Morning Movers 01/11: (EK) (BORN) (UCTT) (JKS) Higher; (HL) (UNTK) (SUMR) (URBN) Lower
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Eastman Kodak Company (NYSE: EK) 35.4% HIGHER; announced today that it has filed lawsuits against Apple Inc. (Nasdaq: AAPL) and HTC Corporation, alleging the infringement of certain Kodak patents relating to digital imaging technology.
China New Borun Corporation (NYSE: BORN) 28.7% HIGHER; announced that it has already signed pre-sales contracts worth a total of approximately 90% of the Company's total edible alcohol production capacity in 2012.
Hecla Mining Company (NYSE: HL) 26% LOWER; reports that the Mine Safety and Health Administration has ordered the Silver Shaft at the Lucky Friday mine in Mullan, Idaho closed for removal of built-up material in the shaft. This order is pursuant to the investigation following the December 14, 2011 rock burst. Compliance with the order is expected to take through year-end. Hecla’s 2012 silver production is now estimated to be approximately 7 million ounces.
UniTek Global Services, Inc. (Nasdaq: UNTK) 23% LOWER; The Board of Directors has formed an interim Office of CEO to be co-managed by Dan Yannantuono, CEO of DirectSat, a division of UniTek, and Ronald J. Lejman, CFO and treasurer of UniTek.
Summer Infant (Nasdaq: SUMR) 22.3% LOWER; reports FY11 preliminary sales of about $238 million and EPS of 42-44 cents. The Street is currently looking for FY11 sales of $246.4 million and EPS of 55 cents. The stock was also downgraded at Wedbush this morning.
Urban Outfitters (Nasdaq: URBN) 18.4% LOWER; announces its CEO Glen Senk is resigning. The company has named Richard Hayne as its new CEO. The stock was downgraded at Baird and Citi this morning.
Ultra Clean Holdings, Inc. (Nasdaq: UCTT) 15.7% HIGHER; now expects Q4 revenue of approximately $85 million to $86 million, an increase from guidance of $75 million to $80 million issued on October 24, 2011. The Company also announced that it expects its earnings per share will exceed the high end of its guidance of between $0.00 and $0.02 issued on October 24, 2011. The Street is modeling revs of $78.9 million and earnings of 1 cent per share.
Universal American Corp. (NYSE: UAM) 12.4% LOWER; today announced that it has entered into a definitive agreement to acquire APS Healthcare, Inc. for $227.5 million.
JinkoSolar (NYSE: JKS) 11.6% HIGHER; mentioned positively in a Deutsche Bank note this morning. The stock was one of the firm's top picks in the solar sector.
Coldwater Creek Inc. (Nasdaq: CWTR) 11.4% LOWER; Expects to report a loss per share of $0.18-$0.24 for the fourth quarter of fiscal 2011, which compares to its previous guidance of a loss of $0.13-$0.21 per share. The Street sees a loss of 17 cents per share. This compares to a loss per share of $0.40 in the fourth quarter of fiscal 2010 which included a non-cash charge of $2.9 million, or $0.03 per share, related to certain retail store asset impairments.
Hill-Rom Holdings (NYSE: HRC) 10.9% LOWER; sees Q1 sales about $381 million, which compares to the Street estimate of $392.3 million and EPS of 52-53 cents, vs. the consensus estimate of 56 cents. Cuts its FY12 adj-EPS guidance from $2.45-$2.55 to $2.45-$2.50, vs. the consensus of $2.52. The stock was downgraded to Underperform at BofA/Merrill.
Trina Solar (NYSE: TSL) 10.7% HIGHER; entire solar sector performing strongly this morning amid reports from the National Energy Administration that China is planning to double its solar market this year. China will develop 3GW of capacity this year, and take that total to 15 GW by the end of 2015.
Electronics For Imaging, Inc. (Nasdaq: EFII) 10.6% HIGHER; has acquired privately-held Cretaprint S.L., for approximately $31 million and an earn-out of up to $21 million based on growth targets for 2012 and 2013. Cretaprint, with headquarters in Castellón, Spain, is a leading developer and supplier of inkjet printers for ceramic tiles. Non-GAAP earnings per share for the three months ended December 31, 2011 are expected to be $0.34 to $0.35 per share, which includes a non-operational unfavorable currency impact of approximately $0.03, compared to earnings per share for the three months ended December 31, 2010 of $0.28 per share. The Street see EPS of 32 cents.
Supervalu, Inc. (NYSE: SVU) 10.4% LOWER; reported Q3 EPS of $0.24, in-line with the analyst estimate of $0.24. Revenue for the quarter came in at $8.3 billion versus the consensus estimate of $8.42 billion. The company reaffirmed its FY12 outlook.
Yingli (NYSE: YGE) 9.3% HIGHER; in addition to the above news item, a Deutsche Bank analyst issued a note this morning suggesting solar stocks could rally over the next month as "encouraging" pricing data on polysilicon is released.
