Morning Movers 05/27: (AATI) (FTWR) (RUE) (SEAC) Higher; (GMAN) (CINT) (MHS) (CRDC) Lower
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Advanced Analogic Technologies Incorporated (NASDAQ: AATI) 54.3% HIGHER; Skyworks Solutions, Inc. (NASDAQ: SWKS) has entered a definitive agreement to acquire the company for a nominal price of $6.13 per share. The $6.13 nominal share price consists of $3.68 per share in cash and .08725 of a share of Skyworks common stock for each outstanding share of Advanced Analogic Technologies common stock.
FiberTower (Nasdaq: FTWR) 47.8% HIGHER; shares are continuing to surge today after breaking above the $1 resistance level yesterday. The stock rose nearly 39% yesterday.
Gordmans Stores, Inc. (NASDAQ: GMAN) 22% LOWER; reported Q1 EPS of $0.38, $0.02 better than the analyst estimate of $0.36. Revenue for the quarter came in at $117.7 million versus the consensus estimate of $120.47 million. The stock was also downgraded at Wells Fargo.
rue21, Inc. (NASDAQ: RUE) 17.8% HIGHER; reported Q1 EPS of $0.38, $0.09 better than the analyst estimate of $0.29. Revenue for the quarter came in at $172.9 million versus the consensus estimate of $166.35 million. Sees Q2 2011 EPS of $0.30-$0.32, versus the consensus of $0.31. rue21, Inc. sees FY2011 EPS of $1.50-$1.54, versus prior guidance of $1.40-$1.44 and the consensus of $1.43.
China Information Technology, Inc. (Nasdaq: CNIT) 16.1% LOWER; reports the resignation of Chief Financial Officer Jackie You Kazmerzak. The Company is in the process of vetting suitable candidates to serve as the Company's CFO following Ms. Kazmerzak's departure.
SeaChange (Nasdaq: SEAC) 15.3% HIGHER; shares have jumped after-hours as the WSJ is reporting Arris Group (Nasdaq: ARRS) is said to be in talks to buy SeaChange.
The McClatchy Company (NYSE: MNI) 12.5% HIGHER; has sold 14 acres of Miami land to Bayfront 2011 Property LLC, a subsidiary of Genting Malaysia Berhad. The sale includes the building housing its subsidiary The Miami Herald Media Company and an adjacent parking lot. Sales price on the deal was $236 million.
Medco Health Solutions, Inc. (NYSE: MHS) 11.1% LOWER; disclosed in an SEC filing this morning that on May 26, 2011, the company was notified that the Blue Cross Blue Shield Association intends to transition its mail order and specialty pharmacy benefit coverage for the Federal Employee Program to an alternate provider, effective January 1, 2012.
Cardica (Nasdaq: CRDC) 11% LOWER; in an SEC filing, disclosed the FDA will require clinical data with resect to the staple design for its XPRESS 30 microcutter.
America's Car Mart, Inc. (NASDAQ: CRMT) 10.5% HIGHER; reported Q4 EPS of $0.78, $0.10 better than the analyst estimate of $0.68. Revenue for the quarter came in at $103.4 million versus the consensus estimate of $99.72 million.
Marvell Technology Group Ltd (NASDAQ: MRVL) 10.1% HIGHER; reported Q1 adjusted EPS of $0.29, $0.01 worse than the analyst estimate of $0.30. Revenue for the quarter came in at $802.4 million versus the consensus estimate of $826.12 million. On its call, the company offered some Q2 guidance: sees sales of $870-$910 million, vs. the consensus of $875.76 million. Sees adj-EPS of 35-39c, vs. the consensus of 33c.
Mentor Graphics Corp (NASDAQ: MENT) 8.1% LOWER; reported Q1 EPS of $0.20, $0.02 better than the analyst estimate of $0.18. Revenue for the quarter came in at $230.04 million versus the consensus estimate of $227.02 million. Sees Q2 2011 EPS of $0.05, versus the consensus of $0.20. Sees FY2011 EPS of $1.01, versus the consensus of $1.03.
Skyworks (Nasdaq: SWKS) 7.5% LOWER; buying Advanced Analogic.
