Unusual 11 Mid-Day Movers 5/1: NETM, LHCG, VLCM, IMB Higher; NWK, PDGI, GRZ, HOLX Lower

May 1, 2008 1:03 PM EDT

NetManage, Inc. (Nasdaq: NETM) 66.8% HIGHER; agreed to be acquired by Micro Focus International for $7.20 per share. This represents a premium of approximately 73% over the closing share price of NetManage's common stock on April 30, 2008 of $4.15.

Network Equipment Technologies (NYSE: NWK) 34% LOWER; reports Q1 EPS of $0.09, 2 cents better than the analyst estimate of $0.07. Revenues for the quarter were $33.4 million, versus the consensus of $33.92 million.

PharmaNet Development Group, Inc. (Nasdaq: PDGI) 28.8% LOWER; reports Q1 loss of $0.53 per share, well below the consensus of a $0.30 profit. Revenues came in at $86.8 million, versus the consensus of $94.6 million. Sees FY08 EPS of $0.53-$0.63 versus the consensus of $1.52.

LHC Group (Nasdaq: LHCG) 28% HIGHER; reports Q1 EPS of $0.32, cents better than the analyst estimate of $0.29. Revenues for the quarter were $83.5 million, versus the consensus of $78.71 million.

Gold Reserve Inc. (AMEX: GRZ) 25.5% LOWER; today announced the Venezuelan Ministry of Environment has communicated its plan to rescind the March 2007 permit for the commencement of the construction phase of the Brisas Project. Additionally, JPMorgan downgraded the stock to Neutral. Today's decline extends yesterday's 30% decline in Gold Reserve's stock price.

Volcom (Nasdaq: VLCM) 24% HIGHER; reports Q1 EPS of $0.38, 17 cents better than the analyst estimate of $0.21. Revenues for the quarter were $80.6 million, versus the consensus of $69.54 million. Sees Q2 EPS of $0.16-$0.17, versus the consensus of $0.25. Sees Q2 revs of $69-$70M, versus the consensus of $71.5 million. Sees FY EPS of $1.56-$1.59, versus the consensus of $1.51.

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IndyMac Bancorp Inc. (NYSE: IMB) 22.8% HIGHER; Announces CFO change. Provides an update, saying, "Our loss for Q108 will decline by roughly 50% to 65% from Q407, and roughly 25% of this loss is coming from one-time severance and office closing costs."

Hologic Inc. (Nasdaq: HOLX) 21% LOWER; reports Q2 EPS of $0.22, 6 cents lower than the analyst estimate of $0.28. Revenues for the quarter were $431 million, versus the consensus of $418.09 million.

Amkor Technology, Inc. (Nasdaq: AMKR) 21% HIGHER; reports Q1 EPS of $0.36, 10 cents better than the analyst estimate of $0.26. Revenues for the quarter were $699 million, versus the consensus of $684.25 million. Sees Q2 EPS of $0.32-$0.36, versus the consensus of $0.28.

o2 Micro (Nasdaq: OIIM) 20% HIGHER; reports Q1 EPS of $0.06, versus the analyst estimate of $0.02. Revenues for the quarter were $37.6 million, versus the consensus of $38.02 million. o2 was also upgraded to Buy at Piper Jaffray and Roth Capital.

FARO Technologies (Nasdaq: FARO) 19% LOWER; reports Q1 EPS of $0.20, versus the analyst estimate of $0.27. Revenues for the quarter were $46.1 million, versus the consensus of $48.66 million.

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• Piper Jaffray
• JPMorgan
• Roth Capital
• Scopia Capital

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