Unusual 11 Mid-Day Movers 10/16: (NOOF) (INVE) (PRXI) Higher; (OSG) (RATE) (ISIS) Lower
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New Frontier Media, Inc. (Nasdaq: NOOF) 53.85% HIGHER; announced that the Company has signed a definitive agreement to be acquired by LFP Broadcasting, LLC, an affiliate of L.F.P., Inc., the company founded and headed up by Larry Flynt, for $2.02 per common share in cash up front, or approximately $33 million, plus a contingent cash payment right for each common share.
Identive Group, Inc. (Nasdaq: INVE) 29.5% HIGHER; announced a new smart card reader for Apple (Nasdaq: AAPL) mobile devices that allows iPad®, iPhone® and iMac® users to authenticate themselves to secure networks, websites and payment systems using their smart chip-based IDs or credit cards. The initial version of the reader is targeted at the U.S. government and worldwide enterprise markets.
Overseas Shipholding Group, Inc. (NYSE: OSG) 23.8% LOWER; slipping below $5 support level.
Bankrate, Inc. (NYSE: RATE) 23.7% LOWER; sees total revenue for the third quarter of $115.5 million and $117.5 million and adjusted EPS of $0.11 - $0.13, versus views calling for revs of $132.7 million and EPS of $0.20.
Isis Pharmaceuticals, Inc. (Nasdaq: ISIS) 17.3% LOWER; the FDA said it will review cancer risk for Kynamro. The FDA asked an advisory panel on Oct 18th to discuss "imbalance" in tumors seen in studies of Kynamro. Kynamro was also tied to increased cancers in rat studies.
Premier Exhibitions, Inc. (Nasdaq: PRXI) 16.5% HIGHER; reported Q2 EPS of $0.06, versus ($0.04) reported last year. Revenue for the quarter came in at $13.4 million, versus $8.2 million reported last year.
Clearwire (Nasdaq: CLWR) 13.0% LOWER; slammed as an acquisition by Sprint (NYSE: S) now looks farther off than anticipated. For more, click here.
OCZ Technology Group, Inc. (Nasdaq: OCZ) 11.5% LOWER; announced that it was unable to file its Form 10-Q for the second quarter of fiscal year 2013 (Q2'13), which ended on August 31, 2012, on time as the Company's financial statements are still under review. The Company continues to work diligently to complete the financial review. While we are hopeful that the review will be completed in the near future, we cannot currently estimate the exact date. Thus we are also unable to estimate the filing date of the Form 10-Q.
Radiant Logistics (NYSE: RLGT) 11.1% HIGHER; Sterne Agee started coverage at Buy and $3.50 price target.
AU Optronics (NYSE: AUO) 9.2% HIGHER; CLSA upgraded shares two-notches from Sell to Buy.
Murphy Oil Corporation (NYSE: MUR) 8.9% HIGHER; announced that its Board of Directors has approved a plan to spin off to its stockholders its U.S. downstream subsidiary, Murphy Oil USA, Inc., into an independent and separately traded company, and has also authorized a special dividend of $2.50 per share for a total dividend of approximately $500 million and a share buyback program of up to $1 billion of the company’s shares of common stock.
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Identive Group, Inc. (Nasdaq: INVE) 29.5% HIGHER; announced a new smart card reader for Apple (Nasdaq: AAPL) mobile devices that allows iPad®, iPhone® and iMac® users to authenticate themselves to secure networks, websites and payment systems using their smart chip-based IDs or credit cards. The initial version of the reader is targeted at the U.S. government and worldwide enterprise markets.
Overseas Shipholding Group, Inc. (NYSE: OSG) 23.8% LOWER; slipping below $5 support level.
Bankrate, Inc. (NYSE: RATE) 23.7% LOWER; sees total revenue for the third quarter of $115.5 million and $117.5 million and adjusted EPS of $0.11 - $0.13, versus views calling for revs of $132.7 million and EPS of $0.20.
Isis Pharmaceuticals, Inc. (Nasdaq: ISIS) 17.3% LOWER; the FDA said it will review cancer risk for Kynamro. The FDA asked an advisory panel on Oct 18th to discuss "imbalance" in tumors seen in studies of Kynamro. Kynamro was also tied to increased cancers in rat studies.
Premier Exhibitions, Inc. (Nasdaq: PRXI) 16.5% HIGHER; reported Q2 EPS of $0.06, versus ($0.04) reported last year. Revenue for the quarter came in at $13.4 million, versus $8.2 million reported last year.
Clearwire (Nasdaq: CLWR) 13.0% LOWER; slammed as an acquisition by Sprint (NYSE: S) now looks farther off than anticipated. For more, click here.
OCZ Technology Group, Inc. (Nasdaq: OCZ) 11.5% LOWER; announced that it was unable to file its Form 10-Q for the second quarter of fiscal year 2013 (Q2'13), which ended on August 31, 2012, on time as the Company's financial statements are still under review. The Company continues to work diligently to complete the financial review. While we are hopeful that the review will be completed in the near future, we cannot currently estimate the exact date. Thus we are also unable to estimate the filing date of the Form 10-Q.
Radiant Logistics (NYSE: RLGT) 11.1% HIGHER; Sterne Agee started coverage at Buy and $3.50 price target.
AU Optronics (NYSE: AUO) 9.2% HIGHER; CLSA upgraded shares two-notches from Sell to Buy.
Murphy Oil Corporation (NYSE: MUR) 8.9% HIGHER; announced that its Board of Directors has approved a plan to spin off to its stockholders its U.S. downstream subsidiary, Murphy Oil USA, Inc., into an independent and separately traded company, and has also authorized a special dividend of $2.50 per share for a total dividend of approximately $500 million and a share buyback program of up to $1 billion of the company’s shares of common stock.
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