Unusual 11 Mid-Day Movers 9/9: PHST, CRDC, KFY, FNSR Higher; LEH, TWTC, WM, TRA Lower
Pharsight Corporation (Nasdaq: PHST) 32.8% HIGHER; Tripos agreed to acquire Pharsight Corporation for approximately $57 million in cash, or $5.50 per share. Tripos is wholly owned by Vector Capital, a San Francisco-based private equity.
Lehman Brothers Holdings Inc. (NYSE: LEH) 32.8% LOWER; reports hit the wires early this morning saying that talks with Korea Development Bank have ended. Reuters later issued a report refuting this, but no one really knows what is going on with the stock. We are hearing rumors that Lehman could pre-announce earnings in an attempt to stop the drastic slide in its stock.
Cardica, Inc. (Nasdaq: CRDC) 26.7% HIGHER; today announced that the U.S. FDA has granted the company 510(k) clearance to market its PAS-Port(R) Proximal Anastomosis System for use in cardiac bypass surgery.
tw telecom (Nasdaq: TWTC) 18% LOWER; issued a press release this morning saying it has experienced pressure on its revenue growth in the first half of the year from disconnects by customers in the mortgage industry and from very small customers, as well as economy-related pressure in its Midwest region. The stock was also downgraded at Merriman Curhan and Citi to Neutral and Hold, respectively.
Washington Mutual (NYSE: WM) 17.5% LOWER; shares are Lehman are weighing on the entire market, and especially on financials.
Terra Industries (NYSE: TRA) 14.7% LOWER; as crude oil continues to slide (down $2.00 to about $104 today), solar stocks are seeing substantial downside today.
Korn/Ferry International (NYSE: KFY) 11.3% HIGHER; announced first quarter fiscal 2009 diluted earnings per share of $0.36 compared to $0.36 in Q1'08, versus analyst estimates of $0.30. Fee revenue of $205.7 million in Q1'09 increased $20.3 million, or 10.9%, from $185.4 million in Q1'08. Sees FY09 EPS in the range of $0.26-$0.32, versus the consensus of $0.31.
MEMC Electronic Materials (NYSE: WFR) 11.3% LOWER; see Terra Industries.
Finisar (Nasdaq: FNSR) 9.3% HIGHER; reports Q1 EPS of $0.04, 1 cent better than the analyst estimate of $0.03. Revenues for the quarter were $128.7 million, versus the consensus of $122.85 million.
Christopher & Banks Corporation (NYSE: CBK) 8.4% HIGHER; yesterday just after the close, announced that it plans to report its Q209 financial results on Thursday, September 25, 2008 after the market close. The Company also plans to hold a conference call to discuss its financial results in detail at 5:00 p.m. ET/2:00 p.m. PT.
Office Depot (NYSE: ODP) 6.1% HIGHER; after rising more than 7% yesterday, shares of Office Depot continue climbing today. Shares are up 18% so far in September. Office Depot's top competitor, OfficeMax, (NYSE: OMX) is also up 6% today.
Lehman Brothers Holdings Inc. (NYSE: LEH) 32.8% LOWER; reports hit the wires early this morning saying that talks with Korea Development Bank have ended. Reuters later issued a report refuting this, but no one really knows what is going on with the stock. We are hearing rumors that Lehman could pre-announce earnings in an attempt to stop the drastic slide in its stock.
Cardica, Inc. (Nasdaq: CRDC) 26.7% HIGHER; today announced that the U.S. FDA has granted the company 510(k) clearance to market its PAS-Port(R) Proximal Anastomosis System for use in cardiac bypass surgery.
tw telecom (Nasdaq: TWTC) 18% LOWER; issued a press release this morning saying it has experienced pressure on its revenue growth in the first half of the year from disconnects by customers in the mortgage industry and from very small customers, as well as economy-related pressure in its Midwest region. The stock was also downgraded at Merriman Curhan and Citi to Neutral and Hold, respectively.
Washington Mutual (NYSE: WM) 17.5% LOWER; shares are Lehman are weighing on the entire market, and especially on financials.
Terra Industries (NYSE: TRA) 14.7% LOWER; as crude oil continues to slide (down $2.00 to about $104 today), solar stocks are seeing substantial downside today.
Korn/Ferry International (NYSE: KFY) 11.3% HIGHER; announced first quarter fiscal 2009 diluted earnings per share of $0.36 compared to $0.36 in Q1'08, versus analyst estimates of $0.30. Fee revenue of $205.7 million in Q1'09 increased $20.3 million, or 10.9%, from $185.4 million in Q1'08. Sees FY09 EPS in the range of $0.26-$0.32, versus the consensus of $0.31.
MEMC Electronic Materials (NYSE: WFR) 11.3% LOWER; see Terra Industries.
Finisar (Nasdaq: FNSR) 9.3% HIGHER; reports Q1 EPS of $0.04, 1 cent better than the analyst estimate of $0.03. Revenues for the quarter were $128.7 million, versus the consensus of $122.85 million.
Christopher & Banks Corporation (NYSE: CBK) 8.4% HIGHER; yesterday just after the close, announced that it plans to report its Q209 financial results on Thursday, September 25, 2008 after the market close. The Company also plans to hold a conference call to discuss its financial results in detail at 5:00 p.m. ET/2:00 p.m. PT.
Office Depot (NYSE: ODP) 6.1% HIGHER; after rising more than 7% yesterday, shares of Office Depot continue climbing today. Shares are up 18% so far in September. Office Depot's top competitor, OfficeMax, (NYSE: OMX) is also up 6% today.
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