Unusual 11 Mid-Day Movers 08/28: (SBX) (MPET) (PPHM) Higher; (CPRX) (HEB) (PPO) Lower
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Price: $11.11 --0%
Overall Analyst Rating:
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Dividend Yield: 1.8%
Revenue Growth %: -2.1%
Overall Analyst Rating:
NEUTRAL (
Up)Dividend Yield: 1.8%
Revenue Growth %: -2.1%
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SeaBright Holdings, Inc. (NYSE: SBX) 32.4% HIGHER; Enstar Group Limited (Nasdaq: ESGR) and SeaBright entered into a definitive merger agreement under which Enstar will acquire SeaBright for $11.11 per share in cash.
Magellan Petroleum Corp. (Nasdaq: MPET) 28.6% HIGHER; Stratex Oil & Gas Holdings, Inc. (OTCQB: STTX) made an offer to acquire Magellan Petroleum for $2.30 per share in cash and stock.
Peregrine Pharmaceuticals, Inc. (Nasdaq: PPHM) 25.0% HIGHER; popping higher after dipping 15 percent Monday on a negative blog post.
Catalyst Pharmaceutical Partners, Inc. (Nasdaq: CPRX) 18.5% LOWER; announced today that it has entered into definitive agreements to sell (i) 4.0 million shares of the Company's common stock, and (ii) common stock purchase warrants to purchase an aggregate of 1.2 million shares of the Company's common stock, in a registered direct public offering.
Movado Group (NYSE: MOV) 17.4% HIGHER; reported Q2 EPS of $0.30, $0.12 better than the analyst estimate of $0.18. Revenue for the quarter came in at $118 million versus the consensus estimate of $122 million. Sees FY2013 EPS of $1.40, versus prior guidance of $1.15 and the consensus of $1.24 and revenue of $510 million, versus prior guidance of $505 million and the consensus of $504.50 million.
Lexmark International, Inc. (NYSE: LXK) 15.3% HIGHER; announced restructuring actions, including the exiting of the development and manufacturing of the company's remaining inkjet hardware, which are expected to result in annualized savings of $95 million once fully implemented. Lexmark today announced that it plans an additional $100 million of share repurchases in the third and fourth quarter of 2012.
Discovery Laboratories Inc. (Nasdaq: DSCO) 14.3% HIGHER; moving well above the $3 price level. Discovery is on a three-session winning streak after being flat much of the last two weeks.
Hemispherx Biopharma, Inc. (AMEX: HEB) 13.0% LOWER; shares have been volatile here, just coming off of annual highs at 75 cents per share on August 24th. Shares were at 30 cents as recently as the start of July, making the run fairly impressive.
Polypore International Inc. (NYSE: PPO) 7.7% LOWER; GM (NYSE: GM) will halt production of the Chevy Volt for four weeks (Sept 17-mid Oct).
AK Steel (NYSE: AKS) 6.9% LOWER; UBS cut its rating on AK from Neutral to Sell, while lowering its price target cut from $5.50 to $4.
Brown Shoe Co., Inc. (NYSE: BWS) 6.3% LOWER; reported Q2 EPS of $0.16, $0.13 better than the analyst estimate of $0.03. Revenue for the quarter came in at $599.3 million versus the consensus estimate of $606.31 million. Sees FY2012 EPS of $0.85-0.95, versus prior guidance of $0.83-0.95 and the consensus of $0.89. Also sees FY2012 revenue of $2.57-2.59 billion, versus the consensus of $2.57 billion.
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Magellan Petroleum Corp. (Nasdaq: MPET) 28.6% HIGHER; Stratex Oil & Gas Holdings, Inc. (OTCQB: STTX) made an offer to acquire Magellan Petroleum for $2.30 per share in cash and stock.
Peregrine Pharmaceuticals, Inc. (Nasdaq: PPHM) 25.0% HIGHER; popping higher after dipping 15 percent Monday on a negative blog post.
Catalyst Pharmaceutical Partners, Inc. (Nasdaq: CPRX) 18.5% LOWER; announced today that it has entered into definitive agreements to sell (i) 4.0 million shares of the Company's common stock, and (ii) common stock purchase warrants to purchase an aggregate of 1.2 million shares of the Company's common stock, in a registered direct public offering.
Movado Group (NYSE: MOV) 17.4% HIGHER; reported Q2 EPS of $0.30, $0.12 better than the analyst estimate of $0.18. Revenue for the quarter came in at $118 million versus the consensus estimate of $122 million. Sees FY2013 EPS of $1.40, versus prior guidance of $1.15 and the consensus of $1.24 and revenue of $510 million, versus prior guidance of $505 million and the consensus of $504.50 million.
Lexmark International, Inc. (NYSE: LXK) 15.3% HIGHER; announced restructuring actions, including the exiting of the development and manufacturing of the company's remaining inkjet hardware, which are expected to result in annualized savings of $95 million once fully implemented. Lexmark today announced that it plans an additional $100 million of share repurchases in the third and fourth quarter of 2012.
Discovery Laboratories Inc. (Nasdaq: DSCO) 14.3% HIGHER; moving well above the $3 price level. Discovery is on a three-session winning streak after being flat much of the last two weeks.
Hemispherx Biopharma, Inc. (AMEX: HEB) 13.0% LOWER; shares have been volatile here, just coming off of annual highs at 75 cents per share on August 24th. Shares were at 30 cents as recently as the start of July, making the run fairly impressive.
Polypore International Inc. (NYSE: PPO) 7.7% LOWER; GM (NYSE: GM) will halt production of the Chevy Volt for four weeks (Sept 17-mid Oct).
AK Steel (NYSE: AKS) 6.9% LOWER; UBS cut its rating on AK from Neutral to Sell, while lowering its price target cut from $5.50 to $4.
Brown Shoe Co., Inc. (NYSE: BWS) 6.3% LOWER; reported Q2 EPS of $0.16, $0.13 better than the analyst estimate of $0.03. Revenue for the quarter came in at $599.3 million versus the consensus estimate of $606.31 million. Sees FY2012 EPS of $0.85-0.95, versus prior guidance of $0.83-0.95 and the consensus of $0.89. Also sees FY2012 revenue of $2.57-2.59 billion, versus the consensus of $2.57 billion.
To get this report daily visit http://www.streetinsider.com/entities/Unusual+11+Mid-Day+Movers.
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