Unusual 11 Mid-Day Movers 09/14: (SQNS) (JAKK) (VRML) Higher; (AUTC) (SEED) (GSS) Lower
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Sequans Communications S.A. (NYSE: SQNS) 70.9% HIGHER; announced that its LTE semiconductor technology has been officially approved by China’s Ministry of Industry and Information Technology (MIIT), a government entity responsible for the regulation and development of China’s wireless industry. The approval signifies that Sequans’ technology is qualified for use in LTE networks in China.
AutoChina International Limited (Nasdaq: AUTC) 25.6% LOWER; trading lower today, continuing from Tuesday, after disclosing that on September 8, 2011 the company received a letter from the Listing Qualifications Department of The NASDAQ Stock Market LLC. The letter reported that based on the review of public documents and a plan of compliance provided by the company, shares of AUTC would be delisted from Nasdaq on September 19, 2011 unless the company appealed the determination. AUTC does plan on appealing the delisting of the Company’s securities.
JAKKS Pacific, Inc. (Nasdaq: JAKK) 23.4% HIGHER; Oaktree Capital Management, L.P., today announced that certain funds and accounts that it manages have made a proposal to acquire all outstanding shares of JAKKS common stock for $20.00 per share in cash, representing a total equity value of approximately $670 million on a fully diluted basis.
Vermillion, Inc. (Nasdaq: VRML) 22.5% HIGHER; announced that data was presented demonstrating the improvement in sensitivity when using imaging in conjunction with OVA1. "The key finding from Dr. Ueland's presentation is that OVA1, when combined with imaging, achieved 98.1% sensitivity for all types of ovarian cancers and obtained a negative predictive value (NPV) of 96.3%. Also, a rising OVA1 score correlated with an increasing risk of ovarian malignancy."
Origin Agritech Limited (Nasdaq: SEED) 17.8% LOWER; reported Q3 EPS of $0.09. Revenue for the quarter came in at $37.4 million versus the consensus estimate of $75.87 million. Based on its current outlook, and existing and anticipated business conditions, Origin lowers the revenue guidance for FY 2011 in the range of RMB 530 million to RMB 550 million.
Gleacher & Company, Inc. (Nasdaq: GLCH) 17.0% HIGHER; announced the commencement of a modified “Dutch auction” tender offer to purchase up to 10 million shares, or up to 7.84 percent, of its outstanding common stock at a price of not less than $1.30 and not more than $1.55 per share. The tender offer will expire at 5:00 p.m., New York City time, on November 2, 2011, unless extended.
OXiGENE (Nasdaq: OXGN) 16.8% HIGHER; co. presents data confirming survival benefit of ZYBRESTAT in patients with anaplastic thyroid cancer. Click here to see the full report.
Coldwater Creek (Nasdaq: CWTR) 14.8% HIGHER; late yesterday the company disclosed purchases of 481,714 shares by the Chairman Dennis Pence. The insider's buys ranged from $1.33 to $1.40.
Golden Star Resources Ltd. (AMEX: GSS) 10.4% LOWER; announced a revision to its third quarter 2011 production guidance. At Bogoso, third quarter gold production is expected to be approximately 39,000 ounces, versus previous guidance of 43,000 ounces. The shortfall is a result of lower than anticipated milled grade and three shifts lost to crusher refurbishment. Production in the third quarter is expected to be approximately 35,000 ounces versus prior guidance of 40,000 ounces. The shortfall is related to lower than expected mill throughput due to lower mill availability and ore blending issues.
Majesco Entertainment Company (Nasdaq: COOL) 9.0% LOWER; reported Q3 EPS of $0.03, 5 cents better than the analyst estimate of ($0.02). Revenue for the quarter came in at $19.5 million versus the consensus estimate of $17.5 million. Sees FY2011 EPS of $0.35 to $0.38, versus prior guidance of $0.30 to $0.35 and the consensus of $0.37. Sees FY2011 revenue of $120 to $130 million, versus prior guidance of $110 to $120 million and the consensus of $125.65 million.
