05/12 StreetInsider.com Unusual 11 Mid-Day Movers
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Threshold Pharmaceuticals, Inc. (Nasdaq: THLD) 76% LOWER; Said as a result of abnormalities observed in liver enzyme levels in 6 subjects in ongoing clinical trials, the FDA has placed the US TH-070 program on partial clinical hold and has requested that the Company provide additional information related to the drug's acceptable dose and duration of treatment in BPH patients. Several Brokerage firms have downgraded the stock this morning.
Speedus Corp. (Nasdaq: SPDE) 36.75% HIGHER; Announced that its unit CellularVision Technology & Telecommunications, L.P. (CT&T) filed suits on May 11 against Cellco Partnership (d/b/a Verizon Wireless). Verizon Wireless is a joint venture of Verizon Communications (NYSE: VZ) and Vodafone (NYSE: VOD). The suits address technologies now used by Verizon to transmit television to wireless users over cellular networks and the simultaneous transmission of analog and digital signals within the same bandwidth.
Expedia Inc. (Nasdaq: EXPE) 22.6% LOWER; reports Q1 EPS of $0.15, 7 cents worse than estimates.(0.22) Revenues were $493.9 million vs. $543.8 million consensus. Company announces 20 million share buyback.
Magnetek, Inc. (NYSE: MAG) 19.8% LOWER; Company confirms Q3 loss of $0.15 and revenue of $57.2 million in a press release. Magnetek has engaged Stephens Inc. to assist management in evaluating various cash-raising alternatives, which may include asset sales and capital market transactions.
Management Network Group Inc. (Nasdaq: TMNG) 17% HIGHER; Kaufman Brothers upgraded the stock from Hold to Buy with a $4 price target. The company also reported Q1 results.
Escala Group Inc. (Nasdaq: ESCL) 16.1% HIGHER; Stock bounces after getting slashed since Tuesday, when news surfaced Spanish police raided the office of stamp investment companies Forum Filatelico and Afinsa Bienes Tangible SA as part of a fraud probe. Afinsa is the parent of Escala Group. The stock is down from $32 per share since news of the raid broke.
RPC Inc. (NYSE: RES) 11.6% LOWER; James Lane files to sell 75,000 shares
Imclone Systems Inc. (Nasdaq: IMCL) 11% HIGHER; on reports from CNBC's David Faber, Lazard said their are four bidders for the company.
Barr Pharmaceuticals (NYSE: BRL) 8.3% LOWER; received a Non-Final Rejection notice from the Patent and Trademark Office (PTO) regarding its application for reissue of U.S. Patent 5,898,032 ('032) relating to its SEASONALE� extended-cycle oral contraceptive.
Jackson Hewitt Tax Service Inc. (NYSE: JTX) 6.3% HIGHER; Company expects to report total revenues for FY06 of $273 to $275 million, as compared to its prior expectation of $260 to $265 million. Current consensus is $262.24 million. JTX also guided higher for FY06 EPS.
Analog Devices (NYSE: ADI) 4.2% HIGHER; reports Q2 EPS of $0.41 (ex-items), 2 cents better than estimates.(0.40) Revenues were $643.9 million vs. $644.34 million consensus. Sees Q3 revenues between $675-685 million vs. $664.6 million consensus. Sees Q3 EPS between $0.38-0.39 (including $0.06 stock expense) vs. $0.43 consensus.
Speedus Corp. (Nasdaq: SPDE) 36.75% HIGHER; Announced that its unit CellularVision Technology & Telecommunications, L.P. (CT&T) filed suits on May 11 against Cellco Partnership (d/b/a Verizon Wireless). Verizon Wireless is a joint venture of Verizon Communications (NYSE: VZ) and Vodafone (NYSE: VOD). The suits address technologies now used by Verizon to transmit television to wireless users over cellular networks and the simultaneous transmission of analog and digital signals within the same bandwidth.
Expedia Inc. (Nasdaq: EXPE) 22.6% LOWER; reports Q1 EPS of $0.15, 7 cents worse than estimates.(0.22) Revenues were $493.9 million vs. $543.8 million consensus. Company announces 20 million share buyback.
Magnetek, Inc. (NYSE: MAG) 19.8% LOWER; Company confirms Q3 loss of $0.15 and revenue of $57.2 million in a press release. Magnetek has engaged Stephens Inc. to assist management in evaluating various cash-raising alternatives, which may include asset sales and capital market transactions.
Management Network Group Inc. (Nasdaq: TMNG) 17% HIGHER; Kaufman Brothers upgraded the stock from Hold to Buy with a $4 price target. The company also reported Q1 results.
Escala Group Inc. (Nasdaq: ESCL) 16.1% HIGHER; Stock bounces after getting slashed since Tuesday, when news surfaced Spanish police raided the office of stamp investment companies Forum Filatelico and Afinsa Bienes Tangible SA as part of a fraud probe. Afinsa is the parent of Escala Group. The stock is down from $32 per share since news of the raid broke.
RPC Inc. (NYSE: RES) 11.6% LOWER; James Lane files to sell 75,000 shares
Imclone Systems Inc. (Nasdaq: IMCL) 11% HIGHER; on reports from CNBC's David Faber, Lazard said their are four bidders for the company.
Barr Pharmaceuticals (NYSE: BRL) 8.3% LOWER; received a Non-Final Rejection notice from the Patent and Trademark Office (PTO) regarding its application for reissue of U.S. Patent 5,898,032 ('032) relating to its SEASONALE� extended-cycle oral contraceptive.
Jackson Hewitt Tax Service Inc. (NYSE: JTX) 6.3% HIGHER; Company expects to report total revenues for FY06 of $273 to $275 million, as compared to its prior expectation of $260 to $265 million. Current consensus is $262.24 million. JTX also guided higher for FY06 EPS.
Analog Devices (NYSE: ADI) 4.2% HIGHER; reports Q2 EPS of $0.41 (ex-items), 2 cents better than estimates.(0.40) Revenues were $643.9 million vs. $644.34 million consensus. Sees Q3 revenues between $675-685 million vs. $664.6 million consensus. Sees Q3 EPS between $0.38-0.39 (including $0.06 stock expense) vs. $0.43 consensus.
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