Morning Movers 01/03: (USU) (AONE) (FIO) (MAKO) Higher; (TSTC) (AVEO) (PANL) Lower
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Telestone Technologies Corporation (Nasdaq: TSTC) 19% LOWER; cuts its FY11 sales growth guidance from 30 percent to 15-20 percent, sees net income in the range of $16.8-$22.4 million, down from prior guidance of about $27.5 million.
AVEO Pharmaceuticals, Inc. (Nasdaq: AVEO) 16.5% LOWER; and Astellas Pharma Inc. have announced that tivozanib demonstrated superiority over sorafenib in the primary endpoint of progression-free survival (PFS) in TIVO-1, a global, randomized Phase 3 clinical trial evaluating the efficacy and safety of investigational drug tivozanib compared to sorafenib in 517 patients with advanced renal cell carcinoma.
USEC (NYSE: USU) 15.4% HIGHER; bouncing over the 200-day SMA this morning.
A123 (Nasdaq: AONE) 14.3% HIGHER; bouncing following a 10 percent decline over Thursday and Friday of last week.
Fusion-IO (NYSE: FIO) 14.2% HIGHER; upgraded from Equal Weight to Overweight at Morgan Stanley.
MAKO Surgical (Nasdaq: MAKO) 11.5% HIGHER; upgraded from Neutral to Buy at Summer Street. Goldman also named the stock a top buy idea in the US medical technology sector this morning.
Universal Display (NASDAQ: PANL) 11.4% LOWER; Canaccord Genuity maintains a 'Hold' on Universal Display price target lowered from $40 to $35. Canaccord analyst, Jonathan Dorsheimer, said, "After triangulating the disclosure in UDC’s filings as well as follow-ups from some recent management commentary, we now believe that the implied rate the Samsung license is based off of is lower than we originally expected. We believe that the rate is closer to 75bps, resulting in a $290-300M licensing opportunity through 2017, down from our earlier assumption of 100bps and a $350-375M licensing opportunity."
Meritor, Inc. (NYSE: MTOR) 10.3% HIGHER; Monday announced that it has completed the sale of the assets of its axle operation in Saint Priest, France, to Renault Trucks SAS. Terms of the sale were not disclosed.
Vitesse Semi (Nasdaq: VTSS) 10% HIGHER; bouncing over the $2.50 level to start 2012.
Peabody Energy (NYSE: BTU) 9.5% HIGHER; an Appeals court granted a request delaying EPA implementation of air-pollution regulations.
Terex (NYSE: TEX) 9.2% HIGHER; upgraded from Neutral to Overweight at JPMorgan earlier.
Gafisa SA (NYSE: GFA) 9.1% HIGHER; the stock traded higher in Brazil yesterday amid speculation for a decline in rates and a better-than-expected inflation outlook for 2012.
ArcelorMittal (NYSE: MT) 8.5% HIGHER; steel sector trading very strong this morning.
Yingli (NYSE: YGE) 8.2% HIGHER; solar sector trading very strong today following news LDK (NYSE: LDK) has taken a 33 percent equity stake in Sunways, bidding €1.90 per share for the company, a 23 percent premium from Friday's closing price. Elsewhere in the sector, SolarWorld CEO said Q4 sales were "pleasantly good."
Alpha Natural Resources (NYSE: ANR) 8% HIGHER; see Peabody.
AVEO Pharmaceuticals, Inc. (Nasdaq: AVEO) 16.5% LOWER; and Astellas Pharma Inc. have announced that tivozanib demonstrated superiority over sorafenib in the primary endpoint of progression-free survival (PFS) in TIVO-1, a global, randomized Phase 3 clinical trial evaluating the efficacy and safety of investigational drug tivozanib compared to sorafenib in 517 patients with advanced renal cell carcinoma.
USEC (NYSE: USU) 15.4% HIGHER; bouncing over the 200-day SMA this morning.
A123 (Nasdaq: AONE) 14.3% HIGHER; bouncing following a 10 percent decline over Thursday and Friday of last week.
Fusion-IO (NYSE: FIO) 14.2% HIGHER; upgraded from Equal Weight to Overweight at Morgan Stanley.
MAKO Surgical (Nasdaq: MAKO) 11.5% HIGHER; upgraded from Neutral to Buy at Summer Street. Goldman also named the stock a top buy idea in the US medical technology sector this morning.
Universal Display (NASDAQ: PANL) 11.4% LOWER; Canaccord Genuity maintains a 'Hold' on Universal Display price target lowered from $40 to $35. Canaccord analyst, Jonathan Dorsheimer, said, "After triangulating the disclosure in UDC’s filings as well as follow-ups from some recent management commentary, we now believe that the implied rate the Samsung license is based off of is lower than we originally expected. We believe that the rate is closer to 75bps, resulting in a $290-300M licensing opportunity through 2017, down from our earlier assumption of 100bps and a $350-375M licensing opportunity."
Meritor, Inc. (NYSE: MTOR) 10.3% HIGHER; Monday announced that it has completed the sale of the assets of its axle operation in Saint Priest, France, to Renault Trucks SAS. Terms of the sale were not disclosed.
Vitesse Semi (Nasdaq: VTSS) 10% HIGHER; bouncing over the $2.50 level to start 2012.
Peabody Energy (NYSE: BTU) 9.5% HIGHER; an Appeals court granted a request delaying EPA implementation of air-pollution regulations.
Terex (NYSE: TEX) 9.2% HIGHER; upgraded from Neutral to Overweight at JPMorgan earlier.
Gafisa SA (NYSE: GFA) 9.1% HIGHER; the stock traded higher in Brazil yesterday amid speculation for a decline in rates and a better-than-expected inflation outlook for 2012.
ArcelorMittal (NYSE: MT) 8.5% HIGHER; steel sector trading very strong this morning.
Yingli (NYSE: YGE) 8.2% HIGHER; solar sector trading very strong today following news LDK (NYSE: LDK) has taken a 33 percent equity stake in Sunways, bidding €1.90 per share for the company, a 23 percent premium from Friday's closing price. Elsewhere in the sector, SolarWorld CEO said Q4 sales were "pleasantly good."
Alpha Natural Resources (NYSE: ANR) 8% HIGHER; see Peabody.
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