Unusual 11 Mid-Day Movers 9/1: (CYNA) (JAGX) (PI) Higher; (GCO) (VEC) (CYTK) Lower
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Genesco (NYSE: GCO) 31.1% LOWER; reported Q2 EPS of $0.34, $0.07 better than the analyst estimate of $0.27. Revenue for the quarter came in at $625.6 million versus the consensus estimate of $642.53 million. Comps fell 1 percent, versus expectations of a 1 percent increase. Genesco sees FY2017 EPS of $3.80-$4.00, versus prior guidance of $4.80-$4.90 and the consensus of $4.91.
Jaguar Animal Health, Inc. (Nasdaq: JAGX) 21.5% HIGHER; announced additional topline results today from its study conducted in conjunction with researchers from Cornell University College of Veterinary Medicine (“Cornell”) to evaluate the efficacy of the prophylactic use of a second-generation, powder formulation of Neonorm™ Calf, administered in liquid, on naturally occurring diarrhea and dehydration in preweaned dairy calves.
Vectrus, Inc. (NYSE: VEC) 17.6% LOWER; announced the government did not select the company's contract proposal to provide logistics support services in Kuwait and Qatar under the Army Pre-positioned Stocks-5 (APS-5) contract. Vectrus is the incumbent contractor providing these services, which are fully funded through Nov. 30, 2016, and have the potential to extend through Feb. 28, 2017.
Impinj (Nasdaq: PI) 16.9% HIGHER; reported Q2 EPS of $0.06, $0.04 better than the analyst estimate of $0.02. Revenue for the quarter came in at $26 million versus the consensus estimate of $25.31 million. Impinj sees Q3 2016 EPS of $0.01-$0.09, versus the consensus of $0.04. Impinj sees Q3 2016 revenue of $27.4-28.9 million, versus the consensus of $26.8 million.
Oxford Industries (NYSE: OXM) 15.0% HIGHER; reported Q2 EPS of $1.48, $0.10 better than the analyst estimate of $1.38. Revenue for the quarter came in at $283 million versus the consensus estimate of $274.55 million. Oxford Industries sees Q3 2016 EPS of ($0.05)-$0.05, versus the consensus of ($0.08). Oxford Industries sees Q3 2016 revenue of $220-230 million, versus the consensus of $219.2 million.
Highpower International (Nasdaq: HPJ) 14.9% HIGHER; On August 30, 2016, Hong Kong Highpower Technology, Co. Ltd., wholly-owned subsidiary of Highpower International, Inc. (the “Company”) entered into a non-binding Cooperation Framework Agreement (the “Framework Agreement”) with Anshan Co-operation (Group) Co., Ltd. (“ACOC”) under which ACOC proposes to purchase newly issued shares of Shenzhen Highpower Technology Co., Ltd., Springpower Technology (Shenzhen) Co., Ltd. and Icon Energy System (Shenzhen) Co., Ltd., the Company’s subsidiaries organized in People's Republic of China (the "PRC"), for RMB540 million, or approximately US$80.7 million (based on an exchange rate of approximately $6.69 as of August 31, 2016).
Cytokinetics, Inc. (Nasdaq: CYTK) 13.9% LOWER; announced the advancement of omecamtiv mecarbil to Phase 3 clinical development with a cardiovascular outcomes clinical trial expected to initiate in the fourth quarter of 2016. Omecamtiv mecarbil, a novel investigational cardiac myosin activator, enhances cardiac function by increasing cardiac contractility and is being developed for the potential treatment of patients with chronic heart failure.
Danaos Corporation (NYSE: DAC) 13.5% LOWER; received notice that Hanjin Shipping Co. Ltd. ("Hanjin") has filed for receivership with the Seoul Central District Court and requested that the court freeze its assets. Danaos currently charters eight of its vessels to Hanjin on long term, fixed rate time charters. The time charters associated with these vessels represent approximately $560 million of Danaos' $2.8 billion contracted revenue backlog as of June 30, 2016. The vessels contracted to Hanjin include three 10,100 TEU vessels built in 2011 and five 3,400 TEU vessels built in 2010 and 2011.
NL Industries Inc. (NYSE: NL) 12.0% LOWER; Effective September 1, 2016, the registrant's board of directors elected Amy A. Samford as the registrant's vice president and controller. Tim C. Hafer, who previously served as the registrant's vice president and controller, will continue to serve as vice president and controller of Kronos Worldwide, Inc., a publicly held corporation in which the registrant has a significant investment.
Vera Bradley (Nasdaq: VRA) 10.7% HIGHER; reported Q2 EPS of $0.14, $0.01 better than the analyst estimate of $0.13. Revenue for the quarter came in at $119.2 million versus the consensus estimate of $118.73 million. Comps fell 5.7 percent, versus a drop of 4 percent expected. The copany sees Q3 revenue of $128 - $133 and EPS of $0.22 - $0.24, versus consensus expectations calling for revenue of $129.7 million and EPS of $0.28.
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