Unusual 11 Mid-Day Movers 07/15: VRNM, NTY, SKH, ARNA, KV-B/KV-A, MSN Higher; CRYP, HDNG, ONP, OPNT, HSWI Lower
Verenium Corporation (Nasdaq: VRNM) 51.6% HIGHER; BP (NYSE: BP) and Verenium today announced an agreement for BP Biofuels North America to acquire Verenium's cellulosic biofuels business, including the Company's facilities in Jennings, LA and San Diego, CA for $98.3 million. Click here for the full report.
NBTY, Inc. (NYSE: NTY) 43.5% HIGHER; entered a definitive merger agreement under which The Carlyle Group will acquire NBTY in a transaction valued at $3.8 billion. Under the terms of the merger agreement, Carlyle will acquire all of the outstanding common shares of NBTY for $55.00 per share in cash.
Skilled Healthcare Group, Inc. (NYSE: SKH) 31.6% HIGHER; today reported that the Company has agreed to a stipulation with the other parties to the case entitled Vinnie Lavender, by and through her Conservator, Wanda Baker; Walter Simon; Jacquelyn Vilchinsky vs. Skilled Healthcare Group, Inc., et al. (and 22 individually-named California nursing facilities receiving administrative services from Skilled Healthcare, LLC). Pursuant to the stipulation, the parties have agreed to stay all proceedings in the litigation to pursue mediation. The stipulation is subject to approval by the Humboldt County Superior Court of California, and is scheduled to be submitted to the judge there on July 15, 2010.
Arena Pharmaceuticals, Inc. (Nasdaq: ARNA) 29.7% HIGHER; and Eisai Inc. today announced that results from the two-year BLOOM (Behavioral modification and Lorcaserin for Overweight and Obesity Management) trial will be published in the July 15, 2010, issue of the New England Journal of Medicine. The data presented in the article show that lorcaserin used in conjunction with behavioral modification caused significantly greater weight loss and improved maintenance of weight loss compared to placebo.
K-V Pharma (NYSE: KV-A) (NYSE: KV-B) 27.8% HIGHER; continuing higher today following a 54% surge yesterday amid news that the company has resubmitted its NDA for Gestiva.
Emerson Radio Corp. (NYSE: MSN) 26.6% HIGHER; reports Q4 EPS from continuing operations of $0.13, versus a loss of $0.09 in the same quarter last year. Revenue for the quarter was $51.5 million, which compares to the estimate of $41.81 million.
CryptoLogic Limited (Nasdaq: CRYP) 20.8% LOWER; announces today that it expects Q2 2010 Total Revenue to show a slight decline over Q1 and that Total Costs will be greater than expected. As a result, the Operating Loss in Q2 will be higher than Q1 and the Company's outlook for the year is much less encouraging than at the time of the Q1 results announcement.
Hardinge Inc. (Nasdaq: HDNG) 12.1% LOWER; Industrias Romi S.A. today announced the expiration of its tender offer to acquire all of the outstanding shares of Hardinge. Romi also announced that as of 5:00 pm, New York City time, on July 14, 2010, 5,726,020 shares, representing over 49.3% of Hardinge's outstanding shares, had been validly tendered and not withdrawn, which constitutes a majority of the shares not owned by Hardinge insiders.
Orient Paper Inc. (AMEX: ONP) 10.1% LOWER; could be moving lower today due to an article at Seeking Alpha, which outlines details as to why Orient Paper may be falsifying their financial statements. The article gives four distinct reasons: 80% of their top 10 customers change Y/Y; a video and pictures showing a lower quality plant than many of its competitors; Muddy Waters tried to contact the top 10 customers and could only reach five for verification; SEC filings reveal that turnover is unusually high for a paper company, as well as revenue and earnings growth with stagnant employee count.
OPNET Tech. (Nasdaq: OPNT) 12.6% LOWER; lowers its Q1 sales guidance from $32-$34.5 million to $30.9-$31.1 million, which compares to the Street estimate of $33.65 million. EPS guidance for the quarter is narrowed from $0.03-$0.08 to $0.05-$0.06, versus the consensus estimate of $0.11.
