Unusual 11 Mid-Day Movers 10/11: (BSPM) (NYMX) (PSG) Higher; (RCII) (ILMN) (TPIC) Lower
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Rent-A-Center, Inc. (Nasdaq: RCII) 29.5% LOWER; pre-released selected preliminary unaudited financial information for the quarter ended September 30, 2016. Diluted earnings per share for the third quarter 2016 on both a GAAP basis and excluding special items are expected to be between $0.05 and $0.15. The Street was looking for EPS of $0.39.
Illumina, Inc. (Nasdaq: ILMN) 24.9% LOWER; announced estimated third quarter revenue of approximately $607 million, a 10% increase compared to $550 million in the third quarter of 2015. This unaudited estimate, based on management's preliminary financial analysis, is lower than the third quarter revenue guidance of $625 million to $630 million. (The Street was looking for Q3 revenue of $628.1 million.)
Nymox Pharmaceutical Corporation (Nasdaq: NYMX) 21.9% HIGHER; announced successful new study results from the long-term repeated injection group from the U.S. Phase 3 trials for fexapotide, the Company's lead compound in late stage development for enlarged prostate (BPH) and for localized prostate cancer. The aim of the study was to determine the safety and clinical benefit fexapotide can provide to men who were given a second injection of fexapotide for their prostate enlargement (BPH).
Performance Sports Group (NYSE: PSG) 15.9% HIGHER; Brookfield Asset Management is said to weigh takeover of Performance Sports Group, according to Bloomberg. Brookfield has accumulated a 13.2 percent stake in the company.
Nova LifeStyle, Inc. (Nasdaq: NVFY) 19.6% HIGHER; announced it has signed a $15 million annual product framework agreement to supply U.S. made mattresses and other products to a leading Hong Kong and Malaysia-based professional training institute - The Future Biz School.
TPI Composites, Inc., (TPI) (Nasdaq: TPIC) 15.5% LOWER; announced that it has extended two supply agreements with General Electric International (“GE”) in Newton, Iowa and Juarez, Mexico through 2020. TPI also entered into a new agreement with GE for the supply of incremental wind blades from its third party manufacturing facility under construction in Juarez, Mexico through 2020, expecting to begin production in the first quarter of 2017.
Luxfer Group (NYSE: LXFR) 15.5% LOWER; provided updated guidance for its third quarter ended September 30, 2016. Luxfer Chief Executive Brian Purves commented: “Demand has softened in a number of our markets, and defense in particular is below our prior view. As a result of the softening, there is near-term downside, particularly to sales of our magnesium products, and this will affect the Company’s results. We currently expect Q3 Adjusted EPS to be approximately 12 cents below the results for Q1 and Q2 this year. We must assume that the current weakness in defense-related markets will persist at least until the end of 2016, and we have temporarily closed one magnesium powder facility and laid off employees at another of our magnesium business units.”
Vericel (Nasdaq: VCEL) 12.6% LOWER; On October 10, 2016 Vericel Corporation (the “Company”) entered into a Sales Agreement (the “Sales Agreement”) with Cowen and Company, LLC, which will act as sales agent (the “Cowen”) to sell, from time to time, the Company’s common stock, no par value per share (“ATM Shares”), having an aggregate sale price up to $25,000,000, through an “at the market offering” program (the “ATM Offering”). The ATM Shares will be issued pursuant to the Company’s shelf registration statement on Form S-3 (File No. 333-205336). The Company filed a prospectus supplement, dated October 10, 2016, with the Securities and Exchange Commission in connection with the offer and sale of the ATM Shares being sold pursuant to this ATM Offering.
Momenta Pharmaceuticals (Nasdaq: MNTA) 12.3% HIGHER; Barclays upgraded Momenta Pharmaceuticals from Equalweight to Overweight with a price target of $19.00 (from $13.00).
Lifeway Foods, Inc. (Nasdaq: LWAY) 9.0% HIGHER; said to receive a recommendation from Louis Navellier.
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