Crocs (Nasdaq: CROX) 9.2% HIGHER; sees Q4 sales at the high end of its previously-issued range, expects to post FY11 sales over $1 billion. The Street is currently expecting FY11 sales right at $1 billion. Click here to see the full report.
China New Borun Corporation (NYSE: BORN) 28.7% HIGHER; announced that it has already signed pre-sales contracts worth a total of approximately 90% of the Company's total edible alcohol production capacity in 2012.
Hecla Mining Company (NYSE: HL) 26% LOWER; reports that the Mine Safety and Health Administration has ordered the Silver Shaft at the Lucky Friday mine in Mullan, Idaho closed for removal of built-up material in the shaft. This order is pursuant to the investigation following the December 14, 2011 rock burst. Compliance with the order is expected to take through year-end. Hecla’s 2012 silver production is now estimated to be approximately 7 million ounces.
UniTek Global Services, Inc. (Nasdaq: UNTK) 23% LOWER; The Board of Directors has formed an interim Office of CEO to be co-managed by Dan Yannantuono, CEO of DirectSat, a division of UniTek, and Ronald J. Lejman, CFO and treasurer of UniTek.
Summer Infant (Nasdaq: SUMR) 22.3% LOWER; reports FY11 preliminary sales of about $238 million and EPS of 42-44 cents. The Street is currently looking for FY11 sales of $246.4 million and EPS of 55 cents. The stock was also downgraded at Wedbush this morning.
Urban Outfitters (Nasdaq: URBN) 18.4% LOWER; announces its CEO Glen Senk is resigning. The company has named Richard Hayne as its new CEO. The stock was downgraded at Baird and Citi this morning.
Ultra Clean Holdings, Inc. (Nasdaq: UCTT) 15.7% HIGHER; now expects Q4 revenue of approximately $85 million to $86 million, an increase from guidance of $75 million to $80 million issued on October 24, 2011. The Company also announced that it expects its earnings per share will exceed the high end of its guidance of between $0.00 and $0.02 issued on October 24, 2011. The Street is modeling revs of $78.9 million and earnings of 1 cent per share.
Universal American Corp. (NYSE: UAM) 12.4% LOWER; today announced that it has entered into a definitive agreement to acquire APS Healthcare, Inc. for $227.5 million.
JinkoSolar (NYSE: JKS) 11.6% HIGHER; mentioned positively in a Deutsche Bank note this morning. The stock was one of the firm's top picks in the solar sector.
Coldwater Creek Inc. (Nasdaq: CWTR) 11.4% LOWER; Expects to report a loss per share of $0.18-$0.24 for the fourth quarter of fiscal 2011, which compares to its previous guidance of a loss of $0.13-$0.21 per share. The Street sees a loss of 17 cents per share. This compares to a loss per share of $0.40 in the fourth quarter of fiscal 2010 which included a non-cash charge of $2.9 million, or $0.03 per share, related to certain retail store asset impairments.
Hill-Rom Holdings (NYSE: HRC) 10.9% LOWER; sees Q1 sales about $381 million, which compares to the Street estimate of $392.3 million and EPS of 52-53 cents, vs. the consensus estimate of 56 cents. Cuts its FY12 adj-EPS guidance from $2.45-$2.55 to $2.45-$2.50, vs. the consensus of $2.52. The stock was downgraded to Underperform at BofA/Merrill.
Trina Solar (NYSE: TSL) 10.7% HIGHER; entire solar sector performing strongly this morning amid reports from the National Energy Administration that China is planning to double its solar market this year. China will develop 3GW of capacity this year, and take that total to 15 GW by the end of 2015.
Electronics For Imaging, Inc. (Nasdaq: EFII) 10.6% HIGHER; has acquired privately-held Cretaprint S.L., for approximately $31 million and an earn-out of up to $21 million based on growth targets for 2012 and 2013. Cretaprint, with headquarters in Castellón, Spain, is a leading developer and supplier of inkjet printers for ceramic tiles. Non-GAAP earnings per share for the three months ended December 31, 2011 are expected to be $0.34 to $0.35 per share, which includes a non-operational unfavorable currency impact of approximately $0.03, compared to earnings per share for the three months ended December 31, 2010 of $0.28 per share. The Street see EPS of 32 cents.
Supervalu, Inc. (NYSE: SVU) 10.4% LOWER; reported Q3 EPS of $0.24, in-line with the analyst estimate of $0.24. Revenue for the quarter came in at $8.3 billion versus the consensus estimate of $8.42 billion. The company reaffirmed its FY12 outlook.
Yingli (NYSE: YGE) 9.3% HIGHER; in addition to the above news item, a Deutsche Bank analyst issued a note this morning suggesting solar stocks could rally over the next month as "encouraging" pricing data on polysilicon is released.
Crocs (Nasdaq: CROX) 9.2% HIGHER; sees Q4 sales at the high end of its previously-issued range, expects to post FY11 sales over $1 billion. The Street is currently expecting FY11 sales right at $1 billion. Click here to see the full report.
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