Unusual 11 Mid-Day Movers 8/18: AXL, HURN, RTK, BPOP Higher; SCR, RPRX, GERN, DFG Lower
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American Axle & Manufacturing Holdings, Inc. (NYSE: AXL) 92.8% HIGHER; entered into a second extension of the Waiver and Amendment, dated as of June 29, 2009, of which, among other things, extends the Waiver Extension termination date of August 20, 2009 to August 31, 2009. The Second Waiver Extension requires AAM to maintain a daily minimum liquidity of $75 million and can be terminated under certain circumstances, including AAM’s inability to meet the minimum liquidity test for four consecutive business days. The company also announced it will receive $110 million from GM.
Huron Consulting Group Inc. (NASDAQ: HURN) 39.7% HIGHER; reports Q2 non-GAAP EPS of $0.84, versus $1.06 reported in the same quarter last year. Revenue for the quarter was $165.8 million, versus the consensus of $164.97 million. Reaffirms FY09 sales outlook.
Rentech, Inc. (AMEX: RTK) 34.1% HIGHER; announced that it has signed an unprecedented multi-year agreement to supply eight airlines with up to 1.5 million gallons per year of renewable synthetic diesel (RenDiesel(R)) for ground service equipment operations at Los Angeles International Airport beginning in late 2012, when the plant that will produce the fuel is scheduled to go into service.
Popular (Nasdaq: BPOP) 28.4% HIGHER; after opening relatively flat, shares of Popular have surged mid-day on no company-specific news but extremely heavy volume. With about 18% of its float shorted at the beginning of August, today's move may be the result of short-covering.
Pluristem Therapeutics (Nasdaq: PSTI) 25.4% HIGHER; shares are continuing higher today following a 10% rally late in the day yesterday. The stock has already traded 972,000 times, which compares to its average daily volume of just 50,000 shares.
Tower Semi (NASDAQ: TSEM) 16.5% HIGHER; Tower's Jazz Semiconductor, announced it is targeted at replacing GaAs components in high growth markets such as millimeter wave and front-end components of cellular phones with its enhanced SiGe BiCMOS process, IP and design enablement offerings. SiGe provides significant integration and cost advantage over GaAs, enabling products in the emerging markets of automotive collision avoidance, phased-array radar, and HDTV wireless distribution as well as established markets such as optical network and cellular phone front-end components. Here is the full report.
Simcere Pharmaceutical Group (NYSE: SCR) 13.8% LOWER; reports Q2 EPS of $0.09 on sales of $62.13 million. The Company's board of directors approved a new share repurchase program under which Simcere Pharmaceutical Group may purchase up to $50 million worth of its issued and outstanding ADSs.
Repros Therapeutics (Nasdaq: RPRX) 13.4% LOWER; continuing lower once again today following yesterday's worse-than-expected Q2 results. The stock fell nearly 30% yesterday.
Geron Corporation (Nasdaq: GERN) 10.5% LOWER; announced that its IND for GRNOPC1, a cell therapy for neurologically complete, subacute spinal cord injury, has been placed on clinical hold by the FDA pending the agency's review of new nonclinical animal study data submitted by the company. A clinical hold is an order that the FDA issues to a sponsor to delay a proposed trial or to suspend an ongoing trial.
Delphi Financial Group, Inc. (NYSE: DFG) 9.9% LOWER; announced today that it has priced its previously announced public offering of 3,000,000 shares of its Class A common stock at $21.00 per share to the public. Delphi has granted the underwriter a 30-day option to purchase up to 450,000 additional shares of Class A common stock.
Solarfun Power Holdings Co., Ltd. (Nasdaq: SOLF) 8.1% LOWER; reports Q2 non-GAAP EPS of $0.08, 12 cents better than the analyst estimate of ($0.04). Revenue for the quarter was $125.1 million, versus the consensus of $116.73 million. PV module shipments reached 64.3 MW in Q209, an increase from 43.1 MW in Q208 and 35.7 MW in Q109. Sees total module shipments exceeding 100MW in Q3. For Q4, shipments are expected to be about 80MW. Average selling prices to further decline to US$2.00 per watt, or below, by the end of 2009.
