Unusual 11 Mid-Day Movers 7/16: ABIO, HGSI, CHINA, UFPI Higher; CIT, NOK, RECN, SLT Lower
CIT Group Inc. (NYSE: CIT) 69.3% LOWER; announced that it has been advised that there is no appreciable likelihood of additional government support being provided over the near term. The Company's Board of Directors and management, in consultation with its advisors, are evaluating alternatives.
ARCA biopharma (Nasdaq: ABIO) 39.9% HIGHER; we are not hearing anything from the company, but today's move must be trader speculation that ARCA's lead product candidate, Gencaro, may have received FDA approval. Volume is extremely heavy: the stock has already traded more than 1 million times, which compares to its average daily volume of just 150,000 shares.
Human Genome Sciences (Nasdaq: HGSI) 33.1% HIGHER; according to a Dow Jones headline, HGSI plans to release data from a late-stage trial on Benlysta, its experimental drug for lupus, on Monday.
CDC Corporation (Nasdaq: CHINA) 26% HIGHER; CDC Software Corporation, a wholly-owned subsidiary of CDC Corp. has filed a registration statement on Form F-1 with the U.S. SEC for an IPO of American Depositary Shares. Each ADS represents one Class A ordinary share of CDC Software and the estimated price for each ADS offered ranges from $11.00 to $13.00. Click here for the full report.
Universal Forest Products, Inc. (Nasdaq: UFPI) 18.2% HIGHER; reports Q2 EPS of $0.83, versus the analyst estimate of $0.46. Revenue for the quarter was $514.9 million, versus the consensus of $559.58 million and compared to $708.49 in the same quarter last year.
BioDelivery Sciences International Inc. (Nasdaq: BDSI) 16.3% HIGHER; spiking mid-day today as we are hearing that the FDA has approved Aveva's Onsolis, which is marketed under license from BioDelivery.
Nokia (NYSE: NOK) 14.5% LOWER; reports Q2 EPS of EUR 0.15, versus the analyst estimate of $0.18. Revenue for the quarter was EUR 9.913 billion, versus EUR 13.155 billion in the same quarter last year.
Kulicke and Soffa Industries (Nasdaq: KLIC) 13.9% HIGHER; since announcing that its Senior VP and CFO resigned on Monday after the close, shares of KLIC have jumped about 23%.
Resources Connections (Nasdaq: RECN) 13.4% LOWER; reports Q4 loss of $0.14, which may not compare to the analyst estimate of $0.04. Revenue for the quarter was $142 million, versus the consensus of $143.62 million.
Sterlite Industries (India) Limited (NYSE: SLT) 12.9% LOWER; announces that it has priced its public offering of 123,456,790 new equity shares in the form of American Depositary Shares, at a price of $12.15 per ADS, which is expected to result in approximately US$1.50 billion of gross proceeds. These ADSs will be listed on the New York Stock Exchange under the symbol "SLT".
AIG (NYSE: AIG) 9.4% LOWER; after the close yesterday, announced that it will accelerate steps to position Alico as an independent entity and seek an initial public offering and public listing in New York, depending on market conditions and subject to regulatory approval. Click here for the full report.
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