Morning Movers 05/17: (MEG) (GALE) (VELT) Higher; (WFR) (AAP) (DANG) (VNET) Lower
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Media General, Inc. (NYSE: MEG) 41.4% HIGHER; today announced that it has signed agreements with Berkshire Hathaway, Inc., (NYSE: BRK.A) (NYSE: BRK.B) for the purchase of newspapers and new financing. A subsidiary of Berkshire Hathaway, BH Media Group, will purchase all of the newspapers owned by Media General, with the exception of the Tampa group, for $142 million in cash. Media General said it is in discussions with other prospective buyers for its Tampa print assets.
MEMC Electronic Materials, Inc. (NYSE: WFR) 20% LOWER; announced that it will transition the Chief Financial Officer role to Brian Wuebbels from the company's current CFO, Mark Murphy.
Galena Biopharma (Nasdaq: GALE) 18.4% HIGHER; continuing higher today following an 11.5 percent rise yesterday. Volume is extremely heavy today. Although shares moved above the $1.50 resistance level, the stock seems to be holding below that level.
Velti (Nasdaq: VELT) 15.9% HIGHER; traders are buying the dip today following a more than 33 percent decline yesterday on the heels of Q1 results and FY12 guidance on Tuesday evening.
Advance Auto Parts, Inc. (NYSE: AAP) 15.7% LOWER; reported Q1 EPS of $1.79, $0.02 worse than the analyst estimate of $1.81. Revenue for the quarter came in at $1.96 billion versus the consensus estimate of $2 billion. Advance Auto Parts, Inc. reaffirmed FY2012 guidance.
E-Commerce China Dangdang (NYSE: DANG) 15.4% LOWER; reported Q1 EPS of ($0.20), $0.04 better than the analyst estimate of ($0.24). Revenue for the quarter came in at $172.1 million versus the consensus estimate of $175.74 million. Dangdang expects its total net revenues in the second quarter of 2012 to be around RMB1186 million, representing year-over-year growth of around 50%.
21Vianet Group (NASDAQ: VNET) 13.5% LOWER; reported Q1 EPS of $0.12, $0.01 better than the analyst estimate of $0.11. Revenue for the quarter came in at $55 million versus the consensus estimate of $54.47 million. For the second quarter of 2012, the Company expects net revenues to be in the range of RMB364 million to RMB370 million.
KongZhong (Nasdaq: KONG) 13% HIGHER; reported Q1 EPS of 21 cents on sales of $43.8 million. The Street was looking for EPS of 11 cents on sales of $43.8 million. The company is looking for Q2 sales of $49-$50 million, which compares to the Street estimate of $44.6 million.
Liquidity Services (Nasdaq: LQDT) 12.5% LOWER; technicans may be reacting to small insider sells from several execs last night. The stock opened below both the 50- and 200-day simple moving averages, levels which the price was holding extremely close to yesterday and on Tuesdya.
Red Robin Gourmet Burgers, Inc. (NASDAQ: RRGB) 12.2% LOWER; reported Q1 EPS of $0.71, $0.05 better than the analyst estimate of $0.66. Revenue for the quarter came in at $299.5 million versus the consensus estimate of $306.4 million.
Dendreon (Nasdaq: DNDN) 10.6% LOWER; shares are moving lower as we are hearing an unconfirmed rumor the SEC has opened a probe on the company's disclosures.
Sears Holding Corp. (NASDAQ: SHLD) 10.2% HIGHER; reported Q1 loss of ($0.31), versus the analyst estimate of ($0.67). Revenue for the quarter came in at $9.27 billion versus the consensus estimate of $9.15 billion. Sears Domestic's comparable store sales declined 1.0% in the first quarter of 2012, Kmart's comparable store sales declined 1.6% and Sears Canada's comparable store sales declined 6.3%.
MEMC Electronic Materials, Inc. (NYSE: WFR) 20% LOWER; announced that it will transition the Chief Financial Officer role to Brian Wuebbels from the company's current CFO, Mark Murphy.
Galena Biopharma (Nasdaq: GALE) 18.4% HIGHER; continuing higher today following an 11.5 percent rise yesterday. Volume is extremely heavy today. Although shares moved above the $1.50 resistance level, the stock seems to be holding below that level.
Velti (Nasdaq: VELT) 15.9% HIGHER; traders are buying the dip today following a more than 33 percent decline yesterday on the heels of Q1 results and FY12 guidance on Tuesday evening.
Advance Auto Parts, Inc. (NYSE: AAP) 15.7% LOWER; reported Q1 EPS of $1.79, $0.02 worse than the analyst estimate of $1.81. Revenue for the quarter came in at $1.96 billion versus the consensus estimate of $2 billion. Advance Auto Parts, Inc. reaffirmed FY2012 guidance.
E-Commerce China Dangdang (NYSE: DANG) 15.4% LOWER; reported Q1 EPS of ($0.20), $0.04 better than the analyst estimate of ($0.24). Revenue for the quarter came in at $172.1 million versus the consensus estimate of $175.74 million. Dangdang expects its total net revenues in the second quarter of 2012 to be around RMB1186 million, representing year-over-year growth of around 50%.
21Vianet Group (NASDAQ: VNET) 13.5% LOWER; reported Q1 EPS of $0.12, $0.01 better than the analyst estimate of $0.11. Revenue for the quarter came in at $55 million versus the consensus estimate of $54.47 million. For the second quarter of 2012, the Company expects net revenues to be in the range of RMB364 million to RMB370 million.
KongZhong (Nasdaq: KONG) 13% HIGHER; reported Q1 EPS of 21 cents on sales of $43.8 million. The Street was looking for EPS of 11 cents on sales of $43.8 million. The company is looking for Q2 sales of $49-$50 million, which compares to the Street estimate of $44.6 million.
Liquidity Services (Nasdaq: LQDT) 12.5% LOWER; technicans may be reacting to small insider sells from several execs last night. The stock opened below both the 50- and 200-day simple moving averages, levels which the price was holding extremely close to yesterday and on Tuesdya.
Red Robin Gourmet Burgers, Inc. (NASDAQ: RRGB) 12.2% LOWER; reported Q1 EPS of $0.71, $0.05 better than the analyst estimate of $0.66. Revenue for the quarter came in at $299.5 million versus the consensus estimate of $306.4 million.
Dendreon (Nasdaq: DNDN) 10.6% LOWER; shares are moving lower as we are hearing an unconfirmed rumor the SEC has opened a probe on the company's disclosures.
Sears Holding Corp. (NASDAQ: SHLD) 10.2% HIGHER; reported Q1 loss of ($0.31), versus the analyst estimate of ($0.67). Revenue for the quarter came in at $9.27 billion versus the consensus estimate of $9.15 billion. Sears Domestic's comparable store sales declined 1.0% in the first quarter of 2012, Kmart's comparable store sales declined 1.6% and Sears Canada's comparable store sales declined 6.3%.
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