Unusual 11 Mid-Day Movers 04/30: (EDS) (BKS) (IFT) Higher; (PAY) (TEN) (NGD) Lower
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Exceed Company Limited (NYSE: EDS) 70.7% HIGHER; reported 2011 operating profit of $79.2 million on sales of $522.5 million. One analyst was looking for Exceed to report $495.5 million in 2011 sales.
Barnes & Noble Inc. (NYSE: BKS) 61.9% HIGHER; B&N and Microsoft (NASDAQ: MSFT) today announced the formation of a strategic partnership in a new Barnes & Noble subsidiary, which will build upon the history of strong innovation in digital reading technologies from both companies. The partnership will accelerate the transition to e-reading, which is revolutionizing the way people consume, create, share and enjoy digital content. The new subsidiary, referred to in this release as Newco, will bring together the digital and College businesses of Barnes & Noble. Microsoft will make a $300 million investment in Newco at a post-money valuation of $1.7 billion in exchange for an approximately 17.6% equity stake. Barnes & Noble will own approximately 82.4% of the new subsidiary
Imperial Holdings, Inc. (NYSE: IFT) 30.9% HIGHER; announced today that the Company and the U.S. Attorney’s Office for the District of New Hampshire have entered into a Non-Prosecution Agreement relating to the USAO’s investigation into the Company’s premium finance business. Under the terms of the NPA, the USAO has agreed not to prosecute Imperial for any crimes related to Imperial’s involvement in the making of misrepresentations on life insurance applications and has agreed not to prosecute Imperial for any potential securities fraud claims related to its premium finance business.
Conceptus, Inc. (Nasdaq: CPTS) 26.8% HIGHER; has reached an agreement with Hologic, Inc. (Nasdaq: HOLX) to settle the ongoing patent infringement litigation related to Hologic's Adiana Permanent Contraception System. Under the terms of the settlement agreement, Hologic has agreed to remove its Adiana system from the worldwide permanent birth control market by May 18, 2012. In addition, Conceptus has relieved Hologic of the $18.8 million payment for monetary damages awarded to Conceptus as part of the October 17, 2011 jury verdict.
Demand Media, Inc. (NYSE: DMD) 21.0% HIGHER; shares are surging Monday following reports from AllThingsD over the weekend the company was in advanced talks with private equity firms to go private.
Books-A-Million, Inc. (Nasdaq: BAMM) 20.5% HIGHER; Clyde B. Anderson announced on April 28, 2012, that the Anderson family has made a non-binding proposal to acquire all of the outstanding publicly-held shares of the common stock of Books-A-Million. Mr. Anderson is the Executive Chairman of the Company and Mr. Anderson and other members of the Anderson family currently directly or indirectly control shares of stock representing, in the aggregate, approximately 53 percent of the common stock of the Company. According to the proposal, public shareholders would receive $3.05 per share in cash.
VeriFone (NYSE: PAY) 11.9% LOWER; Deutsche Bank downgraded the stock from Hold to Sell, price target lowered from $44 to $40.
Tenneco (NYSE: TEN) 10.5% LOWER; reported Q1 EPS of $0.66, $0.08 worse than the analyst estimate of $0.74. Revenue for the quarter came in at $1.91 billion versus the consensus estimate of $1.89 billion.
New Gold Inc. (AMEX: NGD) 10.5% LOWER; announces that the Chilean Supreme Court has temporarily suspended the approval of the environmental permit for the El Morro Project. The El Morro Project is a joint venture between New Gold and Goldcorp Inc. (NYSE: GG), where New Gold is a 30 percent partner and Goldcorp is the 70 percent partner and the project developer and operator. The environmental permit was originally approved on March 14, 2011.
Hologic (Nasdaq: HOLX) 10.5% LOWER; moving lower following news of a bid for Gen-Probe.
Nam Tai Electronics, Inc. (NYSE: NTE) 9.8% LOWER; reported Q1 EPS of ($0.08), versus $0.04 reported last year. Revenue for the quarter came in at $94.06 million versus the consensus estimate of $145.2 million.
