Unusual 11 Mid-Day Movers 09/06: (RDN) (NAV) (MW) Higher; (OCZ) (FCEL) (PAY) Lower
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OCZ Technology Group, Inc. (Nasdaq: OCZ), 20.2 % LOWER; announced its preliminary revenue for the second quarter of fiscal year 2013 (Q2'13), which ended on August 31, 2012. The Company expects preliminary revenue for the second fiscal quarter of 2013 to be approximately $110 to 120 million compared to the previously guided revenue range of $130 to $140 million. This preliminary revenue range compares to $113.6 million for the first fiscal quarter of 2013 and $78.5 million for the second fiscal quarter of 2012. The Street sees revs of $134.4 million. Downgraded at Craig-Hallum, FBN Securities, and Needham & Company today.
Radian Group Inc. (NYSE: RDN), 18.2% HIGHER; unt released data for primary mortgage insurance delinquencies for August 2012. Beginning Primary Delinquent Inventory of 91,012 fell to 94,823 by the end of August.
Navistar International (NYSE: NAV) 15.4% HIGHER; reported Q3 EPS of $1.22, $2.58 better than the analyst estimate of ($1.36). Revenue for the quarter came in at $3.32 billion versus the consensus estimate of $2.96 billion.The company also announced it has launched a review of all of its non-core businesses with the goal of improving its return on invested capital and driving long-term profitability. As a result of this, along with uncertain industry conditions, the company is not providing fourth quarter earnings guidance until industry volumes solidify and these potential actions are defined.
Mens Wearhouse, Inc. (NYSE: MW) 14.5% HIGHER; reported Q2 EPS of $1.15, $0.03 better than the analyst estimate of $1.12. Revenue for the quarter came in at $662.3 million versus the consensus estimate of $663.88 million. Comparable store sales increased 4.4%. Sees FY2012 EPS of $2.74 - $2.80, versus the consensus of $2.71. Also sees Q3 2012 EPS of $0.95 - $0.98, versus the consensus of $0.96.
FuelCell Energy, Inc. (Nasdaq: FCEL) 12.3% LOWER; reported Q3 EPS of ($0.06), $0.02 worse than the analyst estimate of ($0.04). Revenue for the quarter came in at $29.7 million versus the consensus estimate of $31.94 million.
Snyder's-Lance, Inc. (Nasdaq: LNCE) 12.0% HIGHER; announced plans to acquire Snack Factory, LLC and certain affiliates, for $340 million in cash. This includes approximately $60 million of net present value of future tax benefits. Snyder's-Lance, Inc. (Snyder's-Lance) expects to close the transaction early in the fourth quarter.
ImmunoCellular Therapeutics (NYSE: IMUC) 11.7% HIGHER; Maxim Group initiated coverage on with a Buy and $18 price target.
USA Technologies, Inc. (Nasdaq: USAT) 11.5% HIGHER; reported Q4 EPS of ($0.01), $0.03 better than the analyst estimate of ($0.04). Revenue for the quarter came in at $7.9 million versus the consensus estimate of $7.98 million.
VeriFone Systems (NYSE: PAY) 11.3% LOWER; reported Q3 EPS of $0.75, $0.05 better than the analyst estimate of $0.70. Revenue for the quarter came in at $493 million versus the consensus estimate of $498.34 million. Sees FY2012 EPS of $2.73 - $2.75, versus the consensus of $2.66. VeriFone Systems sees FY2012 revenue of $1.893 - $1.898 billion, versus the consensus of $1.92 billion. Also sees Q4 2012 EPS of $0.75 - $0.77, versus the consensus of $0.74 and revenue of $495 - $500 million, versus the consensus of $520.15 million. For more, click here.
MarketAxess Holdings Inc. (Nasdaq: MKTX), 11.3% LOWER; announced total monthly trading volume for August 2012 of $44.4 billion, consisting of $27.7 billion in U.S. high-grade volume, $1.6 billion in eurobond volume, and $15.2 billion in other volume.
Tangoe, Inc. (Nasdaq: TNGO) 11.3% LOWER; lower on a Copperfield Research report today.
