Morning Movers 03/08: (VRS) (STLY) (MDVN) (TEAR) Higher; (ZLTQ) (SIGM) (DNDN) Lower
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Verso Paper (NYSE: VRS) 62.3% HIGHER; following Q4 results yesterday morning, shares have jumped over the $1.25 level today. The company announced a $345 million debt offering last night.
Stanley Furniture (Nasdaq: STLY) 22.7% HIGHER; disclosed in a Form 8-K late last night the company expects to receive a ~$40 million distribution related to the Continued Dumping and Subsidy Offset Act of 2000. The company could also receive about $2.7 million in added funds from the Act.
Medivation, Inc. (Nasdaq: MDVN) 18.5% HIGHER; moves higher on positive positive prostate cancer results from Johnson & Johnson's (NYSE: JNJ) Zytiga. The trial was stopped early due to positive efficacy.
TearLab (Nasdaq: TEAR) 17.3% HIGHER; continuing higher this week following a nearly 16 percent jump on Monday and another 12 percent rise yesterday. Shares are holding above the $2 technical level and the 200-day SMA.
Mueller Water Products, Inc. (NYSE: MWA) 16.3% HIGHER; has signed a definitive purchase agreement to divest United States Pipe and Foundry Company, LLC and Fast Fabricators, LLC to an affiliate of Wynnchurch Capital, Ltd. Under the terms of the agreement, USP Holdings Inc., an affiliate of Wynnchurch, will acquire 100 percent of the equity interests in U.S. Pipe for $89.8 million in cash, subject to post-closing adjustments, and the agreement to reimburse Mueller Water Products for certain liabilities, currently estimated at $10.2 million.
Threshold Pharma (Nasdaq: THLD) 15.1% HIGHER; reported a Q4 loss of 11 cents per share, better than the analyst estimate of a 14 cent per share loss. Sales totaled $62 million.
Sequenom, Inc. (NASDAQ: SQNM) 14.2% HIGHER; reported Q4 EPS of ($0.22), $0.03 worse than the analyst estimate of ($0.19). Revenue for the quarter came in at $15.5 million versus the consensus estimate of $15.8 million.
Oclaro (NASDAQ: OCLR) 14.1% HIGHER; BWS Financial upgraded Oclaro from Hold to Buy.
Kratos Defense & Security (NASDAQ: KTOS) 13.3% HIGHER; reported Q4 EPS of $0.17, $0.16 better than the analyst estimate of $0.01. Revenue for the quarter came in at $218.2 million versus the consensus estimate of $230.71 million. Sees FY2012 revenue of $950-$1000 million, versus the consensus of $940 million. KeyBanc upgraded the stock earlier.
Cardero Resources (AMEX: CDY) 12.6% HIGHER; traders buying the dip today following a nearly 20 percent dip over the last two weeks of trading. Volume is notably heavy today. Gold is up more than $11 per ounce this morning.
Zeltiq Aesthetics (Nasdaq: ZLTQ) 11.2% LOWER; the stock is continuing lower following Q4 results and FY12 guidance on Tuesday. Shares plunged nearly 34 percent on that day, and another 11 percent on Wednesday.
Sigma Designs, Inc. (NASDAQ: SIGM) 10.4% LOWER; reported Q4 EPS of ($0.43), $0.13 worse than the analyst estimate of ($0.30). Revenue for the quarter came in at $35.6 million versus the consensus estimate of $37.75 million.
Dendreon Corporation (Nasdaq: DNDN) 10.1% LOWER; is getting hit in early-morning action on positive prostate cancer results from Johnson & Johnson (NYSE: JNJ) rival drug Zytiga. The trial was stopped early due to positive efficacy.
Stanley Furniture (Nasdaq: STLY) 22.7% HIGHER; disclosed in a Form 8-K late last night the company expects to receive a ~$40 million distribution related to the Continued Dumping and Subsidy Offset Act of 2000. The company could also receive about $2.7 million in added funds from the Act.
Medivation, Inc. (Nasdaq: MDVN) 18.5% HIGHER; moves higher on positive positive prostate cancer results from Johnson & Johnson's (NYSE: JNJ) Zytiga. The trial was stopped early due to positive efficacy.
TearLab (Nasdaq: TEAR) 17.3% HIGHER; continuing higher this week following a nearly 16 percent jump on Monday and another 12 percent rise yesterday. Shares are holding above the $2 technical level and the 200-day SMA.
Mueller Water Products, Inc. (NYSE: MWA) 16.3% HIGHER; has signed a definitive purchase agreement to divest United States Pipe and Foundry Company, LLC and Fast Fabricators, LLC to an affiliate of Wynnchurch Capital, Ltd. Under the terms of the agreement, USP Holdings Inc., an affiliate of Wynnchurch, will acquire 100 percent of the equity interests in U.S. Pipe for $89.8 million in cash, subject to post-closing adjustments, and the agreement to reimburse Mueller Water Products for certain liabilities, currently estimated at $10.2 million.
Threshold Pharma (Nasdaq: THLD) 15.1% HIGHER; reported a Q4 loss of 11 cents per share, better than the analyst estimate of a 14 cent per share loss. Sales totaled $62 million.
Sequenom, Inc. (NASDAQ: SQNM) 14.2% HIGHER; reported Q4 EPS of ($0.22), $0.03 worse than the analyst estimate of ($0.19). Revenue for the quarter came in at $15.5 million versus the consensus estimate of $15.8 million.
Oclaro (NASDAQ: OCLR) 14.1% HIGHER; BWS Financial upgraded Oclaro from Hold to Buy.
Kratos Defense & Security (NASDAQ: KTOS) 13.3% HIGHER; reported Q4 EPS of $0.17, $0.16 better than the analyst estimate of $0.01. Revenue for the quarter came in at $218.2 million versus the consensus estimate of $230.71 million. Sees FY2012 revenue of $950-$1000 million, versus the consensus of $940 million. KeyBanc upgraded the stock earlier.
Cardero Resources (AMEX: CDY) 12.6% HIGHER; traders buying the dip today following a nearly 20 percent dip over the last two weeks of trading. Volume is notably heavy today. Gold is up more than $11 per ounce this morning.
Zeltiq Aesthetics (Nasdaq: ZLTQ) 11.2% LOWER; the stock is continuing lower following Q4 results and FY12 guidance on Tuesday. Shares plunged nearly 34 percent on that day, and another 11 percent on Wednesday.
Sigma Designs, Inc. (NASDAQ: SIGM) 10.4% LOWER; reported Q4 EPS of ($0.43), $0.13 worse than the analyst estimate of ($0.30). Revenue for the quarter came in at $35.6 million versus the consensus estimate of $37.75 million.
Dendreon Corporation (Nasdaq: DNDN) 10.1% LOWER; is getting hit in early-morning action on positive prostate cancer results from Johnson & Johnson (NYSE: JNJ) rival drug Zytiga. The trial was stopped early due to positive efficacy.
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