Unusual 11 Mid-Day Movers 7/19: TSTR, ZZ, HYC, SWHC Higher; GSAT, TSFG, TNK, ETFC Lower
TerreStar (Nasdaq: TSTR) 23.3% HIGHER; continuing higher 2 days after announcing that it will launch its TerreStar-1 on July 1. The stock has surged 74% since the news hit.
Sealy Corp. (NYSE: ZZ) 23.1% HIGHER; sees Q2 sales of $249-301 million, versus the consensus of $296.79 million. Gross profit for the quarter is expected to be in the range of $119-$123 million.
Hypercom (NYSE: HYC) 23% HIGHER; appears to be breaking out on technicals today. The stock has already traded above its average daily volume and is now just over its 200-day moving average.
Smith & Wesson Holding Corporation (Nasdaq: SWHC) 18.5% HIGHER; announced that it has entered into a definitive agreement to acquire Universal Safety Response, Inc., a privately held, full-service security systems solutions provider, for up to 9.7 million shares of common stock and up to $26.2 million in cash. SWHC announces Q4 FY2009 revenue of $99.5 million versus $90.83 million.
Globalstar (Nasdaq: GSAT) 18.3% LOWER; since announcing a $55 million private placement on Tuesday night, shares have tumbled more than 35%. The stock is seeing extremely heavy volume.
The South Financial Group, Inc. (NASDAQ: TSFG) 17.7% LOWER; today announced that it priced a $75 million offering of 75 million shares of its common stock at $1.00 per share. The underwriters will have a 30-day option to purchase up to an additional 10 million shares of common stock from the Company to cover over-allotments. The closing is expected to occur on or about June 24, 2009.
Solutia Inc. (NYSE: SOA) 14.7% HIGHER; today announced it has completed a public offering of 20,564,891 shares of its common stock at a price of $5.00 per share for gross proceeds of approximately $103 million. Solutia is using the net proceeds to fully repay its $74 million German term loan and for general corporate purposes.
CarMax Inc. (NYSE: KMX) 14% HIGHER; reports Q1 EPS of $0.13, versus the consensus of $0.04 Net sales fell 17% to $1.83 billion, versus the consensus of $1.72 billion.
Teekay Tankers Ltd. (NYSE: TNK) 12.5% LOWER; announced today that it has priced its follow-on public offering of 7,000,000 shares of Class A common stock, at $9.80 per share.
E*TRADE FINANCIAL Corporation (NASDAQ: ETFC) 11.2% LOWER; announced the pricing of its registered public offering of 435 million shares of its common stock at $1.10 per share to the public, for gross proceeds before underwriting discounts and commissions of $478.5 million.
A-Power Energy Generation Systems, Ltd. (Nasdaq: APWR) 10.6% LOWER; announced it has received official meeting minutes of the Shenyang Municipal Government dated June 8, 2009, to agree to form Shenyang Power Group, with A-Power as lead investor and subsidies from the city of Shenyang. Click here for the full report.
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