.
Great Wolf Resorts, Inc. (Nasdaq: WOLF) 16.5% HIGHER; has received an unsolicited letter from KSL Capital Partners proposing to acquire Great Wolf for $6.25 per share in cash.
Schulman (NASDAQ: SHLM) 15.2% LOWER; reported Q2 EPS of $0.38, $0.07 worse than the analyst estimate of $0.45. Revenue for the quarter came in at $495.9 million versus the consensus estimate of $482.2 million. Expecting FY12 net income to above 2011 level.
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Allos Therapeutics, Inc. (Nasdaq: ALTH) 26.9% HIGHER; Spectrum Pharmaceuticals (Nasdaq: SPPI) and Allos today announced that they have signed a definitive agreement under which Spectrum will acquire all of the outstanding shares of Allos for $1.82 per share in cash plus one Contingent Value Right.
Parametric Technology Corp. (Nasdaq: PMTC) 21.5% LOWER; reports preliminary non-GAAP revs of $300 million and EPS of 26 cents to 28 cents for its second quarter. The Street was expecting revs of $314.7 million and EPS of 34 cents.
Himax (Nasdaq: HIMX) 20.3% HIGHER; is revising its first quarter revenue guidance to $166.7 million, exceeding its initial guidance which projected revenues to decline by mid-single-digit percentage versus $169.2 million in the fourth quarter of 2011. Gross margin is now expected to be around 22.9%, as compared to previous guidance of flat or down slightly from the 22.1% in the fourth quarter 2011. GAAP EPS is now expected to be around $0.066, as compared to initial guidance of $0.03 to $0.04. The Street was modeling revs of $161.9 million and EPS of 5 cents.
Meru Networks (Nasdaq: MERU) 20.2% LOWER; Based on preliminary financial information, Meru Networks expects to report first quarter revenue in the range of $19.0 million to $19.5 million. The company expects to report cash, cash equivalents and investments of approximately $36.6 million and outstanding borrowings on its existing credit facility of $6.9 million as of March 31, 2012. The Street is currently looking for revs of $21.9 million.
Polycom, Inc. (Nasdaq: PLCM) 19.4% LOWER; warns for Q1. The company expects to report net revenues for the quarter ended March 31, 2012, in the range of $364 million to $370 million, below the consensus of $400.7 million. Sees EPS of $0.21 to $0.23 on a non-GAAP basis, versus the consensus of $0.30.
China Finance Online Co. (Nasdaq: JRJC) 17.7% HIGHER; the stock surged nearly 15 percent over the span of a minute or two in mid-day trade. We are not hearing any company-specific news this morning.
A123 Systems, Inc. (Nasdaq: AONE) 17.7% HIGHER; In a 13G filing on A123, hedge fund ALLIANCEBERNSTEIN L.P. disclosed a 10.11%, or 14,849,142 share, stake in the company. This is up 85.36% from the 8,011,162 shares held at the end of the latest quarter ending December 31, 2011.
Ruby Tuesday, Inc. (NYSE: RT) 17.7% LOWER; reported Q3 EPS of $0.18, 3 cents better than the analyst estimate of $0.15. Revenue for the quarter came in at $324.8 million versus the consensus estimate of $336.61 million. Comps down 5 percent. Ruby Tuesday sees FY2012 EPS of $0.43-$0.48, versus prior guidance of $0.55-$0.65 and the consensus of $0.56.
Great Wolf Resorts, Inc. (Nasdaq: WOLF) 16.5% HIGHER; has received an unsolicited letter from KSL Capital Partners proposing to acquire Great Wolf for $6.25 per share in cash.
Schulman (NASDAQ: SHLM) 15.2% LOWER; reported Q2 EPS of $0.38, $0.07 worse than the analyst estimate of $0.45. Revenue for the quarter came in at $495.9 million versus the consensus estimate of $482.2 million. Expecting FY12 net income to above 2011 level.
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Hedge Funds, Unusual 11 Mid-Day Movers, 13G, Spectrum Pharmaceuticals/Allos Therapeutics
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