Close

Morning Movers 04/18: (CHSI) (OPHC) (ADY) (SEED) Higher; (IN) (GNW) (ARNA) Lower

April 18, 2012 11:45 AM EDT
Catalyst Health Solutions, Inc. (Nasdaq: CHSI) 31.3% HIGHER; announced a deal with SXC Health Solutions. Under the terms of the agreement, Catalyst shareholders will receive $28.00 in cash and 0.6606 shares of SXC stock for each Catalyst share, which implies a purchase price of $81.02 per Catalyst share

OptimumBank Holdings (Nasdaq: OPHC) 26.7% HIGHER; the insanity continues in this momo play. The stock is retaking the $3 level today on very heavy volume. Since the end of March, the stock has swung from about $0.75 to a high over $5, then back down to about $1.40, etc.

Intermec, Inc. (NYSE: IN) 25.4% LOWER; announced that due in part to significantly weaker than expected demand in Europe, the Company estimates Q1 2012 consolidated revenue to be approximately $180 million, down from its previously forecasted revenue range of $200 to $210 million. (Consensus estimate is $207.13 mln) In addition, the Company updated its adjusted diluted earnings (loss) per share guidance for the first quarter to approximately ($0.24) per diluted share, based on currently estimated first quarter GAAP loss of approximately ($0.28) per diluted share. (consensus is $0.04 profit)

Genworth Financial, Inc. (NYSE: GNW) 22% LOWER; announced a new timeframe for completing its planned minority IPO of up to 40 percent of its Australian mortgage insurance business. The plan is to complete the IPO by the beginning of 2013, compared to prior plans of the IPO release in the second quarter of 2012. The delay in timiing is due to the recent perfomance from Australian lenders.

Arena Pharma (Nasdaq: ARNA) 17.2% LOWER; continuing lower following a nearly 5 percent decline on Monday and a 6 percent decline on Tuesday.

Feihe International (NYSE: ADY) 14.4% HIGHER; continuing to hold above a key technical level today. Shares are up nearly 30 percent over the last four trading sessions.

Origin Agritech (Nasdaq: SEED) 11.4% HIGHER; shares are continuing higher following a late-day move yesterday over the 200-day SMA following a 13D filing which showed a large shareholder Dr. Han Gengchen boosted his stake in the company to 19.14 percent.

Tucows (NYSE: TCX) 11.1% LOWER; continuing lower following a 7.6 percent decline on Monday and a 5.3 percent decline on Tuesday.

Clearwire (Nasdaq: CLWR) 10.6% LOWER; stock decline sharply after pushing to the $1.80 level. The news may be related to news Verizon (NYSE: VZ) will conduct an open sale for all 700-MHz A and B spectrum licenses.

Ivanhoe Mines (NYSE: IVN) 10.3% HIGHER; announced today that it has agreed to proceed with a rights offering to holders of common shares of Ivanhoe Mines to raise up to approximately $1.8 billion in gross proceeds as part of a memorandum of agreement with majority shareholder Rio Tinto.

EnerNOC (Nasdaq: ENOC) 10.1% LOWER; traders taking profits following a 16 percent surge yesterday amid news National Grid has selected to the company to manage natural gas consumption in NYC.

Chesapeake Energy (NYSE: CHK) 9.8% LOWER; Reuters reports that Chesapeake Energy's CEO has made some moves, on a personal level, that are raising red flags. According to the report, Aubrey McClendon, has essentially borrowed/leveraged as much a $1.1 billion (in the past few years) against his stake in thousands of company wells. Click here to see the full report.

Cenveo (NYSE: CVO) 8.5% HIGHER; CRT Capital initiated coverage on the stock with a Buy. PT $4.75.


Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In





Related Categories

Special Reports

Related Entities

Aubrey McClendon, Morning Movers, 13D, Earnings