Unusual 11 Mid-Day Movers 10/25: ATEA, GIW, CASB, CTV, ZHNE, SOHU Higher; SVNT, EONC, WL, AGO, TBSI
ATEA Hot Sheet
EPS Growth %: +100.0%
Astea International Inc. (Nasdaq: ATEA) 78.4% HIGHER; announced that their Alliance solution has been selected by a leading telecom network solutions provider to automate, mobilize and optimize their global field service operations.
The Wilber Corporation (AMEX: GIW) 50.3% HIGHER; Community Bank System, Inc. (NYSE: CBU) and Wilber announced that they have entered into an agreement whereby Community Bank will acquire The Wilber Corporation for $101.8 million in Community Bank System stock and cash, or $9.50 per share. The transaction is expected to close in early 2011.
Savient Pharmaceuticals Inc. (Nasdaq: SVNT) 43.4% LOWER; amid rumors of the sort, the company confirmed that there is now no merger expected, but their Board continues to evaluate alternatives available to the company.
Cascade Financial Corporation (Nasdaq: CASB) 37.8% HIGHER; continuing higher following a late-Friday move as the company confirmed (on Thursday night) that they have completed several balance sheet restructuring transactions which will immediately put the Company and the Bank in an improved financial position including increased capital ratios and increased net interest margin. Shares rose more than 21% on Friday.
CommScope, Inc. (NYSE: CTV) 29.8% HIGHER; confirmed that it is in discussions with The Carlyle Group regarding a potential 'taking private' transaction at $31.50 per share in cash. Click here for the full report.
Zhone Technologies Inc. (Nasdaq: ZHNE) 22.4% HIGHER; a positive article on Seeking Alpha over the weekend entitled "Zhone's Shares Look Set to Triple," which made an argument for positive sentiment on the conference call following the company's third quarter earnings which came out late last week. The author notes a shift in the company's balance sheet and operating model profile, pent-up demand for products, and the beginning for funding from the U.S. Broadband Stimulus Plan.
eOn Communications Corp. (Nasdaq: EONC) 21.5% LOWER; correcting today following an 84% surge on Friday amid a very sharp move higher after 1pm ET. Volume is very heavy today as traders are taking profits.
Sohu.com (Nasdaq: SOHU) 14.6% HIGHER; reports Q3 EPS of $1.16, versus the analyst estimate of $0.90. Revenue for the quarter was $164.1 million, which compares to the estimate of $156.75 million. Sees Q410 revs of $163 - $168 million and a non-GAAP EPS of $1.10 - $1.15, compared to consensus revs of $162.58 million and an EPS of $0.94.
Wilmington Trust Corp. (NYSE: WL) 12.2% LOWER; also correcting today following a surge last week on rumors of a takeover. Shares jumped over 25% last last week on news that WL may be searching for buyout interest from large banks in Canada.
Assured Guaranty Ltd. (NYSE: AGO) 12.1% LOWER; shares are lower today following an earlier credit rating downgrade from AAA to AA+ at S&P.
TBS International (Nasdaq: TBSI) 11.3% LOWER; the stock can not catch a break recently. since October 11, shares have only closed in positive territory once, falling more than 30% over this period. Shares have not been below the $4 level since late 2008.
To get this report daily visit http://www.streetinsider.com/entities/Unusual+11+Mid-Day+Movers..
The Wilber Corporation (AMEX: GIW) 50.3% HIGHER; Community Bank System, Inc. (NYSE: CBU) and Wilber announced that they have entered into an agreement whereby Community Bank will acquire The Wilber Corporation for $101.8 million in Community Bank System stock and cash, or $9.50 per share. The transaction is expected to close in early 2011.
Savient Pharmaceuticals Inc. (Nasdaq: SVNT) 43.4% LOWER; amid rumors of the sort, the company confirmed that there is now no merger expected, but their Board continues to evaluate alternatives available to the company.
Cascade Financial Corporation (Nasdaq: CASB) 37.8% HIGHER; continuing higher following a late-Friday move as the company confirmed (on Thursday night) that they have completed several balance sheet restructuring transactions which will immediately put the Company and the Bank in an improved financial position including increased capital ratios and increased net interest margin. Shares rose more than 21% on Friday.
CommScope, Inc. (NYSE: CTV) 29.8% HIGHER; confirmed that it is in discussions with The Carlyle Group regarding a potential 'taking private' transaction at $31.50 per share in cash. Click here for the full report.
Zhone Technologies Inc. (Nasdaq: ZHNE) 22.4% HIGHER; a positive article on Seeking Alpha over the weekend entitled "Zhone's Shares Look Set to Triple," which made an argument for positive sentiment on the conference call following the company's third quarter earnings which came out late last week. The author notes a shift in the company's balance sheet and operating model profile, pent-up demand for products, and the beginning for funding from the U.S. Broadband Stimulus Plan.
eOn Communications Corp. (Nasdaq: EONC) 21.5% LOWER; correcting today following an 84% surge on Friday amid a very sharp move higher after 1pm ET. Volume is very heavy today as traders are taking profits.
Sohu.com (Nasdaq: SOHU) 14.6% HIGHER; reports Q3 EPS of $1.16, versus the analyst estimate of $0.90. Revenue for the quarter was $164.1 million, which compares to the estimate of $156.75 million. Sees Q410 revs of $163 - $168 million and a non-GAAP EPS of $1.10 - $1.15, compared to consensus revs of $162.58 million and an EPS of $0.94.
Wilmington Trust Corp. (NYSE: WL) 12.2% LOWER; also correcting today following a surge last week on rumors of a takeover. Shares jumped over 25% last last week on news that WL may be searching for buyout interest from large banks in Canada.
Assured Guaranty Ltd. (NYSE: AGO) 12.1% LOWER; shares are lower today following an earlier credit rating downgrade from AAA to AA+ at S&P.
TBS International (Nasdaq: TBSI) 11.3% LOWER; the stock can not catch a break recently. since October 11, shares have only closed in positive territory once, falling more than 30% over this period. Shares have not been below the $4 level since late 2008.
To get this report daily visit http://www.streetinsider.com/entities/Unusual+11+Mid-Day+Movers..
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