Unusual 11 Mid-Day Movers 12/05: (MMR) (MBLX) (UEPS) Higher; (CHTP) (MFRM) (ANIK) Lower

December 5, 2012 1:23 PM EST Send to a Friend
McMoRan Exploration Co. (NYSE: MMR) 82.2% HIGHER; to be acquired by Freeport-McMoRan (NYSE: FCX) for $2.1 billion.

Chelsea Therapeutics International, Ltd. (Nasdaq: CHTP) 35.8% LOWER;said that beyond week 1, dizziness/lightheadedness and standing blood pressure predominantly favored Northera-treated patients, but results were not statistically significant in a Phase III trial.

Metabolix, Inc. (Nasdaq: MBLX) 28.1% HIGHER; disclosed a few insider trades after markets closed Tuesday. Click here for more.

Net 1 UEPS Technologies Inc. (Nasdaq: UEPS) 28.1% HIGHER; tied allegations f FCPA violations to a company called AllPay Consolidated Investment Holdings which instituted legal proceeding in the South African courts to set aside the contract awarded to UEPS in January 2012 by SASSA. AllPay was an unsuccessful bidder for the SASSA contract.

Mitek Systems (Nasdaq: MITK) 27.5% HIGHER; entered a partnership with U.S. Bank (NYSE: USB) to offer Mitek’s Mobile Photo Bill Pay product to U.S. Bank customers.

Plains Exploration & Production Company (NYSE: PXP) 25.2% HIGHER; Freeport-McMoRan to acquire for $6.9 billion cash.

Mattress Firm (Nasdaq: MFRM) 21.0% LOWER; reported Q3 EPS of $0.47, $0.01 better than the analyst estimate of $0.46. Revenue for the quarter came in at $277.3 million versus the consensus estimate of $271.32 million. Comps up 6.6 percent. Sees FY2012 EPS of $1.49-1.52, versus prior guidance of $1.67-1.73 and the consensus of $1.70. Mattress Firm sees FY2012 revenue of $1.010-1.015 billion, versus prior guidance of $1.022-1.039 billion and the consensus of $1.02 billion.

Anika Therapeutics, Inc. (Nasdaq: ANIK) 20.2% LOWER; announced today that it has received correspondence from the Chief Scientific Officer of the Center for Devices and Radiological Health of the U.S. FDA upholding the non-approvable decision for the Monovisc PMA that was previously disclosed. The company had utilized the FDA’s appeal process to continue to discuss the Monovisc PMA with the FDA.

TIBCO Software, Inc. (Nasdaq: TIBX) 19.4% LOWER; sees Q4 EPS of 37 cents to 38 cents and revs of $292 million to $295 million. The Street sees EPS of 44 cents and revs of $315.95 million.

Pandora Media (NYSE: P) 17.6% LOWER; reported Q3 EPS of $0.05, $0.04 better than the analyst estimate of $0.01. Revenue for the quarter came in at $120 million versus the consensus estimate of $117.16 million. Sees Q4 2013 EPS of ($0.06)-($0.09), versus the consensus of $0.02. Pandora Media sees Q4 2013 revenue of $120-$123 million, versus the consensus of $130.3 million. Also sees FY2013 EPS of ($0.09)-($0.12), versus the consensus of ($0.06). Pandora Media sees FY2013 revenue of $422-$425 million, versus the consensus of $429.15 million.

Cobalt International Energy, Inc. (NYSE: CIE) 16.6% HIGHER; announced a significant oil discovery at its North Platte prospect on Garden Banks Block 959 in the deepwater Gulf of Mexico. Based on extensive wireline evaluation, the discovery well encountered several hundred feet of net oil pay in multiple Inboard Lower Tertiary sands.

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