Unusual 11 Mid-Day Movers 12/17: FUN, WGO, WNI, SNSS, MPG Higher; EFJI, GEOY, NANO, ANDS Lower
Up)
Cedar Fair, L.P. (NYSE: FUN) 23.5% HIGHER; announced it agreed to enter into a definitive merger agreement to be acquired by an affiliate of Apollo Global Management, a leading global alternative asset manager, for $11.50 per share in cash.
Winnebago (NYSE: WGO) 22.1% HIGHER; reports Q1 loss of $0.05, cents better than the analyst estimate of ($0.07). Revenue for the quarter was $81 million, which compares to the estimate of $108.22 million.
EF Johnson Technologies, Inc. (NASDAQ: EFJI) 20.2% LOWER; announced today that the Company would not make its previously announced goal of achieving operating profitability for fiscal year 2009.
Schiff Nutrition International Inc. (NYSE: WNI) 19.7% HIGHER; reports Q2 EPS of $0.20, 11 cents better than the analyst estimate of $0.09. Revenue for the quarter was $53.8 million, which compares to the estimate of $48.30 million.
Sunesis Pharma (Nasdaq: SNSS) 17.9% HIGHER; since announcing on December 10 that its Leukemia drug, voreloxin, returned positive results in a Phase 2 trial, the stock has been insanely volatile. Shares surged more than 170%, then fell 36% on Tuesday and Wednesday of this week, and are likely correcting again today.
Maguire Properties, Inc. (NYSE: MPG) 17.5% HIGHER; announced today that it has completed the sale of the Lantana Media Entertainment Campus in Santa Monica, California to an affiliate of Lionstone Group. Additionally, the Company sold an office property on the Campus to NARAS Properties, Inc., an affiliate of The Recording Academy and internationally recognized for the GRAMMY'S. These two transactions eliminated in full $176 million of obligations under two loans which were scheduled to mature in January and June 2010 and generated approximately $19 million in net proceeds after repayment of the loans.
GeoEye’s (NASDAQ: GEOY) 16.8% LOWER; engineers detected an irregularity in the equipment GeoEye-1 uses to point the antenna that transmits imagery to receiving stations on the ground. The satellite remains fully capable of conducting tasking, imaging, and down-linking operations. There are no issues with the camera or camera electronics. This issue is isolated to the equipment that points the downlink antenna. Click here for the full report.
ORBCOMM Inc. (NASDAQ: ORBC) 16.6% HIGHER; announced that ORBCOMM Inc. and its satellite insurers settled any and all claims relating to the Coast Guard Demonstration satellite and five quick launch satellites. The settlement is in the amount of $44,250,000, which equates to 88.5% of the maximum claim of $50,000,000 from third party insurers. ORBCOMM retains ownership of the two quick launch satellites still operating.
Nanometrics Incorporated (Nasdaq: NANO) 12.7% LOWER; today announced that it intends to offer shares of common stock in an underwritten public offering. Vincent Coates, the Company's founder, also intends to offer shares of common stock in the offering.
Anadys Pharmaceuticals, Inc. (NASDAQ: ANDS) 12.6% LOWER; today announced preliminary results from a planned interim analysis of data at four weeks for the first dose cohort, 200 mg bid, in an ongoing Phase II study of ANA598 in combination with pegylated interferon and ribavirin in HCV patients. 56% of patients receiving ANA598 plus SOC achieved undetectable levels of virus (<15 IU/ml) at week 4, known as Rapid Virological Response or RVR, compared to 20% of patients receiving placebo plus SOC.
LDK Solar (NYSE: LDK) 12.2% LOWER; under pressure today on a few news items, which all seem to be addressing liquidity issues for the solar company. The company disclosed: an offering of 18.9 million shares, "going concern" language in a 6-K this morning (not sure if this is new, but trader are talking about it), and an agreement to sell minority stake in its polysilicon production plants. VMS Investment Group Ltd. and its affiliates, or the "Investors," pursuant to which the Investors have agreed to subscribe between $50 million to $80 million aggregate amount of redeemable and convertible preference shares of the Cayman Islands subsidiary, which is to be created to hold and operate LDK Solar's polysilicon business, valuing the entity at $1.30 billion to $1.65 billion.
