Unusual 11 Mid-Day Movers 11/17: SMTL, PARD, AGO, ZOOM, HEAT Higher; KFS, INOC, FTK, TBUS Lower
Kingsway Financial Services, Inc. (NYSE: KFS) 39% LOWER; The Pennsylvania Insurance Department will take legal action against Kingsway and its wholly-owned subsidiary Kingsway America, Inc. to unwind certain transactions and ensure that Kingsway retains its legal obligations as the ultimate controlling entity of Lincoln General Insurance Company.
Innotrac Corporation (NASDAQ: INOC) 32% LOWER; reports Q3 loss of $0.01, compared to $0.07 in the same quarter last year. Revenue for the quarter was $22.26 million, versus $32.00 million in Q308.
Semitool, Inc. (Nasdaq: SMTL) 30.4% HIGHER; Applied Materials, Inc. (Nasdaq: AMAT) and SMTL today announced a definitive agreement for Applied to acquire the outstanding shares of Semitool for $11 per share in an all-cash tender offer. Under terms of an agreement approved by the boards of directors of both companies, Applied Materials will pay an aggregate purchase price of approximately $364 million based on the fully diluted capitalization of Semitool.
Flotek Industries Inc. (NYSE: FTK) 28.1% LOWER; reports Q3 loss of $1.18, versus the analyst estimate of ($0.14). Revenue for the quarter was $23.8 million, which compares to the estimate of $34.36 million.
DRI Corporation (NASDAQ: TBUS) 25.6% LOWER; reports Q3 EPS of $0.08, versus the analyst estimate of $0.11. Revenue for the quarter was $21.61 million, which compares to the estimate of $22.87 million.
Pacific Sunwear of California, Inc. (NASDAQ: PSUN) 25% LOWER; reports Q3 loss of $0.17, 3 cents better than the analyst estimate of ($0.20). Revenue for the quarter was $268 million, which compares to the estimate of $260.08 million. SSS down 18%. Loss Q4 loss of $0.28-$0.35, versus the consensus of a $0.11 loss.
Poniard Pharma (Nasdaq: PARD) 23.5% HIGHER; correcting today following a 76% drop yesterday on news that its SPEAR phase III trial of Picoplatin did not meet its survival endpoint. We have downgrades from Rodman & Renshaw and Wedbush this morning.
Assured Guaranty (NYSE: AGO) 22.5% HIGHER; reports Q3 loss of $0.22, versus the analyst estimate of $0.31.
ZOOM Technologies Inc. (Nasdaq: ZOOM) 18.4% HIGHER; reports Q3 EPS of $0.73 and revenue for the quarter was $55.3 million. Sees FY sales of $185-$195 million.
SmartHeat Inc. (NASDAQ: HEAT) 18.3% HIGHER; continuing higher following yesterday's Q3 results. The stock rose 19% yesterday.
China MediaExpress Holdings, Inc. (Amex: TMI) 17.4% HIGHER; reports Q3 EPS of $1,166.40., compared to $636.30. in the same quarter last year. Revenue for the quarter was $26.1 million, versus $15.8 million in Q308.
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