Morning Movers 03/29: (TRCI) (SHZ) Higher; (HRZ) (ALTI) (DYP) (NVGN) (ACMR) Lower
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Technology Research Corporation (Nasdaq: TRCI) 38.8% HIGHER; Coleman Cable, Inc. (Nasdaq: CCIX) and TRC today announced in a press release that the two companies came to a definitive merger agreement. Coleman will acquire all of the outstanding shares of TRCI for $7.20 per share in cash, in a transaction valued at approximately $51.5 million on a fully diluted basis. The transaction will be funded with Coleman's cash on hand and existing borrowing facilities, and will not be subject to any financing condition.
Horizon Lines (AMEX: HRZ) 31.1% LOWER; traders have brought the stock below the $3 level for the first time since early 2009 following the filing of its latest 10-K.
Altair Nanotechnologies, Inc. (Nasdaq: ALTI) 25.2% LOWER; has entered into several agreements for the private placement for $6.4 million of common stock. Under the terms of the transaction, these institutional investors will purchase 3.6 million shares of Altair common stock at a purchase price of $1.784 per share.
Duoyuan Printing (NYSE: DYP) 21.2% LOWER; NYSE to suspend trading in the stock.
Novogen (Nasdaq: NVGN) 16.1% LOWER; traders are taking profits today following a whopping 104% surge yesterday.
China Shen Zhou Mining & Resources, Inc. (AMEX: SHZ) 14.9% HIGHER; reported Q4 EPS of ($0.09), compared to $0.48 for the same period last year. Revenue for the quarter came in at $4.89 million, versus $1.13 million last year. Sees FY11 revenue of $38 million.
New Energy Systems Group (Nasdaq: NEWN) 12.9% HIGHER; reports Q4 EPS of $0.35, 6 cents better than the analyst estimate of $0.29. Revenue for the quarter came in at $22.4 million, versus the consensus estimate of $20.90 million. Sees FY11 adj-EPS of $1.69-$1.75, vs. the consensus of $1.57, sales $130-$135 million, vs. the consensus of $118.4 million.
AC Moore Arts & Crafts Inc. (Nasdaq: ACMR) 12.5% LOWER; reported Q4 loss of $0.13, $0.16 worse than the analyst estimate of $0.03. Revenue for the quarter came in at $143.2 million versus the consensus estimate of $142.15 million.
A123 Systems (Nasdaq: AONE) 12.4% LOWER; announces an 18 million common stock offering. AONE also announces a $125 million principal amount of convertible subordinated notes due 2016 offering. A123 intends to grant the underwriters a 30-day option to purchase up to an additional 2,700,000 shares of common stock, with respect to the stock offering, and up to $18.75 million aggregate principal amount of the convertible notes, with respect to the notes offering.
ANADIGICS (Nasdaq: ANAD) 12% LOWER; announces the resignation of its CEO Mario Rivas. The Senior VP of RF Products Group, Greg White, has also resigned. COO Ron Michels will become the CEO, while Tom Shields will take Michels place as COO. ANADIGICS sees Q1 sales on track with its prior outlook.
Ocean Bio-Chem (Nasdaq: OBCI) 12% LOWER; correcting today following a 50% surge yesterday amid strong FY10 results.
CryptoLogic (Nasdaq: CRYP) 11.1% LOWER; traders are taking profits this morning following a late-day surge yesterday. The stock has risen 78% over the last three trading sessions.
Telestone Technologies Corp. (NASDAQ: TSTC) 10.3% LOWER; reported Q4 EPS of $1.33, ex-items, $0.06 better than the analyst estimate of $1.27. Revenue for the quarter came in at $60.8 million versus the consensus estimate of $59.45 million.
EDAP TMS SA (NASDAQ: EDAP) 10% LOWER; reported Q4 adjusted loss of $0.18, $0.02 worse than the analyst estimate of ($0.16). Revenue for the quarter came in at $10.8 million versus the consensus estimate of $12.25 million.
FelCor Lodging Trust Incorporated (NYSE: FCH) 9.9% LOWER; prices a 24 million common stock offering at $6.00 per share. FelCor granted the underwriters a 30-day option to purchase up to 3.6 million additional shares of common stock.
