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Unusual 11 Mid-Day Movers 04/10: (IFMI) (DRWI) (STP) Higher; (HMA) (TITN) (HBIO) Lower

April 10, 2013 2:02 PM EDT
Institutional Financial Markets, Inc. (AMEX: IFMI) 25.4% HIGHER; momentum mover seeing stronger gains back above the $2.50 price level. Despite the move to $3.01 on the session, Institutional still has 4.3 percent to go for a new 52-week high at $3.14.

DragonWave Inc. (Nasdaq: DRWI) 20.0% HIGHER; announced changes to its existing operational framework with Nokia Siemens Networks, a joint venture of Nokia Corp. and Siemens AG. In line with the renewed framework, DragonWave will continue to be the preferred, strategic supplier to Nokia Siemens Networks of packet microwave and related products, and the companies will jointly coordinate technology development activities.

Suntech Power Holdings Co., Ltd. (NYSE: STP) 19.8% HIGHER; announced that Suntech Power International Ltd. ("SPI"), the Company's principal operating subsidiary in Europe, has been granted a provisional moratorium for two months on creditor claims by the judicial authorities in Schaffhausen, Switzerland. SPI had applied for the provisional moratorium as a result of over-indebtedness, a requirement under local law and regulations. The majority of SPI's debt is Suntech inter-company debt. The court has appointed an administrator to assess SPI's financial condition and the prospects of reaching a composition agreement with creditors to restructure SPI's outstanding debt. SPI will continue its operations and serve its European customers during this period.

Health Management Associates, Inc. (NYSE: HMA) 18.5% LOWER; said it ses Q113 revs of $1.48 billion and EPS of $0.12 - $0.13. The Street sees revs of $1.77 billion and EPS of $0.24.

OXiGENE, Inc. (Nasdaq: OXGN) 16.9% HIGHER; is exploring regulatory approval for ZYBRESTAT in anaplastic thyroid cancer, or ATC, in the European Union (EU) with a marketing authorization application (MAA) under an exceptional or conditional circumstances pathway, which might allow it to receive approval in Europe for ZYBRESTAT without conducting another clinical trial and for substantially less cost.

National Bank of Greece (NYSE: NBG) 16.0% HIGHER; rebounding amid some positive news wtih respect to Cryprus' credit rating at S&P.

Synacor, Inc. (Nasdaq: SYNC) 15.2% HIGHER; announced continued momentum of Cloud ID Social Login, a key offering of its Cloud Identity Management platform. Midcontinent is among the first service providers to offer their subscribers Social Login as a means to simultaneously authenticate for TV Everywhere content when logging in on Facebook, Twitter or Google.

Titan Machinery (Nasdaq: TITN) 14.3% LOWER; reported Q4 EPS of $0.73, $0.19 worse than the analyst estimate of $0.92. Revenue for the quarter came in at $784.5 million versus the consensus estimate of $692.87 million. Sees FY2014 EPS of $2.00-$2.30, versus the consensus of $2.59. Also sees FY2014 revenue of $2.35-$2.55 billion, versus the consensus of $2.28 billion.

Xerium Technologies, Inc. (NYSE: XRM) 14.1% HIGHER; continuing higher after announcing certain preliminary financial results for the quarter ended March 31, 2013, on Tuesday. Sales rose 4 percent to $139.8 million, while adjusted EBITDA improved 55 percent to $29.1 million. Net debt is at $400.9 million with net leverage ratio of roughly 4 times.

Harvard Bioscience, Inc. (Nasdaq: HBIO) 13.8% LOWER; announced that the planned initial public offering by its wholly-owned regenerative medicine device subsidiary, Harvard Apparatus Regenerative Technology, Inc., or HART, has been postponed due to market conditions.

Synergy Pharmaceuticals Inc. (Nasdaq: SGYP) 13.0% LOWER; announced that it is offering to sell an aggregate value of $90,000,000 of its common stock in an underwritten public offering (or an aggregate value of $103,500,000 of its common stock if the underwriters of such offering exercise their over-allotment option in full).

NewLead Holdings Ltd. (Nasdaq: NEWL) 7.1% LOWER; received a written notification from The NASDAQ Stock Market LLC (“NASDAQ”) indicating that the Company was not in compliance with NASDAQ Listing Rule 5450(a)(1) because the minimum bid price of the Company’s common shares was below $1.00 per share for the previous 30 consecutive business days. Pursuant to the NASDAQ Listing Rules, the Company has been granted a 180-day compliance period to regain compliance with the requirements of the NASDAQ Listing Rules. The compliance period for the minimum bid price requirement ends on October 1, 2013. During the compliance period, the Company’s common shares will continue to be listed and traded on The NASDAQ Global Select Market. Pursuant to the NASDAQ Listing Rules, the Company may regain compliance with the NASDAQ Listing Rules if the minimum bid price of its common shares equals at least $1.00 per share for ten consecutive business days at any time during the compliance period pursuant to NASDAQ Listing Rule 5810(c)(3)(A).

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