Unusual 11 Mid-Day Movers 07/21: PRKR, FONR, DSTI, HAUP, SPDE, CYT Higher; GCA, DEAR, CMTL, PNFP, HBHC Lower
ParkerVision, Inc. (Nasdaq: PRKR) 46.7% HIGHER; has entered into an agreement with its confidential baseband partner to supply RF chipsets that incorporate ParkerVision's d2p technology, for a 3G mobile handset design win. The agreement includes negotiated pricing and other terms for the baseband partner's purchase of one million RF chipsets from ParkerVision. The chipsets will be used with baseband processors sold to a leading mobile handset OEM, who is a significant customer of ParkerVision's baseband partner. Click here to see the full report.
Global Cash Access (NYSE: GCA) 41.0% LOWER; in a Form 8-K this morning, the company disclosed that Harrah's will not renew its agreements with certain subsidiaries of Global Cash Access for the provision of automated teller machine services, point-of-sale debit services and credit card cash access services.
Dearborn Bancorp (Nasdaq: DEAR) 27.5% LOWER; reports Q2 loss of $1.78, versus a loss of $1.19 reported for the same period a year ago.
Comtech Telecommunications Corp. (Nasdaq: CMTL) 26.7% LOWER; announced today that its Maryland-based subsidiary, Comtech Mobile Datacom Corporation, has been advised by the U.S. Army Contracting Command-CECOM Contracting Center that it was not selected as the program manager and vendor for the Force XXI Battle Command Brigade and Below, Blue Force Tracking 2 (FBCB2-BFT-2) program. Click here for more from the report.
FONAR Corporation (Nasdaq: FONR) 25.2% HIGHER; announces new breakthrough results for the FONAR UPRIGHT Multi-Position MRI. The medical journal "Brain Injury" (July 2010:24(7-8):988-994) has just released the exciting results of a study of 1200 neck pain patients. As the authors reported, the frequency of these fallen cerebellar tonsils was found "4 times more often" in neck pain patients who had experienced whiplash trauma versus neck pain patients that had not experienced recent trauma, when the FONAR UPRIGHT MRI scanner was used.
DayStar Technologies Inc. (Nasdaq: DSTI) 23.5% HIGHER; started above the $1.00 level today, and also broke its 50-day SMA this morning. Volume, at about 3x 3-month average, may give this breakout some legs.
Pinnacle Financial Partners Inc. (Nasdaq: PNFP) 18.4% LOWER; reports Q2 loss of $0.85, versus the analyst estimate of ($0.08). The stock was also downgraded to Sell at Janney.
Hauppauge Digital Inc. (Nasdaq: HAUP) 17.3% HIGHER; looks to have surpassed a $2.00 resistance point which was previously tested as a support level on June 29th. May turn into a new support level if the breakout holds. HAUP had been trading in a range of $1.70 to $1.95 over the two weeks.
Speedus Corp. (Nasdaq: SPDE) 17.0% HIGHER; announced that it has entered into a Letter of Intent with Dubai-based Hye Mar Holdings Ltd. for an equity investment into Speedus of $4.0 million. Under the terms set forth in the Agreement, HMH has the right to purchase non-voting Series A Convertible Preferred Stock, which is convertible into approximately 1.84 million newly-issued common shares in Speedus with a fixed, non-adjustable conversion price of $2.17 per share (subject to an ownership limit such that HMH may not hold more than 9.9% of the Company's total shares outstanding at any point in time). The Agreement also provides for HMH to obtain exclusive distribution rights in the Middle East and North Africa for certain products manufactured by Speedus subsidiaries Zargis Medical Corp. (Zargis) and Density Dynamics Corp. (Density). No additional warrants for shares will be issued in this transaction and no related investment banking fees will be incurred.
Cytec (NYSE: CYT) 16.2% HIGHER; reports Q2 EPS of $1.31, 64 cents better than the analyst estimate of $0.67. Revenue for the quarter was $874 million, which compares to the estimate of $801.84 million. "We now expect to achieve 2010 revenues of $3.2 to $3.4 billion versus our prior projection of $2.7 to $3.0 billion, and as adjusted 2010 diluted earnings per share in a range between $3.20 to $3.50, up from our prior as adjusted forecast of $1.90 to $2.40 per diluted share." (FY10 revenue consensus is $3.14B and EPS consensus is $2.52).
