Morning Movers 05/16: (PRM) (VITA) (CISG) Higher; (SIHI) (CHLN) (NYX) Lower
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PRIMEDIA Inc. (NYSE: PRM) 60.3% HIGHER; entered into a definitive agreement to be acquired by affiliates of TPG Capital for $7.10 per share in cash, representing a transaction enterprise value of approximately $525 million.
Orthovita (Nasdaq: VITA) 40% HIGHER; Stryker (NYSE: SYK) and Orthovita have announced an agreement in which Orthovita will be acquired by Stryker for total consideration of $3.85 per share in cash. The deal is being valued at $316 million.
CNinsure Inc. (Nasdaq: CISG) 29.2% HIGHER; received a preliminary non-binding proposal letter dated May 14, 2011, from TPG Asia V MU, Inc., Kingsford Resources Limited, a company controlled by Mr. Yinan Hu, chairman of the Board of Directors and chief executive officer of the Company, and entities affiliated with him, and CDH Inservice Limited, to acquire all of the outstanding ordinary shares of the Company, other than certain American Depositary Shares or ordinary shares held by the Founder and CDH, in a going private transaction for $19.00 per ADS, or $0.95 per ordinary share, in cash, subject to certain conditions.
SinoHub, Inc. (NYSE: SIHI) 16.6% LOWER; reported Q1 EPS of $0.12, in-line with the analyst estimate of $0.12. Revenue for the quarter came in at $37.97 million versus the consensus estimate of $47.35 million.
EnerNOC, Inc. (Nasdaq: ENOC) 16.4% HIGHER; reports that it expects over $275 million of PJM demand response revenue in 2014. This expectation is based on results of PJM's 2014/2015 Reliability Pricing Model Base Residual Auction announced on May 13th.
LRAD Corp. (Nasdaq: LRAD) 14.2% HIGHER; shares are attempting to move back over the $2.50 level following persistent downside over the last two weeks.
ARCA Biopharma (Nasdaq: ABIO) 13.9% HIGHER; continuing higher this week following a nearly 34 percent rise on Friday. The stock has moved solidly over the $2.50 range today.
China Housing & Land Development, Inc. (NASDAQ: CHLN) 13.5% LOWER; reported Q1 EPS of $0.05, $0.03 worse than the analyst estimate of $0.08. Revenue for the quarter came in at $22.6 million versus the consensus estimate of $24.81 million. Sees FY2011 revenue of $200-$220 million, versus the consensus of $211.65 million.
BioTime (AMEX: BTX) 11% LOWER; continuing lower amid a strong downtrend recently. Shares were over $7 at the beginning of May. Shares have not been below $5 since late 2010.
NYSE Euronext (NYSE: NYX) 10.3% LOWER; Nasdaq (Nasdaq: NDAQ) and IntercontinentalExchange (NYSE: ICE) have withdrawn their offer for the company.
FXCM (NYSE: FXCM) 9.6% LOWER; reported Q1 EPS of $0.18, $0.02 worse than the analyst estimate of $0.20. Revenue for the quarter came in at $94.65 million versus the consensus estimate of $78.24 million.
To get this movers report daily, visit http://www.streetinsider.com/entities/Morning+Movers.
Orthovita (Nasdaq: VITA) 40% HIGHER; Stryker (NYSE: SYK) and Orthovita have announced an agreement in which Orthovita will be acquired by Stryker for total consideration of $3.85 per share in cash. The deal is being valued at $316 million.
CNinsure Inc. (Nasdaq: CISG) 29.2% HIGHER; received a preliminary non-binding proposal letter dated May 14, 2011, from TPG Asia V MU, Inc., Kingsford Resources Limited, a company controlled by Mr. Yinan Hu, chairman of the Board of Directors and chief executive officer of the Company, and entities affiliated with him, and CDH Inservice Limited, to acquire all of the outstanding ordinary shares of the Company, other than certain American Depositary Shares or ordinary shares held by the Founder and CDH, in a going private transaction for $19.00 per ADS, or $0.95 per ordinary share, in cash, subject to certain conditions.
SinoHub, Inc. (NYSE: SIHI) 16.6% LOWER; reported Q1 EPS of $0.12, in-line with the analyst estimate of $0.12. Revenue for the quarter came in at $37.97 million versus the consensus estimate of $47.35 million.
EnerNOC, Inc. (Nasdaq: ENOC) 16.4% HIGHER; reports that it expects over $275 million of PJM demand response revenue in 2014. This expectation is based on results of PJM's 2014/2015 Reliability Pricing Model Base Residual Auction announced on May 13th.
LRAD Corp. (Nasdaq: LRAD) 14.2% HIGHER; shares are attempting to move back over the $2.50 level following persistent downside over the last two weeks.
ARCA Biopharma (Nasdaq: ABIO) 13.9% HIGHER; continuing higher this week following a nearly 34 percent rise on Friday. The stock has moved solidly over the $2.50 range today.
China Housing & Land Development, Inc. (NASDAQ: CHLN) 13.5% LOWER; reported Q1 EPS of $0.05, $0.03 worse than the analyst estimate of $0.08. Revenue for the quarter came in at $22.6 million versus the consensus estimate of $24.81 million. Sees FY2011 revenue of $200-$220 million, versus the consensus of $211.65 million.
BioTime (AMEX: BTX) 11% LOWER; continuing lower amid a strong downtrend recently. Shares were over $7 at the beginning of May. Shares have not been below $5 since late 2010.
NYSE Euronext (NYSE: NYX) 10.3% LOWER; Nasdaq (Nasdaq: NDAQ) and IntercontinentalExchange (NYSE: ICE) have withdrawn their offer for the company.
FXCM (NYSE: FXCM) 9.6% LOWER; reported Q1 EPS of $0.18, $0.02 worse than the analyst estimate of $0.20. Revenue for the quarter came in at $94.65 million versus the consensus estimate of $78.24 million.
To get this movers report daily, visit http://www.streetinsider.com/entities/Morning+Movers.
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