Unusual 11 Mid-Day Movers 08/30: ADAM, HTCH, COGT, REE, PSTI, IMGN Higher; DGIT, KUTV, EMMS, SKH, LULU Lower
ADAM Inc. (Nasdaq: ADAM) 75.4% HIGHER; after announcing a deal to be acquired by Ebix, Inc. (Nasdaq: EBIX) for $66 million.
DG FastChannel (Nasdaq: DGIT) 33.4% LOWER; after saying it expects revenues for the quarter of $51-53 million, versus the consensus of $61.5 million. The company sees EBITDA of $23-24 million. For the full year the Company is comfortable with revenues of approximately $230 to $234 million, which is below the consensus of $246.2 million. The company sees EBITDA for the full year of of approximately $105 to $107 million.
Hutchinson Technology Inc. (Nasdaq: HTCH) 30.9% HIGHER; following a selloff after the company failed to beat analyst expectations for the third quarter, shares are seeing some upside action today following M&A activity in the tech sector. With a market cap of $81.3 million, this Disk Drive component manufacturer may be one acquisition target to watch.
Cogent Inc. (Nasdaq: COGT) 20.4% HIGHER; higher today as the company entered into a definitive agreement to be acquired by 3M (NYSE: MMM) in a deal worth $10.50 per share, or $943 million total.
Ku6 Media Co. (Nasdaq: KUTV) 18.2% LOWER; reports Q2 operating loss of $14.7 million, versus ($9.2) million reported for the same period a year ago. Revenue for the quarter was $2.4 million, compared to $1.2 million in Q209.
Rare Element Resources Ltd. (AMEX: REE) 14.3% HIGHER; shares have been volatile lately, with swings +/- 10% since returing for trading on the NYSE Amex. The company put out a press release on August 24, 2010, starting that they were not aware of any material inforation that would cause the stock to move.
Pluristem Therapeutics, Inc. (Nasdaq: PSTI) 13.9% HIGHER; announced that its PLX cell therapy product, derived from human placenta, a non-controversial, non-embryonic, adult stem cell source, was selected as the only cell therapy product candidate to enter into a study seeking treatments for diastolic heart failure (DHF) in the European Commission’s Seventh Framework Program (FP7). Pluristem is to receive a grant from the FP7 to cover study related R&D expenses. Click here for more.
Emmis Communications Corp. (Nasdaq: EMMS) 13.4% LOWER; JS Acquisition, Inc. and JS Acquisition, LLC announce the extension of their $2.40/share acquisition offer for Emmis. The offer is extended until 5:00 p.m., New York City time, on Thursday, September 2, 2010. The tender offer, as previously extended, was originally scheduled to expire at 5:00 p.m., New York City time, on Friday, August 27, 2010.
Skilled Healthcare Group, Inc. (NYSE: SKH) 10.1% LOWER; the Superior Court of the State of California, County of Humboldt, denied the Motion for Mistrial or New Trial on Grounds of Juror Misconduct filed previously by Skilled Healthcare.
ImmunoGen, Inc. (Nasdaq: IMGN) 9.1% HIGHER; being led higher today by Genzyme (Nasdaq: GENZ), who received a $18.5 billion takeover offer from Sanofi-Aventis (NYSE: SNY).
Lululemon Athletica Inc. (Nasdaq: LULU) 8.8% LOWER; Jefferies & Co. downgraded the stock from Hold to Underperform.
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DG FastChannel (Nasdaq: DGIT) 33.4% LOWER; after saying it expects revenues for the quarter of $51-53 million, versus the consensus of $61.5 million. The company sees EBITDA of $23-24 million. For the full year the Company is comfortable with revenues of approximately $230 to $234 million, which is below the consensus of $246.2 million. The company sees EBITDA for the full year of of approximately $105 to $107 million.
Hutchinson Technology Inc. (Nasdaq: HTCH) 30.9% HIGHER; following a selloff after the company failed to beat analyst expectations for the third quarter, shares are seeing some upside action today following M&A activity in the tech sector. With a market cap of $81.3 million, this Disk Drive component manufacturer may be one acquisition target to watch.
Cogent Inc. (Nasdaq: COGT) 20.4% HIGHER; higher today as the company entered into a definitive agreement to be acquired by 3M (NYSE: MMM) in a deal worth $10.50 per share, or $943 million total.
Ku6 Media Co. (Nasdaq: KUTV) 18.2% LOWER; reports Q2 operating loss of $14.7 million, versus ($9.2) million reported for the same period a year ago. Revenue for the quarter was $2.4 million, compared to $1.2 million in Q209.
Rare Element Resources Ltd. (AMEX: REE) 14.3% HIGHER; shares have been volatile lately, with swings +/- 10% since returing for trading on the NYSE Amex. The company put out a press release on August 24, 2010, starting that they were not aware of any material inforation that would cause the stock to move.
Pluristem Therapeutics, Inc. (Nasdaq: PSTI) 13.9% HIGHER; announced that its PLX cell therapy product, derived from human placenta, a non-controversial, non-embryonic, adult stem cell source, was selected as the only cell therapy product candidate to enter into a study seeking treatments for diastolic heart failure (DHF) in the European Commission’s Seventh Framework Program (FP7). Pluristem is to receive a grant from the FP7 to cover study related R&D expenses. Click here for more.
Emmis Communications Corp. (Nasdaq: EMMS) 13.4% LOWER; JS Acquisition, Inc. and JS Acquisition, LLC announce the extension of their $2.40/share acquisition offer for Emmis. The offer is extended until 5:00 p.m., New York City time, on Thursday, September 2, 2010. The tender offer, as previously extended, was originally scheduled to expire at 5:00 p.m., New York City time, on Friday, August 27, 2010.
Skilled Healthcare Group, Inc. (NYSE: SKH) 10.1% LOWER; the Superior Court of the State of California, County of Humboldt, denied the Motion for Mistrial or New Trial on Grounds of Juror Misconduct filed previously by Skilled Healthcare.
ImmunoGen, Inc. (Nasdaq: IMGN) 9.1% HIGHER; being led higher today by Genzyme (Nasdaq: GENZ), who received a $18.5 billion takeover offer from Sanofi-Aventis (NYSE: SNY).
Lululemon Athletica Inc. (Nasdaq: LULU) 8.8% LOWER; Jefferies & Co. downgraded the stock from Hold to Underperform.
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