Morning Movers 11/13: CNIC, TSTC, NLST, AGO, SLI Higher; LIME, GMET, BIOF, DISK, MRGE, SSY Lower

November 13, 2009 10:53 AM EST
Copernic Inc. (NASDAQ: CNIC) 60.6% HIGHER; reports a Q3 loss of $0.37 compared to a loss of $0.50 for the same period last year. Revenues from continuing operations were $0.35 million for Q3 2009, compared to $0.49 million in Q3 2008, a decline of 29%. Liquidities sufficient to meet normal operating requirements until end of Q3 2010 were at $4.4 million as of September 30, 2009, compared to $5.1 million as of December 31, 2008. Also announced that it has entered into an equity private placement agreement pursuant to which Mr. John G. Simmonds, and a group of accredited private investors led by Mr. Simmonds, have agreed to acquire 500,000 Copernic restricted common shares from treasury.

Telestone Technologies Corp. (NASDAQ: TSTC) 26.5% HIGHER; reports Q3 EPS of $0.41, compared to $0.11 in the same quarter last year. Revenue for the quarter was $18.9 million, versus $8.4 million in Q308.

Netlist (Nasdaq: NLST) 25.1% HIGHER; since announcing the launch of its HyperCloud(TM), the world's first 16GB, 2 virtual rank (vRank) memory module for servers, the stock rose 50% on Wednesday and another 54% yesterday.

Lime Energy Co. (NYSE: LIME) 21.5% LOWER; reports Q3 EPS of $0.26, compared to ($0.36) reported for the same quarter last year. Lowers FY10 sales guidance to $71 - $73 million, versus $81.95 million.

Assured Guaranty (NYSE: AGO) 21.2% HIGHER; late last night, Moody's downgraded the company's credit rating from Aa2 to Aa3. However, just after, Assured Guaranty issued a note in response to the lowered credit rating. The company announced that, in order to maintain capital requirements set by Moody's, it would raise $300 million.

Geomet, Inc. (Nasdaq: GMET) 20.7% LOWER; reports Q3 loss of $1.24, versus the analyst estimate of ($0.03). Revenue for the quarter was $6.49 million, which compares to the estimate of $7.93 million.

BioFuel Energy (Nasdaq: BIOF) 18.2% LOWER; reports Q3 loss of $0.26. Revenue for the quarter was $91.1 million, versus $79.8 million in Q308.

Image Entertainment, Inc. (NASDAQ: DISK) 17.1% LOWER; reports Q3 loss of $0.07, compared to ($0.02) in the same quarter last year. Revenue for the quarter was $29.84 million, versus $32.39 million in Q308.

Merge Healthcare (NASDAQ: MRGE) 16.7% LOWER; announced today that it is offering to sell up to 9,034,033 shares of common stock in a registered direct offering to select institutional investors at a purchase price of $3.00 per share. Merge expects to enter into definitive agreements with respect to this offering later today.

SunLink Health Systems Inc. (NYSE: SSY) 15.1% LOWER; reports Q3 EPS of $0.07, compared to ($0.08) in the same quarter last year. Revenue for the quarter was $47.83 million, versus $46.68 million in Q308.

SL Industries Inc. (NYSE: SLI) 14.8% HIGHER; reports Q3 EPS of $0.31, versus the analyst estimate of $0.07 and compared to $0.15 in the same quarter last year. Revenue for the quarter was $36.4 million, which compares to the estimate of $35.37 million.

MDRNA, Inc. (Nasdaq: MRNA) 13.8% LOWER; reports Q3 loss of $0.17, compared to a loss $0.52 in the same quarter last year. Revenue for the quarter was $100,000, versus $400,000 in Q308.

ESCO Technologies Inc. (NYSE: ESE) 13.2% LOWER; reports Q3 EPS of $0.82, 5 cents better than the analyst estimate of $0.77. Revenue for the quarter was $169.45 million, which compares to the estimate of $176.05 million. The stock was also downgraded to Hold at Brean Murray.

Silicon Storage Technology, Inc. (NASDAQ: SSTI) 12.9% HIGHER; today announced that it has entered into a definitive merger agreement to be acquired by Technology Resource Holdings, Inc., a Prophet Equity LP-controlled entity, as well as by members of SST's management team. Prophet Equity LP will acquire all of the outstanding common stock of the company for $2.10 per share, except for shares held by Bing Yeh, SST's Chairman and Chief Executive Officer, and Yaw Wen Hu, SST's Executive Vice President and Chief Operating Officer and member of the Board of Directors, who have agreed to exchange all of their shares of SST common stock for shares of capital stock of the resulting privately held company. This price per share represents approximately a 13 percent premium to the closing price per share of SST's stock on November 12, 2009.

RINO International Corporation (NASDAQ: RINO) 12.1% HIGHER; reports Q3 adjusted EPS of $0.78, versus the analyst estimate of $0.47. Revenue for the quarter was $63.3 million, which compares to the estimate of $44.22 million.

Ambac Financial (NYSE: ABK) 11.9% HIGHER; paring losses today following yesterday's 7.5% slide. Not hearing any company-specific news that would justify today's move higher.

Sutor Tech Group Ltd. (NASDAQ: SUTR) 11.9% LOWER; reports Q1 EPS of $0.01, versus the analyst estimate of $0.05. Revenue for the quarter was $123.8 million, which compares to the estimate of $94.82 million.

SORL Auto Parts, Inc. (NASDAQ: SORL) 11.8% LOWER; reports Q3 EPS of $0.21, 8 cents better than the analyst estimate of $0.13. Revenue for the quarter was $34 million, which compares to the estimate of $30.15 million.

Lexicon Pharmaceuticals, Inc. (NASDAQ: LXRX) 10.8% HIGHER; announced today that the company's investigational new drug, LX1031, a tryptophan hydroxylase (TPH) inhibitor, demonstrated positive results in clinically important parameters for the treatment of non-constipating irritable bowel syndrome (IBS). Top-line results showed that treatment with one gram of LX1031 four times daily produced a statistically significant improvement in global assessment of relief of IBS pain and discomfort over the four-week dosing period as compared to placebo (p=0.0465). Improvements in global assessment parameters also corresponded with statistically significant improvements in stool consistency. Notably, increased clinical response correlated with a greater reduction in serotonin synthesis as reflected by measures of urinary 5-HIAA, a breakdown product of serotonin.

Cybex International (Nasdaq: CYBI) 8.9% HIGHER; B. Riley upgrades the stock from Neutral to Buy.

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