Unusual 11 Mid-Day Movers 10/12: (HTGM) (VOXX) (CXW) Higher; (ERIC) (BSPM) (IEC) Lower

October 12, 2016 12:51 PM EDT
Get Alerts HTGM Hot Sheet
Trade HTGM Now!
Join SI Premium – FREE

Get instant alerts when news breaks on your stocks. Claim your 2-week free trial to StreetInsider Premium here.

HTG Molecular Diagnostics, Inc. (Nasdaq: HTGM) 45.1% HIGHER; HTG and Merck KGaA, Darmstadt, Germany, have entered a broad companion diagnostics master agreement. The initial development program agreement utilizes the HTG EdgeSeq DLBCL Cell of Origin Assay in the Merck KGaA, Darmstadt, Germany, M7583, selective and irreversible inhibitor of Burton’s Tyrosine Kinase (BTK), program.

VOXX Int'l (Nasdaq: VOXX) 32.4% HIGHER; reported Q2 EPS of $0.12, $0.13 better than the analyst estimate of ($0.01). Revenue for the quarter came in at $159.3 million versus the consensus estimate of $161 million.

Ericsson (Nasdaq: ERIC) 20.2% LOWER; announced that the business result for the third quarter 2016 will be significantly lower than company expectations. The negative industry trends from the first half of 2016 have further accelerated, impacting Q3, 2016 numbers primarily in Segment Networks. The sales decline was mainly driven by markets with weak macro-economic environment such as Brazil, Russia and the Middle East, impacting both coverage and capacity sales in those markets. In addition, capacity sales in Europe were lower following completion of mobile broadband projects in 2015.

Biostar Pharmaceuticals, Inc. (Nasdaq: BSPM) 17.7% LOWER; announced that it entered into a securities purchase agreement (the "Securities Purchase Agreement") with certain institutional investors for the sale of 425,000 shares of common stock in a registered direct offering at the price of $4.50 per share. In addition, warrants to purchase 212,500 shares of common stock in the aggregate will be issued to the investors. The warrants will be exercisable six months and one day from the date of the closing of the offering at an exercise price of $5.55 per share and expire 3 1/2 years from the date of issuance.

IEC Electronics Corp. (NYSE: IEC) 19.0% LOWER; confirmed a workforce reduction of approximately 73 full time employees at its Newark, NY facility.

MGT Capital Investments (NYSE: MGT) 14.4% LOWER; paring back following a 40 percent run higher on Tuesday.

Fortinet (Nasdaq: FTNT) 11.9% LOWER; announced preliminary financial results for the third quarter ended September 30, 2016. Fortinet expects to report total revenue for the third quarter of 2016 in the range of $311 million to $316 million compared to our previously announced guidance of $319 million to $324 million. Non-GAAP diluted net income1 per share is expected to be $0.15 to $0.16 compared to previously announced guidance of $0.17 to $0.18. (The Street sees Q3 revenue of $322.4 million and EPS of $0.18.)

Corrections Corporation of America (NYSE: CXW) 8.9% HIGHER; SunTrust Robinson Humphrey upgraded Corrections Corp. from Neutral to Buy with a price target of $20.

Barracuda Networks (NYSE: CUDA) 8.6% HIGHER; reported Q2 EPS of $0.21, $0.08 better than the analyst estimate of $0.13. Revenue for the quarter came in at $87.9 million versus the consensus estimate of $85.27 million.

Aeterna Zentaris Inc. (Nasdaq: AEZS) 8.4% HIGHER; Aeterna Zentaris and Specialised Therapeutics Asia announced the signing of an exclusive license agreement for the Company’s lead investigational anti-cancer compound, Zoptrex (zoptarelin doxorubicin), for the territories of Australia and New Zealand.

Blackhawk Network (Nasdaq: HAWK) 7.1% HIGHER; reported Q3 EPS of $0.14, versus $0.17 reported last year. Revenue for the quarter came in at $361.6 million, versus $352.7 million reported last year. Blackhawk Network sees FY2016 EPS of $1.45-$1.64, versus the consensus of $1.57. Blackhawk Network sees FY2016 revenue of $897-926 million, versus the consensus of $936.15 million.

To get this report daily visit http://www.streetinsider.com/entities/Unusual+11+Mid-Day+Movers.

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In

Related Categories

Special Reports

Related Entities

SunTrust Robinson Humphrey, Unusual 11 Mid-Day Movers, Layoffs, Earnings

Add Your Comment