Morning Movers 09/28: (ALTI) (SNX) (POWR) (TSPT) (QCOR) Higher; (IFT) (CIS) (IOC) (RLD) Lower
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Imperial Holdings (NYSE: IFT) 62.5% LOWER; shares were halted yesterday following reports from Palm Beach Post the FBI raided offices in Boca Raton, Florida. While Imperial Holdings responded by saying the investigation was a "complete surprise", several firms have downgraded the stock this morning.
Camelot Information Systems Inc. (NYSE: CIS) 21% LOWER; For the third quarter of 2011, the Company currently expects net revenues of approximately $57 million, compared to approximately $63 million expected previously, and the consensus of $61.59 million. Adjusted net income is now estimated to be approximately $3.1 million, compared to approximately $9.5 million expected previously. For the full-year 2011, the Company currently expects net revenues of approximately $235 million, compared to approximately $244 million expected previously, and adjusted net income attributable to Camelot of approximately $23 million, compared to $34.0 million expected previously. Stock was downgraded at William Blair this morning.
Altair Nanotech (Nasdaq: ALTI) 20.2% HIGHER; technicians seem to be jumping into the stock after seemingly holding above the $1 level over the last two sessions. Volume is very heavy today.
InterOil Corporation (NYSE: IOC) 15.4% LOWER; It looks like the bears are taking control of InterOil again. Shares are down on top of yesterday's 17 percent slide. Recently, Papua New Guinea's new energy minister harshly criticized a LNG joint venture operated by the company.
RealD (NYSE: RLD) 12.4% LOWER; reports from Hollywood Reporter which suggest Sony (NYSE: SNE) will stop paying for the company's 3D glasses next May.
Boise Inc. (NYSE: BZ) 11.1% LOWER; JPMorgan downgraded the stock from Outperform to Neutral, price target cut from $8.50 to $7.00.
SYNNEX Corp. (NYSE: SNX) 11% HIGHER; reported Q3 EPS of $1.07, $0.18 better than the analyst estimate of $0.89. Revenue for the quarter came in at $2.57 billion versus the consensus estimate of $2.57 billion. Sees Q4 EPS of $1.11-$1.15, vs. the consensus of $1.11. See sales $2.78-$2.88 billion, which compares to the Street estimate of $2.82 billion.
PowerSecure (Nasdaq: POWR) 10.6% HIGHER; seems to be retaking a support level over $5 today. The stock has notably moved above its 200-day moving average.
Sealy Corp. (NYSE: ZZ) 10.6% LOWER; reported Q3 EPS of $0.04, in-line with the analyst estimate of $0.04. Revenue for the quarter came in at $334.1 million versus the consensus estimate of $342.11 million.
Transcept Pharmaceuticals, Inc. (Nasdaq: TSPT) 10.3% HIGHER; reports that the company has resubmitted the New Drug Application for Intermezzo (zolpidem tartrate sublingual tablet) to the U.S. Food and Drug Administration (FDA). The resubmission follows a meeting between Transcept and the FDA on September 14, 2011 to discuss issues raised by the FDA in the July 2011 Complete Response Letter.
Questcor Pharmaceuticals, Inc. (NASDAQ: QCOR) 10.2% HIGHER; reports the following preliminary third-quarter operating metrics. Based on internal Company data through September 26, 2011: 1. New, paid prescriptions of the Company's principal drug, H.P. Acthar® Gel (Acthar), for the treatment of exacerbations of multiple sclerosis (MS) during the full third quarter are expected to exceed 850, up over 160% from the year ago period. 2. New, paid prescriptions for nephrotic syndrome (NS) are expected to exceed 55. 3. New, paid prescriptions for infantile spasms (IS) are expected to exceed 105. 4. Vials of Acthar, shipped during the quarter are expected to exceed 2,750, up over 45% from the year ago period.
USA Technologies, Inc. (NASDAQ: USAT) 9.4% LOWER; reported Q4 loss of ($0.01), $0.02 better than the analyst estimate of ($0.03). Revenue for the quarter came in at $6.9 million versus the consensus estimate of $7 million.
Saba Software, Inc. (NASDAQ: SABA) 9.3% HIGHER; reported Q1 EPS of ($0.12), $0.08 better than the analyst estimate of ($0.20). Revenue for the quarter came in at $30.6 million versus the consensus estimate of $29.78 million.
