Unusual 11 Mid-Day Movers 05/08: (GNRC) (SVNT) (ARNA) Higher; (MRGE) (FOSL) (MAKO) Lower
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Merge Healthcare, Inc. (Nasdaq: MRGE) 39.6% LOWER; reported Q1 EPS of $0.03, $0.01 worse than the analyst estimate of $0.04. Revenue for the quarter came in at $61.6 million versus the consensus estimate of $64.83 million. The company withdrew its previous outlook. Also announced the creation of two operating groups to align more effectively to market trends.
Fossil, Inc. (Nasdaq: FOSL) 38.3% LOWER; reported Q1 EPS of $0.93, $0.01 better than the analyst estimate of $0.92. Revenue for the quarter came in at $589.5 million versus the consensus estimate of $617.64 million. Sees Q2 2012 EPS of $0.77-$0.79, versus the consensus of $0.94. Sees FY2012 EPS of $5.30-$5.40, versus prior guidance of $5.40-$5.50 and the consensus of $5.56.
MAKO Surgical Corp (Nasdaq: MAKO) 35.5% LOWER; reported Q1 EPS of ($0.28), $0.08 worse than the analyst estimate of ($0.20). Revenue for the quarter came in at $19.6 million versus the consensus estimate of $23.71 million. Based on the slower than expected start to the year, MAKO now anticipates selling 52 to 58 RIO systems in 2012, which compares to prior guidance of 56 to 62 RIO system sales. MAKOplasty procedure guidance remains unchanged at 11,000 to 13,000 expected procedures in 2012.
Generac Holdings (NYSE: GNRC) 26.3% HIGHER; reported Q1 EPS of $0.96, $0.25 better than the analyst estimate of $0.71. Revenue for the quarter came in at $294.6 million versus the consensus estimate of $249.65 million.
Avalon Rare Metals (AMEX: AVL) 25.4% LOWER; offered an update on its Nechalacho Project. The company does not expect initial production until late 2016.
Synchronoss Technologies, Inc. (Nasdaq: SNCR) 24.9% LOWER; reported Q1 EPS of $0.26, $0.01 better than the analyst estimate of $0.25. Revenue for the quarter came in at $64.9 million versus the consensus estimate of $64.16 million.
Arena Pharmaceuticals (Nasdaq: ARNA) 20.1% HIGHER; After originally trading down on FDA staff questions ahead of the May 10 FDA AdCom for weight loss drug Locaserin, Arena shares moved higher as the FDA released the briefing documents for the meeting.
IEC Electronics Corp. (NYSE: IEC) 20% HIGHER; reported Q2 EPS of $0.26, $0.14 better than the analyst estimate of $0.12. Revenue for the quarter came in at $38.02 million versus the consensus estimate of $35.5 million.
Savient Pharmaceuticals, Inc. (Nasdaq: SVNT) 18.3% HIGHER; has entered into definitive agreements with certain holders of its currently outstanding 4.75% convertible senior notes due 2018. Pursuant to the terms of the definitive agreements, upon the closing of the transactions contemplated therein, which is expected to occur on May 9, 2012, subject to certain customary closing conditions, the Company will raise approximately $44 million in net proceeds and extend the maturity date of approximately 50% of the Existing Notes by approximately 15 months.
Vitamin Shoppe (NYSE: VSI) 15% HIGHER; reported Q1 EPS of $0.61, $0.04 better than the analyst estimate of $0.57. Revenue for the quarter came in at $248.1 million versus the consensus estimate of $239.71 million. Comps up 9.6%.
Sequans Communications (NYSE: SQNS) 12.3% HIGHER; has added new technology to its LTE chip platforms called Sequans AIR™ -- Active Interference Rejection. Sequans AIR is an innovative interference mitigation algorithm implemented on Sequans’ chips for LTE end user devices. Sequans AIR can increase throughput up to 3.5 times for users at the cell edge and can increase network capacity up to 2 times if all user terminals are equipped with Sequans AIR. Sequans AIR was co-developed with technology partner ArrayComm, an industry leader in multi-antenna signal processing.
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Fossil, Inc. (Nasdaq: FOSL) 38.3% LOWER; reported Q1 EPS of $0.93, $0.01 better than the analyst estimate of $0.92. Revenue for the quarter came in at $589.5 million versus the consensus estimate of $617.64 million. Sees Q2 2012 EPS of $0.77-$0.79, versus the consensus of $0.94. Sees FY2012 EPS of $5.30-$5.40, versus prior guidance of $5.40-$5.50 and the consensus of $5.56.
MAKO Surgical Corp (Nasdaq: MAKO) 35.5% LOWER; reported Q1 EPS of ($0.28), $0.08 worse than the analyst estimate of ($0.20). Revenue for the quarter came in at $19.6 million versus the consensus estimate of $23.71 million. Based on the slower than expected start to the year, MAKO now anticipates selling 52 to 58 RIO systems in 2012, which compares to prior guidance of 56 to 62 RIO system sales. MAKOplasty procedure guidance remains unchanged at 11,000 to 13,000 expected procedures in 2012.
Generac Holdings (NYSE: GNRC) 26.3% HIGHER; reported Q1 EPS of $0.96, $0.25 better than the analyst estimate of $0.71. Revenue for the quarter came in at $294.6 million versus the consensus estimate of $249.65 million.
Avalon Rare Metals (AMEX: AVL) 25.4% LOWER; offered an update on its Nechalacho Project. The company does not expect initial production until late 2016.
Synchronoss Technologies, Inc. (Nasdaq: SNCR) 24.9% LOWER; reported Q1 EPS of $0.26, $0.01 better than the analyst estimate of $0.25. Revenue for the quarter came in at $64.9 million versus the consensus estimate of $64.16 million.
Arena Pharmaceuticals (Nasdaq: ARNA) 20.1% HIGHER; After originally trading down on FDA staff questions ahead of the May 10 FDA AdCom for weight loss drug Locaserin, Arena shares moved higher as the FDA released the briefing documents for the meeting.
IEC Electronics Corp. (NYSE: IEC) 20% HIGHER; reported Q2 EPS of $0.26, $0.14 better than the analyst estimate of $0.12. Revenue for the quarter came in at $38.02 million versus the consensus estimate of $35.5 million.
Savient Pharmaceuticals, Inc. (Nasdaq: SVNT) 18.3% HIGHER; has entered into definitive agreements with certain holders of its currently outstanding 4.75% convertible senior notes due 2018. Pursuant to the terms of the definitive agreements, upon the closing of the transactions contemplated therein, which is expected to occur on May 9, 2012, subject to certain customary closing conditions, the Company will raise approximately $44 million in net proceeds and extend the maturity date of approximately 50% of the Existing Notes by approximately 15 months.
Vitamin Shoppe (NYSE: VSI) 15% HIGHER; reported Q1 EPS of $0.61, $0.04 better than the analyst estimate of $0.57. Revenue for the quarter came in at $248.1 million versus the consensus estimate of $239.71 million. Comps up 9.6%.
Sequans Communications (NYSE: SQNS) 12.3% HIGHER; has added new technology to its LTE chip platforms called Sequans AIR™ -- Active Interference Rejection. Sequans AIR is an innovative interference mitigation algorithm implemented on Sequans’ chips for LTE end user devices. Sequans AIR can increase throughput up to 3.5 times for users at the cell edge and can increase network capacity up to 2 times if all user terminals are equipped with Sequans AIR. Sequans AIR was co-developed with technology partner ArrayComm, an industry leader in multi-antenna signal processing.
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