Pre-Open Stock Movers 03/10: (MM) (URBN) (LL) Higher; (ANV) (ADHD) (WPRT) Lower (more...)

March 10, 2015 9:27 AM EDT
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Allied Nevada Gold Corp. (NYSE: ANV) 71.4% LOWER; announced an agreement with certain holders of its 8.75% senior unsecured notes due 2019 and its secured bank lenders to effect a reduction in the Company's funded debt obligations and provide the Company with additional liquidity. In order to implement this financial restructuring, Allied Nevada and certain of its domestic direct and indirect subsidiaries filed voluntary petitions for relief under chapter 11 of the Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware today. Allied Nevada will continue to operate its business as a "debtor in possession" under the jurisdiction of the Bankruptcy Court and in accordance with the applicable provisions of the Bankruptcy Code and the orders of the Bankruptcy Court. Under the proposed financial restructuring, which requires Bankruptcy Court approval, Allied Nevada's trade creditors and vendors are expected to be paid in full.

Alcobra Ltd. (Nasdaq: ADHD) 18.7% LOWER; announced that its Phase II safety and tolerability study of a single administration of MDX in adolescent patients with ADHD achieved its primary endpoint. In the study, MDX showed good tolerability and no safety concerns were identified. The profile of adverse events in the MDX treated group was not different from the placebo comparator group. There were no reported cases of discontinuation from the study due to adverse events.

Resonant Inc. (NASDAQ: RESN) 10.8% HIGHER; announced it has engaged with a second customer for the design of an RF filter utilizing Resonants Infinite Synthesized Networks, or ISN technology.

Westport (NASDAQ: WPRT) 10.4% LOWER; reported Q4 EPS of ($1.02), $0.61 worse than the analyst estimate of ($0.41). Revenue for the quarter came in at $27.4 million versus the consensus estimate of $24.77 million.

Mitcham Industries, Inc. (NASDAQ: MIND) 9.4% LOWER; anticipates fourth quarter total revenues to be between $13.0 and $15.0 million and leasing revenues to be between $8.0 and $10.0 million. (Street sees Q4 revenue of $23.7 million)

Akorn (NASDAQ: AKRX) 8.4% LOWER; Actavis disclosed that it has launched an AB-rated version of Temovate, a competitor to AKRX’s clobetasol cream 0.05%

United Natural Foods (NASDAQ: UNFI) 8% LOWER; reported Q2 EPS of $0.55, $0.12 worse than the analyst estimate of $0.67. Revenue for the quarter came in at $2.02 billion versus the consensus estimate of $2.02 billion. United Natural Foods sees FY2015 EPS of $2.90-$2.99, versus the consensus of $2.97. United Natural Foods sees FY2015 revenue of $8.19-8.29 billion, versus the consensus of $8.33 billion.

Regional Managment Corp (NYSE: RM) 7.1% LOWER; reported Q4 EPS of $0.33, $0.10 worse than the analyst estimate of $0.43. Revenue for the quarter came in at $53.8 million versus the consensus estimate of $54.1 million.

Millennial Media (NYSE: MM) 6.9% HIGHER; reported Q4 EPS of ($0.02), $0.05 better than the analyst estimate of ($0.07). Revenue for the quarter came in at $96.7 million versus the consensus estimate of $73.3 million. Millennial Media sees Q1 2015 revenue of $55-58 million, versus the consensus of $66.0 million. Millennial Media sees FY2015 revenue of $275-290 million, versus the consensus of $321.15 million.

Korn/Ferry International (NYSE: KFY) 6.6% LOWER; reported Q3 EPS of $0.46, in-line with the analyst estimate of $0.46. Revenue for the quarter came in at $249.5 million versus the consensus estimate of $248.65 million. Korn/Ferry International sees FY2015 EPS of $0.44-$0.50, versus the consensus of $0.47. Korn/Ferry International sees FY2015 revenue of $255-265 million, versus the consensus of $262.24 million.

21Vianet Group (NASDAQ: VNET) 6.6% LOWER; reported Q4 EPS of ($0.43). Revenue for the quarter came in at $137.6 million.

Urban Outfitters (NASDAQ: URBN) 6.3% HIGHER; reported Q4 EPS of $0.60, $0.02 better than the analyst estimate of $0.58. