Unusual 11 Mid-Day Movers 12/08: RWC, QDHC, EONC, TLB Higher; PIP, ADAT, EFUT, IPSU Lower
RWC Hot Sheet
Revenue Growth %: -34.9%
RELM Wireless Corporation (NYSE: RWC) 76.5% HIGHER; today announced that it has been named as a contractor under a contract issued by the U.S. IRS. The contract is for the procurement of P25 digital two-way radios and related equipment by a broad range of federal government agencies such as the departments of Justice, Treasury, Commerce, Education, Transportation, Veterans' Affairs, and numerous others. The maximum total value of the contract is $750 million and spans up to five years commencing on November 30, 2009.
PharmAthene, Inc. (AMEX: PIP) 51.5% LOWER; announced today that the Department of Health and Human Services Biomedical Research and Development Authority has canceled its request for proposal for Recombinant Protective Antigen Anthrax Vaccine for the Strategic National Stockpile (RFP BARDA 08-15). Click here for more details.
QuadraMed Corporation (NASDAQ: QDHC) 30% HIGHER; announced that it has entered into a definitive merger agreement to be acquired by Francisco Partners. Under the terms of the agreement Francisco Partners has agreed to acquire all of the outstanding shares of QuadraMed's common stock for $8.50 per share in cash and all of the outstanding shares of QuadraMed's Series A Cumulative Mandatory Convertible Preferred Stock for $13.7097 per share in cash. The per-share consideration to the Series A Preferred Stock represents the common-equivalent consideration for such Series A Preferred Stock based on its current conversion ratio. The all-cash transaction is valued at approximately $126 million.
eOn Communications (Nasdaq: EONC) 25.7% HIGHER; not hearing any company-specific news that would justify today's sharp move higher. Notably, volume in the stock is already about 2x heavier than normal.
Talbots (NYSE: TLB) 22.1% HIGHER; reports Q3 adjusted EPS of $0.31, versus the analyst estimate of $0.14. Revenue for the quarter was $308.9 million, which compares to the estimate of $318.53 million. Sees Q409 Loss of $0.06 - $0.14.
The McClatchy Company (NYSE: MNI) 22% HIGHER; management noted today that it expects a continuation of the improving advertising revenue trends that began in the third quarter of 2009. Advertising revenues in the fourth quarter are expected to be down in the low- to mid-20s percent range compared to down 28.1% in the third quarter and 30.2% in the second quarter.
Hoku Scientific (NASDAQ: HOKU) 19.2% HIGHER; Hoku Materials, a wholly owned subsidiary of Hoku, and Solarfun Power Hong Kong Limited, or Solarfun, a subsidiary of Solarfun Power Holdings Co., Ltd. (NASDAQ: SOLF), entered into a Second Amended and Restated Supply Agreement, or the Supply Agreement, pursuant to which they have agreed to sell to Solarfun, and Solarfun has agreed to purchase from them, specified quantities of polysilicon over a ten-year period. Click here to see full details on the news.
Authentidate Holding Corp. (Nasdaq: ADAT) 17.9% LOWER; has entered into definitive agreements with institutional investors for a direct placement of $3,400,000 of common stock at a price of $1.00 per share. In connection with the issuance of common stock, Authentidate will also issue to the investors warrants to purchase an additional 3,400,000 shares of common stock in the aggregate with an exercise price of $1.00 per share. The warrants will expire 90 days following the closing date of the transaction and are immediately exercisable.
eFuture Information Technology Inc. (Nasdaq: EFUT) 15.5% LOWER; reports a Q3 loss of $1.24, compared to a gain of $2.41 in the same quarter last year. Revenue for the quarter was $25.21 million, versus $27.36 million in Q308.
Imperial Sugar Co. (NASDAQ: IPSU) 12.5% LOWER; reports Q4 loss of $0.02, versus the analyst estimate of $0.14. Revenue for the quarter was $147.3 million, which compares to the estimate of $162.86 million.
The Kroger Co. (NYSE: KR) 10.7% LOWER; reports Q3 EPS of $0.27 ex-items, versus the analyst estimate of $0.37. Revenue for the quarter was $17.7 billion, which compares to the estimate of $17.69 billion. Comps up 1.3% ex-fuel. Kroger also said it now expects full-year fiscal 2009 earnings of $1.60 to $1.70 per diluted share. This guidance excludes the southern California impairment charges recorded in the third quarter.(Consensus is $1.94) Click here for more color.
