Morning Movers 11/07: (ADPI) (FRPT) (SHZ) (TSTC) Higher; (CRNT) (TESO) (OVTI) Lower
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American Dental Partners, Inc. (Nasdaq: ADPI) 79.2% HIGHER; entered into a definitive agreement to be acquired private equity firm JLL Partners, Inc. for $19.00 per share, or an 83% premium to Friday's close. The transaction is valued at approximately $398 million, including $81 million in currently outstanding debt.
Force Protection (Nasdaq: FRPT) 30.3% HIGHER; the company and General Dynamics (NYSE: GD) have agreed to terms of an acquisition at $5.52/share in common stock, or about $360 million.
China Shen Zhou Mining & Resources (AMEX: SHZ) 24.2% HIGHER; breaking above resistance at $2 for the first time since mid-September. Volume is very heavy today.
Ceragon Networks Ltd (NASDAQ: CRNT) 17.3% LOWER; reported Q3 EPS of $0.02, $0.01 better than the analyst estimate of $0.01. Revenue for the quarter came in at $116.1 million versus the consensus estimate of $114.49 million.
Tesco Corp (NASDAQ: TESO) 14.6% LOWER; reported Q3 EPS of $0.10, $0.13 worse than the analyst estimate of $0.23. Revenue for the quarter came in at $127 million versus the consensus estimate of $130.23 million.
Telestone Tech (Nasdaq: TSTC) 13.9% HIGHER; since breaking above $5 at the end of last month, the stock is now up about 84 percent.
OmniVision (Nasdaq: OVTI) 13.6% LOWER; announces a $100 million buyback program. Lowers its Q2 sales guidance from $255-$275 million to $212-$217 million, which compares to the Street estimate of $259.3 million.
Houston Wire & Cable Company (NASDAQ: HWCC) 12.8% LOWER; reported Q3 EPS of $0.28, $0.03 worse than the analyst estimate of $0.31. Revenue for the quarter came in at $105.8 million versus the consensus estimate of $107.53 million.
MELA Sciences (Nasdaq: MELA) 12.7% HIGHER; traders buying the dip this morning following a 13 percent decline on Friday as traders took profits following the FDA approval of its MelaFind device. Also adding to upside this morning, the stock was highlighted as potentially rising to $20 per share by a Barron's trader over the weekend.
Hansen Medical, Inc. (NASDAQ: HNSN) 12.4% HIGHER; today announced that it has entered into a stock purchase agreement to raise approximately $10 million for the sale of common stock at a price of $2.09 per share in a private placement transaction with existing shareholders, Oracle Partners, L.P., and Mr. Jack W. Schuler.
Tekelec (NASDAQ: TKLC) 11.3% HIGHER; announced an agreement to be acquired by a consortium led by Siris Capital Group, LLC for $11.00 per share in cash, or an 11% premium to Friday's close. The total transaction is valued at approximately $780 million. Reported Q3 EPS of $0.19, $0.13 better than the analyst estimate of $0.06. Revenue for the quarter came in at $106.2 million versus the consensus estimate of $92.56 million. Sees FY2011 EPS of $0.36-$0.43, versus the consensus of $0.41, and revenue of $395-$410 million, versus the consensus of $398.58 million.
Diamond Foods (Nasdaq: DMND) 9.6% LOWER; since announcing early last week the closing of its deal with Pringles will not be til the first half of 2012 (later than previously expected), the stock has tumbled nearly 40 percent.
Force Protection (Nasdaq: FRPT) 30.3% HIGHER; the company and General Dynamics (NYSE: GD) have agreed to terms of an acquisition at $5.52/share in common stock, or about $360 million.
China Shen Zhou Mining & Resources (AMEX: SHZ) 24.2% HIGHER; breaking above resistance at $2 for the first time since mid-September. Volume is very heavy today.
Ceragon Networks Ltd (NASDAQ: CRNT) 17.3% LOWER; reported Q3 EPS of $0.02, $0.01 better than the analyst estimate of $0.01. Revenue for the quarter came in at $116.1 million versus the consensus estimate of $114.49 million.
Tesco Corp (NASDAQ: TESO) 14.6% LOWER; reported Q3 EPS of $0.10, $0.13 worse than the analyst estimate of $0.23. Revenue for the quarter came in at $127 million versus the consensus estimate of $130.23 million.
Telestone Tech (Nasdaq: TSTC) 13.9% HIGHER; since breaking above $5 at the end of last month, the stock is now up about 84 percent.
OmniVision (Nasdaq: OVTI) 13.6% LOWER; announces a $100 million buyback program. Lowers its Q2 sales guidance from $255-$275 million to $212-$217 million, which compares to the Street estimate of $259.3 million.
Houston Wire & Cable Company (NASDAQ: HWCC) 12.8% LOWER; reported Q3 EPS of $0.28, $0.03 worse than the analyst estimate of $0.31. Revenue for the quarter came in at $105.8 million versus the consensus estimate of $107.53 million.
MELA Sciences (Nasdaq: MELA) 12.7% HIGHER; traders buying the dip this morning following a 13 percent decline on Friday as traders took profits following the FDA approval of its MelaFind device. Also adding to upside this morning, the stock was highlighted as potentially rising to $20 per share by a Barron's trader over the weekend.
Hansen Medical, Inc. (NASDAQ: HNSN) 12.4% HIGHER; today announced that it has entered into a stock purchase agreement to raise approximately $10 million for the sale of common stock at a price of $2.09 per share in a private placement transaction with existing shareholders, Oracle Partners, L.P., and Mr. Jack W. Schuler.
Tekelec (NASDAQ: TKLC) 11.3% HIGHER; announced an agreement to be acquired by a consortium led by Siris Capital Group, LLC for $11.00 per share in cash, or an 11% premium to Friday's close. The total transaction is valued at approximately $780 million. Reported Q3 EPS of $0.19, $0.13 better than the analyst estimate of $0.06. Revenue for the quarter came in at $106.2 million versus the consensus estimate of $92.56 million. Sees FY2011 EPS of $0.36-$0.43, versus the consensus of $0.41, and revenue of $395-$410 million, versus the consensus of $398.58 million.
Diamond Foods (Nasdaq: DMND) 9.6% LOWER; since announcing early last week the closing of its deal with Pringles will not be til the first half of 2012 (later than previously expected), the stock has tumbled nearly 40 percent.
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