HSW International (Nasdaq: HSWI) 9.5% LOWER; the stock is correcting today following a 100% surge yesterday amid news of a new contract with NetEase (Nasdaq: NTES).
To get this report daily visit http://www.streetinsider.com/entities/Unusual+11+Mid-Day+Movers..
NBTY, Inc. (NYSE: NTY) 43.5% HIGHER; entered a definitive merger agreement under which The Carlyle Group will acquire NBTY in a transaction valued at $3.8 billion. Under the terms of the merger agreement, Carlyle will acquire all of the outstanding common shares of NBTY for $55.00 per share in cash.
Skilled Healthcare Group, Inc. (NYSE: SKH) 31.6% HIGHER; today reported that the Company has agreed to a stipulation with the other parties to the case entitled Vinnie Lavender, by and through her Conservator, Wanda Baker; Walter Simon; Jacquelyn Vilchinsky vs. Skilled Healthcare Group, Inc., et al. (and 22 individually-named California nursing facilities receiving administrative services from Skilled Healthcare, LLC). Pursuant to the stipulation, the parties have agreed to stay all proceedings in the litigation to pursue mediation. The stipulation is subject to approval by the Humboldt County Superior Court of California, and is scheduled to be submitted to the judge there on July 15, 2010.
Arena Pharmaceuticals, Inc. (Nasdaq: ARNA) 29.7% HIGHER; and Eisai Inc. today announced that results from the two-year BLOOM (Behavioral modification and Lorcaserin for Overweight and Obesity Management) trial will be published in the July 15, 2010, issue of the New England Journal of Medicine. The data presented in the article show that lorcaserin used in conjunction with behavioral modification caused significantly greater weight loss and improved maintenance of weight loss compared to placebo.
K-V Pharma (NYSE: KV-A) (NYSE: KV-B) 27.8% HIGHER; continuing higher today following a 54% surge yesterday amid news that the company has resubmitted its NDA for Gestiva.
Emerson Radio Corp. (NYSE: MSN) 26.6% HIGHER; reports Q4 EPS from continuing operations of $0.13, versus a loss of $0.09 in the same quarter last year. Revenue for the quarter was $51.5 million, which compares to the estimate of $41.81 million.
CryptoLogic Limited (Nasdaq: CRYP) 20.8% LOWER; announces today that it expects Q2 2010 Total Revenue to show a slight decline over Q1 and that Total Costs will be greater than expected. As a result, the Operating Loss in Q2 will be higher than Q1 and the Company's outlook for the year is much less encouraging than at the time of the Q1 results announcement.
Hardinge Inc. (Nasdaq: HDNG) 12.1% LOWER; Industrias Romi S.A. today announced the expiration of its tender offer to acquire all of the outstanding shares of Hardinge. Romi also announced that as of 5:00 pm, New York City time, on July 14, 2010, 5,726,020 shares, representing over 49.3% of Hardinge's outstanding shares, had been validly tendered and not withdrawn, which constitutes a majority of the shares not owned by Hardinge insiders.
Orient Paper Inc. (AMEX: ONP) 10.1% LOWER; could be moving lower today due to an article at Seeking Alpha, which outlines details as to why Orient Paper may be falsifying their financial statements. The article gives four distinct reasons: 80% of their top 10 customers change Y/Y; a video and pictures showing a lower quality plant than many of its competitors; Muddy Waters tried to contact the top 10 customers and could only reach five for verification; SEC filings reveal that turnover is unusually high for a paper company, as well as revenue and earnings growth with stagnant employee count.
OPNET Tech. (Nasdaq: OPNT) 12.6% LOWER; lowers its Q1 sales guidance from $32-$34.5 million to $30.9-$31.1 million, which compares to the Street estimate of $33.65 million. EPS guidance for the quarter is narrowed from $0.03-$0.08 to $0.05-$0.06, versus the consensus estimate of $0.11.
HSW International (Nasdaq: HSWI) 9.5% LOWER; the stock is correcting today following a 100% surge yesterday amid news of a new contract with NetEase (Nasdaq: NTES).
To get this report daily visit http://www.streetinsider.com/entities/Unusual+11+Mid-Day+Movers..
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