Unusual 11 Mid-Day Movers 06/10: (SGOC) (STEL) (ACAD) Higher; (DVAX) (OSH) (AEPI) Lower
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Dynavax Technologies Corporation (Nasdaq: DVAX) 35.0% LOWER; reported that it recently concluded a meeting with the U.S. Food and Drug Administration (FDA or Agency) regarding its Biologic License Application (BLA) for HEPLISAV, an investigational adult hepatitis B vaccine. The meeting followed recommendations expressed in November 2012 by the Vaccines and Related Biological Products Advisory Committee (VRBPAC) regarding the size of Dynavax's safety database.
SGOCO Group, Ltd (Nasdaq: SGOC) 25.5% HIGHER; reported Q1 EPS of $0.10, versus $0.05 reported last year. Revenue for the quarter increased 58.0% to $54.5 million, versus $34.5 million reported last year.
Orchard Supply (Nasdaq: OSH) 17.8% LOWER; last Friday it was reported that Orchard Supply is considering filing for bankruptcy this week, according to sources cited by Bloomberg. Talks with lenders about restructuring $261 million in debt and capital lease obligations is said to be ongoing. Several companies are already considering a stalking horse bid for parts of the company, said sources.
StellarOne Corporation (Nasdaq: STEL) 16.3% HIGHER; will be acquired by Union First Market Bankshares Corporation (Nasdaq: UBSH) in a $445.1 million deal. For more color, click here.
ACADIA Pharmaceuticals Inc. (Nasdaq: ACAD) 15.5% HIGHER; ACADIA on its sixth up day, continuing from an initially strong move above $15 last week. Late last Friday, the company said it and HCP Torreyana, LLC entered into a lease with respect to the property located at 11085 Torreyana Road in San Diego, California. The Lease covers approximately 19,000 square feet of general office space in the Property and has an initial term of three years, with an option for an additional three-year term. The Lease has an anticipated commencement date of September 15, 2013 and an initial rental rate of $2.35 per square foot, with annual increases of 3.5% thereafter. The office space under the Lease will serve as ACADIA’s new corporate headquarters, replacing the Company’s current facilities in San Diego, California.
Motorcar Parts of America, Inc. (Nasdaq: MPAA) 14.7% HIGHER; said it expects the company's separately capitalized subsidiaries, Fenwick Automotive Products Limited and Introcan ("Fenco"), will file for bankruptcy. Fenco is currently being managed by a chief restructuring officer and a board not affiliated with Motorcar Parts of America, and Fenco will make any decision as to the timing and process for any bankruptcy proceeding.
AEP Industries, Inc. (Nasdaq: AEPI) 13.8% LOWER; reported Q2 EPS of $0.04, $1.18 worse than the analyst estimate of $1.22. Revenue for the quarter came in at $284.3 million versus the consensus estimate of $296.7 million. We previously issued guidance indicating that sales volume in fiscal 2013 would exceed one billion pounds, an increase of 3% or 30 million pounds from fiscal 2012. The Company is now revising that target and is expecting volume for fiscal 2013 to remain flat. The decrease in sales volume is mainly attributable to a softer than expected North American market, the Company's continuing price management activities, and unanticipated delays experienced in the Company's product qualification efforts and equipment installation activities related to our Webster and Transco businesses, which the Company expects to complete by July 2013.
Sinopec Shanghai Petrochemical Co. Ltd. (NYSE: SHI) 12.5% LOWER; detailed implementation of the Capital Fund Conversion Proposal. For more color, click here.
Triangle Petroleum (NYSE: TPLM) 12.5% HIGHER; reported Q1 EPS of $0.10, $0.03 better than the analyst estimate of $0.07. Revenue for the quarter came in at $34.29 million versus the consensus estimate of $31.13 million.
Kandi Technolgies Group, Inc. (Nasdaq: KNDI) 11.8% HIGHER; continuing higher above the $6 level after getting approval in China for its jointly-developed JL7001BEV sedan.
