Unusual 11 Mid-Day Movers 10/21: TSTR, OCCF, LYTS, SCSS, CHGS, TZOO Higher; GRNB, BORN, CRUS, REE, HNI Lower
Green Bankshares, Inc. (Nasdaq: GRNB) 43.7% LOWER; reports Q3 EPS of $2.78, versus the analyst estimate of ($0.07). The stock was also downgraded at Wunderlich.
TerreStar Corp. (Nasdaq: TSTR) 28.2% HIGHER; higher today on news that their subsidiary, TerreStar Networks Inc., won court approval to borrow as much as $18 million of a $75 million loan from EchoStar (Nasdaq: SATS). EchoStar is the telecom company financing TerreStar’s bankruptcy restructuring. The news came out after the market on the 19th, and shares have been making a strong move since.
Optical Cable Corporation (Nasdaq: OCCF) 22.2% HIGHER; today announced it is initiating a quarterly cash dividend to shareholders for the first time in the Company's history. OCC's Board of Directors declared a cash dividend of $0.01 per common share, $0.04 annualized.
LSI Industries (NYSE: LYTS) 21.8% HIGHER; reports Q3 EPS of $0.18, 14 cents better than the analyst estimate of $0.04. Revenue for the quarter was $79.85 million, which compares to the estimate of $66.03 million. The Board of Directors declared a regular quarterly cash dividend of $0.05 per share, $0.20 annualized.
China New Borun Corp. (Nasdaq: BORN) 21.2% LOWER; another Chinese company that may not be living up to expectations that management set up for in their reports. Recently tagged by citronresearch.com for their "wet process" distilling technology, shares are seeing more pressure from a Seeking Alpha article titled "China New Borun: Born to Run or Destined to Fall?" Notably, from the get-go, the author notes that his checks indicated that their historical gross profits may be overstated by as much as 3x, with an EPS skewed by as much as 4x - 5x!
Cirrus Logic (NYSE: CRUS) 16.7% LOWER; Reports Q2 EPS of $0.42, inline the analyst estimate of $0.42. Revenue for the quarter was $100.6 million, which compares to the estimate of $101.28 million. Sees Q3 sales o $88-$94 million, vs. the consensus of $99.14 million.
Rare Element Resources (AMEX: REE) 16.2% LOWER; traders are taking profits today following three straight days of very sharp upside. Since the beginning of this week, shares of REE have surged more than 50% as these rare earth stocks are the latest momo trade.
HNI Corp. (NYSE: HNI) 15.4% LOWER; eports Q3 non-GAAP EPS of $0.35, versus the analyst estimate of $0.48. Revenue for the quarter was $458.9 million, which compares to the estimate of $484.75 million.
Select Comfort (NYSE: SCSS) 14.1% HIGHER; reports Q3 EPS of $0.19, 3 cents better than the analyst estimate of $0.16. Revenue for the quarter was $160.1 million, which compares to the estimate of $155.77 million. Increases FY10 from $0.45 - $0.50 to $0.52 - $0.55, compared to the consensus of $0.51. The stock was also upgraded at Piper Jaffray.
China GengSheng Minerals (Nasdaq: CHGS) 13.0% HIGHER; the so-called rare-earth trade is on once again today. Shares of CHGS surged more than 26% yesterday on extremely heavy volume.
Travelzoo (NYSE: TZOO) 12.6% HIGHER; reports Q3 EPS of $0.22, 11 cents better than the analyst estimate of $0.11. Revenue for the quarter was $27.7 million, which compares to the estimate of $26.2 million.
To get this report daily visit http://www.streetinsider.com/entities/Unusual+11+Mid-Day+Movers..
TerreStar Corp. (Nasdaq: TSTR) 28.2% HIGHER; higher today on news that their subsidiary, TerreStar Networks Inc., won court approval to borrow as much as $18 million of a $75 million loan from EchoStar (Nasdaq: SATS). EchoStar is the telecom company financing TerreStar’s bankruptcy restructuring. The news came out after the market on the 19th, and shares have been making a strong move since.
Optical Cable Corporation (Nasdaq: OCCF) 22.2% HIGHER; today announced it is initiating a quarterly cash dividend to shareholders for the first time in the Company's history. OCC's Board of Directors declared a cash dividend of $0.01 per common share, $0.04 annualized.
LSI Industries (NYSE: LYTS) 21.8% HIGHER; reports Q3 EPS of $0.18, 14 cents better than the analyst estimate of $0.04. Revenue for the quarter was $79.85 million, which compares to the estimate of $66.03 million. The Board of Directors declared a regular quarterly cash dividend of $0.05 per share, $0.20 annualized.
China New Borun Corp. (Nasdaq: BORN) 21.2% LOWER; another Chinese company that may not be living up to expectations that management set up for in their reports. Recently tagged by citronresearch.com for their "wet process" distilling technology, shares are seeing more pressure from a Seeking Alpha article titled "China New Borun: Born to Run or Destined to Fall?" Notably, from the get-go, the author notes that his checks indicated that their historical gross profits may be overstated by as much as 3x, with an EPS skewed by as much as 4x - 5x!
Cirrus Logic (NYSE: CRUS) 16.7% LOWER; Reports Q2 EPS of $0.42, inline the analyst estimate of $0.42. Revenue for the quarter was $100.6 million, which compares to the estimate of $101.28 million. Sees Q3 sales o $88-$94 million, vs. the consensus of $99.14 million.
Rare Element Resources (AMEX: REE) 16.2% LOWER; traders are taking profits today following three straight days of very sharp upside. Since the beginning of this week, shares of REE have surged more than 50% as these rare earth stocks are the latest momo trade.
HNI Corp. (NYSE: HNI) 15.4% LOWER; eports Q3 non-GAAP EPS of $0.35, versus the analyst estimate of $0.48. Revenue for the quarter was $458.9 million, which compares to the estimate of $484.75 million.
Select Comfort (NYSE: SCSS) 14.1% HIGHER; reports Q3 EPS of $0.19, 3 cents better than the analyst estimate of $0.16. Revenue for the quarter was $160.1 million, which compares to the estimate of $155.77 million. Increases FY10 from $0.45 - $0.50 to $0.52 - $0.55, compared to the consensus of $0.51. The stock was also upgraded at Piper Jaffray.
China GengSheng Minerals (Nasdaq: CHGS) 13.0% HIGHER; the so-called rare-earth trade is on once again today. Shares of CHGS surged more than 26% yesterday on extremely heavy volume.
Travelzoo (NYSE: TZOO) 12.6% HIGHER; reports Q3 EPS of $0.22, 11 cents better than the analyst estimate of $0.11. Revenue for the quarter was $27.7 million, which compares to the estimate of $26.2 million.
To get this report daily visit http://www.streetinsider.com/entities/Unusual+11+Mid-Day+Movers..
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