Unusual 11 Mid-Day Movers 11/07: (ADPI) (FRPT) (INHX) Higher; (TESO) (CRNT) (OVTI) Lower
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American Dental Partners, Inc. (Nasdaq: ADPI) 79.0% HIGHER; entered into a definitive agreement to be acquired private equity firm JLL Partners for $19 per share, or an 83 percent premium to Friday's close . The transaction is valued at approximately $398 million, including $81 million in currently outstanding debt.
Force Protection (Nasdaq: FRPT) 30.8% HIGHER; the company and General Dynamics (NYSE: GD) have agreed to terms of an acquisition at $5.52 per share in common stock, or about $360 million.
Inhibitex (Nasdaq: INHX) 20.7% HIGHER; possibly moving as Pharmasset (Nasdaq: VRUS) reported better-than-expected results of its PSI-7977 drug for hepatitis C over the weekend.
Tesco Corp (Nasdaq: TESO) 17.0% LOWER; reported Q3 EPS of $0.10, 13 cents worse than the analyst estimate of $0.23. Revenue for the quarter came in at $127 million versus the consensus estimate of $130.23 million.
China Shen Zhou Mining & Resources (AMEX: SHZ) 16.9% HIGHER; breaking above resistance at $2 for the first time since mid-September. Volume is very heavy today.
Ceragon Networks Ltd (Nasdaq: CRNT) 16.2% LOWER; reported Q3 EPS of $0.02, 1 cent better than the analyst estimate of $0.01. Revenue for the quarter came in at $116.1 million versus the consensus estimate of $114.49 million.
Diamond Foods (Nasdaq: DMND) 15% LOWER; since announcing early last week the closing of its deal with Pringles will not be til the first half of 2012 (later than previously expected), the stock has tumbled nearly 40 percent.
OmniVision (Nasdaq: OVTI) 14.8% LOWER; announces a $100 million buyback program. Lowers its Q2 sales guidance from $255 to $275 million to a range of $212 to $217 million, which compares to the Street estimate of $259.3 million.
DHT Holdings, Inc. (NYSE: DHT) 14.0% LOWER; trading lower as Deutsche Bank downgraded DHT peer Frontline (NYSE: FRO) from Buy to Hold, lowering its price target cut from $11 to $5.
HMS Holdings Corp. (Nasdaq: HMSY) 13.4% HIGHER; today announced a definitive agreement to acquire privately held HealthDataInsights, Inc. for approximately $400 million. The transaction is not contingent upon financing and is expected to close by December 31, 2011, subject to regulatory approvals. The stock was also added to BofA/Merrill's "US 1 List" this morning.
Tekelec (Nasdaq: TKLC) 12.0% HIGHER; announced an agreement to be acquired by a consortium led by Siris Capital Group, LLC for $11 per share in cash, or an 11 percent premium to Friday's close. The total transaction is valued at approximately $780 million. Tekelec also reported Q3 EPS of $0.19, 13 cents better than the analyst estimate of $0.06. Revenue for the quarter came in at $106.2 million versus the consensus estimate of $92.56 million. Tekelec sees FY11 EPS of $0.36 to $0.43, versus the consensus of $0.41, and revenue of $395 to $410 million, versus the consensus of $398.58 million.
To get this report daily visit http://www.streetinsider.com/entities/Unusual+11+Mid-Day+Movers.
Force Protection (Nasdaq: FRPT) 30.8% HIGHER; the company and General Dynamics (NYSE: GD) have agreed to terms of an acquisition at $5.52 per share in common stock, or about $360 million.
Inhibitex (Nasdaq: INHX) 20.7% HIGHER; possibly moving as Pharmasset (Nasdaq: VRUS) reported better-than-expected results of its PSI-7977 drug for hepatitis C over the weekend.
Tesco Corp (Nasdaq: TESO) 17.0% LOWER; reported Q3 EPS of $0.10, 13 cents worse than the analyst estimate of $0.23. Revenue for the quarter came in at $127 million versus the consensus estimate of $130.23 million.
China Shen Zhou Mining & Resources (AMEX: SHZ) 16.9% HIGHER; breaking above resistance at $2 for the first time since mid-September. Volume is very heavy today.
Ceragon Networks Ltd (Nasdaq: CRNT) 16.2% LOWER; reported Q3 EPS of $0.02, 1 cent better than the analyst estimate of $0.01. Revenue for the quarter came in at $116.1 million versus the consensus estimate of $114.49 million.
Diamond Foods (Nasdaq: DMND) 15% LOWER; since announcing early last week the closing of its deal with Pringles will not be til the first half of 2012 (later than previously expected), the stock has tumbled nearly 40 percent.
OmniVision (Nasdaq: OVTI) 14.8% LOWER; announces a $100 million buyback program. Lowers its Q2 sales guidance from $255 to $275 million to a range of $212 to $217 million, which compares to the Street estimate of $259.3 million.
DHT Holdings, Inc. (NYSE: DHT) 14.0% LOWER; trading lower as Deutsche Bank downgraded DHT peer Frontline (NYSE: FRO) from Buy to Hold, lowering its price target cut from $11 to $5.
HMS Holdings Corp. (Nasdaq: HMSY) 13.4% HIGHER; today announced a definitive agreement to acquire privately held HealthDataInsights, Inc. for approximately $400 million. The transaction is not contingent upon financing and is expected to close by December 31, 2011, subject to regulatory approvals. The stock was also added to BofA/Merrill's "US 1 List" this morning.
Tekelec (Nasdaq: TKLC) 12.0% HIGHER; announced an agreement to be acquired by a consortium led by Siris Capital Group, LLC for $11 per share in cash, or an 11 percent premium to Friday's close. The total transaction is valued at approximately $780 million. Tekelec also reported Q3 EPS of $0.19, 13 cents better than the analyst estimate of $0.06. Revenue for the quarter came in at $106.2 million versus the consensus estimate of $92.56 million. Tekelec sees FY11 EPS of $0.36 to $0.43, versus the consensus of $0.41, and revenue of $395 to $410 million, versus the consensus of $398.58 million.
To get this report daily visit http://www.streetinsider.com/entities/Unusual+11+Mid-Day+Movers.
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