Ralcorp Holdings, Inc. (NYSE: RAH) 8.1% LOWER; ConAgra Foods (NYSE: CAG) today reiterated its $94 per share, all-cash proposal to acquire Ralcorp. ConAgra also said it will withdraw its offer for Ralcorp unless official talks begin by Sept. 19th.
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AutoChina International Limited (Nasdaq: AUTC) 25.6% LOWER; trading lower today, continuing from Tuesday, after disclosing that on September 8, 2011 the company received a letter from the Listing Qualifications Department of The NASDAQ Stock Market LLC. The letter reported that based on the review of public documents and a plan of compliance provided by the company, shares of AUTC would be delisted from Nasdaq on September 19, 2011 unless the company appealed the determination. AUTC does plan on appealing the delisting of the Company’s securities.
JAKKS Pacific, Inc. (Nasdaq: JAKK) 23.4% HIGHER; Oaktree Capital Management, L.P., today announced that certain funds and accounts that it manages have made a proposal to acquire all outstanding shares of JAKKS common stock for $20.00 per share in cash, representing a total equity value of approximately $670 million on a fully diluted basis.
Vermillion, Inc. (Nasdaq: VRML) 22.5% HIGHER; announced that data was presented demonstrating the improvement in sensitivity when using imaging in conjunction with OVA1. "The key finding from Dr. Ueland's presentation is that OVA1, when combined with imaging, achieved 98.1% sensitivity for all types of ovarian cancers and obtained a negative predictive value (NPV) of 96.3%. Also, a rising OVA1 score correlated with an increasing risk of ovarian malignancy."
Origin Agritech Limited (Nasdaq: SEED) 17.8% LOWER; reported Q3 EPS of $0.09. Revenue for the quarter came in at $37.4 million versus the consensus estimate of $75.87 million. Based on its current outlook, and existing and anticipated business conditions, Origin lowers the revenue guidance for FY 2011 in the range of RMB 530 million to RMB 550 million.
Gleacher & Company, Inc. (Nasdaq: GLCH) 17.0% HIGHER; announced the commencement of a modified “Dutch auction” tender offer to purchase up to 10 million shares, or up to 7.84 percent, of its outstanding common stock at a price of not less than $1.30 and not more than $1.55 per share. The tender offer will expire at 5:00 p.m., New York City time, on November 2, 2011, unless extended.
OXiGENE (Nasdaq: OXGN) 16.8% HIGHER; co. presents data confirming survival benefit of ZYBRESTAT in patients with anaplastic thyroid cancer. Click here to see the full report.
Coldwater Creek (Nasdaq: CWTR) 14.8% HIGHER; late yesterday the company disclosed purchases of 481,714 shares by the Chairman Dennis Pence. The insider's buys ranged from $1.33 to $1.40.
Golden Star Resources Ltd. (AMEX: GSS) 10.4% LOWER; announced a revision to its third quarter 2011 production guidance. At Bogoso, third quarter gold production is expected to be approximately 39,000 ounces, versus previous guidance of 43,000 ounces. The shortfall is a result of lower than anticipated milled grade and three shifts lost to crusher refurbishment. Production in the third quarter is expected to be approximately 35,000 ounces versus prior guidance of 40,000 ounces. The shortfall is related to lower than expected mill throughput due to lower mill availability and ore blending issues.
Majesco Entertainment Company (Nasdaq: COOL) 9.0% LOWER; reported Q3 EPS of $0.03, 5 cents better than the analyst estimate of ($0.02). Revenue for the quarter came in at $19.5 million versus the consensus estimate of $17.5 million. Sees FY2011 EPS of $0.35 to $0.38, versus prior guidance of $0.30 to $0.35 and the consensus of $0.37. Sees FY2011 revenue of $120 to $130 million, versus prior guidance of $110 to $120 million and the consensus of $125.65 million.
Ralcorp Holdings, Inc. (NYSE: RAH) 8.1% LOWER; ConAgra Foods (NYSE: CAG) today reiterated its $94 per share, all-cash proposal to acquire Ralcorp. ConAgra also said it will withdraw its offer for Ralcorp unless official talks begin by Sept. 19th.
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