Unusual 11 Mid-Day Movers 11/3: (MPG) (IQNT) (CCRN) Higher; (TRIL) (AAC) (DPLO) Lower
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- Starbucks Coffee (SBUX) CEO Howard Schultz to Step Down, Appointed Executive Chairman; Kevin Johnson New CEO
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AAC Holdings (NYSE: AAC) 48.1% LOWER; reported Q3 EPS of $0.19, $0.04 worse than the analyst estimate of $0.23. Revenue for the quarter came in at $70.5 million versus the consensus estimate of $73.28 million.
Metaldyne Performance Group Inc. (NYSE: MPG) 41.8% HIGHER; American Axle & Manufacturing and Metaldyne Performance Group announced that the companies have entered into a definitive merger agreement under which AAM will acquire MPG for approximately $1.6 billion in cash and stock, plus the assumption of $1.7 billion in net debt.
Diplomat Pharmacy (NYSE: DPLO) 41.2% LOWER; reported Q3 EPS of $0.21, $0.03 worse than the analyst estimate of $0.24. Revenue for the quarter came in at $1.18 billion versus the consensus estimate of $1.26 billion. Diplomat Pharmacy sees FY2016 EPS of $0.83-$0.87, versus the consensus of $0.93. Diplomat Pharmacy sees FY2016 revenue of $4.4-4.6 billion, versus the consensus of $4.67 billion.
Inteliquent, Inc. (Nasdaq: IQNT) 35.2% HIGHER; entered into a definitive agreement to be acquired by an affiliate of GTCR LLC, a leading private equity firm, and merged with a subsidiary of Onvoy, LLC a fast-growing leader in Communications Enablement services. Under the terms of the agreement, Inteliquent stockholders of record will receive $23.00 in cash per share of common stock.
Achillion Pharma (Nasdaq: ACHN) 33.8% LOWER; announced side effects observed during MAD study.
Sequential Brands (Nasdaq: SQBG) 33.1% LOWER; reported Q3 EPS of $0.12, in-line with the analyst estimate of $0.12. Revenue for the quarter came in at $42 million versus the consensus estimate of $39.92 million. Sequential Brands reaffirmed FY2016 guidance.
Cross Country Healthcare (Nasdaq: CCRN) 22.9% HIGHER; reported Q3 EPS of $0.22, $0.07 better than the analyst estimate of $0.15. Revenue for the quarter came in at $215 million versus the consensus estimate of $203.09 million.
Lattice Semiconductor (Nasdaq: LSCC) 17.9% HIGHER; Lattice Semi and Canyon Bridge Capital Partners, Inc. announced that the Company and Canyon Bridge Acquisition Company, Inc. (“Parent”), an affiliate of Canyon Bridge, have signed a definitive agreement under which Parent will acquire all outstanding shares of Lattice for approximately $1.3 billion inclusive of Lattice’s net debt, or $8.30 per share in cash.
Orion Energy Systems (Nasdaq: OESX) 15.5% HIGHER; reported Q2 EPS of ($0.03), $0.06 better than the analyst estimate of ($0.09). Revenue for the quarter came in at $18.7 million versus the consensus estimate of $18.6 million.
LHC Group (Nasdaq: LHCG) 14.7% HIGHER; reported Q3 EPS of $0.54, $0.04 better than the analyst estimate of $0.50. Revenue for the quarter came in at $230 million versus the consensus estimate of $224.6 million. LHC Group sees FY2016 EPS of $2.05-$2.08, versus the consensus of $1.99.
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