Unusual 11 Mid-Day Movers 07/28: APL, SIMG, HGRD, FCEL, EHTH, AFFX Higher; ONP, DJSP, SBX, MSO, CIIC Lower
Atlas Pipeline Partners, L.P. (NYSE: APL) 31.0% HIGHER; announced it has entered into a definitive agreement to sell its Elk City facilities to Enbridge Energy Partners, L.P. (NYSE: EEP) for $682 million in cash, subject to working capital adjustments. Upon completion of the transaction, Atlas Pipeline will pay-off its $422 million secured term loan and repay approximately $250 million of its revolving credit facility, leaving an anticipated $340 million of liquidity under this line and an outstanding balance of approximately $40 million. Shares of Atlas Pipeline Holdings (NYSE: AHD) are also trading 25.2% HIGHER.
Silicon Image (Nasdaq: SIMG) 28.1% HIGHER; reports Q2 EPS of $0.03, cents better than the analyst estimate of ($0.03). Revenue for the quarter was $44.6 million, which compares to the estimate of $37.95 million. Silicon Image sees Q3 sales of $48-50 million, versus the consensus of $43.5 million.
Health Grades, Inc. (Nasdaq: HGRD) 27.9% HIGHER; Vestar Capital Partners V, L.P. agreed to acquire and Health Grades for $8.20 per share.
Orient Paper (NYSE: ONP) 20.2% LOWER; shares are pushing below a technical support level at $5 today. An analyst at Roth Capital, one of the only analysts on the Street that covers the stock, suspended coverage on the stock this morning pending results of the company's independent third party investigation. Roth previously had a Buy rating and $16 price target on the stock.
DJSP Enterprises, Inc. (Nasdaq: DJSP) 18.6% LOWER; after the market yesterday, the company announced that file volumes have increased incrementally following completion of the technology conversion at one of the nation's largest loan servicers that interrupted referral volumes during the second quarter. The Company's overall new foreclosure file volumes, however, have not returned to first quarter levels. Foreclosure file volumes for July 2010 are expected to be up approximately 25% from June 2010 but below average monthly file volumes for the first quarter of 2010. Due to ongoing unpredictability and market-driven declines caused by government sponsored programs aimed at helping borrowers avoid foreclosure and the Company's commitment to long term strategic goals, the Company is indefinitely suspending providing financial guidance, and is withdrawing its previously disclosed guidance for 2010.
FuelCell Energy Inc. (Nasdaq: FCEL) 13.0% HIGHER; shares bouncing off of the 200-SMA.
eHealth (Nasdaq: EHTH) 12.5% HIGHER; reports Q2 EPS of $0.17, 2 cents better than the analyst estimate of $0.15. Revenue for the quarter was $36.3 million, which compares to the estimate of $37.70 million. Sees FY10 revenues in the range of $152 million to $157 million vs. consensus of $153.92M. Sees FY10 GAAP EPS in the range of $0.55 to $0.65 per share vs. consensus of $0.60 (may not be comparable) Board of Directors has approved a stock repurchase program authorizing the Company to purchase up to $30 million of its common stock. The stock was also upgraded at Oppenheimer.
SeaBright Holdings, Inc. (NYSE: SBX) 12.2% LOWER; reports Q2 loss of $0.74, versus the analyst estimate of $0.18. Revenue for the quarter was $65.62 million, which compares to the estimate of $71.78 million.
Martha Stewart (NYSE: MSO) 11.2% LOWER; reports Q2 loss of $0.02, 1 cent better than the analyst estimate of ($0.03). Revenue for the quarter was $55.3 million, which compares to the estimate of $55.36 million.
China Infrastructure Investment Corp. (Nasdaq: CIIC) 11.9% LOWER; continuing lower today after the stock vacillated around the $1 support level yesterday. Although the stock closed yesterday above $1, traders have brought it below this important technical level today. Volume is very heavy: already 2 million shares have traded hands, which compares to the stocks average daily volume of just 156,000.
Affymetrix, Inc. (Nasdaq: AFFX) 10.2% HIGHER; announced that it will develop and commercialize the Axiom Chinese myDesign Genotyping Array, the first product that provides maximum power for genome-wide association studies (GWAS) specifically on Chinese populations. Also, CFO Tim Barabe disclosed acquiring 10,000 shares at $4.5 per share.
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