Morning Movers 6/4: RCMT, OMNI, LNG, NAVR, CMED, TEAM, MATK Higher; DDD, BTH, PKOH, STRM, EPAY, ATHN Lower

June 4, 2010 10:40 AM EDT
RCM Technologies, Inc. (NASDAQ: RCMT) 40.3% HIGHER; said its board has met with respect to the proposal by CDI Corp. to acquire all of the outstanding shares of RCM common stock for $5.20 per share, and has determined that it would not be in the best interests of the Company to pursue the transaction as presently structured by CDI Corp.

SCOLR Pharma, Inc. (AMEX: DDD) 30.7% LOWER; today announced that it will be unable to meet its previously-issued 2010 revenue expectations with respect to sales of its new line of extended-release nutritional products. The revenue outlook for 2010 was based on the expected shipment of SCOLR products to certain large accounts which place orders three times a year based on a shelf planning cycle. Due to delays in product availability, SCOLR will be unable to meet the second of these scheduled review cycles and will not be able to ship products to these large accounts in 2010.

OMNI Energy Services Corp. (Nasdaq: OMNI) 26.9% HIGHER; today announced that it has entered into a definitive agreement under which an affiliate of Wellspring Capital Management LLC will acquire all of OMNI's outstanding shares for $2.75 per share in cash. The total value of the transaction is approximately $122 million, including assumption of debt. Click here to see the full report.

Blyth, Inc. (NYSE: BTH) 16.3% LOWER; reports Q1 EPS of $0.51, ex-items, 3 cents better than the analyst estimate of $0.48. Revenue for the quarter was $201.5 million, which compares to the estimate of $218.20 million. Lowers its FY11 EPS guidance from $3.20-$3.50 to $2.90-$3.20, versus the consensus of $3.30. Sees cash flow from operations of about $60 million during 2011 and capital spending of about $10 million.

Cheniere Energy, Inc. (AMEX: LNG) 14.5% HIGHER; Cheniere Energy Partners, L.P. (AMEX: CQP), a subsidiary of Cheniere Energy, announced today that its general partner's Board of Directors has approved the initiation of a project to add liquefaction services at the Sabine Pass LNG receiving terminal in Cameron Parish, Louisiana.

Navarre (Nasdaq: NAVR) 14.4% HIGHER; reports Q4 EPS of $0.07, ex-items, 3 cents better than the analyst estimate of $0.04. Revenue for the quarter was $138.3 million, which compares to the estimate of $120.59 million. Sees FY11 sales $480 - $520 million, compared to the consensus of $510.6 million.

China Medical Technologies, Inc. (Nasdaq: CMED) 12.4% HIGHER; reports Q4 net income of $7.5 million, versus $11.8 reported for the same period a year ago. Revenue for the quarter was $25.7 million, compared to $33.23 million in Q109.

TechTeam Global, Inc. (Nasdaq: TEAM) 12.3% HIGHER; Jacobs Engineering Group Inc. (NYSE: JEC) announced today that it has signed a definitive agreement to acquire TechTeam Government Solutions, Inc., a wholly owned subsidiary of Tech Team. Click here for the full report.

Park-Ohio Holdings Corp. (Nasdaq: PKOH) 12.2% LOWER; management projected revenues for 2010 of approximately $758 million and EBITDA of approximately $60 million. Consensus sees revs of $771.70 million.

Martek Biosciences Corp. (Nasdaq: MATK) 10.9% HIGHER; reports Q1 adjusted EPS of $0.45, 12 cents better than the analyst estimate of $0.32. Revenue for the quarter was $119.1 million, which compares to the estimate of $114.76 million. Sees Q310 revs of $113 - $118 million and an EPS of $0.33 - $0.36. Consensus sees revs of $112.16 million and an EPS of $0.39.

Streamline Health Solutions, Inc. (Nasdaq: STRM) 10.8% LOWER; reports Q1 adj-loss of $0.03, inline with the analyst estimate of ($0.03). Revenue for the quarter was $3.5 million, which compares to the estimate of $4.29 million.

Bottomline Technologies (Nasdaq: EPAY) 10.4% LOWER; has priced its offering of 4.2 million shares at $14.50 per share. The firm expects net proceeds of about $57.6 million.

China Finance Online (Nasdaq: JRJC) 10.2% HIGHER; reports Q1 non-GAAP EPS of $0.08, 11 cents better than the analyst estimate of ($0.03). Revenue for the quarter was $15.2 million, which compares to the estimate of $13.50 million. Reiterates FY10 outlook.

Quicksilver (NYSE: ZQK) 9.8% HIGHER; reports Q2 EPS of $0.11, ex-items, versus the analyst estimate of $0.03. Revenue for the quarter was $468.3 million, which compares to the estimate of $455.50 million. Sees Q3 sales down in the low teens percentage.

Krispy Kreme (NYSE: KKD) 9.8% HIGHER; reports Q1 EPS of $0.06, versus $0.03 reported for the same period a year ago. Revenue for the quarter was $92.1 million, compared to $93.4 million in Q109. Raises its Fy11 operating income guidance from $10-$13 million to $11-$15 million.

athenahealth, Inc. (Nasdaq: ATHN) 8.4% LOWER; Effective July 1, 2010, David E. Robinson, Executive Vice President and Chief Operating Officer, will resign from the position of COO in keeping with the anticipated length of service under his employment agreement. Click here to see more details.

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