Largest Net $ Movers of Note 07/14
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UPWARD MOVERS:
Petco Animal Supplies (Nasdaq: PETC) +$8.45; Entered into a definitive agreement to be acquired by two private equity investment firms, Leonard Green & Partners, L.P. and Texas Pacific Group, for $29.00 per share in cash. The total value of the transaction, including assumed debt, is approximately $1.8 billion.
Forest Laboratories (NYSE: FRX) +$5.65; Company said that the U.S. District Court for the District of Delaware has determined that the U.S. patent covering escitalopram, the active ingredient in Lexapro, is both valid, enforceable and infringed by Ivax/Teva's proposed generic product. Also, Jefferies & Co upgrades the stock.
Baidu.com, Inc. (Nasdaq: BIDU) +$3.79; Piper Jaffray upgrade
Baldor Electric Company (NYSE: BEZ) +$1.62; Company reports Q2 EPS of $0.38, 2 cents better than estimates. Revenues were $205.61 million vs. $197.82 million consensus.
Electronic Arts (Nasdaq: ERTS) +$1.62; Stock seeing continued momentum - moving higher for 3rd consecutive session. However, the stock has declined over 20% since May 1st
DOWNWARD MOVERS:
Rocky Brands (Nasdaq: RCKY) -$9.69; Preliminary Q2 revenues of approximately $57 million. The Company also expects to report a diluted loss per share of between ($0.05) to ($0.10), versus diluted earnings per share of $0.50 last year. Current consensus is $63.43 million and $0.43 profit, respectively.
Chemed Corporation (NYSE: CHE) -$9.52; Sees Q2 EPS of $0.48 per share (including $0.05 of cap accrual) vs. $0.54 consensus (may not be comparable). CHE sees full-year EPS between $2.18-2.25 (including a $.09 to $.14 per share of expense for anticipated Medicare billing limitations as well $.03 per share for stock option expense required under SFAS 123R.) vs. consensus of $2.27 (may not be comparable)
Google Inc. (Nasdaq: GOOG) -$7.27; Stock down with no significant news. Some chatter has resurfaced of a merger/partnership/alliance between Microsoft (Nasdaq: MSFT) and Yahoo! (Nasdaq: YHOO).
Manitowoc (NYSE: MTW) -$3.35; The Company has raised its bid for Enodis to $1.64 billion, above the $1.5 billion bid from Middleby (Nasdaq: MIDD).
Sears Holdings Corporation (Nasdaq: SHLD) -$2.73; Stock down with no significant news. The stock has fallen over $15 in the last 3 sessions.
Petco Animal Supplies (Nasdaq: PETC) +$8.45; Entered into a definitive agreement to be acquired by two private equity investment firms, Leonard Green & Partners, L.P. and Texas Pacific Group, for $29.00 per share in cash. The total value of the transaction, including assumed debt, is approximately $1.8 billion.
Forest Laboratories (NYSE: FRX) +$5.65; Company said that the U.S. District Court for the District of Delaware has determined that the U.S. patent covering escitalopram, the active ingredient in Lexapro, is both valid, enforceable and infringed by Ivax/Teva's proposed generic product. Also, Jefferies & Co upgrades the stock.
Baidu.com, Inc. (Nasdaq: BIDU) +$3.79; Piper Jaffray upgrade
Baldor Electric Company (NYSE: BEZ) +$1.62; Company reports Q2 EPS of $0.38, 2 cents better than estimates. Revenues were $205.61 million vs. $197.82 million consensus.
Electronic Arts (Nasdaq: ERTS) +$1.62; Stock seeing continued momentum - moving higher for 3rd consecutive session. However, the stock has declined over 20% since May 1st
DOWNWARD MOVERS:
Rocky Brands (Nasdaq: RCKY) -$9.69; Preliminary Q2 revenues of approximately $57 million. The Company also expects to report a diluted loss per share of between ($0.05) to ($0.10), versus diluted earnings per share of $0.50 last year. Current consensus is $63.43 million and $0.43 profit, respectively.
Chemed Corporation (NYSE: CHE) -$9.52; Sees Q2 EPS of $0.48 per share (including $0.05 of cap accrual) vs. $0.54 consensus (may not be comparable). CHE sees full-year EPS between $2.18-2.25 (including a $.09 to $.14 per share of expense for anticipated Medicare billing limitations as well $.03 per share for stock option expense required under SFAS 123R.) vs. consensus of $2.27 (may not be comparable)
Google Inc. (Nasdaq: GOOG) -$7.27; Stock down with no significant news. Some chatter has resurfaced of a merger/partnership/alliance between Microsoft (Nasdaq: MSFT) and Yahoo! (Nasdaq: YHOO).
Manitowoc (NYSE: MTW) -$3.35; The Company has raised its bid for Enodis to $1.64 billion, above the $1.5 billion bid from Middleby (Nasdaq: MIDD).
Sears Holdings Corporation (Nasdaq: SHLD) -$2.73; Stock down with no significant news. The stock has fallen over $15 in the last 3 sessions.
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