Morning Movers 10/05: (CAST) (EK) (STP) (RIMM) Higher; (LUFK) (MILL) (APKT) Lower
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Chinacast Education (Nasdaq: CAST) 30.2% HIGHER; shares fell 30% on Monday and another 4% yesterday amid rumors an auditor raised concerns about the company's financial statements. Yesterday Chinacast issued a release saying auditors have raised no concerns.
Eastman Kodak (NYSE: EK) 16.5% HIGHER; the stock continues to be a target for traders as volatility has been unprecedented over the last two weeks. After falling 53% on Friday amid bankruptcy fears, the stock bounced 71% on Monday only to fall 16% yesterday. The WSJ reported early this morning the company is selling its small silver unit to another silver supplier in upstate New York.
Suntech (NYSE: STP) 15.1% HIGHER; shares continuing to correct over the $2 level today. After plunging sharply over the last month (with a 26% slide coming on Monday to push the stock under $2), the stock rose 20% yesterday.
RIM (Nasdaq: RIMM) 13.9% HIGHER; a source in the UK is rumoring Vodafone (NYSE: VOD) may be interested in buying RIM shares. The rumored price is at $45 per share.
Lufkin (Nasdaq: LUFK) 13.7% LOWER; offers preliminary Q3 results: sales $225-$235 million, down from prior guidance of $230-$250 million and compared to the Street estimate of $242.52 million. Sees EPS of 55-60 cents, down from a prior 72-82 cent range and compared to the analyst consensus of 77c. Sees Q4 sales of $240-$260 million, which compares to the Street estimate of $255.22 million. EPS are expected to be 70-80c, vs. the consensus of 91c. The company had previously expected Q4 EPS of 85-95c.
James River Coal (Nasdaq: JRCC) 13.3% HIGHER; coal stocks continuing to bounce today. The Market Vectors Coal ETF (NYSE: KOL) is now up more than 9 percent from around 3pm ET yesterday, at which time stocks bounced sharply. James River shares surged 16 percent yesterday. The stock was down 30 percent over the prior five trading sessions.
Corinthian Colleges (Nasdaq: COCO) 12.5% HIGHER; education stocks are bouncing today, possibly on the back of a Credit Suisse upgrade of Apollo (Nasdaq: APOL).
Miller Energy Resources (NYSE: MILL) 11.9% LOWER; correcting today following a massive 25 percent rally over just the last ten minutes of trading yesterday.
Acme Packet (Nasdaq: APKT) 11.8% LOWER; offers preliminary Q3 results: adj-EPS of 20-22 cents, vs. the consensus estimate of 29 cents, sales about $70 million, which compares to the Street estimate of $82.9 million. Reaffirms its FY11 guidance. The stock was upgraded at Wedbush this morning.
Alphatec (Nasdaq: ATEC) 8.8% HIGHER; reports resolution of a recent FDA warning letter. The letter was related to the company's Carlsbad, CA facility.
BioCryst Pharmaceuticals, Inc. (Nasdaq: BCRX) 8.4% HIGHER; reports positive top-line results from its Phase 2b randomized, double-blind, dose-response study of BCX4208 in gout patients who had failed to reach the clinically important serum uric acid (sUA) goal of <6 mg/dL on allopurinol alone. Detailed study findings will be shared at an upcoming medical meeting.
Satcon Technology Corp. (Nasdaq: SATC) 7.3% HIGHER; has been selected by Q-Cells North America to supply an additional 40 megawatts (MW) of their Prism Platform solutions for the Starwood project in Sault St Marie, Ontario.
Eastman Kodak (NYSE: EK) 16.5% HIGHER; the stock continues to be a target for traders as volatility has been unprecedented over the last two weeks. After falling 53% on Friday amid bankruptcy fears, the stock bounced 71% on Monday only to fall 16% yesterday. The WSJ reported early this morning the company is selling its small silver unit to another silver supplier in upstate New York.
Suntech (NYSE: STP) 15.1% HIGHER; shares continuing to correct over the $2 level today. After plunging sharply over the last month (with a 26% slide coming on Monday to push the stock under $2), the stock rose 20% yesterday.
RIM (Nasdaq: RIMM) 13.9% HIGHER; a source in the UK is rumoring Vodafone (NYSE: VOD) may be interested in buying RIM shares. The rumored price is at $45 per share.
Lufkin (Nasdaq: LUFK) 13.7% LOWER; offers preliminary Q3 results: sales $225-$235 million, down from prior guidance of $230-$250 million and compared to the Street estimate of $242.52 million. Sees EPS of 55-60 cents, down from a prior 72-82 cent range and compared to the analyst consensus of 77c. Sees Q4 sales of $240-$260 million, which compares to the Street estimate of $255.22 million. EPS are expected to be 70-80c, vs. the consensus of 91c. The company had previously expected Q4 EPS of 85-95c.
James River Coal (Nasdaq: JRCC) 13.3% HIGHER; coal stocks continuing to bounce today. The Market Vectors Coal ETF (NYSE: KOL) is now up more than 9 percent from around 3pm ET yesterday, at which time stocks bounced sharply. James River shares surged 16 percent yesterday. The stock was down 30 percent over the prior five trading sessions.
Corinthian Colleges (Nasdaq: COCO) 12.5% HIGHER; education stocks are bouncing today, possibly on the back of a Credit Suisse upgrade of Apollo (Nasdaq: APOL).
Miller Energy Resources (NYSE: MILL) 11.9% LOWER; correcting today following a massive 25 percent rally over just the last ten minutes of trading yesterday.
Acme Packet (Nasdaq: APKT) 11.8% LOWER; offers preliminary Q3 results: adj-EPS of 20-22 cents, vs. the consensus estimate of 29 cents, sales about $70 million, which compares to the Street estimate of $82.9 million. Reaffirms its FY11 guidance. The stock was upgraded at Wedbush this morning.
Alphatec (Nasdaq: ATEC) 8.8% HIGHER; reports resolution of a recent FDA warning letter. The letter was related to the company's Carlsbad, CA facility.
BioCryst Pharmaceuticals, Inc. (Nasdaq: BCRX) 8.4% HIGHER; reports positive top-line results from its Phase 2b randomized, double-blind, dose-response study of BCX4208 in gout patients who had failed to reach the clinically important serum uric acid (sUA) goal of <6 mg/dL on allopurinol alone. Detailed study findings will be shared at an upcoming medical meeting.
Satcon Technology Corp. (Nasdaq: SATC) 7.3% HIGHER; has been selected by Q-Cells North America to supply an additional 40 megawatts (MW) of their Prism Platform solutions for the Starwood project in Sault St Marie, Ontario.
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