Unusual 11 Mid-Day Movers 10/19: (USAT) (IBIO) (TKLC) Higher; (PWAV) (CKP) (CWTR) Lower
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Powerwave (Nasdaq: PWAV) 46.3% LOWER; sees Q3 sales of $75 to $79 million, vs. the consensus of $168.4 million. Cites significant slowdown in North America.
USA Technologies, Inc. (Nasdaq: USAT) 26.1% HIGHER; today issued the following additional information regarding the resignation of Chairman and CEO George Jensen on October 14, 2011. Late last month, the Audit Committee of the Company’s Board of Directors was contacted with information suggesting that Mr. Jensen had been posting information about the Company on an online investor forum. Kroll, Inc., the world’s leading risk consulting company, was engaged in order to assist with the investigation. The investigation determined that Mr. Jensen had posted approximately 450 comments on the Yahoo message board primarily under the alias ‘investor.texas’ over a period of approximately two months. In reviewing the various posts, the Board determined that they were inappropriate. Mr. Jensen acknowledged making these postings.
Checkpoint Systems (NYSE: CKP) 22.9% LOWER; announces restructuring plan which will reduced the company's headcount by about 1,000 employees. The expanded plan will add about $54 million to costs. Checkpoint sees Q3 adjusted EPS of 28 cents on sales of $218 million. The Street is currently looking for Q3 EPS of 49 cents on sales of $244.6 million. The company also sees FY11 adjusted EPS of 32 to 43 cents, which compares to the consensus estimate of $1.27 cents. Sees sales of $860 to $880 million, vs. the consensus of $927.6 million.
Coldwater Creek (Nasdaq: CWTR) 20.2% LOWER; prices 26.5 million shares at $0.85 per share
iBio (AMEX: IBIO) 18.8% HIGHER; stock seems to be breaking out above resistance around $1.50 today. With about two hours left in the trading session, about 121,000 shares have already changed hands, compared to the stock's average daily volume of just 36,000 shares.
Agnico-Eagle Mines Limited (NYSE: AEM) 18.5% LOWER; announced today that it is suspending mining operations and gold production at its Goldex mine in Val d'Or, Quebec effective immediately. This decision follows the receipt of an opinion from a second rock mechanics consulting firm which recommended that underground mining operations be halted until the situation is investigated further. The stock was also downgraded at Credit Suisse this morning.
Tekelec (Nasdaq: TKLC) 18% HIGHER; offers preliminary Q3 sales of $103 to $106 million, versus the consensus of $92.56 million, and adjusted EPS of 16 to 20 cents, which compares to the Street estimate of 6 cents.
Jaguar Mining Inc. (NYSE: JAG) 17.9% LOWER; reports it set a new quarterly record of 41,390 ounces of gold sold during the quarter. Combined with strong gold prices, averaging $1,692 per ounce, the Company also achieved a record $70.0 million in total revenue. Jaguar's combined mine output for the third quarter 2011 totaled approximately 463,000 tonnes, yielding 40,660 recovered gold ounces. Preliminary cash operating costs for the quarter were estimated at $886 per ounce (subject to final end of quarter adjustments) compared to $799 per ounce in the second quarter 2011. The vast majority of the cash cost increase is attributable to higher labor expense.
BioMimetic Therapeutics (Nasdaq: BMTI) 15.0% HIGHER; receives approval to commercialize Augment Bone Graft in Australia.
Human Genome Sciences (Nasdaq: HGSI) 14.2% HIGHER; stock continuing higher today following a 14 percent move higher yesterday amid takeover speculation.
Zale Corp (NYSE: ZLC) 12.4% HIGHER; BofA/Merrill Lynch upgraded the stock from Neutral to Buy.
To get this report daily visit http://www.streetinsider.com/entities/Unusual+11+Mid-Day+Movers.
USA Technologies, Inc. (Nasdaq: USAT) 26.1% HIGHER; today issued the following additional information regarding the resignation of Chairman and CEO George Jensen on October 14, 2011. Late last month, the Audit Committee of the Company’s Board of Directors was contacted with information suggesting that Mr. Jensen had been posting information about the Company on an online investor forum. Kroll, Inc., the world’s leading risk consulting company, was engaged in order to assist with the investigation. The investigation determined that Mr. Jensen had posted approximately 450 comments on the Yahoo message board primarily under the alias ‘investor.texas’ over a period of approximately two months. In reviewing the various posts, the Board determined that they were inappropriate. Mr. Jensen acknowledged making these postings.
Checkpoint Systems (NYSE: CKP) 22.9% LOWER; announces restructuring plan which will reduced the company's headcount by about 1,000 employees. The expanded plan will add about $54 million to costs. Checkpoint sees Q3 adjusted EPS of 28 cents on sales of $218 million. The Street is currently looking for Q3 EPS of 49 cents on sales of $244.6 million. The company also sees FY11 adjusted EPS of 32 to 43 cents, which compares to the consensus estimate of $1.27 cents. Sees sales of $860 to $880 million, vs. the consensus of $927.6 million.
Coldwater Creek (Nasdaq: CWTR) 20.2% LOWER; prices 26.5 million shares at $0.85 per share
iBio (AMEX: IBIO) 18.8% HIGHER; stock seems to be breaking out above resistance around $1.50 today. With about two hours left in the trading session, about 121,000 shares have already changed hands, compared to the stock's average daily volume of just 36,000 shares.
Agnico-Eagle Mines Limited (NYSE: AEM) 18.5% LOWER; announced today that it is suspending mining operations and gold production at its Goldex mine in Val d'Or, Quebec effective immediately. This decision follows the receipt of an opinion from a second rock mechanics consulting firm which recommended that underground mining operations be halted until the situation is investigated further. The stock was also downgraded at Credit Suisse this morning.
Tekelec (Nasdaq: TKLC) 18% HIGHER; offers preliminary Q3 sales of $103 to $106 million, versus the consensus of $92.56 million, and adjusted EPS of 16 to 20 cents, which compares to the Street estimate of 6 cents.
Jaguar Mining Inc. (NYSE: JAG) 17.9% LOWER; reports it set a new quarterly record of 41,390 ounces of gold sold during the quarter. Combined with strong gold prices, averaging $1,692 per ounce, the Company also achieved a record $70.0 million in total revenue. Jaguar's combined mine output for the third quarter 2011 totaled approximately 463,000 tonnes, yielding 40,660 recovered gold ounces. Preliminary cash operating costs for the quarter were estimated at $886 per ounce (subject to final end of quarter adjustments) compared to $799 per ounce in the second quarter 2011. The vast majority of the cash cost increase is attributable to higher labor expense.
BioMimetic Therapeutics (Nasdaq: BMTI) 15.0% HIGHER; receives approval to commercialize Augment Bone Graft in Australia.
Human Genome Sciences (Nasdaq: HGSI) 14.2% HIGHER; stock continuing higher today following a 14 percent move higher yesterday amid takeover speculation.
Zale Corp (NYSE: ZLC) 12.4% HIGHER; BofA/Merrill Lynch upgraded the stock from Neutral to Buy.
To get this report daily visit http://www.streetinsider.com/entities/Unusual+11+Mid-Day+Movers.
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