Morning Movers 12/14: (TSON) (AMR) (AVP) Higher; (SQNS) (FSLR) (HDY) (SPRD) Lower
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Sequans (Nasdaq: SQNS) 30.7% LOWER; cut its Q4 guidance saying its largest customer reduced quarterly shipments. Click here to see the full report.
TranS1 Inc. (Nasdaq: TSON) 29.2% HIGHER; announced that Palmetto GBA, a Medicare Administrative Contractor, has removed its Non-Coverage policy for AxiaLIF effective January 1, 2012. Click here to see the full report.
First Solar, Inc. (NASDAQ: FSLR) 19.8% LOWER; cut its FY11 sales guidance from $3-$3.3 billion to $2.8-$2.9 billion and its EPS outlook from $6.50-$7.50 to $5.75-$6.00. The Street is currently looking for FY11 sales and EPS of $3.2 billion and $6.88, respectively. First Solar expects FY12 sales in the range of $3.7-$4 billion, which compares to the Street estimate of $4.09 billion, and EPS of $3.75-$4.25, vs. the analyst estimate of $7.42. The company's release cited "continued delays of certain projects in First Solar’s systems business due to weather and other factors."
Hyperdynamics (NYSE: HDY) 18% LOWER; after breaking below the 200-day SMA yesterday, shares plunged nearly 11 percent. The stock is continuing lower today on heavy volume.
Spreadtrum (Nasdaq: SPRD) 12.2% LOWER; shares cracking support around $20 after failing to hold above the 200-day yesterday.
SGI’s (Nasdaq: SGI) 11.6% LOWER; Board of Directors today announced that Mark J. Barrenechea has tendered his resignation as president, chief executive officer and member of the Board of Directors, effective January 1, 2012. Ronald D. Verdoorn, chairman of the Board of Directors, will serve as interim CEO while the board conducts a search for a new CEO. Mr. Barrenechea will join a global enterprise software company as President and CEO.
Trina Solar (NYSE: TSL) 10.8% LOWER; likely trading lower on the heels of First Solar guidance.
Cheniere Energy, Inc. (Amex: LNG) 10.2% LOWER; announced the pricing of its previously announced offering of 36,300,000 shares of its common stock at a price per share of $8.35. The underwriter will have a 30-day option to purchase up to an aggregate of 5,445,000 additional common shares from Cheniere to cover any over-allotments
Green Mountain (Nasdaq: GMCR) 9.9% LOWER; under pressure again early Wednesday following a negative note from analysts at Stifel Nicolaus discussing declining brewer shipments. Click here to see the note.
RADVISION (Nasdaq: RVSN) 9.6% LOWER; traders taking profits today following a 31 percent rise so far this week on the heels of chatter Avaya could make an offer.
AMR Corp. (NYSE: AMR) 9.1% HIGHER; continuing higher today over the $0.60 level. Shares were up nearly 9 percent yesterday and sold off by about 13.5 percent on Monday.
Avon Products, Inc. (NYSE: AVP) 8.5% HIGHER; reports that in 2012 the company will separate the roles of Chairman and Chief Executive Officer. The company said that Andrea Jung, Avon's Chairman and CEO, will be named Executive Chairman, and that a committee of the Board of Directors will work with Ms. Jung to undertake an external search for a Chief Executive Officer. Ms. Jung will continue to serve in her dual roles throughout the recruitment process and will work closely with the new CEO to assure a successful transition.
China Shen Zhou Mining & Resources, Inc. (AMEX: SHZ) 8.5% HIGHER; announced that Xiangzhen Mining Co., Ltd. has reported record fluorite sales for the fourth quarter of 2011. China Shen Zhou's Xiangzhen subsidiary expected the fourth quarter sales volume of fluorite powder to approximate 27,000 metric tons, up 217% from the 8,527 metric tons sold in the third quarter of 2011, and 33% higher than the 20,247 metric tons sold in the same period last year. The sales volume of fluorite lump was expected to approximate 23,000 metric tons in the fourth quarter of 2011, up 34% from the 17,135 metric tons sold in the previous quarter, and 85% higher than the 12,451 metric tons sold in the same period last year. Total sales of fluorite powder and fluorite lump for the first nine months of 2011 were 25,286.75 metric tons and 28,299.41 metric tons respectively.
