Unusual 11 Mid-Day Movers 5/21: SMRT, OPEN, DDUP, BPI Higher; ZZ, NWY, ESLR, ALY Lower
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Stein Mart (Nasdaq: SMRT) 43.7% HIGHER; reports Q1 EPS of $0.38, 22 cents better than the analyst estimate of $0.16. Revenue for the quarter was $319.6 million, versus the consensus of $315.9 million. Reports Q1 SSS down 8%.
OpenTable (Nasdaq: OPEN) 40% HIGHER; another hot IPO hits the market today! after initially ranging at $12-$14, then getting raised to $16-$18, the IPO priced at $20 and has since surged another $7.
Data Domain (Nasdaq: DDUP) 35% HIGHER; to be acquired by NetApp for $25 per share. Click here for the full report.
Sealy (NYSE: ZZ) 30.8% LOWER; since the March lows, shares of Sealy rallied more than 1210%, giving back about 60% since hitting a recent high around $5.65 on May 11. The stock is breaking solidly below the $3 level today on extremely heavy volume.
Bridgepoint Education (NYSE: BPI) 28.9% HIGHER; reports Q1 non-GAAP EPS of $0.20. Revenue for the quarter was $84.3 million, versus $38.9 million in Q108. Sees FY09 EPS of $0.87-$0.90 on sales of $405-$410 million. Sees '09 total enrollment of 47-49K.
Vical Incorporated (Nasdaq: VICL) 27% HIGHER; announced that in the two weeks since launching its program to develop a vaccine against H1N1 influenza (swine flu), the company has completed development of a prototype H1 vaccine, produced an initial supply of research-grade material, and initiated immunogenicity testing in animals. Assuming a successful outcome of this testing and a commitment for program-specific external funding, the company is ready to advance directly to large-scale cGMP manufacturing of vaccine for human clinical trials to be conducted by the U.S. Navy.
Tessera Technologies, Inc. (NASDAQ: TSRA) 25.7% HIGHER; today announced that the International Trade Commission issued a final determination in the action brought by Tessera against certain wireless manufacturers, Investigation No. 337-TA-605 (Wireless ITC action), finding Tessera's asserted patents are valid and infringed. Click here for the full report.
New York & Company Inc. (NYSE: NWY) 22.3% LOWER; reports Q1 loss of $0.08, in-line with the analyst estimate of ($0.08). Revenue for the quarter was $232.9 million, versus the consensus of $240.54 million.
Evergreen Solar, Inc. (Nasdaq: ESLR) 17.9% LOWER; priced its previously announced public offering of common stock at a price to the public of $1.80 per share for a total of 37,000,000 shares to be sold in the offering. Click here for the full report.
Allis-Chalmers Energy Inc. (NYSE: ALY) 17.8% LOWER; announced an issuance to its stockholders of rights to purchase approximately 35.7 million shares of its common stock at a subscription price of $2.50 per share. Lime Rock Partners V, L.P. has agreed, subject to certain terms and conditions, to backstop the offering by purchasing from Allis-Chalmers, at the same price, any shares not purchased by Allis-Chalmers' existing stockholders, up to the number of shares of common stock that will constitute 34.055% of Allis-Chalmers' common stock outstanding after the offering and the closing of the backstop commitment. Allis-Chalmers intends to use the proceeds of the offering to repay indebtedness outstanding under its bank credit facility and senior notes.
Regions Financial Corporation (NYSE: RF) 15.1% LOWER; priced a public offering of 400 million shares of its common stock at a price to the public of $4 per share and a public offering of 250,000 shares of its 10% Mandatory Convertible Preferred Stock, Series B. Shares of Regions Financial closed at $4.89 yesterday and $5.24 before the offering was announced. The offerings will generate gross proceeds of approximately $1.85 billion, without giving effect to the exercise of the underwriters' options to purchase additional securities.
To get this report daily visit http://www.streetinsider.com/entities/Unusual+11+Mid-Day+Movers.
OpenTable (Nasdaq: OPEN) 40% HIGHER; another hot IPO hits the market today! after initially ranging at $12-$14, then getting raised to $16-$18, the IPO priced at $20 and has since surged another $7.
Data Domain (Nasdaq: DDUP) 35% HIGHER; to be acquired by NetApp for $25 per share. Click here for the full report.
Sealy (NYSE: ZZ) 30.8% LOWER; since the March lows, shares of Sealy rallied more than 1210%, giving back about 60% since hitting a recent high around $5.65 on May 11. The stock is breaking solidly below the $3 level today on extremely heavy volume.
Bridgepoint Education (NYSE: BPI) 28.9% HIGHER; reports Q1 non-GAAP EPS of $0.20. Revenue for the quarter was $84.3 million, versus $38.9 million in Q108. Sees FY09 EPS of $0.87-$0.90 on sales of $405-$410 million. Sees '09 total enrollment of 47-49K.
Vical Incorporated (Nasdaq: VICL) 27% HIGHER; announced that in the two weeks since launching its program to develop a vaccine against H1N1 influenza (swine flu), the company has completed development of a prototype H1 vaccine, produced an initial supply of research-grade material, and initiated immunogenicity testing in animals. Assuming a successful outcome of this testing and a commitment for program-specific external funding, the company is ready to advance directly to large-scale cGMP manufacturing of vaccine for human clinical trials to be conducted by the U.S. Navy.
Tessera Technologies, Inc. (NASDAQ: TSRA) 25.7% HIGHER; today announced that the International Trade Commission issued a final determination in the action brought by Tessera against certain wireless manufacturers, Investigation No. 337-TA-605 (Wireless ITC action), finding Tessera's asserted patents are valid and infringed. Click here for the full report.
New York & Company Inc. (NYSE: NWY) 22.3% LOWER; reports Q1 loss of $0.08, in-line with the analyst estimate of ($0.08). Revenue for the quarter was $232.9 million, versus the consensus of $240.54 million.
Evergreen Solar, Inc. (Nasdaq: ESLR) 17.9% LOWER; priced its previously announced public offering of common stock at a price to the public of $1.80 per share for a total of 37,000,000 shares to be sold in the offering. Click here for the full report.
Allis-Chalmers Energy Inc. (NYSE: ALY) 17.8% LOWER; announced an issuance to its stockholders of rights to purchase approximately 35.7 million shares of its common stock at a subscription price of $2.50 per share. Lime Rock Partners V, L.P. has agreed, subject to certain terms and conditions, to backstop the offering by purchasing from Allis-Chalmers, at the same price, any shares not purchased by Allis-Chalmers' existing stockholders, up to the number of shares of common stock that will constitute 34.055% of Allis-Chalmers' common stock outstanding after the offering and the closing of the backstop commitment. Allis-Chalmers intends to use the proceeds of the offering to repay indebtedness outstanding under its bank credit facility and senior notes.
Regions Financial Corporation (NYSE: RF) 15.1% LOWER; priced a public offering of 400 million shares of its common stock at a price to the public of $4 per share and a public offering of 250,000 shares of its 10% Mandatory Convertible Preferred Stock, Series B. Shares of Regions Financial closed at $4.89 yesterday and $5.24 before the offering was announced. The offerings will generate gross proceeds of approximately $1.85 billion, without giving effect to the exercise of the underwriters' options to purchase additional securities.
To get this report daily visit http://www.streetinsider.com/entities/Unusual+11+Mid-Day+Movers.
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