To get this report daily, visit http://www.streetinsider.com/entities/Morning+Movers.
Winnebago (NYSE: WGO) 22.1% HIGHER; reports Q1 loss of $0.05, cents better than the analyst estimate of ($0.07). Revenue for the quarter was $81 million, which compares to the estimate of $108.22 million.
EF Johnson Technologies, Inc. (NASDAQ: EFJI) 20.2% LOWER; announced today that the Company would not make its previously announced goal of achieving operating profitability for fiscal year 2009.
Schiff Nutrition International Inc. (NYSE: WNI) 19.7% HIGHER; reports Q2 EPS of $0.20, 11 cents better than the analyst estimate of $0.09. Revenue for the quarter was $53.8 million, which compares to the estimate of $48.30 million.
Sunesis Pharma (Nasdaq: SNSS) 17.9% HIGHER; since announcing on December 10 that its Leukemia drug, voreloxin, returned positive results in a Phase 2 trial, the stock has been insanely volatile. Shares surged more than 170%, then fell 36% on Tuesday and Wednesday of this week, and are likely correcting again today.
Maguire Properties, Inc. (NYSE: MPG) 17.5% HIGHER; announced today that it has completed the sale of the Lantana Media Entertainment Campus in Santa Monica, California to an affiliate of Lionstone Group. Additionally, the Company sold an office property on the Campus to NARAS Properties, Inc., an affiliate of The Recording Academy and internationally recognized for the GRAMMY'S. These two transactions eliminated in full $176 million of obligations under two loans which were scheduled to mature in January and June 2010 and generated approximately $19 million in net proceeds after repayment of the loans.
GeoEye’s (NASDAQ: GEOY) 16.8% LOWER; engineers detected an irregularity in the equipment GeoEye-1 uses to point the antenna that transmits imagery to receiving stations on the ground. The satellite remains fully capable of conducting tasking, imaging, and down-linking operations. There are no issues with the camera or camera electronics. This issue is isolated to the equipment that points the downlink antenna. Click here for the full report.
ORBCOMM Inc. (NASDAQ: ORBC) 16.6% HIGHER; announced that ORBCOMM Inc. and its satellite insurers settled any and all claims relating to the Coast Guard Demonstration satellite and five quick launch satellites. The settlement is in the amount of $44,250,000, which equates to 88.5% of the maximum claim of $50,000,000 from third party insurers. ORBCOMM retains ownership of the two quick launch satellites still operating.
Nanometrics Incorporated (Nasdaq: NANO) 12.7% LOWER; today announced that it intends to offer shares of common stock in an underwritten public offering. Vincent Coates, the Company's founder, also intends to offer shares of common stock in the offering.
Anadys Pharmaceuticals, Inc. (NASDAQ: ANDS) 12.6% LOWER; today announced preliminary results from a planned interim analysis of data at four weeks for the first dose cohort, 200 mg bid, in an ongoing Phase II study of ANA598 in combination with pegylated interferon and ribavirin in HCV patients. 56% of patients receiving ANA598 plus SOC achieved undetectable levels of virus (<15 IU/ml) at week 4, known as Rapid Virological Response or RVR, compared to 20% of patients receiving placebo plus SOC.
LDK Solar (NYSE: LDK) 12.2% LOWER; under pressure today on a few news items, which all seem to be addressing liquidity issues for the solar company. The company disclosed: an offering of 18.9 million shares, "going concern" language in a 6-K this morning (not sure if this is new, but trader are talking about it), and an agreement to sell minority stake in its polysilicon production plants. VMS Investment Group Ltd. and its affiliates, or the "Investors," pursuant to which the Investors have agreed to subscribe between $50 million to $80 million aggregate amount of redeemable and convertible preference shares of the Cayman Islands subsidiary, which is to be created to hold and operate LDK Solar's polysilicon business, valuing the entity at $1.30 billion to $1.65 billion.
To get this report daily, visit http://www.streetinsider.com/entities/Morning+Movers.
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