Largest Net $ Movers of Note 12/15/06
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UPWARD MOVERS:
Isilon Systems (Nasdaq: ISLN) +$9.88; Today's IPO is open for trading. The stock is trading at $22.38 after pricing at $13 per share, above the expected $11-$12 range, which was raised from $8.50-$9.50.
AMREP Corp. (NYSE: AXR) +$8.15; Stock continues higher with no specific news releases. The stock is up over 100% since November 6th.
The Bear Stearns Companies (NYSE: BSC) +$4.57; Announced that the Board of Directors of the company approved an amendment to its share repurchase program to allow the company to purchase up to $2.0 billion in aggregate cost of common stock.
Electronic Clearing House (Nasdaq: ECHO) +$3.30; Intuit Inc. (Nasdaq: INTU) and Electronic Clearing House have signed a definitive agreement for Intuit to acquire ECHO. Under the terms of the agreement, Intuit will pay $18.75 per share in cash in exchange for each share of ECHO common stock, including shares issuable upon exercise of options
Natural Resource Partners LP (NYSE: NRP) +$3.10; Citigroup upgrades Natural Resource Partners to Buy. Price target $60.
DOWNWARD MOVERS:
Black & Decker Corp (NYSE: BDK) -7.36; Company said due to lower-than-expected sales, net earnings per diluted share are anticipated to be $1.30-to-$1.35 for the fourth quarter of 2006 and approximately $6.50 for the full year. The consensus is $1.86 and $7.01, respectively.
Zoltek Companies (Nasdaq: ZOLT) -$4.30; Reports Q4 revenues of $23.8 million vs. consensus of $31.3 million. FY revenues were $92.4 million vs. consensus of $103 million. Also, the Company updated its status on a lawsuit and delayed financial filing.
ProQuest (NYSE: PQE) -$3.59; Company says ongoing accounting review will result in the restatement of previously reported earnings for fiscal years 2001 through 2004 and for the first three quarters of 2005. The company sees earnings before interest and taxes significantly lower for each year of the restatement.
PRA International (Nasdaq: PRAI) -$2.91; Announced the resignation of Patrick K. Donnelly as Director, President and Chief Executive Officer, effective December 14, 2006. He will be leaving the organization December 31, 2006 and will remain an outside consultant to PRA's Board for 18 months. Goldman Sachs also downgraded PRAI to Neutral today.
EnCana Corporation (NYSE: ECA) -$2.53; Citigroup downgrades EnCana from Buy to Sell. Price target lowered from $60 to $47.
Isilon Systems (Nasdaq: ISLN) +$9.88; Today's IPO is open for trading. The stock is trading at $22.38 after pricing at $13 per share, above the expected $11-$12 range, which was raised from $8.50-$9.50.
AMREP Corp. (NYSE: AXR) +$8.15; Stock continues higher with no specific news releases. The stock is up over 100% since November 6th.
The Bear Stearns Companies (NYSE: BSC) +$4.57; Announced that the Board of Directors of the company approved an amendment to its share repurchase program to allow the company to purchase up to $2.0 billion in aggregate cost of common stock.
Electronic Clearing House (Nasdaq: ECHO) +$3.30; Intuit Inc. (Nasdaq: INTU) and Electronic Clearing House have signed a definitive agreement for Intuit to acquire ECHO. Under the terms of the agreement, Intuit will pay $18.75 per share in cash in exchange for each share of ECHO common stock, including shares issuable upon exercise of options
Natural Resource Partners LP (NYSE: NRP) +$3.10; Citigroup upgrades Natural Resource Partners to Buy. Price target $60.
DOWNWARD MOVERS:
Black & Decker Corp (NYSE: BDK) -7.36; Company said due to lower-than-expected sales, net earnings per diluted share are anticipated to be $1.30-to-$1.35 for the fourth quarter of 2006 and approximately $6.50 for the full year. The consensus is $1.86 and $7.01, respectively.
Zoltek Companies (Nasdaq: ZOLT) -$4.30; Reports Q4 revenues of $23.8 million vs. consensus of $31.3 million. FY revenues were $92.4 million vs. consensus of $103 million. Also, the Company updated its status on a lawsuit and delayed financial filing.
ProQuest (NYSE: PQE) -$3.59; Company says ongoing accounting review will result in the restatement of previously reported earnings for fiscal years 2001 through 2004 and for the first three quarters of 2005. The company sees earnings before interest and taxes significantly lower for each year of the restatement.
PRA International (Nasdaq: PRAI) -$2.91; Announced the resignation of Patrick K. Donnelly as Director, President and Chief Executive Officer, effective December 14, 2006. He will be leaving the organization December 31, 2006 and will remain an outside consultant to PRA's Board for 18 months. Goldman Sachs also downgraded PRAI to Neutral today.
EnCana Corporation (NYSE: ECA) -$2.53; Citigroup downgrades EnCana from Buy to Sell. Price target lowered from $60 to $47.
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