Unusual 11 Mid-Day Movers 3/12: BRNC, CVTX, SEH, MW Higher; MTG, PDII, NP, STLD Lower
MGIC Investment Corp. (NYSE: MTG) 38% LOWER; Fitch has placed MGIC's credit ratings on Rating Watch Negative, citing the company's recent decision to defer interest payments on its $390 million convertible junior subordinated debentures due 2063.
Bronco Drilling (Nasdaq: BRNC) 28.2% HIGHER; following a 10% run-up on better-than-expected Q4 earnings yesterday, shares are continuing higher today on heavy volume.
PDI, Inc. (Nasdaq: PDII) 27.9% LOWER; reports Q4 EPS of $1.20 may not compare to the analyst estimate of ($0.70). Revenues for the quarter were $25.4 million, versus the consensus of $24.77 million.
CV Therapeutics, Inc. (Nasdaq: CVTX) 27.7% HIGHER; Gilead Sciences, Inc. (Nasdaq: GILD) and CV Therapeutics announced the signing of a definitive agreement pursuant to which Gilead will acquire CV Therapeutics for $20.00 per share in cash through a tender offer and second step merger. MORE
Neenah Paper, Inc. (NYSE: NP) 26% LOWER; reports Q4 adj-loss of $0.62, versus the analyst estimate of ($0.07). Revenues for the quarter were $147 million, versus the consensus of $164 million.
Spartech (NYSE: SEH) 25% HIGHER; shares are rebounding today following an 18% drop yesterday on news that the company is suspending its dividend.
Men's Wearhouse (NYSE: MW) 21.9% HIGHER; reports Q4 loss of $0.06, 10 cents better than the analyst estimate of ($0.16). Revenues for the quarter were $476.4 million, versus the consensus of $490.25 million. Sees Q1 results breakeven to a mid-single digit loss and a first half GAAP EPS of $0.45-$0.65.
Steel Dynamics, Inc. (Nasdaq: STLD) 20% LOWER; lowers its Q1 EPS guidance from a gain of $0.05-$0.10 to a loss of $0.40-$0.45, versus the consensus of $0.10. Click here for the full report.
Smithfield Foods (NYSE: SFD) 20.5% HIGHER; reports a Q3 loss of $0.15 per share, better than the consensus of a $0.27 loss. Revenues came in at $3.35 billion, versus the consensus of $3.41 billion. Click here for the full report.
Danaos (NYSE: DAC) 19.9% LOWER; reports Q4 EPS of $0.44, in-line with the analyst estimate of $0.44. Revenues for the quarter were $78.7 million, versus the consensus of $78.44 million.
LMI Aerospace (Nasdaq: LMIA) 12.8% HIGHER; reports Q4 EPS of $0.21, 4 cents lower than the analyst estimate of $0.25. Revenues for the quarter were $52.2 million, versus the consensus of $51.67 million. Sees FY09 sales of $260-$274 million, versus the consensus of $265.87 million.
To get this report daily visit http://www.streetinsider.com/entities/Unusual+11+Mid-Day+Movers.
Create E-mail AlertRelated Categories
Special ReportsStocks Mentioned
+0.00Related Entities
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