CVB Financial Corp. (NASDAQ: CVBF) 9.4% HIGHER; announced the sale of six of seven notes previously held in connection with its former largest borrowing relationship. The sale was made to an unrelated third party and closed on March 25, 2011. The six notes, with a bank carrying value of $42.9 million (and a legal principal balance of $78.1 million), were sold for $41 million.
To get this movers report daily, visit http://www.streetinsider.com/entities/Morning+Movers.
Horizon Lines (AMEX: HRZ) 31.1% LOWER; traders have brought the stock below the $3 level for the first time since early 2009 following the filing of its latest 10-K.
Altair Nanotechnologies, Inc. (Nasdaq: ALTI) 25.2% LOWER; has entered into several agreements for the private placement for $6.4 million of common stock. Under the terms of the transaction, these institutional investors will purchase 3.6 million shares of Altair common stock at a purchase price of $1.784 per share.
Duoyuan Printing (NYSE: DYP) 21.2% LOWER; NYSE to suspend trading in the stock.
Novogen (Nasdaq: NVGN) 16.1% LOWER; traders are taking profits today following a whopping 104% surge yesterday.
China Shen Zhou Mining & Resources, Inc. (AMEX: SHZ) 14.9% HIGHER; reported Q4 EPS of ($0.09), compared to $0.48 for the same period last year. Revenue for the quarter came in at $4.89 million, versus $1.13 million last year. Sees FY11 revenue of $38 million.
New Energy Systems Group (Nasdaq: NEWN) 12.9% HIGHER; reports Q4 EPS of $0.35, 6 cents better than the analyst estimate of $0.29. Revenue for the quarter came in at $22.4 million, versus the consensus estimate of $20.90 million. Sees FY11 adj-EPS of $1.69-$1.75, vs. the consensus of $1.57, sales $130-$135 million, vs. the consensus of $118.4 million.
AC Moore Arts & Crafts Inc. (Nasdaq: ACMR) 12.5% LOWER; reported Q4 loss of $0.13, $0.16 worse than the analyst estimate of $0.03. Revenue for the quarter came in at $143.2 million versus the consensus estimate of $142.15 million.
A123 Systems (Nasdaq: AONE) 12.4% LOWER; announces an 18 million common stock offering. AONE also announces a $125 million principal amount of convertible subordinated notes due 2016 offering. A123 intends to grant the underwriters a 30-day option to purchase up to an additional 2,700,000 shares of common stock, with respect to the stock offering, and up to $18.75 million aggregate principal amount of the convertible notes, with respect to the notes offering.
ANADIGICS (Nasdaq: ANAD) 12% LOWER; announces the resignation of its CEO Mario Rivas. The Senior VP of RF Products Group, Greg White, has also resigned. COO Ron Michels will become the CEO, while Tom Shields will take Michels place as COO. ANADIGICS sees Q1 sales on track with its prior outlook.
Ocean Bio-Chem (Nasdaq: OBCI) 12% LOWER; correcting today following a 50% surge yesterday amid strong FY10 results.
CryptoLogic (Nasdaq: CRYP) 11.1% LOWER; traders are taking profits this morning following a late-day surge yesterday. The stock has risen 78% over the last three trading sessions.
Telestone Technologies Corp. (NASDAQ: TSTC) 10.3% LOWER; reported Q4 EPS of $1.33, ex-items, $0.06 better than the analyst estimate of $1.27. Revenue for the quarter came in at $60.8 million versus the consensus estimate of $59.45 million.
EDAP TMS SA (NASDAQ: EDAP) 10% LOWER; reported Q4 adjusted loss of $0.18, $0.02 worse than the analyst estimate of ($0.16). Revenue for the quarter came in at $10.8 million versus the consensus estimate of $12.25 million.
FelCor Lodging Trust Incorporated (NYSE: FCH) 9.9% LOWER; prices a 24 million common stock offering at $6.00 per share. FelCor granted the underwriters a 30-day option to purchase up to 3.6 million additional shares of common stock.
CVB Financial Corp. (NASDAQ: CVBF) 9.4% HIGHER; announced the sale of six of seven notes previously held in connection with its former largest borrowing relationship. The sale was made to an unrelated third party and closed on March 25, 2011. The six notes, with a bank carrying value of $42.9 million (and a legal principal balance of $78.1 million), were sold for $41 million.
To get this movers report daily, visit http://www.streetinsider.com/entities/Morning+Movers.
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