Unusual 11 Mid-Day Movers 04/09: (AOL) (IBIO) (CALL) Higher; (MOH) (ITMN) (CNC) Lower
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AOL (NYSE: AOL) 47% HIGHER; the company agreed to a $1.056 billion patent deal with Microsoft (Nasdaq: MSFT). Under the agreement, AOL will sell over 800 patents and the related applications to Microsoft and also grant Microsoft a non-exclusive license to its retained patent portfolio.
Molina Healthcare (NYSE: MOH) 24.9% LOWER; a state contract for some 1.5 million patients of Ohio's Medicaid program won't be renewed. The stock was also downgraded at Cantor Fitzgerald and Susquehanna.
iBio, Inc. (AMEX: IBIO) 21.9% HIGHER; continuing to breakout following a 9.5 percent move higher on Thursday of last week. A SeekingAlpha article entitled "iBio Incorporated: Speculative Long-Term Investment With Short-Term Catalyst" may be adding to momentum today.
InterMune Inc. (Nasdaq: ITMN) 17.0% LOWER; RBC Capital's Michael Yee downgraded shares of InterMune from Outperform to Sector Perform Monday morning. Yee reduced his price target from $23 to $17.
Centene (NYSE: CNC) 14.6% LOWER; trading down amid news of Molina's contract loss. The stock was downgraded at Susquehanna.
ClickSoftware (Nasdaq: CKSW) 13.4% LOWER; announces preliminary Q1 sales of $21.6 million, which compares to the Street estimate of $23.4 million. The company cited "seasonal Q1 softness." Still sees FY12 sales of $100-$105 million, which compares to the Street estimate of $102.9 million.
magicJack (Nasdaq: CALL) 13% HIGHER; sees Q1 adj-EPS of about 26 cents on sales of about $37.4 million. The Street is currently expecting Q1 EPS of 13 cents on sales of $35.67 million.
Great Wolf Resorts, Inc. (Nasdaq: WOLF) 12.9% HIGHER; has received an unsolicited letter from KSL Capital Partners proposing to acquire Great Wolf for $7.00 per share in cash, subject to certain conditions, including due diligence and certain conditions related to debt waivers. Apollo (NYSE: APO) recently increased its offer to $6.75 per share.
JMP Securities downgraded Mitek Systems (NASDAQ: MITK) 10.6% LOWER; from Outperform to Market Perform.
Randgold Resources Ltd. (Nasdaq: GOLD) 10% HIGHER; Stifel Nicolaus upgraded the stock from Hold to Buy with a price target of $110.00.
E-Commerce China Dangdang Inc. (NYSE: DANG) 13.5% HIGHER; making a strong move above $10 Monday following a 20 percent rise last week. Shares bounced off the 200-day SMA early this morning.
To get this report daily visit http://www.streetinsider.com/entities/Unusual+11+Mid-Day+Movers.
Molina Healthcare (NYSE: MOH) 24.9% LOWER; a state contract for some 1.5 million patients of Ohio's Medicaid program won't be renewed. The stock was also downgraded at Cantor Fitzgerald and Susquehanna.
iBio, Inc. (AMEX: IBIO) 21.9% HIGHER; continuing to breakout following a 9.5 percent move higher on Thursday of last week. A SeekingAlpha article entitled "iBio Incorporated: Speculative Long-Term Investment With Short-Term Catalyst" may be adding to momentum today.
InterMune Inc. (Nasdaq: ITMN) 17.0% LOWER; RBC Capital's Michael Yee downgraded shares of InterMune from Outperform to Sector Perform Monday morning. Yee reduced his price target from $23 to $17.
Centene (NYSE: CNC) 14.6% LOWER; trading down amid news of Molina's contract loss. The stock was downgraded at Susquehanna.
ClickSoftware (Nasdaq: CKSW) 13.4% LOWER; announces preliminary Q1 sales of $21.6 million, which compares to the Street estimate of $23.4 million. The company cited "seasonal Q1 softness." Still sees FY12 sales of $100-$105 million, which compares to the Street estimate of $102.9 million.
magicJack (Nasdaq: CALL) 13% HIGHER; sees Q1 adj-EPS of about 26 cents on sales of about $37.4 million. The Street is currently expecting Q1 EPS of 13 cents on sales of $35.67 million.
Great Wolf Resorts, Inc. (Nasdaq: WOLF) 12.9% HIGHER; has received an unsolicited letter from KSL Capital Partners proposing to acquire Great Wolf for $7.00 per share in cash, subject to certain conditions, including due diligence and certain conditions related to debt waivers. Apollo (NYSE: APO) recently increased its offer to $6.75 per share.
JMP Securities downgraded Mitek Systems (NASDAQ: MITK) 10.6% LOWER; from Outperform to Market Perform.
Randgold Resources Ltd. (Nasdaq: GOLD) 10% HIGHER; Stifel Nicolaus upgraded the stock from Hold to Buy with a price target of $110.00.
E-Commerce China Dangdang Inc. (NYSE: DANG) 13.5% HIGHER; making a strong move above $10 Monday following a 20 percent rise last week. Shares bounced off the 200-day SMA early this morning.
To get this report daily visit http://www.streetinsider.com/entities/Unusual+11+Mid-Day+Movers.
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