Unusual 11 Mid-Day Movers 5/1: COT, TREE, FIG, WNC Higher; NVAX, COBR, BCRX, ALC Lower
Cott Corporation (NYSE: COT) 41.6% HIGHER; reports Q1 EPS of $0.28, 35 cents better than estimates. Revenues were $367.0 million vs. $377.33 million consensus.
Tree.com (Nasdaq: TREE) 40.8% HIGHER; reports Q1 EPS of $0.32, versus the analyst estimate of ($0.01). Revenue for the quarter was $57.3 million, versus the consensus of $55.41 million.
Fortress (NYSE: FIG) 37.3% HIGHER; traders may be buying the stock on better-than-expected earnings out of GFI Group. The stock may also be seeing upside following comments made by the company's CEO which are now being highlighted in a WSJ article. The exec said HIG is cutting expenses and considering a "range of options", including the possible sale of assets.
Wabash National Corporation (NYSE: WNC) 34.4% HIGHER; announced last night that as part of its ongoing discussions with its bank group, effective April 28, 2009, it entered into a forbearance agreement regarding its revolving credit facility. Pursuant to the forbearance agreement, the bank group has agreed to refrain from accelerating maturity of the credit facility due to the existing events of default through May 29, 2009. As part of the forbearance agreement, an availability reserve of $22.5 million was established, adjusting downward the $25 million reserve that was previously announced.
GFI Group Inc. (Nasdaq: GFIG) 33.3% HIGHER; reports Q1 EPS of $0.11, ex-items, 5 cents better than the analyst estimate of $0.06. Revenue for the quarter was $216.2 million, versus the consensus of $205.31 million. Sees Q2 revs down about 23%.
Big 5 Sporting Goods Corporation (Nasdaq: BGFV) 27.8% HIGHER; reports Q1 EPS of $0.13, 8 cents better than the analyst estimate of $0.05. Revenue for the quarter was $210.3 million, versus the consensus of $201.17 million. Declares $0.05/share quarter dividend. Sees Q2 same store sales in the flat to positive low-single digit range and EPS in the range of $0.10-$0.18. For comparative purposes, the Company's EPS Q2 were $0.08, including a non-recurring charge of $0.04 per diluted share. (Consensus is $0.01) The stock was also upgraded to Buy at Needham.
Novavax (Nasdaq: NVAX) 24.2% LOWER; continues to correct for the third day in a row following a 3-day rally which boosted shares nearly 300%. The upside momentum came from concerns related to the no-longer called swine flu. The stock is down more than 41% over the last 3 trading sessions.
Cobra Electronics Corporation (Nasdaq: COBR) 23.9% LOWER; reports Q1 loss of $0.25, compared to a gain of $0.01 in the same quarter last year. Revenue for the quarter was $19.1 million, versus $28.9 million in Q108.
BioCryst (Nasdaq: BCRX) 19.7% LOWER; see Novavax.
Assisted Living Concept (NYSE: ALC) 15.6% LOWER; reports Q1 EPS of $0.24 (ex-items), 4 cents worse than the analyst estimate of $0.28. Revenue for the quarter was $57.63 million, versus the consensus of $59.16 million.
The Washington Post Company (NYSE: WPO) 14.3% LOWER; reports Q1 loss of $2.04, or $0.41 ex-items, versus the analyst estimate of $3.48 and compared to $4.08 in the same quarter last year. Revenue for the quarter was $1.05 billion, versus the consensus of $1.07 billion.
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