Unusual 11 Mid-Day Movers 06/08: (FTWR) (CNIT) (CHBT) Higher; (QNST) (COGO) (CIEN) Lower
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FiberTower (Nasdaq: FTWR) 29.4% HIGHER; traders are buying the dip today following five straight sessions of downside. The stock is down 41 percent over this span, however had been up 97 percent in the prior three trading session. About halfway through today's session, nearly 6 million FiberTower shares were traded, which compares to the stock's average full-day volume of just 1.2 million shares.
China Information Technology (Nasdaq: CNIT) 22.9% HIGHER; Chinese tech stocks seem to be getting a bit of a bounce today following sharp downside over the last week or so. Susquehanna put out a research note defending these companies this morning.
China-Biotics (Nasdaq: CHBT) 22.8% HIGHER; the stock is bouncing above the $5 level today after falling nearly 43 percent since the beginning of June.
QuinStreet (Nasdaq: QNST) 21.2% LOWER; said it sees FY11 sales growth at the top of the previously-provided 15 - 20% range. Sees sales flat year-over-year in Q4 and Q1. Sees FY12 sales of $455 - $475 million, which compares to the Street estimate of $480 million. The stock was also downgraded at Stifel Nicolaus and BofA this morning.
Cogo Group (Nasdaq: COGO) 15.3% LOWER; breaking below a support level at $6 today following a downgraded to Neutral at Ticonderoga.
Ciena Corporation (Nasdaq: CIEN) 14.7% LOWER; reported Q2 adjusted loss of $0.24, $0.14 worse than the analyst estimate of ($0.10). Revenue for the quarter came in at $417.9 million versus the consensus estimate of $428.1 million. Sees Q3 2011 revenue of $435-$455 million, versus the consensus of $456.42 million.
Layne Christensen Co (Nasdaq: LAYN) 13.8% HIGHER; reported Q1 EPS of $0.51, ex-items, 23 cents better than the analyst estimate of $0.28. Revenue for the quarter came in at $267.37 million versus the consensus estimate of $242.88 million.
Impax Laboratories (NASDAQ: IPXL) 12.2% LOWER; JPMorgan downgraded the stock from Overweight to Neutral. PT lowered from $28 to $26.
Westport Innovations, Inc. (Nasdaq: WPRT) 11.5% LOWER; reported Q4 EPS of ($0.31), $0.13 worse than the analyst estimate of ($0.18). Revenue for the quarter came in at $38.1 million versus the consensus estimate of $42.87 million.
Bob Evans Farms (Nasdq: BOBE) 8.5% HIGHER; reported Q4 EPS of $0.60, 6 cent worse than the analyst estimate of $0.66. Revenue for the quarter came in at $418.7 million versus the consensus estimate of $423.67 million. Same-store sales rose 1.2 percent. Sees FY2012 EPS of $2.36-$2.44, versus the consensus of $2.39. The stock was upgraded at Miller Tabak earlier.
Ulta Salon Inc. (Nasdaq: ULTA) 7.8% HIGHER; reported Q1 EPS of $0.37, 6 cents better than the analyst estimate of $0.31. Revenue for the quarter came in at $386 million versus the consensus estimate of $371.02 million.
To get this report daily visit http://www.streetinsider.com/entities/Unusual+11+Mid-Day+Movers.
China Information Technology (Nasdaq: CNIT) 22.9% HIGHER; Chinese tech stocks seem to be getting a bit of a bounce today following sharp downside over the last week or so. Susquehanna put out a research note defending these companies this morning.
China-Biotics (Nasdaq: CHBT) 22.8% HIGHER; the stock is bouncing above the $5 level today after falling nearly 43 percent since the beginning of June.
QuinStreet (Nasdaq: QNST) 21.2% LOWER; said it sees FY11 sales growth at the top of the previously-provided 15 - 20% range. Sees sales flat year-over-year in Q4 and Q1. Sees FY12 sales of $455 - $475 million, which compares to the Street estimate of $480 million. The stock was also downgraded at Stifel Nicolaus and BofA this morning.
Cogo Group (Nasdaq: COGO) 15.3% LOWER; breaking below a support level at $6 today following a downgraded to Neutral at Ticonderoga.
Ciena Corporation (Nasdaq: CIEN) 14.7% LOWER; reported Q2 adjusted loss of $0.24, $0.14 worse than the analyst estimate of ($0.10). Revenue for the quarter came in at $417.9 million versus the consensus estimate of $428.1 million. Sees Q3 2011 revenue of $435-$455 million, versus the consensus of $456.42 million.
Layne Christensen Co (Nasdaq: LAYN) 13.8% HIGHER; reported Q1 EPS of $0.51, ex-items, 23 cents better than the analyst estimate of $0.28. Revenue for the quarter came in at $267.37 million versus the consensus estimate of $242.88 million.
Impax Laboratories (NASDAQ: IPXL) 12.2% LOWER; JPMorgan downgraded the stock from Overweight to Neutral. PT lowered from $28 to $26.
Westport Innovations, Inc. (Nasdaq: WPRT) 11.5% LOWER; reported Q4 EPS of ($0.31), $0.13 worse than the analyst estimate of ($0.18). Revenue for the quarter came in at $38.1 million versus the consensus estimate of $42.87 million.
Bob Evans Farms (Nasdq: BOBE) 8.5% HIGHER; reported Q4 EPS of $0.60, 6 cent worse than the analyst estimate of $0.66. Revenue for the quarter came in at $418.7 million versus the consensus estimate of $423.67 million. Same-store sales rose 1.2 percent. Sees FY2012 EPS of $2.36-$2.44, versus the consensus of $2.39. The stock was upgraded at Miller Tabak earlier.
Ulta Salon Inc. (Nasdaq: ULTA) 7.8% HIGHER; reported Q1 EPS of $0.37, 6 cents better than the analyst estimate of $0.31. Revenue for the quarter came in at $386 million versus the consensus estimate of $371.02 million.
To get this report daily visit http://www.streetinsider.com/entities/Unusual+11+Mid-Day+Movers.
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