Unusual 11 Mid-Day Movers 1/04: NPTE, SEED, NG Higher; CBLI, ACAT, MCRL, GPN Lower
Cleveland BioLabs, Inc. (Nasdaq: CBLI) 60.6% LOWER; was informed by the Department of Defense that Protectan CBLB502, the Company's candidate for the treatment of gastrointestinal effects of acute radiation syndrome, was not selected for award.
North Pointe Holdings Corporation (Nasdaq: NPTE) 45.8% HIGHER; signed a definitive merger agreement to be acquired by QBE Holdings, Inc, a subsidiary of QBE Insurance Group Ltd., in a cash transaction valued at approximately $146 million or $16 per share. North Pointe Holdings closed at $10.58 today.
Origin Agritech (Nasdaq: SEED) 27.4% HIGHER; appears to be getting squeezed today. As of December 11, about 30% of SEED's float was being shorted, a 12% increase from November.
Arctic Cat Inc. (Nasdaq: ACAT) 23.7% LOWER; lowers Q3 and full-year outlook due to lower than anticipated sales of all-terrain vehicles. Arctic Cat sees Q3 sales of $155 million to $160 million, versus its earlier forecast of $170 million to $180 million. The company sees a Q3 loss of $0.55 to $0.60, versus prior guidance of $0.30-$0.37 loss. The consensus is $175 million and a loss of $0.32. Arctic Cat sees 2008 sales of $645 million to $665 million, versus prior guidance $710 million to $736 million. Sees 2008 EPS of $0.01-$0.07, versus prior guidance of $0.89 to $0.95. The consensus is $703 million and $0.71.
Micrel Inc. (Nasdaq: MCRL) 18.3% LOWER; now expects to report Q4 revenues of $64 million, versus its previous guidance (given on October 25) of $66.5 to $67.8 million. EPS are expected to be in the range of $0.10 to $0.11, compared to prior guidance of about $0.13.
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Global Payments (NYSE: GPN) 14.2% LOWER; reported strong Q4 earnings last night, but was downgraded by Credit Suisse this morning from Neutral to Underperform. During the conference call, management seemed less bullish and investors were concerned with the one-time charges that were included in the Q4 earnings.
NovaGold Resources (AMEX: NG) 13.4% HIGHER; today marks the third day in a row that NovaGold has been notably up. On Wednesday, shares of NovaGold were up more than 8% and yesterday the stock rose by 17%.
AZZ Incorporated (NYSE: AZZ) 11% HIGHER; reported Q3 EPS of $0.66, above the consensus of $0.53. Revenues came in at $86.6 million, versus the consensus of $78 million. AZZ sees 2008 EPS of $2.12-$2.22, versus the consensus of $2.12. Sees FY08 revenues of $315-$325 million, versus the consensus of $321 million.
Osiris Therapeutics (Nasdaq: OSIR) 10.7% HIGHER; won a contract with the U.S. Department of Defense (DoD) totaling $224.7 million, including purchase options. According to the contract, Osiris will be developing and stockpiling Prochymal, an adult stem cell therapy, for the repair of gastrointestinal injury resulting from radiation exposure.
Landec Corporation (Nasdaq: LNDC) 9% LOWER; reported Q2 EPS of $0.12, in-line with the analyst estimate of $0.12. Revenues for the quarter were $59 million, versus the consensus of $61.39 million.
IHOP Inc. (NYSE: IHP) 9% HIGHER; is jumping in mid-day trading, much like yesterday. In December, about 16% of IHOP's float was shorted, so today's movement could possibly be the result of short sellers covering.
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