InterDigital (Nasdaq: IDCC) 8.1% HIGHER; stock continuing to rebound today, possibly on the back of a Forbes report from last night which cites a source as saying rumors of the $1-$2 billion bid for the company was a bid for only part of the company.
Camelot Information Systems Inc. (NYSE: CIS) 21% LOWER; For the third quarter of 2011, the Company currently expects net revenues of approximately $57 million, compared to approximately $63 million expected previously, and the consensus of $61.59 million. Adjusted net income is now estimated to be approximately $3.1 million, compared to approximately $9.5 million expected previously. For the full-year 2011, the Company currently expects net revenues of approximately $235 million, compared to approximately $244 million expected previously, and adjusted net income attributable to Camelot of approximately $23 million, compared to $34.0 million expected previously. Stock was downgraded at William Blair this morning.
Altair Nanotech (Nasdaq: ALTI) 20.2% HIGHER; technicians seem to be jumping into the stock after seemingly holding above the $1 level over the last two sessions. Volume is very heavy today.
InterOil Corporation (NYSE: IOC) 15.4% LOWER; It looks like the bears are taking control of InterOil again. Shares are down on top of yesterday's 17 percent slide. Recently, Papua New Guinea's new energy minister harshly criticized a LNG joint venture operated by the company.
RealD (NYSE: RLD) 12.4% LOWER; reports from Hollywood Reporter which suggest Sony (NYSE: SNE) will stop paying for the company's 3D glasses next May.
Boise Inc. (NYSE: BZ) 11.1% LOWER; JPMorgan downgraded the stock from Outperform to Neutral, price target cut from $8.50 to $7.00.
SYNNEX Corp. (NYSE: SNX) 11% HIGHER; reported Q3 EPS of $1.07, $0.18 better than the analyst estimate of $0.89. Revenue for the quarter came in at $2.57 billion versus the consensus estimate of $2.57 billion. Sees Q4 EPS of $1.11-$1.15, vs. the consensus of $1.11. See sales $2.78-$2.88 billion, which compares to the Street estimate of $2.82 billion.
PowerSecure (Nasdaq: POWR) 10.6% HIGHER; seems to be retaking a support level over $5 today. The stock has notably moved above its 200-day moving average.
Sealy Corp. (NYSE: ZZ) 10.6% LOWER; reported Q3 EPS of $0.04, in-line with the analyst estimate of $0.04. Revenue for the quarter came in at $334.1 million versus the consensus estimate of $342.11 million.
Transcept Pharmaceuticals, Inc. (Nasdaq: TSPT) 10.3% HIGHER; reports that the company has resubmitted the New Drug Application for Intermezzo (zolpidem tartrate sublingual tablet) to the U.S. Food and Drug Administration (FDA). The resubmission follows a meeting between Transcept and the FDA on September 14, 2011 to discuss issues raised by the FDA in the July 2011 Complete Response Letter.
Questcor Pharmaceuticals, Inc. (NASDAQ: QCOR) 10.2% HIGHER; reports the following preliminary third-quarter operating metrics. Based on internal Company data through September 26, 2011: 1. New, paid prescriptions of the Company's principal drug, H.P. Acthar® Gel (Acthar), for the treatment of exacerbations of multiple sclerosis (MS) during the full third quarter are expected to exceed 850, up over 160% from the year ago period. 2. New, paid prescriptions for nephrotic syndrome (NS) are expected to exceed 55. 3. New, paid prescriptions for infantile spasms (IS) are expected to exceed 105. 4. Vials of Acthar, shipped during the quarter are expected to exceed 2,750, up over 45% from the year ago period.
USA Technologies, Inc. (NASDAQ: USAT) 9.4% LOWER; reported Q4 loss of ($0.01), $0.02 better than the analyst estimate of ($0.03). Revenue for the quarter came in at $6.9 million versus the consensus estimate of $7 million.
Saba Software, Inc. (NASDAQ: SABA) 9.3% HIGHER; reported Q1 EPS of ($0.12), $0.08 better than the analyst estimate of ($0.20). Revenue for the quarter came in at $30.6 million versus the consensus estimate of $29.78 million.
InterDigital (Nasdaq: IDCC) 8.1% HIGHER; stock continuing to rebound today, possibly on the back of a Forbes report from last night which cites a source as saying rumors of the $1-$2 billion bid for the company was a bid for only part of the company.
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