To get this report daily visit http://www.streetinsider.com/entities/Unusual+11+Mid-Day+Movers.
Huron Consulting Group Inc. (NASDAQ: HURN) 39.7% HIGHER; reports Q2 non-GAAP EPS of $0.84, versus $1.06 reported in the same quarter last year. Revenue for the quarter was $165.8 million, versus the consensus of $164.97 million. Reaffirms FY09 sales outlook.
Rentech, Inc. (AMEX: RTK) 34.1% HIGHER; announced that it has signed an unprecedented multi-year agreement to supply eight airlines with up to 1.5 million gallons per year of renewable synthetic diesel (RenDiesel(R)) for ground service equipment operations at Los Angeles International Airport beginning in late 2012, when the plant that will produce the fuel is scheduled to go into service.
Popular (Nasdaq: BPOP) 28.4% HIGHER; after opening relatively flat, shares of Popular have surged mid-day on no company-specific news but extremely heavy volume. With about 18% of its float shorted at the beginning of August, today's move may be the result of short-covering.
Pluristem Therapeutics (Nasdaq: PSTI) 25.4% HIGHER; shares are continuing higher today following a 10% rally late in the day yesterday. The stock has already traded 972,000 times, which compares to its average daily volume of just 50,000 shares.
Tower Semi (NASDAQ: TSEM) 16.5% HIGHER; Tower's Jazz Semiconductor, announced it is targeted at replacing GaAs components in high growth markets such as millimeter wave and front-end components of cellular phones with its enhanced SiGe BiCMOS process, IP and design enablement offerings. SiGe provides significant integration and cost advantage over GaAs, enabling products in the emerging markets of automotive collision avoidance, phased-array radar, and HDTV wireless distribution as well as established markets such as optical network and cellular phone front-end components. Here is the full report.
Simcere Pharmaceutical Group (NYSE: SCR) 13.8% LOWER; reports Q2 EPS of $0.09 on sales of $62.13 million. The Company's board of directors approved a new share repurchase program under which Simcere Pharmaceutical Group may purchase up to $50 million worth of its issued and outstanding ADSs.
Repros Therapeutics (Nasdaq: RPRX) 13.4% LOWER; continuing lower once again today following yesterday's worse-than-expected Q2 results. The stock fell nearly 30% yesterday.
Geron Corporation (Nasdaq: GERN) 10.5% LOWER; announced that its IND for GRNOPC1, a cell therapy for neurologically complete, subacute spinal cord injury, has been placed on clinical hold by the FDA pending the agency's review of new nonclinical animal study data submitted by the company. A clinical hold is an order that the FDA issues to a sponsor to delay a proposed trial or to suspend an ongoing trial.
Delphi Financial Group, Inc. (NYSE: DFG) 9.9% LOWER; announced today that it has priced its previously announced public offering of 3,000,000 shares of its Class A common stock at $21.00 per share to the public. Delphi has granted the underwriter a 30-day option to purchase up to 450,000 additional shares of Class A common stock.
Solarfun Power Holdings Co., Ltd. (Nasdaq: SOLF) 8.1% LOWER; reports Q2 non-GAAP EPS of $0.08, 12 cents better than the analyst estimate of ($0.04). Revenue for the quarter was $125.1 million, versus the consensus of $116.73 million. PV module shipments reached 64.3 MW in Q209, an increase from 43.1 MW in Q208 and 35.7 MW in Q109. Sees total module shipments exceeding 100MW in Q3. For Q4, shipments are expected to be about 80MW. Average selling prices to further decline to US$2.00 per watt, or below, by the end of 2009.
To get this report daily visit http://www.streetinsider.com/entities/Unusual+11+Mid-Day+Movers.
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