Unusual 11 Mid-Day Movers 10/06: (XG) (SOL) (QRM) Higher; (GLGL) (WTSLA) (NPTN) Lower
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GLG Life Tech Corporation (Nasdaq: GLGL) 39.2% LOWER; provides a business update on its AN0C consumer products business in China and global stevia business. Sees stevia revs lower in the third-quarter, won't recognize new stevia revs until fourth quarter. GLG provided a new launch schedule. In early September, AN0C received complaints from a few of its distributors regarding product packaging and product appearance quality of the RTD tea products being shipped to them. AN0C's investigation found that two of its main OEM Partner's bottling plants were responsible for these production issues. Through AN0C and its OEM Bottler's review in mid-September, it was determined that the potential batches comprised approximately 200,000 cases of RTD tea that had been shipped and represented the maximum size of the potential product issue.
Extorre Gold Mines Ltd. Ordinar (AMEX: XG) 20.8% HIGHER; moving higher as gold continues to rebound.
ReneSola Ltd. (NYSE: SOL) 18.3% HIGHER; ReneSola probably moving on First Solar, Inc. (Nasdaq: FSLR) takeover rumors.
Eastman Kodak Co. (EK) 15.6% HIGHER; continuing to bounce higher following the initial bankruptcy selloff late last week. At $1.43 per share, Eastman still has about 18 percent to go before reaching levels before the rumor started last Friday.
Melco Crown (Nasdaq: MPEL) 14.5% HIGHER; Casino & Gaming sector performing very strong today following recent downside. The stock had fallen by nearly 38 percent over the last two weeks before bouncing on Tuesday.
The Wet Seal, Inc. (Nasdaq: WTSLA) 13.8% LOWER; reports total sales for the month of September were $53.6 million, up 4.8 percent from the same period last year. Same-store sales fell 0.3 percent.
Echo Therapeutics, Inc. (Nasdaq: ECTE), 13.5% HIGHER; reports positive results from its clinical study of its Symphony tCGM System. Data from the study confirm that Symphony successfully monitors patient glucose levels and continues to demonstrate improvements in clinical performance. Echo plans to conduct a study in patients with diabetes during the fourth quarter, followed by a study in critical care patients shortly thereafter.
Quest Rare Minerals Ltd Common (AMEX: QRM) 13.4% HIGHER; rare earths may be making a move higher on reports China thinks rare earth prices will remain at elevated levels amid tighter restrictions in the country, and North American companies will stand to benefit.
NeoPhotonics Corporation (NYSE: NPTN) 12.6% LOWER; reports preliminary revenue estimate for the third quarter is in the range of $43 to $45 million. The Street sees $50.94 million. On August 4, 2011, the company provided its projections for the third quarter ending September 30, 2011, for revenue of $48 to $53 million. The revised estimate for the third quarter reflects lower than expected revenue from the company’s largest customer.
Helen Of Troy (Nasdaq: HELE) 9.8% LOWER; reported Q2 EPS of $0.74, 13 cents worse than the analyst estimate of $0.87. Revenue for the quarter came in at $277.4 million versus the consensus estimate of $288.8 million. Reaffirms outlook.
Richardson Electronics Ltd (Nasdaq: RELL) 5.1% LOWER; reported Q1 EPS of $0.06, 3 cents worse than the analyst estimate of $0.09. Revenue for the quarter came in at $41.5 million versus the consensus estimate of $41.47 million. Sees FY2012 revenue of $170-$175 million, versus the consensus of $172.40 million.
To get this report daily visit http://www.streetinsider.com/entities/Unusual+11+Mid-Day+Movers.
Extorre Gold Mines Ltd. Ordinar (AMEX: XG) 20.8% HIGHER; moving higher as gold continues to rebound.
ReneSola Ltd. (NYSE: SOL) 18.3% HIGHER; ReneSola probably moving on First Solar, Inc. (Nasdaq: FSLR) takeover rumors.
Eastman Kodak Co. (EK) 15.6% HIGHER; continuing to bounce higher following the initial bankruptcy selloff late last week. At $1.43 per share, Eastman still has about 18 percent to go before reaching levels before the rumor started last Friday.
Melco Crown (Nasdaq: MPEL) 14.5% HIGHER; Casino & Gaming sector performing very strong today following recent downside. The stock had fallen by nearly 38 percent over the last two weeks before bouncing on Tuesday.
The Wet Seal, Inc. (Nasdaq: WTSLA) 13.8% LOWER; reports total sales for the month of September were $53.6 million, up 4.8 percent from the same period last year. Same-store sales fell 0.3 percent.
Echo Therapeutics, Inc. (Nasdaq: ECTE), 13.5% HIGHER; reports positive results from its clinical study of its Symphony tCGM System. Data from the study confirm that Symphony successfully monitors patient glucose levels and continues to demonstrate improvements in clinical performance. Echo plans to conduct a study in patients with diabetes during the fourth quarter, followed by a study in critical care patients shortly thereafter.
Quest Rare Minerals Ltd Common (AMEX: QRM) 13.4% HIGHER; rare earths may be making a move higher on reports China thinks rare earth prices will remain at elevated levels amid tighter restrictions in the country, and North American companies will stand to benefit.
NeoPhotonics Corporation (NYSE: NPTN) 12.6% LOWER; reports preliminary revenue estimate for the third quarter is in the range of $43 to $45 million. The Street sees $50.94 million. On August 4, 2011, the company provided its projections for the third quarter ending September 30, 2011, for revenue of $48 to $53 million. The revised estimate for the third quarter reflects lower than expected revenue from the company’s largest customer.
Helen Of Troy (Nasdaq: HELE) 9.8% LOWER; reported Q2 EPS of $0.74, 13 cents worse than the analyst estimate of $0.87. Revenue for the quarter came in at $277.4 million versus the consensus estimate of $288.8 million. Reaffirms outlook.
Richardson Electronics Ltd (Nasdaq: RELL) 5.1% LOWER; reported Q1 EPS of $0.06, 3 cents worse than the analyst estimate of $0.09. Revenue for the quarter came in at $41.5 million versus the consensus estimate of $41.47 million. Sees FY2012 revenue of $170-$175 million, versus the consensus of $172.40 million.
To get this report daily visit http://www.streetinsider.com/entities/Unusual+11+Mid-Day+Movers.
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