Itron (NASDAQ: ITRI) 6.8% LOWER; an analyst at Robert W. Baird downgraded the stock from Neutral to Underperform earlier. The firm reduced its price target on ITRI shares from $60 to $44.
To get this movers report daily, visit http://www.streetinsider.com/entities/Morning+Movers.
FiberTower (Nasdaq: FTWR) 47.8% HIGHER; shares are continuing to surge today after breaking above the $1 resistance level yesterday. The stock rose nearly 39% yesterday.
Gordmans Stores, Inc. (NASDAQ: GMAN) 22% LOWER; reported Q1 EPS of $0.38, $0.02 better than the analyst estimate of $0.36. Revenue for the quarter came in at $117.7 million versus the consensus estimate of $120.47 million. The stock was also downgraded at Wells Fargo.
rue21, Inc. (NASDAQ: RUE) 17.8% HIGHER; reported Q1 EPS of $0.38, $0.09 better than the analyst estimate of $0.29. Revenue for the quarter came in at $172.9 million versus the consensus estimate of $166.35 million. Sees Q2 2011 EPS of $0.30-$0.32, versus the consensus of $0.31. rue21, Inc. sees FY2011 EPS of $1.50-$1.54, versus prior guidance of $1.40-$1.44 and the consensus of $1.43.
China Information Technology, Inc. (Nasdaq: CNIT) 16.1% LOWER; reports the resignation of Chief Financial Officer Jackie You Kazmerzak. The Company is in the process of vetting suitable candidates to serve as the Company's CFO following Ms. Kazmerzak's departure.
SeaChange (Nasdaq: SEAC) 15.3% HIGHER; shares have jumped after-hours as the WSJ is reporting Arris Group (Nasdaq: ARRS) is said to be in talks to buy SeaChange.
The McClatchy Company (NYSE: MNI) 12.5% HIGHER; has sold 14 acres of Miami land to Bayfront 2011 Property LLC, a subsidiary of Genting Malaysia Berhad. The sale includes the building housing its subsidiary The Miami Herald Media Company and an adjacent parking lot. Sales price on the deal was $236 million.
Medco Health Solutions, Inc. (NYSE: MHS) 11.1% LOWER; disclosed in an SEC filing this morning that on May 26, 2011, the company was notified that the Blue Cross Blue Shield Association intends to transition its mail order and specialty pharmacy benefit coverage for the Federal Employee Program to an alternate provider, effective January 1, 2012.
Cardica (Nasdaq: CRDC) 11% LOWER; in an SEC filing, disclosed the FDA will require clinical data with resect to the staple design for its XPRESS 30 microcutter.
America's Car Mart, Inc. (NASDAQ: CRMT) 10.5% HIGHER; reported Q4 EPS of $0.78, $0.10 better than the analyst estimate of $0.68. Revenue for the quarter came in at $103.4 million versus the consensus estimate of $99.72 million.
Marvell Technology Group Ltd (NASDAQ: MRVL) 10.1% HIGHER; reported Q1 adjusted EPS of $0.29, $0.01 worse than the analyst estimate of $0.30. Revenue for the quarter came in at $802.4 million versus the consensus estimate of $826.12 million. On its call, the company offered some Q2 guidance: sees sales of $870-$910 million, vs. the consensus of $875.76 million. Sees adj-EPS of 35-39c, vs. the consensus of 33c.
Mentor Graphics Corp (NASDAQ: MENT) 8.1% LOWER; reported Q1 EPS of $0.20, $0.02 better than the analyst estimate of $0.18. Revenue for the quarter came in at $230.04 million versus the consensus estimate of $227.02 million. Sees Q2 2011 EPS of $0.05, versus the consensus of $0.20. Sees FY2011 EPS of $1.01, versus the consensus of $1.03.
Skyworks (Nasdaq: SWKS) 7.5% LOWER; buying Advanced Analogic.
Itron (NASDAQ: ITRI) 6.8% LOWER; an analyst at Robert W. Baird downgraded the stock from Neutral to Underperform earlier. The firm reduced its price target on ITRI shares from $60 to $44.
To get this movers report daily, visit http://www.streetinsider.com/entities/Morning+Movers.
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