TranS1 Inc. (Nasdaq: TSON) 29.2% HIGHER; announced that Palmetto GBA, a Medicare Administrative Contractor, has removed its Non-Coverage policy for AxiaLIF effective January 1, 2012. Click here to see the full report.
First Solar, Inc. (NASDAQ: FSLR) 19.8% LOWER; cut its FY11 sales guidance from $3-$3.3 billion to $2.8-$2.9 billion and its EPS outlook from $6.50-$7.50 to $5.75-$6.00. The Street is currently looking for FY11 sales and EPS of $3.2 billion and $6.88, respectively. First Solar expects FY12 sales in the range of $3.7-$4 billion, which compares to the Street estimate of $4.09 billion, and EPS of $3.75-$4.25, vs. the analyst estimate of $7.42. The company's release cited "continued delays of certain projects in First Solar’s systems business due to weather and other factors."
Hyperdynamics (NYSE: HDY) 18% LOWER; after breaking below the 200-day SMA yesterday, shares plunged nearly 11 percent. The stock is continuing lower today on heavy volume.
Spreadtrum (Nasdaq: SPRD) 12.2% LOWER; shares cracking support around $20 after failing to hold above the 200-day yesterday.
SGI’s (Nasdaq: SGI) 11.6% LOWER; Board of Directors today announced that Mark J. Barrenechea has tendered his resignation as president, chief executive officer and member of the Board of Directors, effective January 1, 2012. Ronald D. Verdoorn, chairman of the Board of Directors, will serve as interim CEO while the board conducts a search for a new CEO. Mr. Barrenechea will join a global enterprise software company as President and CEO.
Trina Solar (NYSE: TSL) 10.8% LOWER; likely trading lower on the heels of First Solar guidance.
Cheniere Energy, Inc. (Amex: LNG) 10.2% LOWER; announced the pricing of its previously announced offering of 36,300,000 shares of its common stock at a price per share of $8.35. The underwriter will have a 30-day option to purchase up to an aggregate of 5,445,000 additional common shares from Cheniere to cover any over-allotments
Green Mountain (Nasdaq: GMCR) 9.9% LOWER; under pressure again early Wednesday following a negative note from analysts at Stifel Nicolaus discussing declining brewer shipments. Click here to see the note.
RADVISION (Nasdaq: RVSN) 9.6% LOWER; traders taking profits today following a 31 percent rise so far this week on the heels of chatter Avaya could make an offer.
AMR Corp. (NYSE: AMR) 9.1% HIGHER; continuing higher today over the $0.60 level. Shares were up nearly 9 percent yesterday and sold off by about 13.5 percent on Monday.
Avon Products, Inc. (NYSE: AVP) 8.5% HIGHER; reports that in 2012 the company will separate the roles of Chairman and Chief Executive Officer. The company said that Andrea Jung, Avon's Chairman and CEO, will be named Executive Chairman, and that a committee of the Board of Directors will work with Ms. Jung to undertake an external search for a Chief Executive Officer. Ms. Jung will continue to serve in her dual roles throughout the recruitment process and will work closely with the new CEO to assure a successful transition.
China Shen Zhou Mining & Resources, Inc. (AMEX: SHZ) 8.5% HIGHER; announced that Xiangzhen Mining Co., Ltd. has reported record fluorite sales for the fourth quarter of 2011. China Shen Zhou's Xiangzhen subsidiary expected the fourth quarter sales volume of fluorite powder to approximate 27,000 metric tons, up 217% from the 8,527 metric tons sold in the third quarter of 2011, and 33% higher than the 20,247 metric tons sold in the same period last year. The sales volume of fluorite lump was expected to approximate 23,000 metric tons in the fourth quarter of 2011, up 34% from the 17,135 metric tons sold in the previous quarter, and 85% higher than the 12,451 metric tons sold in the same period last year. Total sales of fluorite powder and fluorite lump for the first nine months of 2011 were 25,286.75 metric tons and 28,299.41 metric tons respectively.
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