To get this report daily visit http://www.streetinsider.com/entities/Unusual+11+Mid-Day+Movers.
Barnes & Noble Inc. (NYSE: BKS) 61.9% HIGHER; B&N and Microsoft (NASDAQ: MSFT) today announced the formation of a strategic partnership in a new Barnes & Noble subsidiary, which will build upon the history of strong innovation in digital reading technologies from both companies. The partnership will accelerate the transition to e-reading, which is revolutionizing the way people consume, create, share and enjoy digital content. The new subsidiary, referred to in this release as Newco, will bring together the digital and College businesses of Barnes & Noble. Microsoft will make a $300 million investment in Newco at a post-money valuation of $1.7 billion in exchange for an approximately 17.6% equity stake. Barnes & Noble will own approximately 82.4% of the new subsidiary
Imperial Holdings, Inc. (NYSE: IFT) 30.9% HIGHER; announced today that the Company and the U.S. Attorney’s Office for the District of New Hampshire have entered into a Non-Prosecution Agreement relating to the USAO’s investigation into the Company’s premium finance business. Under the terms of the NPA, the USAO has agreed not to prosecute Imperial for any crimes related to Imperial’s involvement in the making of misrepresentations on life insurance applications and has agreed not to prosecute Imperial for any potential securities fraud claims related to its premium finance business.
Conceptus, Inc. (Nasdaq: CPTS) 26.8% HIGHER; has reached an agreement with Hologic, Inc. (Nasdaq: HOLX) to settle the ongoing patent infringement litigation related to Hologic's Adiana Permanent Contraception System. Under the terms of the settlement agreement, Hologic has agreed to remove its Adiana system from the worldwide permanent birth control market by May 18, 2012. In addition, Conceptus has relieved Hologic of the $18.8 million payment for monetary damages awarded to Conceptus as part of the October 17, 2011 jury verdict.
Demand Media, Inc. (NYSE: DMD) 21.0% HIGHER; shares are surging Monday following reports from AllThingsD over the weekend the company was in advanced talks with private equity firms to go private.
Books-A-Million, Inc. (Nasdaq: BAMM) 20.5% HIGHER; Clyde B. Anderson announced on April 28, 2012, that the Anderson family has made a non-binding proposal to acquire all of the outstanding publicly-held shares of the common stock of Books-A-Million. Mr. Anderson is the Executive Chairman of the Company and Mr. Anderson and other members of the Anderson family currently directly or indirectly control shares of stock representing, in the aggregate, approximately 53 percent of the common stock of the Company. According to the proposal, public shareholders would receive $3.05 per share in cash.
VeriFone (NYSE: PAY) 11.9% LOWER; Deutsche Bank downgraded the stock from Hold to Sell, price target lowered from $44 to $40.
Tenneco (NYSE: TEN) 10.5% LOWER; reported Q1 EPS of $0.66, $0.08 worse than the analyst estimate of $0.74. Revenue for the quarter came in at $1.91 billion versus the consensus estimate of $1.89 billion.
New Gold Inc. (AMEX: NGD) 10.5% LOWER; announces that the Chilean Supreme Court has temporarily suspended the approval of the environmental permit for the El Morro Project. The El Morro Project is a joint venture between New Gold and Goldcorp Inc. (NYSE: GG), where New Gold is a 30 percent partner and Goldcorp is the 70 percent partner and the project developer and operator. The environmental permit was originally approved on March 14, 2011.
Hologic (Nasdaq: HOLX) 10.5% LOWER; moving lower following news of a bid for Gen-Probe.
Nam Tai Electronics, Inc. (NYSE: NTE) 9.8% LOWER; reported Q1 EPS of ($0.08), versus $0.04 reported last year. Revenue for the quarter came in at $94.06 million versus the consensus estimate of $145.2 million.
To get this report daily visit http://www.streetinsider.com/entities/Unusual+11+Mid-Day+Movers.
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