Unusual 11 Mid-Day Movers 10/05: (CAST) (STP) (MHR) Higher; (HIL) (MILL) (LUFK) Lower
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Chinacast Education (Nasdaq: CAST) 21.5% HIGHER; shares fell 30 percent on Monday and another 4 percent yesterday amid rumors an auditor raised concerns about the company's financial statements. Yesterday Chinacast issued a release saying auditors have raised no concerns.
Suntech (NYSE: STP) 19% 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.
Magnum Hunter Resources Corporation (NYSE: MHR) 17.8% HIGHER; announced today that its wholly-owned subsidiaries, Eureka Hunter Pipeline, LLC and Triad Hunter, LLC, have entered into definitive services agreements with MarkWest Liberty Midstream & Resources, L.L.C., a partnership between MarkWest Energy Partners, L.P. (NYSE: MWE) and The Energy & Minerals Group. The Agreements provide for long-term midstream processing and related services in the liquids-rich Marcellus Shale.
Orexigen (Nasdaq: OREX) 15.6% HIGHER; stock bouncing over the $2 level today. The company's contrave was tied to a 3-fold reduction in CV risk in a recent study.
Hill International (NYSE: HIL) 14.9% LOWER; some profit taking today as the stock surged more than 16 percent in just the last 10 minutes of trade yesterday.
Corinthian Colleges (Nasdaq: COCO) 14.7% HIGHER; education stocks are bouncing today, possibly on the back of a Credit Suisse upgrade of Apollo (Nasdaq: APOL).
James River Coal (Nasdaq: JRCC) 14.4% 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.
Miller Energy Resources (NYSE: MILL) 13.5% LOWER; correcting today following a massive 25 percent rally over just the last ten minutes of trading yesterday.
Lufkin (Nasdaq: LUFK) 13.1% LOWER; offers preliminary Q3 results: sales $225 to $235 million, down from prior guidance of $230 to $250 million and compared to the Street estimate of $242.52 million. Lufkin sees EPS of 55 to 60 cents, down from a prior 72 to 82 cent range and compared to the analyst consensus of 77 cents. Lufkin also sees Q4 sales of $240 to $260 million, which compares to the Street estimate of $255.22 million. EPS expected to be 70 to 80 cents, versus the consensus of 91 cents. The company had previously expected Q4 EPS of 85 to 95 cents.
Lexicon Pharma (Nasdaq: LXRX) 11.6% LOWER; a number of stocks had a very funny end to yesterday's session given the broad-based late-day surge at the close. Lexicon shares surged 22 percent over the last 12 minutes of trade.
MELA Sciences, Inc. (Nasdaq: MELA) 11.3% LOWER; MELA correcting after making an impressive 28 percent gain Tuesday. Shares are holding above the $5 level this afternoon.
To get this report daily visit http://www.streetinsider.com/entities/Unusual+11+Mid-Day+Movers.
Suntech (NYSE: STP) 19% 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.
Magnum Hunter Resources Corporation (NYSE: MHR) 17.8% HIGHER; announced today that its wholly-owned subsidiaries, Eureka Hunter Pipeline, LLC and Triad Hunter, LLC, have entered into definitive services agreements with MarkWest Liberty Midstream & Resources, L.L.C., a partnership between MarkWest Energy Partners, L.P. (NYSE: MWE) and The Energy & Minerals Group. The Agreements provide for long-term midstream processing and related services in the liquids-rich Marcellus Shale.
Orexigen (Nasdaq: OREX) 15.6% HIGHER; stock bouncing over the $2 level today. The company's contrave was tied to a 3-fold reduction in CV risk in a recent study.
Hill International (NYSE: HIL) 14.9% LOWER; some profit taking today as the stock surged more than 16 percent in just the last 10 minutes of trade yesterday.
Corinthian Colleges (Nasdaq: COCO) 14.7% HIGHER; education stocks are bouncing today, possibly on the back of a Credit Suisse upgrade of Apollo (Nasdaq: APOL).
James River Coal (Nasdaq: JRCC) 14.4% 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.
Miller Energy Resources (NYSE: MILL) 13.5% LOWER; correcting today following a massive 25 percent rally over just the last ten minutes of trading yesterday.
Lufkin (Nasdaq: LUFK) 13.1% LOWER; offers preliminary Q3 results: sales $225 to $235 million, down from prior guidance of $230 to $250 million and compared to the Street estimate of $242.52 million. Lufkin sees EPS of 55 to 60 cents, down from a prior 72 to 82 cent range and compared to the analyst consensus of 77 cents. Lufkin also sees Q4 sales of $240 to $260 million, which compares to the Street estimate of $255.22 million. EPS expected to be 70 to 80 cents, versus the consensus of 91 cents. The company had previously expected Q4 EPS of 85 to 95 cents.
Lexicon Pharma (Nasdaq: LXRX) 11.6% LOWER; a number of stocks had a very funny end to yesterday's session given the broad-based late-day surge at the close. Lexicon shares surged 22 percent over the last 12 minutes of trade.
MELA Sciences, Inc. (Nasdaq: MELA) 11.3% LOWER; MELA correcting after making an impressive 28 percent gain Tuesday. Shares are holding above the $5 level this afternoon.
To get this report daily visit http://www.streetinsider.com/entities/Unusual+11+Mid-Day+Movers.
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