Unusual 11 Mid-Day Movers 3/17: HMNA, OPMR, ABII, MDCO, CPF Higher; FUQI, FTBK, WRLS, VIVO Lower
Helios & Matheson North America Inc (NASDAQ: HMNA) 170.7% HIGHER; just before the close yesterday, HMNA received a notice of non-compliance from the Nasdaq related to the requirement of a minimum market value of publicly held shares of $1,000,000. Shares have surged solidly over the $2 level today amid very heavy volume.
Optimal Group Inc. (NASDAQ: OPMR) 46.3% HIGHER; today announced that it has entered into a support agreement with a corporation established by Richard Yanofsky, President of WowWee Canada Inc., and Peter Yanofsky, President of WowWee USA, Inc., for the purpose of making an offer to acquire, by way of a take-over bid to Optimal Group shareholders, all of the outstanding Class "A" shares of the Company, including shares issuable upon the conversion, exchange or exercise of options and warrants, at a price of US$2.40 per share in cash.
Fuqi International (Nasdaq: FUQI) 36.3% LOWER; lowered its Q4 sales guidance from $182-$191 million to $175-$180 million, which compares to the Street estimate of $187.55 million. Fuqi's EPS estimate is also lowered from $0.55-$0.60 to $0.24-$0.28. The Street is currently looking for quarterly EPS of $0.58. Also said that it will delay the filing of its Form 10-K. The stock was also downgraded at Oppenheimer, Roth Capital and Merriman Curhan Ford.
Frontier Financial Corporation (NASDAQ: FTBK) 34.2% LOWER; today announced revised results for the quarter and year ended December 31, 2009. For the three months and year ended December 31, 2009, the Corporation reported revised net losses of $70.2 million, or ($14.89) per diluted share, and $295.1 million, or ($62.61) per diluted share, respectively. In our press release dated January 29, 2010, we originally reported a net loss of $33.9 million, or ($7.19) per diluted share, for the quarter ended December 31, 2009, and a net loss of $258.8 million, or ($54.91) per diluted share for the year ended December 31, 2009. The revised results for the quarter and year ended December 31, 2009, reflect an additional $30.0 million to the provision for loan losses, an additional $3.5 million valuation adjustment on other real estate owned and a $4.3 million (pre-tax) other-than-temporary impairment loss on available for sale securities.
Abraxis BioScience, Inc. (NASDAQ: ABII) 28.8% HIGHER; today announced that its randomized registrational Phase 3 clinical trial comparing ABRAXANE® (protein-bound paclitaxel) with Taxol® (paclitaxel) injection, both in combination with carboplatin, met the study’s primary endpoint by demonstrating that ABRAXANE showed a significant improvement in overall response rate as compared to Taxol, in the first-line treatment of patients with advanced non-small cell lung cancer, as assessed by independent radiologist review.
Telular Corporation (NASDAQ: WRLS) 26.8% LOWER; today announced an update to quarterly Telguard unit sales guidance. The Company now expects to sell between 24,000 and 28,000 Telguard units for the current quarter ended March 31, 2010, and 12,000 to 20,000 Telguard units per quarter for the third and fourth fiscal quarters of 2010. This is a decrease from a previous estimate of 30,000 to 40,000 units per quarter for the remainder of fiscal 2010 as previously reported. Despite the adjustment, Telular expects fiscal 2010 net income and net income before non-cash items to grow over fiscal 2009 net income and net income before non-cash items of $1.9 million and $4.7 million, respectively, as the companys solid base of recurring service revenue continues to grow. Net income before non-cash items is a non-GAAP measure which adds back depreciation, amortization and stock-based compensation expense to net income. Click here to see the full report.
The Medicines Company (NASDAQ: MDCO) 20.6% HIGHER; announced today that it is voluntarily expanding the recall of Cleviprex (clevidipine butyrate) injectable emulsion due to the potential presence of visible particulate matter which has been observed in some vials
Central Pacific Financial Corp. (NYSE: CPF) 18.4% HIGHER; announced today the appointment of John Dean as Executive Chairman of the Board of Central Pacific Financial Corp. and Central Pacific Bank, acting subject to regulatory approval. The company also announced that its Board has formed a Recovery Committee.
GreenHunter Energy, Inc. (Amex: GRH) 18.4% HIGHER; announced today that the Imperial County, California Board of Supervisors unanimously approved at a public hearing held yesterday, one or more series of tax-exempt obligations by the California Enterprise Development Authority in an aggregate principal amount not to exceed $20 million for the Company's wholly-owned subsidiary, GreenHunter Mesquite Lake, LLC.
Meridian Bioscience, Inc. (NASDAQ: VIVO) 15.6% LOWER; today announced that it is revising downward its previous sales and earnings guidance for the fiscal year ending September 30, 2010. This action is being taken as a result of weaker than expected operating results for the second quarter ending March 31, 2010, based on preliminary results to date. Separately, Meridian announced that it will file a 510(k) for FDA marketing clearance next week in connection with its illumigene™ C. difficile product. Click here to see the full report.
Molecular Insight Pharmaceuticals, Inc. (NASDAQ: MIPI) 15.3% LOWER; reports a Q4 loss of $0.52, which compares to the analyst estimate of a loss of $0.77 and versus a loss of $0.63 in the same quarter last year. Based on the Company's current projections of cash flow, unless it is able to raise sufficient additional capital, the Company will be in breach of the minimum liquidity requirements under the Indenture governing the Company's Senior Secured Bonds in the second half of 2010. Click here for the full report.
