Unusual 11 Mid-Day Movers 07/23: (GALT) (NXY) (GEOY) Higher; (ITMN) (WSLA) (PETS) Lower
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Galectin Therapeutics (Nasdaq: GALT) 65.2% HIGHER; received a notice of issuance from the U.S. Patent and Trademark Office for Patent Number 8,236,780 “Galactose-prolonged polysaccharides in a formulation for antifibrotic therapies”. The patent covers key methods of derivation and use for the Company’s carbohydrate-based galectin inhibitor compound for use in patients with chronic liver disease associated with the development of fibrosis, established liver fibrosis or end-stage scarring, or cirrhosis.
Nexen Inc. (NYSE: NXY) 52.2% HIGHER; CNOOC Limited (NYSE: CEO) and Nexen have entered into a definitive agreement under which CNOOC Limited will acquire all of the outstanding common shares of Nexen for US$27.50 per share in cash.
GeoEye, Inc. (Nasdaq: GEOY) 32.4% HIGHER; DigitalGlobe, Inc. (NYSE: DGI) and GeoEye today announced that the boards of directors of both companies have unanimously approved a definitive merger agreement under which the companies will combine in a stock and cash transaction valued at approximately $900 million.
Peet's Coffee & Tea, Inc. (Nasdaq: PEET) 28.6% HIGHER; to be acquired by for $73.50/share by Joh. A. Benckiser.
GenOn Energy, Inc. (NYSE: GEN) 27.5% HIGHER; NRG Energy, Inc. (NYSE: NRG) and GenOn have signed a definitive agreement to combine the two companies in a stock-for-stock tax-free transaction. GenOn shareholders will receive 0.1216 of a share of NRG common stock in exchange for each GenOn share of common stock.
Peregrine Pharma (Nasdaq: PPHM) 27.1% HIGHER; breaking out above resistance around $1.25 today. Shares are holding above $1.50. Volume is extremely heavy this morning. Under the terms of the agreement, GeoEye shareowners will have the right to elect either 1.137 shares of DigitalGlobe common stock and $4.10 per share in cash.
InterMune, Inc. (Nasdaq: ITMN) 15.1% LOWER; reported Q2 EPS of ($0.78), which was 55 cents worse than the analyst estimate of ($0.23). Revenue for the quarter came in at $5.54 million versus the consensus estimate of $39.99 million.
The Wet Seal, Inc. (Nasdaq: WTSLA) 13.9% LOWER; announced today that its Board of Directors has terminated the employment of the Company’s Chief Executive Officer, Susan McGalla, effective immediately. Sees a Q2 loss before non-cash impairment and CEO severance costs of 6-7 cents per share.
Petmed Express, Inc. (Nasdaq: PETS) 11.8% LOWER; reported Q2 EPS of $0.20, missing views by 3 cents. Revenue for the quarter came in at $69 million versus the consensus estimate of $77.3 million.
Meadowbrook Insurance Group (NYSE: MIG) 11.8% LOWER; continuing lower following a 15 percent move lower on Friday. The company said it sees Q2 loss of about 15-16 cents per share, which compares to the Street estimate looking for a gain of 22 cents per share. Revised its FY12 EPS guidance to 55-60 cents per share, which compares to the Street estimate of 86 cents per share. The company was previously looking for EPS of $1.05-$1.15.
Hanwha Solarone (Nasdaq: HSOL) 10.0% LOWER; breaking below support at $1.15 today. Shares are still being supported by the 50-day SMA, which is currently at $1.07.
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Nexen Inc. (NYSE: NXY) 52.2% HIGHER; CNOOC Limited (NYSE: CEO) and Nexen have entered into a definitive agreement under which CNOOC Limited will acquire all of the outstanding common shares of Nexen for US$27.50 per share in cash.
GeoEye, Inc. (Nasdaq: GEOY) 32.4% HIGHER; DigitalGlobe, Inc. (NYSE: DGI) and GeoEye today announced that the boards of directors of both companies have unanimously approved a definitive merger agreement under which the companies will combine in a stock and cash transaction valued at approximately $900 million.
Peet's Coffee & Tea, Inc. (Nasdaq: PEET) 28.6% HIGHER; to be acquired by for $73.50/share by Joh. A. Benckiser.
GenOn Energy, Inc. (NYSE: GEN) 27.5% HIGHER; NRG Energy, Inc. (NYSE: NRG) and GenOn have signed a definitive agreement to combine the two companies in a stock-for-stock tax-free transaction. GenOn shareholders will receive 0.1216 of a share of NRG common stock in exchange for each GenOn share of common stock.
Peregrine Pharma (Nasdaq: PPHM) 27.1% HIGHER; breaking out above resistance around $1.25 today. Shares are holding above $1.50. Volume is extremely heavy this morning. Under the terms of the agreement, GeoEye shareowners will have the right to elect either 1.137 shares of DigitalGlobe common stock and $4.10 per share in cash.
InterMune, Inc. (Nasdaq: ITMN) 15.1% LOWER; reported Q2 EPS of ($0.78), which was 55 cents worse than the analyst estimate of ($0.23). Revenue for the quarter came in at $5.54 million versus the consensus estimate of $39.99 million.
The Wet Seal, Inc. (Nasdaq: WTSLA) 13.9% LOWER; announced today that its Board of Directors has terminated the employment of the Company’s Chief Executive Officer, Susan McGalla, effective immediately. Sees a Q2 loss before non-cash impairment and CEO severance costs of 6-7 cents per share.
Petmed Express, Inc. (Nasdaq: PETS) 11.8% LOWER; reported Q2 EPS of $0.20, missing views by 3 cents. Revenue for the quarter came in at $69 million versus the consensus estimate of $77.3 million.
Meadowbrook Insurance Group (NYSE: MIG) 11.8% LOWER; continuing lower following a 15 percent move lower on Friday. The company said it sees Q2 loss of about 15-16 cents per share, which compares to the Street estimate looking for a gain of 22 cents per share. Revised its FY12 EPS guidance to 55-60 cents per share, which compares to the Street estimate of 86 cents per share. The company was previously looking for EPS of $1.05-$1.15.
Hanwha Solarone (Nasdaq: HSOL) 10.0% LOWER; breaking below support at $1.15 today. Shares are still being supported by the 50-day SMA, which is currently at $1.07.
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