Unusual 11 Mid-Day Movers 7/23: SOMX, MEDX, VCI, CERS Higher; RPRX, SPAR, CRA, FREE Lower
Somaxon Pharma (Nasdaq: SOMX) 103% HIGHER; shares of Somaxon have surged nearly 200% in just the last 3 days of trading. We are still not hearing any company-specific news that would justify the recent run-up.
Medarex, Inc. (NASDAQ: MEDX) 88.9% HIGHER; Bristol-Myers Squibb Company (NYSE: BMY) and Medarex announced today that the companies have signed a definitive merger agreement providing for the acquisition of Medarex by Bristol-Myers Squibb, for $16.00 per share in cash. Click here for the full report.
Valassis (NYSE: VCI) 53.6% HIGHER; announced today that the company was awarded $300 million for compensatory damages in its lawsuit against News America Marketing, a subsidiary of News Corporation. In the trial, held in Michigan's Wayne County Circuit Court before the Honorable Michael F. Sapala, Valassis claimed unfair competition and tortious interference by NAM. The jury's verdict found NAM liable for both counts.
Cerus (Nasdaq: CERS) 48.7% HIGHER; the stock jumped mid-day on no news. Shares have already traded 900,000 times, which compares to its average daily volume of just 250,000 shares.
TrueBlue, Inc (NYSE: TBI) 38.5% HIGHER; reports Q2 EPS of $0.09, 14 cents better than the analyst estimate of ($0.05). Revenue for the quarter was $247 million, versus the consensus of $227.50 million. Sees Q3 revs of $267-$277 million, versus the consensus of $249.4 million and EPS of $0.10-$0.15, versus the Street estimate of $0.04. The stock was upgraded to Outperform at both BMO and Baird.
Repros Therapeutics Inc. (Nasdaq: RPRX) 31.9% LOWER; provides a clarification on the occurrence of increased liver enzymes in patients treated with the 50 mg dose of Proellex(R). Repros' recent decision to discontinue the use of the Proellex 50 mg dose in its ongoing clinical trials was based on observations of dose-related, clinically significant changes in liver enzymes ( >= 3 x Upper Limit of Normal, or ULN) in a low percentage of women. Following this decision, Repros notified all clinical sites involved in the studies of this important change, and all patients on the 50 mg dose have been switched to a 25 mg dose. More from the release.
Cardica Inc. (Nasdaq: CRDC) 30% HIGHER; seeing continued momentum today following a 50% jump yesterday on news that the full results of the PAS-Port system multi-center pivotal trial, known as the EPIC trial, were published in the July issue of the peer-reviewed publication The Journal of Thoracic and Cardiovascular Surgery. Click here for the full report. The stock may also be seeing upside on the back of very strong earnings from Intuitive Surgical.
Spartan Motors, Inc. (Nasdaq: SPAR) 18.4% LOWER; reports Q2 EPS of $0.16, in-line with the analyst estimate of $0.16. Revenue for the quarter was $124.3 million, versus the consensus of $112.45 million.
Celera Corporation (NYSE: CRA) 17.7% LOWER; said it expects to report revenue for the second quarter of 2009 in the range of $40 million to $42 million, below the consensus of $47.5 million. downgraded to Market Perform at Leerink Swann.
FreeSeas Inc. (Nasdaq: FREE) 16.1% LOWER; announced the pricing of an offering of 8,731,436 shares of its common stock at $1.80 per share for gross proceeds of $15,716,585. The Company expects the offering to close on July 28, 2009. Proceeds from the offering will be used primarily for the acquisition of an additional drybulk vessel, as well as for the repayment of debt and general working capital purposes.
SanDisk Corp. (Nasdaq: SNDK) 12.7% LOWER; reports Q2 EPS of $0.36, ex-items, versus the analyst estimate of ($0.16). Revenue for the quarter was $731 million, versus the consensus of $709.69 million. The stock was also downgraded to Neutral at Broadpoint.AmTech.
To get this report daily visit http://www.streetinsider.com/entities/Unusual+11+Mid-Day+Movers.
Medarex, Inc. (NASDAQ: MEDX) 88.9% HIGHER; Bristol-Myers Squibb Company (NYSE: BMY) and Medarex announced today that the companies have signed a definitive merger agreement providing for the acquisition of Medarex by Bristol-Myers Squibb, for $16.00 per share in cash. Click here for the full report.
Valassis (NYSE: VCI) 53.6% HIGHER; announced today that the company was awarded $300 million for compensatory damages in its lawsuit against News America Marketing, a subsidiary of News Corporation. In the trial, held in Michigan's Wayne County Circuit Court before the Honorable Michael F. Sapala, Valassis claimed unfair competition and tortious interference by NAM. The jury's verdict found NAM liable for both counts.
Cerus (Nasdaq: CERS) 48.7% HIGHER; the stock jumped mid-day on no news. Shares have already traded 900,000 times, which compares to its average daily volume of just 250,000 shares.
TrueBlue, Inc (NYSE: TBI) 38.5% HIGHER; reports Q2 EPS of $0.09, 14 cents better than the analyst estimate of ($0.05). Revenue for the quarter was $247 million, versus the consensus of $227.50 million. Sees Q3 revs of $267-$277 million, versus the consensus of $249.4 million and EPS of $0.10-$0.15, versus the Street estimate of $0.04. The stock was upgraded to Outperform at both BMO and Baird.
Repros Therapeutics Inc. (Nasdaq: RPRX) 31.9% LOWER; provides a clarification on the occurrence of increased liver enzymes in patients treated with the 50 mg dose of Proellex(R). Repros' recent decision to discontinue the use of the Proellex 50 mg dose in its ongoing clinical trials was based on observations of dose-related, clinically significant changes in liver enzymes ( >= 3 x Upper Limit of Normal, or ULN) in a low percentage of women. Following this decision, Repros notified all clinical sites involved in the studies of this important change, and all patients on the 50 mg dose have been switched to a 25 mg dose. More from the release.
Cardica Inc. (Nasdaq: CRDC) 30% HIGHER; seeing continued momentum today following a 50% jump yesterday on news that the full results of the PAS-Port system multi-center pivotal trial, known as the EPIC trial, were published in the July issue of the peer-reviewed publication The Journal of Thoracic and Cardiovascular Surgery. Click here for the full report. The stock may also be seeing upside on the back of very strong earnings from Intuitive Surgical.
Spartan Motors, Inc. (Nasdaq: SPAR) 18.4% LOWER; reports Q2 EPS of $0.16, in-line with the analyst estimate of $0.16. Revenue for the quarter was $124.3 million, versus the consensus of $112.45 million.
Celera Corporation (NYSE: CRA) 17.7% LOWER; said it expects to report revenue for the second quarter of 2009 in the range of $40 million to $42 million, below the consensus of $47.5 million. downgraded to Market Perform at Leerink Swann.
FreeSeas Inc. (Nasdaq: FREE) 16.1% LOWER; announced the pricing of an offering of 8,731,436 shares of its common stock at $1.80 per share for gross proceeds of $15,716,585. The Company expects the offering to close on July 28, 2009. Proceeds from the offering will be used primarily for the acquisition of an additional drybulk vessel, as well as for the repayment of debt and general working capital purposes.
SanDisk Corp. (Nasdaq: SNDK) 12.7% LOWER; reports Q2 EPS of $0.36, ex-items, versus the analyst estimate of ($0.16). Revenue for the quarter was $731 million, versus the consensus of $709.69 million. The stock was also downgraded to Neutral at Broadpoint.AmTech.
To get this report daily visit http://www.streetinsider.com/entities/Unusual+11+Mid-Day+Movers.
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