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Radian Group Inc. (NYSE: RDN), 18.2% HIGHER; unt released data for primary mortgage insurance delinquencies for August 2012. Beginning Primary Delinquent Inventory of 91,012 fell to 94,823 by the end of August.
Navistar International (NYSE: NAV) 15.4% HIGHER; reported Q3 EPS of $1.22, $2.58 better than the analyst estimate of ($1.36). Revenue for the quarter came in at $3.32 billion versus the consensus estimate of $2.96 billion.The company also announced it has launched a review of all of its non-core businesses with the goal of improving its return on invested capital and driving long-term profitability. As a result of this, along with uncertain industry conditions, the company is not providing fourth quarter earnings guidance until industry volumes solidify and these potential actions are defined.
Mens Wearhouse, Inc. (NYSE: MW) 14.5% HIGHER; reported Q2 EPS of $1.15, $0.03 better than the analyst estimate of $1.12. Revenue for the quarter came in at $662.3 million versus the consensus estimate of $663.88 million. Comparable store sales increased 4.4%. Sees FY2012 EPS of $2.74 - $2.80, versus the consensus of $2.71. Also sees Q3 2012 EPS of $0.95 - $0.98, versus the consensus of $0.96.
FuelCell Energy, Inc. (Nasdaq: FCEL) 12.3% LOWER; reported Q3 EPS of ($0.06), $0.02 worse than the analyst estimate of ($0.04). Revenue for the quarter came in at $29.7 million versus the consensus estimate of $31.94 million.
Snyder's-Lance, Inc. (Nasdaq: LNCE) 12.0% HIGHER; announced plans to acquire Snack Factory, LLC and certain affiliates, for $340 million in cash. This includes approximately $60 million of net present value of future tax benefits. Snyder's-Lance, Inc. (Snyder's-Lance) expects to close the transaction early in the fourth quarter.
ImmunoCellular Therapeutics (NYSE: IMUC) 11.7% HIGHER; Maxim Group initiated coverage on with a Buy and $18 price target.
USA Technologies, Inc. (Nasdaq: USAT) 11.5% HIGHER; reported Q4 EPS of ($0.01), $0.03 better than the analyst estimate of ($0.04). Revenue for the quarter came in at $7.9 million versus the consensus estimate of $7.98 million.
VeriFone Systems (NYSE: PAY) 11.3% LOWER; reported Q3 EPS of $0.75, $0.05 better than the analyst estimate of $0.70. Revenue for the quarter came in at $493 million versus the consensus estimate of $498.34 million. Sees FY2012 EPS of $2.73 - $2.75, versus the consensus of $2.66. VeriFone Systems sees FY2012 revenue of $1.893 - $1.898 billion, versus the consensus of $1.92 billion. Also sees Q4 2012 EPS of $0.75 - $0.77, versus the consensus of $0.74 and revenue of $495 - $500 million, versus the consensus of $520.15 million. For more, click here.
MarketAxess Holdings Inc. (Nasdaq: MKTX), 11.3% LOWER; announced total monthly trading volume for August 2012 of $44.4 billion, consisting of $27.7 billion in U.S. high-grade volume, $1.6 billion in eurobond volume, and $15.2 billion in other volume.
Tangoe, Inc. (Nasdaq: TNGO) 11.3% LOWER; lower on a Copperfield Research report today.
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TNGO Fraud Alert
Richard J. Marini on Sep 9, 2012 01:00 PMMark as Spam | Reply to this comment
I'm a former employee of Tangoe, regardless of those short selling I can tell you that those allegations of Tangoe cooking the books are true. These guys are nothing more then a Ponzi scheme. They use investor money to acquire other companies and then claim their revenue then use those numbers to acquire more investor money to acquire more companies, etc... However, if you look at the numbers Tangoe has never been (except for a short stint after they acquired the company I used to work for calling billingIT/Information Strategies group as we built a open-source based distributed high volume TEM platform which Tangoe acquired which was very profitable) profitable, is not profitable and never will be profitable as their model is not profitable. It doens't matter if they acquire 100% of the market share -- even then they will not be profitable. They are merely a pump and dump. If you look the board, investors and execs have all been dumping their socks while they can still cash out. This also reeks of insider trading. They should be in prison right next to Madoff (another crook I also used to work for).