Morning Movers 04/10: (XRIT) (AZC) (NBG) (PVR) Higher; (VPHM) (TRGT) (SNE) Lower
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X-Rite (Nasdaq: XRIT) 38.5% HIGHER; Danaher (NYSE: DHR) announces it will acquire X-Rite for $5.55 per share in cash, or a total of approximately $625 million including the assumption of debt, net of cash.
Augusta Resource Corporation (Amex: AZC) 21.1% HIGHER; announced the Arizona Department of Environmental Quality has issued the Aquifer Protection Permit for its Rosemont Copper project. The APP establishes the operating standards and controls to ensure the protection of ground water and is effective for the life of the mine.
National Bank of Greece (NYSE: NBG) 20.3% HIGHER; Greek banks proposed a recapitalization program which would limit losses related to the nation's debt restructuring to 53.5 percent.
ViroPharma Incorporated (Nasdaq: VPHM) 19.3% LOWER; today announced the U.S. FDA denied the citizen petition (Docket # FDA-2006-P-0007) filed by ViroPharma on March 17, 2006 related to the FDA's proposed in vitro method for determining bioequivalence of abbreviated new drug applications (ANDAs) referencing Vancocin (vancomycin hydrochloride, USP) Capsules. In the FDA's response to the citizen petition, the agency denied ViroPharma's citizen petition and also informed the company that a final guidance for vancomycin bioequivalence consistent with the FDA's citizen petition response is forthcoming.
Penn Virginia Resource Partners, L.P. (NYSE: PVR) 12.3% HIGHER; announced that it has signed a definitive agreement to acquire Chief Gathering LLC for $1.0 billion.
Supervalu, Inc. (NYSE: SVU) 10.9% HIGHER; reported Q4 EPS of $0.38, $0.03 better than the analyst estimate of $0.35. Revenue for the quarter came in at $8.23 billion versus the consensus estimate of $8.31 billion. Sees FY2013 EPS of $1.27-$1.42, versus the consensus of $1.19.
Targacept, Inc. (NASDAQ: TRGT) 9.9% LOWER; announced revised top-line results from its exploratory Phase 2 clinical study of TC-6987 in asthma.
Sony (NYSE: SNE) 9.4% LOWER; expects to record an aggregate additional charge of approximately 300 billion yen in tax expense in the fourth quarter of the fiscal year ended March 31, 2012, primarily due to the establishment of valuation allowances against certain deferred tax assets, predominantly in the U.S. For the fiscal year starting April 1, 2012, with assumed foreign currency exchange rates of approximately 80 yen against the U.S. dollar and approximately 105 yen against the euro, Sony is currently forecasting that it will return to positive operating results and that its consolidated income for the fiscal year ending March 31, 2013 will be approximately 180 billion yen.
Optimer Pharma (Nasdaq: OPTR) 9.3% LOWER; continuing lower following termination of the company's Chairman Chang, CFO Prunty and Vice President Shue. The stock fell about 4 percent yesterday. This morning shares are below the $13 support level.
Extreme Networks (Nasdaq: EXTR) 9.2% HIGHER; shares surged after consolidating around the 200-day SMA. Craig-Hallum started the stock at Buy with a $7 price target earlier.
Augusta Resource Corporation (Amex: AZC) 21.1% HIGHER; announced the Arizona Department of Environmental Quality has issued the Aquifer Protection Permit for its Rosemont Copper project. The APP establishes the operating standards and controls to ensure the protection of ground water and is effective for the life of the mine.
National Bank of Greece (NYSE: NBG) 20.3% HIGHER; Greek banks proposed a recapitalization program which would limit losses related to the nation's debt restructuring to 53.5 percent.
ViroPharma Incorporated (Nasdaq: VPHM) 19.3% LOWER; today announced the U.S. FDA denied the citizen petition (Docket # FDA-2006-P-0007) filed by ViroPharma on March 17, 2006 related to the FDA's proposed in vitro method for determining bioequivalence of abbreviated new drug applications (ANDAs) referencing Vancocin (vancomycin hydrochloride, USP) Capsules. In the FDA's response to the citizen petition, the agency denied ViroPharma's citizen petition and also informed the company that a final guidance for vancomycin bioequivalence consistent with the FDA's citizen petition response is forthcoming.
Penn Virginia Resource Partners, L.P. (NYSE: PVR) 12.3% HIGHER; announced that it has signed a definitive agreement to acquire Chief Gathering LLC for $1.0 billion.
Supervalu, Inc. (NYSE: SVU) 10.9% HIGHER; reported Q4 EPS of $0.38, $0.03 better than the analyst estimate of $0.35. Revenue for the quarter came in at $8.23 billion versus the consensus estimate of $8.31 billion. Sees FY2013 EPS of $1.27-$1.42, versus the consensus of $1.19.
Targacept, Inc. (NASDAQ: TRGT) 9.9% LOWER; announced revised top-line results from its exploratory Phase 2 clinical study of TC-6987 in asthma.
Sony (NYSE: SNE) 9.4% LOWER; expects to record an aggregate additional charge of approximately 300 billion yen in tax expense in the fourth quarter of the fiscal year ended March 31, 2012, primarily due to the establishment of valuation allowances against certain deferred tax assets, predominantly in the U.S. For the fiscal year starting April 1, 2012, with assumed foreign currency exchange rates of approximately 80 yen against the U.S. dollar and approximately 105 yen against the euro, Sony is currently forecasting that it will return to positive operating results and that its consolidated income for the fiscal year ending March 31, 2013 will be approximately 180 billion yen.
Optimer Pharma (Nasdaq: OPTR) 9.3% LOWER; continuing lower following termination of the company's Chairman Chang, CFO Prunty and Vice President Shue. The stock fell about 4 percent yesterday. This morning shares are below the $13 support level.
Extreme Networks (Nasdaq: EXTR) 9.2% HIGHER; shares surged after consolidating around the 200-day SMA. Craig-Hallum started the stock at Buy with a $7 price target earlier.
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