Unusual 11 Mid-Day Movers 12/16: (ISTA) (RRR) (MRT) (GRO) Higher; (INHX) (KNSY) (CVC) (MELA) Lower
Up)
ISTA Pharmaceuticals Inc. (Nasdaq: ISTA) 74.6% HIGHER; Valeant Pharmaceuticals International, Inc. (NYSE: VRX) today announced that it had made a proposal to the Board of Directors of ISTA to acquire ISTA for $6.50 per share in cash.
RSC Holdings, Inc. (NYSE: RRR) 55.5% HIGHER; United Rentals, Inc. (NYSE: URI) and RSC have entered into a definitive merger agreement under which United Rentals will acquire RSC in a cash-and-stock transaction valued at $18.00 per share.
Morton's Restaurant Group, Inc. (NYSE: MRT) 32.6% HIGHER; Tilman J. Fertitta announced today that his wholly-owned company, Fertitta's Morton's Restaurants, Inc. and is wholly owned subsidiary Fertitta Morton's Acquisition, Inc. have signed an Agreement to acquire 100% of Morton's for $6.90 a share.
Agria (NYSE: GRO) 25.5% HIGHER; reports sales increased to $158.8 million during the first six months of 2011. Net income was $4 million. The company reported sales of $3.3 million and a net loss of $16.3 million during the same period last year
Inhibitex (Nasdaq: INHX) 20.9% LOWER; down following news Pharmasset (Nasdaq: VRUS) has amended its QUANTUM trial.
Kensey Nash (Nasdaq: KNSY) 20.8% LOWER; management reported its has agreed with St. Jude Medical (NYSE: STJ) to enter into non-binding mediation in an attempt to resolve disputes over royalty payments to Kensey Nash relating to the Angio-Seal vascular closure device, as well as other related claims. Kensey Nash has repeatedly advised St. Jude that the royalties are currently to be paid, and should since 2007 have been paid, at a rate of 8% rather than the 6% rate at which St. Jude had been paying. Click here to read the full report.
Deer Consumer Products (Nasdaq: DEER) 18.5% HIGHER; management today announced the company remains on schedule to pay a quarterly cash dividend of $0.05 per share and reaffirmed its 2011 financial guidance. Click here for the full report.
magicJack (Nasdaq: CALL) 16.9% HIGHER; the company reported that its has cancelled its anticipated underwritten offering and has sold over 365,000 magicJack PLUS devices in the last 30 days. Management offered fourth quarter sales guidance of $55 to $60 million.
Cablevision Systems Corp. (NYSE: CVC) 14.4% LOWER; today announced that Tom Rutledge, chief operating officer, has informed the company that he will resign. BofA downgraded the stock from Buy to Underperform this morning. Miller Tabak also downgraded shares.
Research In Motion Ltd (NASDAQ: RIMM) 12.1% LOWER; reported Q3 EPS of $1.27, $0.08 better than the analyst estimate of $1.19. Revenue for the quarter came in at $5.2 billion versus the consensus estimate of $5.27 billion. Sees Q4 sales $4.6-$4.9 billion and EPS of 80-95 cents. The Street is currently looking for quarterly sales of $5.12 billion and EPS of $1.18. The stock was downgraded at BMO, Atlantic Equities and Brigantine so far today.
MELA Sciences, Inc. (Nasdaq: MELA) 11.6% LOWER; has priced an underwritten public offering of 5,000,000 shares of its common stock at a price of $3.25 per share.
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RSC Holdings, Inc. (NYSE: RRR) 55.5% HIGHER; United Rentals, Inc. (NYSE: URI) and RSC have entered into a definitive merger agreement under which United Rentals will acquire RSC in a cash-and-stock transaction valued at $18.00 per share.
Morton's Restaurant Group, Inc. (NYSE: MRT) 32.6% HIGHER; Tilman J. Fertitta announced today that his wholly-owned company, Fertitta's Morton's Restaurants, Inc. and is wholly owned subsidiary Fertitta Morton's Acquisition, Inc. have signed an Agreement to acquire 100% of Morton's for $6.90 a share.
Agria (NYSE: GRO) 25.5% HIGHER; reports sales increased to $158.8 million during the first six months of 2011. Net income was $4 million. The company reported sales of $3.3 million and a net loss of $16.3 million during the same period last year
Inhibitex (Nasdaq: INHX) 20.9% LOWER; down following news Pharmasset (Nasdaq: VRUS) has amended its QUANTUM trial.
Kensey Nash (Nasdaq: KNSY) 20.8% LOWER; management reported its has agreed with St. Jude Medical (NYSE: STJ) to enter into non-binding mediation in an attempt to resolve disputes over royalty payments to Kensey Nash relating to the Angio-Seal vascular closure device, as well as other related claims. Kensey Nash has repeatedly advised St. Jude that the royalties are currently to be paid, and should since 2007 have been paid, at a rate of 8% rather than the 6% rate at which St. Jude had been paying. Click here to read the full report.
Deer Consumer Products (Nasdaq: DEER) 18.5% HIGHER; management today announced the company remains on schedule to pay a quarterly cash dividend of $0.05 per share and reaffirmed its 2011 financial guidance. Click here for the full report.
magicJack (Nasdaq: CALL) 16.9% HIGHER; the company reported that its has cancelled its anticipated underwritten offering and has sold over 365,000 magicJack PLUS devices in the last 30 days. Management offered fourth quarter sales guidance of $55 to $60 million.
Cablevision Systems Corp. (NYSE: CVC) 14.4% LOWER; today announced that Tom Rutledge, chief operating officer, has informed the company that he will resign. BofA downgraded the stock from Buy to Underperform this morning. Miller Tabak also downgraded shares.
Research In Motion Ltd (NASDAQ: RIMM) 12.1% LOWER; reported Q3 EPS of $1.27, $0.08 better than the analyst estimate of $1.19. Revenue for the quarter came in at $5.2 billion versus the consensus estimate of $5.27 billion. Sees Q4 sales $4.6-$4.9 billion and EPS of 80-95 cents. The Street is currently looking for quarterly sales of $5.12 billion and EPS of $1.18. The stock was downgraded at BMO, Atlantic Equities and Brigantine so far today.
MELA Sciences, Inc. (Nasdaq: MELA) 11.6% LOWER; has priced an underwritten public offering of 5,000,000 shares of its common stock at a price of $3.25 per share.
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