Unusual 11 Mid-Day Movers 08/08: (BSFT) (RES) (AZK) Higher; (ZOLL) (MTG) (CT) Lower
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ZOLL Medical Corp. (Nasdaq: ZOLL) 27.7% LOWER; filed it's 10-Q with the U.S. Securities and Exchange Commission today. Under the "Risk Factors" section, this disclosure was made with respect to it's LifeVest product: "On August 4, 2011, a Durable Medical Equipment Regional Carrier issued for comment draft revisions to the local coverage determinations with respect to Medicare reimbursement for automated external defibrillators and wearable defibrillators, including our LifeVest product. The draft revisions would limit the indications for Medicare reimbursement for the LifeVest product. These draft revisions are subject to public hearings and comments . We believe that following the public hearing process, the current indications for Medicare reimbursement of the LifeVest product will not be limited; however, in the event the draft revisions were to become final, the draft limitations on the indications for Medicare reimbursement would have a material adverse effect on our LifeVest business" (emphasis ours).
MGIC Investment Corp. (NYSE: MTG) 26.4% LOWER; the entire insurance sector is getting crushed this afternoon. Elsewhere: Radian (NYSE: RDN) down 18.8 percent, Assured Guaranty (NYSE: AGO) down 11.4 percent, AIG (NYSE: AIG) down 9.8 percent, Hartford (NYSE: HIG) down 9.1 percent. Notably, shares of PMI Group (NYSE: PMI), down 53 percent on Thursday and another 38 percent on Friday, are being bought today.
Capital Trust (NYSE: CT) 26.1% LOWER; traders selling the agency mortgage REIT group, possibly on the back of bearish note from Citi this morning. The firm said following the S&P's downgrade of the US government, further ratings downgrades may spur concern related to higher-than-expected repo cuts. Citi believes these haircuts could rise 50-100 basis points from the current 4 percent.
BroadSoft, Inc. (Nasdaq: BSFT) 24.9% HIGHER; reported Q2 EPS of $0.29, 17 cents better than the analyst estimate of $0.12. Revenue for the quarter came in at $32.2 million versus the consensus estimate of $28.77 million. Sees Q3 2011 EPS of $0.20-$0.23, versus the consensus of $0.14. Sees Q3 2011 revenue of $31-$33 million, versus the consensus of $29.81 million. Sees FY2011 EPS of $1.10-$1.15, versus prior guidance of $0.90-$0.95 and the consensus of $0.75. The company had previously guided EPS to 67-77 cents. BroadSoft, Inc. sees FY2011 revenue of $127-$130 million, versus the consensus of $125.21 million. Sales guidance was $121-$125 million.
DG FastChannel, Inc. (Nasdaq: DGIT) 24.8% LOWER; reported Q2 EPS of $0.55, 3 cents better than the analyst estimate of $0.52. Revenue for the quarter came in at $67.85 million versus the consensus estimate of $73.59 million.
Altra Holdings, Inc. (Nasdaq: AIMC) 24.8% LOWER; reported Q2 EPS of $0.34, 8 cents worse than the analyst estimate of $0.42. Revenue for the quarter came in at $165.4 million versus the consensus estimate of $168.89 million. Altra sees FY11 EPS of $1.43 to $1.53, versus the consensus of $1.52. Sees FY2011 revenue of $660 to $680 million, versus the consensus of $646.75 million.
RPC, Inc. (NYSE: RES) 12.7% HIGHER; Bloomberg reports the RPC has retained Goldman Sachs in evaluating a potential sale of itself.
Aurizon Mines Ltd. (AMEX: AZK) 9.9% HIGHER; moving higher today on record gold prices above $1,700 per ounce following S&P's downgrade of U.S. debt from AAA to AA+.
Randgold Resources (Nasdaq: GOLD) 8.8% HIGHER; sees Aurizon Mines above.
ACADIA Pharma (Nasdaq: ACAD) 8.2% HIGHER; traders buying the dip this week following a more than 17 percent decline on Thursday and Friday of last week.
Medicis Pharmaceutical Corp. (NYSE: MRX) 7.9% HIGHER; the WSJ reports Medicis was approached by Valeant Pharma (NYSE: VRX) about a possible sale.
To get this report daily visit http://www.streetinsider.com/entities/Unusual+11+Mid-Day+Movers.
MGIC Investment Corp. (NYSE: MTG) 26.4% LOWER; the entire insurance sector is getting crushed this afternoon. Elsewhere: Radian (NYSE: RDN) down 18.8 percent, Assured Guaranty (NYSE: AGO) down 11.4 percent, AIG (NYSE: AIG) down 9.8 percent, Hartford (NYSE: HIG) down 9.1 percent. Notably, shares of PMI Group (NYSE: PMI), down 53 percent on Thursday and another 38 percent on Friday, are being bought today.
Capital Trust (NYSE: CT) 26.1% LOWER; traders selling the agency mortgage REIT group, possibly on the back of bearish note from Citi this morning. The firm said following the S&P's downgrade of the US government, further ratings downgrades may spur concern related to higher-than-expected repo cuts. Citi believes these haircuts could rise 50-100 basis points from the current 4 percent.
BroadSoft, Inc. (Nasdaq: BSFT) 24.9% HIGHER; reported Q2 EPS of $0.29, 17 cents better than the analyst estimate of $0.12. Revenue for the quarter came in at $32.2 million versus the consensus estimate of $28.77 million. Sees Q3 2011 EPS of $0.20-$0.23, versus the consensus of $0.14. Sees Q3 2011 revenue of $31-$33 million, versus the consensus of $29.81 million. Sees FY2011 EPS of $1.10-$1.15, versus prior guidance of $0.90-$0.95 and the consensus of $0.75. The company had previously guided EPS to 67-77 cents. BroadSoft, Inc. sees FY2011 revenue of $127-$130 million, versus the consensus of $125.21 million. Sales guidance was $121-$125 million.
DG FastChannel, Inc. (Nasdaq: DGIT) 24.8% LOWER; reported Q2 EPS of $0.55, 3 cents better than the analyst estimate of $0.52. Revenue for the quarter came in at $67.85 million versus the consensus estimate of $73.59 million.
Altra Holdings, Inc. (Nasdaq: AIMC) 24.8% LOWER; reported Q2 EPS of $0.34, 8 cents worse than the analyst estimate of $0.42. Revenue for the quarter came in at $165.4 million versus the consensus estimate of $168.89 million. Altra sees FY11 EPS of $1.43 to $1.53, versus the consensus of $1.52. Sees FY2011 revenue of $660 to $680 million, versus the consensus of $646.75 million.
RPC, Inc. (NYSE: RES) 12.7% HIGHER; Bloomberg reports the RPC has retained Goldman Sachs in evaluating a potential sale of itself.
Aurizon Mines Ltd. (AMEX: AZK) 9.9% HIGHER; moving higher today on record gold prices above $1,700 per ounce following S&P's downgrade of U.S. debt from AAA to AA+.
Randgold Resources (Nasdaq: GOLD) 8.8% HIGHER; sees Aurizon Mines above.
ACADIA Pharma (Nasdaq: ACAD) 8.2% HIGHER; traders buying the dip this week following a more than 17 percent decline on Thursday and Friday of last week.
Medicis Pharmaceutical Corp. (NYSE: MRX) 7.9% HIGHER; the WSJ reports Medicis was approached by Valeant Pharma (NYSE: VRX) about a possible sale.
To get this report daily visit http://www.streetinsider.com/entities/Unusual+11+Mid-Day+Movers.
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