Unusual 11 Mid-Day Movers 06/18: (XG) (IDCC) (JRJC) Higher; (BODY) (KV-A) (DSW) Lower
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Extorre Gold Mines Limited (AMEX: XG) 54.1% HIGHER; Yamana Gold, Inc. (NYSE: AUY) entered a definitive agreement to acquire all of the issued and outstanding common shares of Extorre. Under the terms of the Agreement, each Extorre shareholder will receive $4.26 per share comprised of $3.50 in cash and 0.0467 of a Yamana common share for each Extorre common share held. The offer represents a 54% premium to Extorre's 20-day volume weighted average price and an 18% premium to the 60-day VWAP for the period ending June 15, 2012. The transaction value, net of cash and on a basic shares outstanding basis, is approximately $395 million, representing approximately 3% of Yamana's pro-forma market capitalization.
Body Central Corp. (Nasdaq: BODY) 47.8% LOWER; sees Q2 net revenues in the range of $77 million to $79 million, comparable sales to decrease in a range of 7 to 9 percent and diluted earnings per share in the range of $0.19 to $0.21, based on diluted weighted-average shares outstanding of 16.4 million. Body Central previously saw EPS of $0.26 - $0.28 and sales of $80 - $82 million. The Street sees sales of $82 million and EPS of $0.27. Sees FY12 net revenues in the range of $323 million to $328 million, comparable sales to decrease in a range of 4 to 6 percent and diluted earnings per share in the range of $1.07 to $1.11, based on diluted weighted-average shares outstanding of 16.4 million. The Company previously expected EPS of $1.34 - $1.38 and sales of $333 - $337 million. The Street is looking for EPS of $1.35 and sales of $335.4 million.
InterDigital, Inc. (Nasdaq: IDCC) 26.5% HIGHER; InterDigital subsidies entered into an agreement to sell 1,700 patents and applications for $375 million to Intel (Nasdaq: INTC). The company also doubled its stock buyback authorization to $200 million.
China Finance Online Co. Limited (Nasdaq: JRJC) 24.1% HIGHER; the company announced that its flagship portal site Stockstar.com has entered into an exclusive partnership with Baidu.com (Nasdaq: BIDU) on a mobile web application to provide financial information services.
K-V Pharmaceutical Co. (NYSE: KV-A) 24.3% LOWER; announced that the U.S. Food and Drug Administration (FDA) and the Centers for Medicare & Medicaid Services (CMS) both issued updated statements on Makena that affirm the importance of the only FDA-approved drug for treatment of women with a history of preterm birth. Prior statements by both agencies had been cited by some payers as the basis for denying patients' access to FDA-approved Makena in favor of unapproved compounded hydroxyprogesterone caproate (17P) formulations. For more color, click here.
Elster Group (NYSE: ELT) 17.1% HIGHER; the company confirmed that it is in discussions with Melrose PLC regarding a potential cash offer for all outstanding shares of Elster at US$20.50 per ADS, or approximately US$2.3 billion in aggregate on a fully diluted basis.
Great Basin Gold (AMEX: GBG) 16.7% HIGHER; shares plunged very sharply just ahead of the close on Friday. The stock has taken back all that loss this morning. Not hearing any company-specific news.
Genetic Technologies (Nasdaq: GENE) 13.1% HIGHER; bounced over the $3.50 level on a spike in volume.
DSW Inc. (NYSE: DSW) 11.3% LOWER; sees Q2 EPS of 60-64 cents, which compares to the Street estimate of 74 cents. Reiterated its FY12 outlook. Also announced the authorization of a $100 million stock repurchase program.
KIT digital (Nasdaq: KITD) 11.1% LOWER; stock giving up gains from a late-day 11 percent move on Friday. Shares are now below support at $4.50.
BioSante Pharmaceuticals (Nasdaq: BPAX) 9.7% LOWER; lower following a 27 percent move late last week following new LibiGell Phase II data and Phase III initiation.
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Body Central Corp. (Nasdaq: BODY) 47.8% LOWER; sees Q2 net revenues in the range of $77 million to $79 million, comparable sales to decrease in a range of 7 to 9 percent and diluted earnings per share in the range of $0.19 to $0.21, based on diluted weighted-average shares outstanding of 16.4 million. Body Central previously saw EPS of $0.26 - $0.28 and sales of $80 - $82 million. The Street sees sales of $82 million and EPS of $0.27. Sees FY12 net revenues in the range of $323 million to $328 million, comparable sales to decrease in a range of 4 to 6 percent and diluted earnings per share in the range of $1.07 to $1.11, based on diluted weighted-average shares outstanding of 16.4 million. The Company previously expected EPS of $1.34 - $1.38 and sales of $333 - $337 million. The Street is looking for EPS of $1.35 and sales of $335.4 million.
InterDigital, Inc. (Nasdaq: IDCC) 26.5% HIGHER; InterDigital subsidies entered into an agreement to sell 1,700 patents and applications for $375 million to Intel (Nasdaq: INTC). The company also doubled its stock buyback authorization to $200 million.
China Finance Online Co. Limited (Nasdaq: JRJC) 24.1% HIGHER; the company announced that its flagship portal site Stockstar.com has entered into an exclusive partnership with Baidu.com (Nasdaq: BIDU) on a mobile web application to provide financial information services.
K-V Pharmaceutical Co. (NYSE: KV-A) 24.3% LOWER; announced that the U.S. Food and Drug Administration (FDA) and the Centers for Medicare & Medicaid Services (CMS) both issued updated statements on Makena that affirm the importance of the only FDA-approved drug for treatment of women with a history of preterm birth. Prior statements by both agencies had been cited by some payers as the basis for denying patients' access to FDA-approved Makena in favor of unapproved compounded hydroxyprogesterone caproate (17P) formulations. For more color, click here.
Elster Group (NYSE: ELT) 17.1% HIGHER; the company confirmed that it is in discussions with Melrose PLC regarding a potential cash offer for all outstanding shares of Elster at US$20.50 per ADS, or approximately US$2.3 billion in aggregate on a fully diluted basis.
Great Basin Gold (AMEX: GBG) 16.7% HIGHER; shares plunged very sharply just ahead of the close on Friday. The stock has taken back all that loss this morning. Not hearing any company-specific news.
Genetic Technologies (Nasdaq: GENE) 13.1% HIGHER; bounced over the $3.50 level on a spike in volume.
DSW Inc. (NYSE: DSW) 11.3% LOWER; sees Q2 EPS of 60-64 cents, which compares to the Street estimate of 74 cents. Reiterated its FY12 outlook. Also announced the authorization of a $100 million stock repurchase program.
KIT digital (Nasdaq: KITD) 11.1% LOWER; stock giving up gains from a late-day 11 percent move on Friday. Shares are now below support at $4.50.
BioSante Pharmaceuticals (Nasdaq: BPAX) 9.7% LOWER; lower following a 27 percent move late last week following new LibiGell Phase II data and Phase III initiation.
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