Morning Movers 10/28: CSBC, QTM, ANIK, RSYS, PEET, WSII Higher; CALC, KSP, PSYS, VCLK, VPHM, GT Lower

October 28, 2009 10:39 AM EDT

California Coastal Communities, Inc. (Nasdaq: CALC) 36.5% LOWER; announced today that the Company and certain of its subsidiaries have filed voluntary petitions for reorganization under Chapter 11 of the U.S. Bankruptcy Code in order to extend the maturity dates of approximately $182 million of indebtedness related to the Company's Brightwater development project and to modify and eliminate certain debt covenants. The petitions were filed on October 27, 2009 in the U.S. Bankruptcy Court in the Central District of California.

K-SEA Transportation Partners LP (NYSE: KSP) 32.3% LOWER; reports Q1 loss of $0.29, cents better than the analyst estimate of $0.29. Cuts its quarterly distribution from $0.77 to $0.44.

Citizens South Banking Corporation (Nasdaq: CSBC) 26.5% HIGHER; today announced that it has withdrawn its public offering of approximately $30 million in common stock due to unfavorable market conditions

Psychiatric Solutions, Inc. (NASDAQ: PSYS) 22.6% LOWER; reports Q3 EPS of $0.50, 6 cents better below the analyst estimate of $0.56. Revenue for the quarter was $455.3 million, which compares to the estimate of $462.18 million. Psychiatric Solutions cuts FY EPS view to $2.11-$2.14, versus the consensus of $2.27. The stock was also downgraded at Soleil.

Quantum Corporation (NYSE: QTM) 20.9% HIGHER; reports Q2 EPS of $0.06, $0.11 ex-items, versus the analyst estimate of $0.04. Revenue for the quarter was $175 million, which compares to the estimate of $164.01 million.

ValueClick, Inc. (NASDAQ: VCLK) 18% LOWER; reports Q3 EPS of $0.15, ex-items, 1 cents better than the analyst estimate of $0.14. Revenue for the quarter was $130.2 million, which compares to the estimate of $129.18 million. Sees Q4 EPS of $0.21-$0.22, versus the consensus of $0.17. Sees Q4 revenues of $128-$138 million, versus the consensus of $142.1 million. The stock was downgraded at Merriman Curhan Ford and Needham.

Anika Therapeutics (NASDAQ: ANIK) 17.3% HIGHER; reports Q3 EPS of $0.13, 3 cents better than the analyst estimate of $0.10. Revenue for the quarter was $10.8 million, which compares to the estimate of $10.44 million.

ViroPharma (NASDAQ: VPHM) 17.1% LOWER; reports Q3 EPS of $0.26, in-line the analyst estimateof $0.26. Revenue for the quarter was $81 million, which compares to the estimate of $84.22 million.

Goodyear Tire & Rubber Co. (NYSE: GT) 16.3% LOWER; reports Q3 EPS of $0.45, 5 cents better than the analyst estimate of $0.40. Revenue for the quarter was $4.4 billion, which compares to the estimate of $4.26 billion.

Illumina Inc. (Nasdaq: ILMN) 15.3% LOWER; reports Q3 EPS of $0.13, ex-items, 7 cents lower than the analyst estimate of $0.20. Revenue for the quarter was $158.4 million, which compares to the estimate of $167.32 million. Sees Q4 adj-EPS of $0.24-$0.25, versus the consensus of $0.27. Sees Q4 minimum sales of $165 million, versus the consensus of $200.16 million. The stock was upgraded to Above Average at Caris.

Apollo Group (NASDAQ: APOL) 14.5% LOWER; reports Q4 EPS of $1.02, 2 cents better than the analyst estimate of $1.04. Revenue for the quarter was $1.08 billion, which compares to the estimate of $1.03 billion. Announces SEC probe into revenue recognition. Numerous firms have downgraded the stock this morning.

StemCells, Inc. (NASDAQ: STEM) 14% LOWER; announced today that it has entered into an agreement to raise approximately $12.5 million in gross proceeds through the sale of approximately 10 million shares of its common stock to selected institutional investors at a price of $1.25 per share. The investors will also receive warrants to purchase approximately four million shares of common stock at an exercise price of $1.50 per share. The shares and warrants are being offered as a registered direct offering under the Company's effective shelf registration statement previously filed with the Securities and Exchange Commission (SEC). StemCells, Inc. expects to receive total proceeds, net of offering expenses and placement agency fees, of approximately $11.9 million.

