Unusual 11 Mid-Day Movers 7/1: OSK, BORL, UIS, SDTH Higher; BEAT, FRPT, RPRX, SPAR Lower
CardioNet (Nasdaq: BEAT) 40.1% LOWER; sees FY09 sales of $156 million to $160 million, versus the consensus of $171.9 million. The revenue guidance is based on lower than anticipated commercial reimbursement rates. Volume growth continues to be significant, but is expected to be somewhat lower than the Company had anticipated. Sees FY09 non-GAAP EPS of $0.30-$0.35, versus the consensus of $0.66. Also downgraded to Hold at both Citi and Roth Capital.
Force Protection Inc. (Nasdaq: FRPT) 36.4% LOWER; sinking on news Oshkosh has won a contract for blast-proof trucks. Also downgraded by Collins Stewart to Hold and by Dougherty to Neutral.
Repros Therapeutics (Nasdaq: RPRX) 35.1% LOWER; announced today that an end of Phase II meeting is scheduled with the FDA for late September 2009 to discuss a Phase III program investigating the use of Proellex in the treatment of endometriosis. Click here for the full report.
Oshkosh Corporation (NYSE: OSK) 29.3% HIGHER; wins $1.06 billion contract for blast-proof truck, according to a source from the Pentagon. Click here for the full report.
Spartan Motors (Nasdaq: SPAR) 28.3% LOWER; falling amid the Oshkosh news. Also downgraded to Neutral at Dougherty.
Myriad Genetics, Inc. (NASDAQ: MYGN) 22.9% LOWER; announced that, based on preliminary estimates, it anticipates reporting total molecular diagnostic revenue, which represents the bulk of the Company's revenue, of approximately $86 million for Q4. (Consensus is $91.63M) The stock has also been the target of numerous bearish analyst reports today: RBC, Morgan Joseph and Oppenheimer all downgraded the stock, while Piper Jaffray started coverage at Underweight.
Borland Software Corporation (Nasdaq: BORL) 18.6% HIGHER; entered into a Second Amendment to Agreement and Plan of Merger by and among Bentley Merger Sub, Inc., Micro Focus International plc, Micro Focus, Inc. and the Company. The Second Amendment provides that (i) the merger consideration under the merger agreement increased from $1.15 to $1.50 per share in cash and (ii) the termination fee payable in certain circumstances increased from $4 million to $5.2 million. The Merger Agreement otherwise remains in full force and effect. The Board of Directors of Borland Software approved the Second Amendment on June 30, 2009.
Unisys Corporation (NYSE: UIS) 15.2% HIGHER; surging on news after the close that the company the commenced private exchange offers and consent solicitations in respect of its number of Senior Notes. Click here for the full report.
ShengdaTech (Nasdaq: SDTH) 15.2% HIGHER; spiking today on the back of a Roth Capital upgrade from Hold to Buy.
Lindsay Corporation (NYSE: LNN) 10.5% HIGHER; reports Q3 EPS of $0.42, versus the analyst estimate of $0.25. Revenue for the quarter was $84.6 million, versus the consensus of $84.09 million.
Constellation Brands Inc. (NYSE: STZ) 9.5% HIGHER; reports Q1 EPS of $0.33, versus the consensus of $0.32. Revenues came in at $792 million, versus the consensus of $780.9 million. Constellation Brands sees FY10 EPS on a comparable basis of $1.60 - $1.70, versus the consensus of $1.62
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