To get this report daily visit http://www.streetinsider.com/entities/Unusual+11+Mid-Day+Movers.
PharmAthene, Inc. (AMEX: PIP) 51.5% LOWER; announced today that the Department of Health and Human Services Biomedical Research and Development Authority has canceled its request for proposal for Recombinant Protective Antigen Anthrax Vaccine for the Strategic National Stockpile (RFP BARDA 08-15). Click here for more details.
QuadraMed Corporation (NASDAQ: QDHC) 30% HIGHER; announced that it has entered into a definitive merger agreement to be acquired by Francisco Partners. Under the terms of the agreement Francisco Partners has agreed to acquire all of the outstanding shares of QuadraMed's common stock for $8.50 per share in cash and all of the outstanding shares of QuadraMed's Series A Cumulative Mandatory Convertible Preferred Stock for $13.7097 per share in cash. The per-share consideration to the Series A Preferred Stock represents the common-equivalent consideration for such Series A Preferred Stock based on its current conversion ratio. The all-cash transaction is valued at approximately $126 million.
eOn Communications (Nasdaq: EONC) 25.7% HIGHER; not hearing any company-specific news that would justify today's sharp move higher. Notably, volume in the stock is already about 2x heavier than normal.
Talbots (NYSE: TLB) 22.1% HIGHER; reports Q3 adjusted EPS of $0.31, versus the analyst estimate of $0.14. Revenue for the quarter was $308.9 million, which compares to the estimate of $318.53 million. Sees Q409 Loss of $0.06 - $0.14.
The McClatchy Company (NYSE: MNI) 22% HIGHER; management noted today that it expects a continuation of the improving advertising revenue trends that began in the third quarter of 2009. Advertising revenues in the fourth quarter are expected to be down in the low- to mid-20s percent range compared to down 28.1% in the third quarter and 30.2% in the second quarter.
Hoku Scientific (NASDAQ: HOKU) 19.2% HIGHER; Hoku Materials, a wholly owned subsidiary of Hoku, and Solarfun Power Hong Kong Limited, or Solarfun, a subsidiary of Solarfun Power Holdings Co., Ltd. (NASDAQ: SOLF), entered into a Second Amended and Restated Supply Agreement, or the Supply Agreement, pursuant to which they have agreed to sell to Solarfun, and Solarfun has agreed to purchase from them, specified quantities of polysilicon over a ten-year period. Click here to see full details on the news.
Authentidate Holding Corp. (Nasdaq: ADAT) 17.9% LOWER; has entered into definitive agreements with institutional investors for a direct placement of $3,400,000 of common stock at a price of $1.00 per share. In connection with the issuance of common stock, Authentidate will also issue to the investors warrants to purchase an additional 3,400,000 shares of common stock in the aggregate with an exercise price of $1.00 per share. The warrants will expire 90 days following the closing date of the transaction and are immediately exercisable.
eFuture Information Technology Inc. (Nasdaq: EFUT) 15.5% LOWER; reports a Q3 loss of $1.24, compared to a gain of $2.41 in the same quarter last year. Revenue for the quarter was $25.21 million, versus $27.36 million in Q308.
Imperial Sugar Co. (NASDAQ: IPSU) 12.5% LOWER; reports Q4 loss of $0.02, versus the analyst estimate of $0.14. Revenue for the quarter was $147.3 million, which compares to the estimate of $162.86 million.
The Kroger Co. (NYSE: KR) 10.7% LOWER; reports Q3 EPS of $0.27 ex-items, versus the analyst estimate of $0.37. Revenue for the quarter was $17.7 billion, which compares to the estimate of $17.69 billion. Comps up 1.3% ex-fuel. Kroger also said it now expects full-year fiscal 2009 earnings of $1.60 to $1.70 per diluted share. This guidance excludes the southern California impairment charges recorded in the third quarter.(Consensus is $1.94) Click here for more color.
To get this report daily visit http://www.streetinsider.com/entities/Unusual+11+Mid-Day+Movers.
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