RadiSys Corporation (NASDAQ: RSYS) 12.6% HIGHER; reports Q3 EPS of $0.13, ex-items, 7 cents better than the analyst estimate of $0.06. Revenue for the quarter was $70.4 million, which compares to the estimate of $70.40 million. Sees Q4 adj-EPS of $0.10-$0.16, versus the consensus of $0.10, with sales $72-$78 million, versus the Street estimate of $73.55 million.

FSI International Inc. (NASDAQ: FSII) 12.6% LOWER; reports Q4 loss of $0.00. Revenue for the quarter was $14.20 million, which compares to the estimate of $15.42 million. Sees Q110 revs of $13 - $16 million.

General Maritime Corp. (NYSE: GMR) 12.6% LOWER; reports Q3 EPS of $0.03, ex-items, 2 cents lower than the analyst estimate of $0.05. Revenue for the quarter was $64.13 million, which compares to the estimate of $66.10 million.

USANA Health Sciences (NASDAQ: USNA) 12.3% LOWER; reports Q3 EPS of $0.51, 3 cents better than the analyst estimate of $0.48. Revenue for the quarter was $110.80 million, which compares to the estimate of $110.06 million. Sees FY09 revs of $431 - $434, and EPS of $2.07 - $2.10. The Street consensus is $437.08 and $2.07, respectively.

Peet's Coffee & Tea Inc. (Nasdaq: PEET) 12% HIGHER; reports Q3 EPS of $0.19, 3 cents better than the analyst estimate of $0.16. Revenue for the quarter was $73.9 million, which compares to the estimate of $71.9 million. Peet's Coffee & Tea raises FY09 EPS to $1.04-$1.06, versus the consensus of $1.00. Peet's Coffee & Tea sees FY10 of $1.24-$1.30, versus the consensus of $1.16.

Waste Services Inc. (NASDAQ: WSII) 11.9% HIGHER; reports Q3 EPS of $0.15, 4 cents better than the analyst estimate of $0.11. Revenue for the quarter was $112.46 million, which compares to the estimate of $112.10 million.

Unisys (NYSE: UIS) 11.8% HIGHER; reports Q3 EPS of $1.48, versus the analyst estimate of $0.45. Revenue for the quarter was $1.16 billion, which compares to the estimate of $1.11 billion.

Chiquita Brands International, Inc. (NYSE: CQB) 11.2% HIGHER; reports Q3 EPS of $0.20, ex-items, versus the analyst estimate of ($0.16). Revenue for the quarter was $801 million, which compares to the estimate of $774.27 million.

Quaker Chemical Corporation (NYSE: KWR) 11.1% HIGHER; reports Q3 EPS of $0.45, 10 cents better than the analyst estimate of $0.35. Revenue for the quarter was $118.9 million, which compares to the estimate of $105 million.

Superior Well Services, Inc. (Nasdaq: SWSI) 10.8% LOWER; today announced that it has commenced a public offering of 6.0 million shares of common stock pursuant to an effective shelf registration statement on Form S-3 previously filed with the SEC. The underwriters for the offering will also have the option to purchase up to 900,000 additional shares of common stock to cover over-allotments, if any. The stock was downgraded at BMO.

Cooper Tire (NYSE: CTB) 10.4% LOWER; trading lower on soft earnings from Goodrich.

RF Monolithics Inc. (Nasdaq: RFMI) 9.9% HIGHER; reports Q4 EPS of $0.01, versus loss of $1.99 last year. Revenue for the quarter was $7.5 million, versus $6.5 million last year.

ANADIGICS, Inc. (NASDAQ: ANAD) 9.5% HIGHER; reports a Q3 loss of $0.10, 5 cents better than the analyst estimate of ($0.15). Revenue for the quarter was $36.7 million, which compares to the estimate of $34.39 million. Net sales for the fourth quarter of 2009 are estimated to increase sequentially over the third quarter of 2009 by approximately 5% to 8%. Non-GAAP loss per share, excluding non-cash stock compensation and management separation expense, is expected to be approximately ($0.08) to ($0.10). (Consensus is a loss of $0.10)

Harris (NYSE: HRS) 8.5% HIGHER; reports Q1 EPS of $0.83, 6 cents better than the analyst estimate of $0.77. Revenue for the quarter was $1.20 billion, which compares to the estimate of $1.21 billion. Harris raises FY EPS guidance to $3.85-$3.95, versus prior guidance of $3.40-$3.50 the consensus $3.37.

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