Hancock Holding Co. (Nasdaq: HBHC) 13.2% LOWER; reports Q2 EPS of $0.17, which may not compare the analyst estimate of $0.44. The stock was downgraded at Sandler O'Neill.
To get this report daily visit http://www.streetinsider.com/entities/Unusual+11+Mid-Day+Movers..
Global Cash Access (NYSE: GCA) 41.0% LOWER; in a Form 8-K this morning, the company disclosed that Harrah's will not renew its agreements with certain subsidiaries of Global Cash Access for the provision of automated teller machine services, point-of-sale debit services and credit card cash access services.
Dearborn Bancorp (Nasdaq: DEAR) 27.5% LOWER; reports Q2 loss of $1.78, versus a loss of $1.19 reported for the same period a year ago.
Comtech Telecommunications Corp. (Nasdaq: CMTL) 26.7% LOWER; announced today that its Maryland-based subsidiary, Comtech Mobile Datacom Corporation, has been advised by the U.S. Army Contracting Command-CECOM Contracting Center that it was not selected as the program manager and vendor for the Force XXI Battle Command Brigade and Below, Blue Force Tracking 2 (FBCB2-BFT-2) program. Click here for more from the report.
FONAR Corporation (Nasdaq: FONR) 25.2% HIGHER; announces new breakthrough results for the FONAR UPRIGHT Multi-Position MRI. The medical journal "Brain Injury" (July 2010:24(7-8):988-994) has just released the exciting results of a study of 1200 neck pain patients. As the authors reported, the frequency of these fallen cerebellar tonsils was found "4 times more often" in neck pain patients who had experienced whiplash trauma versus neck pain patients that had not experienced recent trauma, when the FONAR UPRIGHT MRI scanner was used.
DayStar Technologies Inc. (Nasdaq: DSTI) 23.5% HIGHER; started above the $1.00 level today, and also broke its 50-day SMA this morning. Volume, at about 3x 3-month average, may give this breakout some legs.
Pinnacle Financial Partners Inc. (Nasdaq: PNFP) 18.4% LOWER; reports Q2 loss of $0.85, versus the analyst estimate of ($0.08). The stock was also downgraded to Sell at Janney.
Hauppauge Digital Inc. (Nasdaq: HAUP) 17.3% HIGHER; looks to have surpassed a $2.00 resistance point which was previously tested as a support level on June 29th. May turn into a new support level if the breakout holds. HAUP had been trading in a range of $1.70 to $1.95 over the two weeks.
Speedus Corp. (Nasdaq: SPDE) 17.0% HIGHER; announced that it has entered into a Letter of Intent with Dubai-based Hye Mar Holdings Ltd. for an equity investment into Speedus of $4.0 million. Under the terms set forth in the Agreement, HMH has the right to purchase non-voting Series A Convertible Preferred Stock, which is convertible into approximately 1.84 million newly-issued common shares in Speedus with a fixed, non-adjustable conversion price of $2.17 per share (subject to an ownership limit such that HMH may not hold more than 9.9% of the Company's total shares outstanding at any point in time). The Agreement also provides for HMH to obtain exclusive distribution rights in the Middle East and North Africa for certain products manufactured by Speedus subsidiaries Zargis Medical Corp. (Zargis) and Density Dynamics Corp. (Density). No additional warrants for shares will be issued in this transaction and no related investment banking fees will be incurred.
Cytec (NYSE: CYT) 16.2% HIGHER; reports Q2 EPS of $1.31, 64 cents better than the analyst estimate of $0.67. Revenue for the quarter was $874 million, which compares to the estimate of $801.84 million. "We now expect to achieve 2010 revenues of $3.2 to $3.4 billion versus our prior projection of $2.7 to $3.0 billion, and as adjusted 2010 diluted earnings per share in a range between $3.20 to $3.50, up from our prior as adjusted forecast of $1.90 to $2.40 per diluted share." (FY10 revenue consensus is $3.14B and EPS consensus is $2.52).
Hancock Holding Co. (Nasdaq: HBHC) 13.2% LOWER; reports Q2 EPS of $0.17, which may not compare the analyst estimate of $0.44. The stock was downgraded at Sandler O'Neill.
To get this report daily visit http://www.streetinsider.com/entities/Unusual+11+Mid-Day+Movers..
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