Amira Nature Foods Ltd (NYSE: ANFI) 8.9% LOWER; reported Q4 EPS of $0.24, in-line with the analyst estimate of $0.24. Revenue for the quarter came in at $140.2 million versus the consensus estimate of $133.94 million. Amira sees FY2014 revenue of $480-$507 million, versus the consensus of $491.4 million.
To get this report daily visit http://www.streetinsider.com/entities/Unusual+11+Mid-Day+Movers.
SGOCO Group, Ltd (Nasdaq: SGOC) 25.5% HIGHER; reported Q1 EPS of $0.10, versus $0.05 reported last year. Revenue for the quarter increased 58.0% to $54.5 million, versus $34.5 million reported last year.
Orchard Supply (Nasdaq: OSH) 17.8% LOWER; last Friday it was reported that Orchard Supply is considering filing for bankruptcy this week, according to sources cited by Bloomberg. Talks with lenders about restructuring $261 million in debt and capital lease obligations is said to be ongoing. Several companies are already considering a stalking horse bid for parts of the company, said sources.
StellarOne Corporation (Nasdaq: STEL) 16.3% HIGHER; will be acquired by Union First Market Bankshares Corporation (Nasdaq: UBSH) in a $445.1 million deal. For more color, click here.
ACADIA Pharmaceuticals Inc. (Nasdaq: ACAD) 15.5% HIGHER; ACADIA on its sixth up day, continuing from an initially strong move above $15 last week. Late last Friday, the company said it and HCP Torreyana, LLC entered into a lease with respect to the property located at 11085 Torreyana Road in San Diego, California. The Lease covers approximately 19,000 square feet of general office space in the Property and has an initial term of three years, with an option for an additional three-year term. The Lease has an anticipated commencement date of September 15, 2013 and an initial rental rate of $2.35 per square foot, with annual increases of 3.5% thereafter. The office space under the Lease will serve as ACADIA’s new corporate headquarters, replacing the Company’s current facilities in San Diego, California.
Motorcar Parts of America, Inc. (Nasdaq: MPAA) 14.7% HIGHER; said it expects the company's separately capitalized subsidiaries, Fenwick Automotive Products Limited and Introcan ("Fenco"), will file for bankruptcy. Fenco is currently being managed by a chief restructuring officer and a board not affiliated with Motorcar Parts of America, and Fenco will make any decision as to the timing and process for any bankruptcy proceeding.
AEP Industries, Inc. (Nasdaq: AEPI) 13.8% LOWER; reported Q2 EPS of $0.04, $1.18 worse than the analyst estimate of $1.22. Revenue for the quarter came in at $284.3 million versus the consensus estimate of $296.7 million. We previously issued guidance indicating that sales volume in fiscal 2013 would exceed one billion pounds, an increase of 3% or 30 million pounds from fiscal 2012. The Company is now revising that target and is expecting volume for fiscal 2013 to remain flat. The decrease in sales volume is mainly attributable to a softer than expected North American market, the Company's continuing price management activities, and unanticipated delays experienced in the Company's product qualification efforts and equipment installation activities related to our Webster and Transco businesses, which the Company expects to complete by July 2013.
Sinopec Shanghai Petrochemical Co. Ltd. (NYSE: SHI) 12.5% LOWER; detailed implementation of the Capital Fund Conversion Proposal. For more color, click here.
Triangle Petroleum (NYSE: TPLM) 12.5% HIGHER; reported Q1 EPS of $0.10, $0.03 better than the analyst estimate of $0.07. Revenue for the quarter came in at $34.29 million versus the consensus estimate of $31.13 million.
Kandi Technolgies Group, Inc. (Nasdaq: KNDI) 11.8% HIGHER; continuing higher above the $6 level after getting approval in China for its jointly-developed JL7001BEV sedan.
Amira Nature Foods Ltd (NYSE: ANFI) 8.9% LOWER; reported Q4 EPS of $0.24, in-line with the analyst estimate of $0.24. Revenue for the quarter came in at $140.2 million versus the consensus estimate of $133.94 million. Amira sees FY2014 revenue of $480-$507 million, versus the consensus of $491.4 million.
To get this report daily visit http://www.streetinsider.com/entities/Unusual+11+Mid-Day+Movers.
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