Unusual 11 Mid-Day Movers 12/22: (RAM) (WCAA) (AIQ) Higher; (ALSK) (AM) (VVUS) Lower
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RAM Energy Resources, Inc. (Nasdaq: RAM) 77.3% HIGHER; has reached agreement with Halcon Resources, LLC, a newly-formed company led by Floyd C. Wilson, former Chairman and Chief Executive Officer of Petrohawk Energy Corporation (NYSE: HK), for a transformational capital investment in RAM. The investment is comprised of $275 million in new common stock, a $275 million five-year convertible note, and warrants for the purchase of an additional 110 million shares of common stock. The company also announced it regained NASDAQ compliance.
WCA Waste Corporation (Nasdaq: WCAA) 30.5% HIGHER; has entered into an agreement and plan of merger with Macquarie Infrastructure Partners II. Under the terms of the agreement, MIP II will acquire all of the outstanding common stock of WCA for $6.50 per share in cash, redeem all Series A preferred stock and either partially or completely refinance WCA's existing credit facilities.
Alaska Communications Systems (NASDAQ: ALSK) 25.3% LOWER; slashed its quarterly dividend by about 75 percent from $0.215 to $0.05 per share.
American Greetings Corp. (NYSE: AM) 23.5% LOWER; reported Q3 EPS of $0.50, vs. the analyst estimate of $0.81. Revenue for the quarter came in at $463.6 million versus the consensus estimate of $439.43 million. The company reported EPS of $0.78 during the same quarter last year. Cuts FY12 cash flow from operating activities guidance, ex capex, in the range of $90-$110 million.
Deer Consumer Products (Nasdaq: DEER) 20% HIGHER; upside in the stock has accelerated as the stock pushed above the 200-day SMA and the $4.50 level. The move higher follows an 11 percent decline on Monday and a 7 percent decline on Tuesday. On Tuesday, the company claimed it had been the target of threat by Alfred Little. Click here to read the full report.
Alliance Healthcare (NYSE: AIQ) 19.8% HIGHER; reaffirms its FY11 sales outlook of $475-$495 million. Sees FY12 sales $470-$500 million, which compares to the Street estimate of $505.94 million. Sees adj-EBITDA of $140-$160 million.
Mead Johnson (NYSE: MJN) 19.8% LOWER; took another leg lower over the last hour of trade as the AP is reporting regulators in Missouri have disclosed a second baby may now be sick related to the company's formula.
PHH Corp. (NYSE: PHH) 17.8% LOWER; S&P downgraded ratings to BB-; outlook Negative.
Akamai Technologies (NASDAQ: AKAM) 17.5% HIGHER; following news of a $268 million bid for Contendo, traders are speculating that Akamai could eventually become a target itself. A Click here to read a Collins Stewart note from earlier which highlights the story.
Micron Technology, Inc. (NASDAQ: MU) 16.9% HIGHER; reported Q1 EPS of ($0.19), $0.12 worse than the analyst estimate of ($0.07). Revenue for the quarter came in at $2.1 billion versus the consensus estimate of $2.14 billion.
VIVUS, Inc. (Nasdaq: VVUS) 15.7% LOWER; today announced topline preliminary results from its retrospective study of medical claims data on oral clefts (OC) associated with topiramate exposure in utero. Click here to see the full report. The stock was downgraded at Roth and Leerink this morning. Jefferies maintained a negative view.
WCA Waste Corporation (Nasdaq: WCAA) 30.5% HIGHER; has entered into an agreement and plan of merger with Macquarie Infrastructure Partners II. Under the terms of the agreement, MIP II will acquire all of the outstanding common stock of WCA for $6.50 per share in cash, redeem all Series A preferred stock and either partially or completely refinance WCA's existing credit facilities.
Alaska Communications Systems (NASDAQ: ALSK) 25.3% LOWER; slashed its quarterly dividend by about 75 percent from $0.215 to $0.05 per share.
American Greetings Corp. (NYSE: AM) 23.5% LOWER; reported Q3 EPS of $0.50, vs. the analyst estimate of $0.81. Revenue for the quarter came in at $463.6 million versus the consensus estimate of $439.43 million. The company reported EPS of $0.78 during the same quarter last year. Cuts FY12 cash flow from operating activities guidance, ex capex, in the range of $90-$110 million.
Deer Consumer Products (Nasdaq: DEER) 20% HIGHER; upside in the stock has accelerated as the stock pushed above the 200-day SMA and the $4.50 level. The move higher follows an 11 percent decline on Monday and a 7 percent decline on Tuesday. On Tuesday, the company claimed it had been the target of threat by Alfred Little. Click here to read the full report.
Alliance Healthcare (NYSE: AIQ) 19.8% HIGHER; reaffirms its FY11 sales outlook of $475-$495 million. Sees FY12 sales $470-$500 million, which compares to the Street estimate of $505.94 million. Sees adj-EBITDA of $140-$160 million.
Mead Johnson (NYSE: MJN) 19.8% LOWER; took another leg lower over the last hour of trade as the AP is reporting regulators in Missouri have disclosed a second baby may now be sick related to the company's formula.
PHH Corp. (NYSE: PHH) 17.8% LOWER; S&P downgraded ratings to BB-; outlook Negative.
Akamai Technologies (NASDAQ: AKAM) 17.5% HIGHER; following news of a $268 million bid for Contendo, traders are speculating that Akamai could eventually become a target itself. A Click here to read a Collins Stewart note from earlier which highlights the story.
Micron Technology, Inc. (NASDAQ: MU) 16.9% HIGHER; reported Q1 EPS of ($0.19), $0.12 worse than the analyst estimate of ($0.07). Revenue for the quarter came in at $2.1 billion versus the consensus estimate of $2.14 billion.
VIVUS, Inc. (Nasdaq: VVUS) 15.7% LOWER; today announced topline preliminary results from its retrospective study of medical claims data on oral clefts (OC) associated with topiramate exposure in utero. Click here to see the full report. The stock was downgraded at Roth and Leerink this morning. Jefferies maintained a negative view.
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