Unusual 11 Mid-Day Movers 06/01: (BFED) (PIP) (MVIS) Higher; (QUIK) (OVTI) (SYNC) Lower
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Beacon Federal Bancorp, Inc. (Nasdaq: BFED) 44.9% HIGHER; Berkshire Hills Bancorp, Inc. (Nasdaq: BHLB) and Beacon announced today that they have signed a definitive merger agreement under which Berkshire will acquire Beacon in a transaction valued at approximately $132 million. Under the agreement, Beacon's subsidiary bank, Beacon Federal, will be merged into Berkshire Bank, America's Most Exciting Bank(SM).
PharmAthene, Inc. (Amex: PIP) 34.4% HIGHER; announced that the Delaware Court of Chancery has issued its final judgment in the Company's litigation against SIGA Technologies (Nasdaq: SIGA). Upholding its September 22, 2011 ruling, the Court awarded PharmAthene 50% of the net profits over a period of ten years from all sales of SIGA's smallpox antiviral therapeutic, ST-246, and related products, after SIGA receives the first $40 million in net profits.
QuickLogic Corporation (Nasdaq: QUIK) 24.2% LOWER; announced the pricing of its underwritten public offering of an aggregate of 4,500,000 newly issued shares of common stock, $0.001 par value, together with warrants to purchase up to 2,025,000 shares of common stock.
Microvision (Nasdaq: MVIS) 19.6% HIGHER; continuing higher following a 38 percent jump yesterday amid news of a $4 million order from Pioneer. The stock more than doubled on Tuesday as rumors hit the stock.
Omnivision Technologies, Inc. (Nasdaq: OVTI) 18.3% LOWER; reported Q4 EPS of $0.20, $0.02 worse than the analyst estimate of $0.22. Revenue for the quarter came in at $218.5 million versus the consensus estimate of $205.34 million. Sees Q1 2013 EPS of $0.16-$0.27, versus the consensus of $0.29. Sees Q1 2013 revenue of $235-$255 million, versus the consensus of $219.2 million.
Synacor (Nasdaq: SYNC) 17.1% LOWER; the stock was started at Underweight by Albert Fried late yesterday, then was downgraded at BofA, Citi and Stifel Nicolaus this morning.
Splunk (NASDAQ: SPLK) 13.7% LOWER; reported Q1 EPS of ($0.04), ex-items, $0.03 better than the analyst estimate of ($0.07). Revenue for the quarter came in at $37.2 million versus the consensus estimate of $33.57 million. The company is looking for Q2 sales of $38-$40 million, which compares to the Street estimate of $38.48 million. Sees FY12 sales of $174-$177 million, versus the Street estimate of $172.34 million.
Elephant Talk (AMEX: ETAK) 12.9% LOWER; shares are correcting following a very late-day 27 percent surge on no news.
Alexco Resource Corporation (AMEX: AXU) 12.6% HIGHER; moving higher with gold Friday. The gold ETF (NYSE: GLD) is up more than 4 percent. Spot gold is up more than $60 to over $1,620 per ounce.
Timmins Gold (AMEX: TGD) 12.6% HIGHER; the entire gold & silver sectors are on fire this afternoon following the worse-than-expected jobs report. Investors are using these metals as a safehouse away from equities.
Exeter Resources (AMEX: XRA) 11.0% HIGHER; rebounding with the entire gold & silver sector this morning. The stock is holding near the $2 level.
M/I Homes (NYSE: MHO) 10.5% LOWER; homebuilding stocks are getting absolutely rocked today following the very disappointing payroll report. The XHB ETF (NYSE: XHB) is down nearly 5 percent at last check.
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PharmAthene, Inc. (Amex: PIP) 34.4% HIGHER; announced that the Delaware Court of Chancery has issued its final judgment in the Company's litigation against SIGA Technologies (Nasdaq: SIGA). Upholding its September 22, 2011 ruling, the Court awarded PharmAthene 50% of the net profits over a period of ten years from all sales of SIGA's smallpox antiviral therapeutic, ST-246, and related products, after SIGA receives the first $40 million in net profits.
QuickLogic Corporation (Nasdaq: QUIK) 24.2% LOWER; announced the pricing of its underwritten public offering of an aggregate of 4,500,000 newly issued shares of common stock, $0.001 par value, together with warrants to purchase up to 2,025,000 shares of common stock.
Microvision (Nasdaq: MVIS) 19.6% HIGHER; continuing higher following a 38 percent jump yesterday amid news of a $4 million order from Pioneer. The stock more than doubled on Tuesday as rumors hit the stock.
Omnivision Technologies, Inc. (Nasdaq: OVTI) 18.3% LOWER; reported Q4 EPS of $0.20, $0.02 worse than the analyst estimate of $0.22. Revenue for the quarter came in at $218.5 million versus the consensus estimate of $205.34 million. Sees Q1 2013 EPS of $0.16-$0.27, versus the consensus of $0.29. Sees Q1 2013 revenue of $235-$255 million, versus the consensus of $219.2 million.
Synacor (Nasdaq: SYNC) 17.1% LOWER; the stock was started at Underweight by Albert Fried late yesterday, then was downgraded at BofA, Citi and Stifel Nicolaus this morning.
Splunk (NASDAQ: SPLK) 13.7% LOWER; reported Q1 EPS of ($0.04), ex-items, $0.03 better than the analyst estimate of ($0.07). Revenue for the quarter came in at $37.2 million versus the consensus estimate of $33.57 million. The company is looking for Q2 sales of $38-$40 million, which compares to the Street estimate of $38.48 million. Sees FY12 sales of $174-$177 million, versus the Street estimate of $172.34 million.
Elephant Talk (AMEX: ETAK) 12.9% LOWER; shares are correcting following a very late-day 27 percent surge on no news.
Alexco Resource Corporation (AMEX: AXU) 12.6% HIGHER; moving higher with gold Friday. The gold ETF (NYSE: GLD) is up more than 4 percent. Spot gold is up more than $60 to over $1,620 per ounce.
Timmins Gold (AMEX: TGD) 12.6% HIGHER; the entire gold & silver sectors are on fire this afternoon following the worse-than-expected jobs report. Investors are using these metals as a safehouse away from equities.
Exeter Resources (AMEX: XRA) 11.0% HIGHER; rebounding with the entire gold & silver sector this morning. The stock is holding near the $2 level.
M/I Homes (NYSE: MHO) 10.5% LOWER; homebuilding stocks are getting absolutely rocked today following the very disappointing payroll report. The XHB ETF (NYSE: XHB) is down nearly 5 percent at last check.
To get this report daily visit http://www.streetinsider.com/entities/Unusual+11+Mid-Day+Movers.
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