To get this report daily visit http://www.streetinsider.com/entities/Unusual+11+Mid-Day+Movers.
Optimal Group Inc. (NASDAQ: OPMR) 46.3% HIGHER; today announced that it has entered into a support agreement with a corporation established by Richard Yanofsky, President of WowWee Canada Inc., and Peter Yanofsky, President of WowWee USA, Inc., for the purpose of making an offer to acquire, by way of a take-over bid to Optimal Group shareholders, all of the outstanding Class "A" shares of the Company, including shares issuable upon the conversion, exchange or exercise of options and warrants, at a price of US$2.40 per share in cash.
Fuqi International (Nasdaq: FUQI) 36.3% LOWER; lowered its Q4 sales guidance from $182-$191 million to $175-$180 million, which compares to the Street estimate of $187.55 million. Fuqi's EPS estimate is also lowered from $0.55-$0.60 to $0.24-$0.28. The Street is currently looking for quarterly EPS of $0.58. Also said that it will delay the filing of its Form 10-K. The stock was also downgraded at Oppenheimer, Roth Capital and Merriman Curhan Ford.
Frontier Financial Corporation (NASDAQ: FTBK) 34.2% LOWER; today announced revised results for the quarter and year ended December 31, 2009. For the three months and year ended December 31, 2009, the Corporation reported revised net losses of $70.2 million, or ($14.89) per diluted share, and $295.1 million, or ($62.61) per diluted share, respectively. In our press release dated January 29, 2010, we originally reported a net loss of $33.9 million, or ($7.19) per diluted share, for the quarter ended December 31, 2009, and a net loss of $258.8 million, or ($54.91) per diluted share for the year ended December 31, 2009. The revised results for the quarter and year ended December 31, 2009, reflect an additional $30.0 million to the provision for loan losses, an additional $3.5 million valuation adjustment on other real estate owned and a $4.3 million (pre-tax) other-than-temporary impairment loss on available for sale securities.
Abraxis BioScience, Inc. (NASDAQ: ABII) 28.8% HIGHER; today announced that its randomized registrational Phase 3 clinical trial comparing ABRAXANE® (protein-bound paclitaxel) with Taxol® (paclitaxel) injection, both in combination with carboplatin, met the study’s primary endpoint by demonstrating that ABRAXANE showed a significant improvement in overall response rate as compared to Taxol, in the first-line treatment of patients with advanced non-small cell lung cancer, as assessed by independent radiologist review.
Telular Corporation (NASDAQ: WRLS) 26.8% LOWER; today announced an update to quarterly Telguard unit sales guidance. The Company now expects to sell between 24,000 and 28,000 Telguard units for the current quarter ended March 31, 2010, and 12,000 to 20,000 Telguard units per quarter for the third and fourth fiscal quarters of 2010. This is a decrease from a previous estimate of 30,000 to 40,000 units per quarter for the remainder of fiscal 2010 as previously reported. Despite the adjustment, Telular expects fiscal 2010 net income and net income before non-cash items to grow over fiscal 2009 net income and net income before non-cash items of $1.9 million and $4.7 million, respectively, as the companys solid base of recurring service revenue continues to grow. Net income before non-cash items is a non-GAAP measure which adds back depreciation, amortization and stock-based compensation expense to net income. Click here to see the full report.
The Medicines Company (NASDAQ: MDCO) 20.6% HIGHER; announced today that it is voluntarily expanding the recall of Cleviprex (clevidipine butyrate) injectable emulsion due to the potential presence of visible particulate matter which has been observed in some vials
Central Pacific Financial Corp. (NYSE: CPF) 18.4% HIGHER; announced today the appointment of John Dean as Executive Chairman of the Board of Central Pacific Financial Corp. and Central Pacific Bank, acting subject to regulatory approval. The company also announced that its Board has formed a Recovery Committee.
GreenHunter Energy, Inc. (Amex: GRH) 18.4% HIGHER; announced today that the Imperial County, California Board of Supervisors unanimously approved at a public hearing held yesterday, one or more series of tax-exempt obligations by the California Enterprise Development Authority in an aggregate principal amount not to exceed $20 million for the Company's wholly-owned subsidiary, GreenHunter Mesquite Lake, LLC.
Meridian Bioscience, Inc. (NASDAQ: VIVO) 15.6% LOWER; today announced that it is revising downward its previous sales and earnings guidance for the fiscal year ending September 30, 2010. This action is being taken as a result of weaker than expected operating results for the second quarter ending March 31, 2010, based on preliminary results to date. Separately, Meridian announced that it will file a 510(k) for FDA marketing clearance next week in connection with its illumigene™ C. difficile product. Click here to see the full report.
Molecular Insight Pharmaceuticals, Inc. (NASDAQ: MIPI) 15.3% LOWER; reports a Q4 loss of $0.52, which compares to the analyst estimate of a loss of $0.77 and versus a loss of $0.63 in the same quarter last year. Based on the Company's current projections of cash flow, unless it is able to raise sufficient additional capital, the Company will be in breach of the minimum liquidity requirements under the Indenture governing the Company's Senior Secured Bonds in the second half of 2010. Click here for the full report.
To get this report daily visit http://www.streetinsider.com/entities/Unusual+11+Mid-Day+Movers.
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