Unusual 11 Mid-Day Movers 8/20: PAY, FED, STSI, EXP Higher; KUN, NVTL, FLE, FNM Lower
StreetInsider.com Unusual 11 Mid-Day Movers:
China Shenghuo Pharmaceutical Holdings, Inc. (Amex: KUN) 28% LOWER; announced today that the filing of its Quarterly Report on Form 10-Q for the fiscal quarter ended June 30, 2008 would be delayed beyond the filing deadline.
Verifone (NYSE: PAY) 24% HIGHER; sees Q4 EPS of $0.36 to $0.39, versus the analyst estimate of $0.21. Sees revenues for the quarter were $260 million to $268 million, versus the consensus of $229.6 million. VeriFone Holdings sees FY09 EPS of $1.35-$1.55 versus analyst consensus of $1.01. For the full year ending Oct 31, 2009, VeriFone expects to achieve net revenue growth of 10 to 15% annual growth, consistent with its long-term growth targets. VeriFone is projecting continued improvements to gross margins as the year progresses as a result of product cost reduction initiatives and improved pricing strategies.
Novatel Wireless (Nasdaq: NVTL) 22.7% LOWER; reports preliminary Q2 EPS of $0.03, which may not compare to the analyst estimate of $0.11. Revenues for the quarter were $89.8 million, versus the consensus of $87.84 million. Sees Q3 sales in the range of $80-$85 million, versus the consensus of $96.55 million and non-GAAP EPS of $0.00-$0.03, versus the Street estimate of $0.15. Also, the stock was downgraded at Piper Jaffray and Morgan Joseph to Sell and Hold, respectively.
FirstFed Financial (NYSE: FED) 16.6% HIGHER; in a Form 8-K filing, the bank issued its monthly report of operations for July. FirstFed saw the percentage of adjustable rate loans to its total portfolio fall from 79.73% to 77.48%, its exposure to ARM's fall and total deposits increase.
Star Scientific (Nasdaq: STSI) 15.8% HIGHER; not seeing any news from the company that would justify today's sharp move.
Fleetwood Enterprises (NYSE: FLE) 14.6% LOWER; Moody's cut Fleetwood's corporate family rating and probability of default rating from Caa1 to Caa3 and issued a negative outlook.
Fannie Mae (NYSE: FNM) 14% LOWER; down on continued fears the Treasury will have to implement their bail-out plan, wiping out common shareholders.
Freddie Mac (NYSE: FRE) 13.9% LOWER; down on continued fears the Treasury will have to implement their bail-out plan, wiping out common shareholders.
Eagle Materials (NYSE: EXP) 12.6% HIGHER; yesterday just after the close, in a 13D filing, Ash Grove Cement Company disclosed a 5% stake (2,194,298 shares) in Eagle Materials. The stake makes Ash Grove the sixth largest holder of the stock.
Suntech Power (NYSE: STP) 11.9% HIGHER; reports Q2 earnings of $0.41 per share, ex-items, above the consensus of $0.32. Revenues came in at $480.2 million, versus the consensus of $439.3 million. Suntech sees Q3 revenues of $570-$580 million, above the consensus of $542.65 million. Suntech sees FY08 revenues fo $2.05-$2.15 billion, versus prior guidance of $1.9-$2.1 billion, versus the consensus of $2.06 billion.
Energy Conversion Devices (Nasdaq: ENER) 7% HIGHER; much of the solar sector is seeing upside during today's trading session on the back of Suntech's strong Q2 results.
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