Unusual 11 Mid-Day Movers 3/5: GVHR, CWTR, FAZ, WTW Higher; SOA, JTX, GBX, GYMB Lower
Gevity HR, Inc. (NASDAQ: GVHR) 83% HIGHER; TriNet announced the signing of a definitive agreement to acquire Gevity HR for $4.00 per share in an all cash transaction valued at approximately $98 million. Click here for the full report.
Solutia Inc. (NYSE: SOA) 42.4% LOWER; Flexsys America L.P., a subsidiary of Solutia, today announced it is moving forward with its patent infringement case against Sinorgchem Co., Ltd., Korea Kumho Petrochemical Co., Ltd., Kumho Tire Co. Inc. and Kumho Tire U.S.A., Inc. in the U.S. District Court for the Northern District of Ohio. The suit claims infringement of U.S. patents held by Flexsys as a result of the importation, sale and use in the United States of 4-ADPA made by Sinorgchem, 6PPD and other antidegradants made from Sinorgchem's 4-ADPA, and tires made by Kumho Tire containing those antidegradants. Flexsys is seeking a multi-million dollar damage award, as well as a permanent injunction against the defendants.
Jackson Hewitt Tax Service Inc. (NYSE: JTX) 37.2% LOWER; reports Q3 non-GAAP EPS of $0.74, 2 cents better than the analyst estimate of $0.72. Revenues for the quarter were $97.8 million, versus the consensus of $104.73 million. Sees FY09 EPS of $1.00-$1.10, versus the consensus of $1.48, and revs of $250-$255 million, versus the Street estimate of $295 million.
The Greenbrier Companies (NYSE: GBX) 31.1% LOWER; disclosed today it is in discussions with General Electric (NYSE: GE) Railcar Services Corporation concerning potential modifications to a long-term contract for GE's purchase of 11,900 newly built tank and covered hopper cars over an eight-year period. GE has advised the Company it desires to substantially reduce, delay or otherwise cancel railcar deliveries under the contract.
Gymboree (Nasdaq: GYMB) 27.8% LOWER; reports Q4 EPS of $1.00, 2 cents better than the analyst estimate of $0.98. Revenues for the quarter were $288.7 million, versus the consensus of $287.99 million. Gymboree sees Q1 EPS 18c to 25c versus 76 cents consensus. Sees Q1 comps down 20% to 25%.
Darling International (NYSE: DAR) 24.6% LOWER; reports Q4 adj-loss of $0.04, versus the analyst estimate of $0.11. Revenues for the quarter were $148.5 million, versus the consensus of $153.96 million.
Coldwater Creek Inc. (Nasdaq: CWTR) 19.9% HIGHER; reports Q4 loss of $0.20, 3 cents better than the analyst estimate of ($0.23). Revenues for the quarter were $283.2 million, versus the consensus of $283.05 million. Same store sales fell 21.4% during the quarter.
Financial Bear 3x (NYSE: FAZ) 18% HIGHER; financials are getting crushed today on continued fears of confidence in the banking system. Citi (NYSE: C) dipping below $1 earlier certainly didn't help. Elsewhere in the sector: Wells Fargo (NYSE: WFC) down 14.5%, Bank of America (NYSE: BAC) down 8.4%, JPMorgan (NYSE: JPM) down 10%, Morgan Stanley (NYSE: MS) down 6.4%, US Bancorp (NYSE: USB) down 11%. Notably USB just had news that it will give back its TARP funds.
Weight Watchers International, Inc. (NYSE: WTW) 16.5% HIGHER; reports Q4 EPS of $0.56, 4 cents better than the analyst estimate of $0.52. Revenues for the quarter were $346.2 million, versus the consensus of $355.75 million. Sees FY09 EPS $2.50 to $2.75 versus $2.70 consensus.
The Children's Place Retail Stores, Inc. (Nasdaq: PLCE) 15.8% HIGHER; reports sales of $110.4 million during the month of February, with comparable store sales were flat from February '08, which saw a 9% jump in same store sales.
Orion Marine Group (Nasdaq: OMGI) 15.2% HIGHER; reports Q4 EPS of $0.25, 5 cents better than the analyst estimate of $0.20. Revenues for the quarter were $79.24 million, versus the consensus of $73.24 million.
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