Unusual 11 Mid-Day Movers 09/28: (CHC) (KH) (CT) Higher; (ENPH) (ADTN) (CTC) Lower
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China Hydroelectric Corporation (NYSE: CHC) 22.2% HIGHER; Shareholder Group said CHC board members John D. Kuhns, Richard H. Hochman, Shadron Lee Stastney, Anthony H. Dixon and Stephen Outerbridge were replaced with Jui Kian Lim, Moonkyung Kim, Amit Gupta and Yun Pun Wong.
China Kanghui Holdings (NYSE: KH) 21.1% HIGHER; Medtronic, Inc. (NYSE: MDT) and China Kanghui entered into a merger agreement whereby Medtronic will acquire Kanghui. The agreement calls for Medtronic to pay approximately $816 million in cash ($30.75 per American depository share). The total value of the transaction, net of Kanghui's cash, is expected to be approximately $755 million.
Capital Trust, Inc. (NYSE: CT) 18.9% HIGHER; announced a definitive agreement under which an affiliate of Blackstone (NYSE: BX) will acquire its investment management business, operated through its subsidiary, CT Investment Management Co., LLC.
Cytori Therapeutics (Nasdaq: CYTX) 18.3% HIGHER; has been awarded a contract that may be valued up to $106 million by the U.S. Department of Health and Human Service’s Biomedical Advanced Research and Development Authority (BARDA), if all Contract Options are executed.
AZZ, Inc. (NYSE: AZZ) 13.8% HIGHER; reported Q2 EPS of $0.62, $0.10 better than the analyst estimate of $0.52. Revenue for the quarter came in at $153.4 million versus the consensus estimate of $146.12 million. Sees FY2013 EPS of $2.25-$2.40, versus prior guidance of $2.05-$2.15 and the consensus of $2.07. AZZ sees FY2013 revenue of $575-$600 million, versus prior guidance of $550-$575 million and the consensus of $566.05 million.
Navarre Corp. (Nasdaq: NAVR) 12.5% HIGHER; has entered into a definitive agreement to acquire SpeedFC, Inc. ("SPEED"), a provider of e-commerce services to online retailers and manufacturers, for $50 million in cash and stock.
Enphase Energy, Inc. (Nasdaq: ENPH) 8.5% LOWER; announced today the appointment of a Chief Financial Officer, Kris Sennesael, effective immediately.
ADTRAN, Inc. (Nasdaq: ADTN) 8.4% LOWER; announced revised revenue and earnings estimates for the third quarter ending September 30, 2012. Revenue for the quarter is expected to be approximately $162 million vs. street estimates of $187.20 million. GAAP earnings per share for the quarter, assuming dilution, are expected to range from $0.14 to $0.15. Non-GAAP earnings per share for the quarter are expected to range from $0.18 to $0.19 vs. street estimates of $0.30.
IFM Investments Limited (NYSE: CTC) 11.6% LOWER; lower as traders take profit on a 52 percent jump Thursday. IFM did not comment on the activity.
Ascent Solar Tech (Nasdaq: ASTI) 8.0% LOWER; lower as solars see some pressure on Spanish banking news. Europe is still a good source of sales for PV makers, amid efforts to focus more on the U.S. and Asian markets.
Iridium Communications Inc. (Nasdaq: IRDM) 7.9% LOWER; announced a warrant exchange offer as well as pricing on a 1 million, seven percent preferred offerirng.
To get this report daily visit http://www.streetinsider.com/entities/Unusual+11+Mid-Day+Movers.
China Kanghui Holdings (NYSE: KH) 21.1% HIGHER; Medtronic, Inc. (NYSE: MDT) and China Kanghui entered into a merger agreement whereby Medtronic will acquire Kanghui. The agreement calls for Medtronic to pay approximately $816 million in cash ($30.75 per American depository share). The total value of the transaction, net of Kanghui's cash, is expected to be approximately $755 million.
Capital Trust, Inc. (NYSE: CT) 18.9% HIGHER; announced a definitive agreement under which an affiliate of Blackstone (NYSE: BX) will acquire its investment management business, operated through its subsidiary, CT Investment Management Co., LLC.
Cytori Therapeutics (Nasdaq: CYTX) 18.3% HIGHER; has been awarded a contract that may be valued up to $106 million by the U.S. Department of Health and Human Service’s Biomedical Advanced Research and Development Authority (BARDA), if all Contract Options are executed.
AZZ, Inc. (NYSE: AZZ) 13.8% HIGHER; reported Q2 EPS of $0.62, $0.10 better than the analyst estimate of $0.52. Revenue for the quarter came in at $153.4 million versus the consensus estimate of $146.12 million. Sees FY2013 EPS of $2.25-$2.40, versus prior guidance of $2.05-$2.15 and the consensus of $2.07. AZZ sees FY2013 revenue of $575-$600 million, versus prior guidance of $550-$575 million and the consensus of $566.05 million.
Navarre Corp. (Nasdaq: NAVR) 12.5% HIGHER; has entered into a definitive agreement to acquire SpeedFC, Inc. ("SPEED"), a provider of e-commerce services to online retailers and manufacturers, for $50 million in cash and stock.
Enphase Energy, Inc. (Nasdaq: ENPH) 8.5% LOWER; announced today the appointment of a Chief Financial Officer, Kris Sennesael, effective immediately.
ADTRAN, Inc. (Nasdaq: ADTN) 8.4% LOWER; announced revised revenue and earnings estimates for the third quarter ending September 30, 2012. Revenue for the quarter is expected to be approximately $162 million vs. street estimates of $187.20 million. GAAP earnings per share for the quarter, assuming dilution, are expected to range from $0.14 to $0.15. Non-GAAP earnings per share for the quarter are expected to range from $0.18 to $0.19 vs. street estimates of $0.30.
IFM Investments Limited (NYSE: CTC) 11.6% LOWER; lower as traders take profit on a 52 percent jump Thursday. IFM did not comment on the activity.
Ascent Solar Tech (Nasdaq: ASTI) 8.0% LOWER; lower as solars see some pressure on Spanish banking news. Europe is still a good source of sales for PV makers, amid efforts to focus more on the U.S. and Asian markets.
Iridium Communications Inc. (Nasdaq: IRDM) 7.9% LOWER; announced a warrant exchange offer as well as pricing on a 1 million, seven percent preferred offerirng.
To get this report daily visit http://www.streetinsider.com/entities/Unusual+11+Mid-Day+Movers.
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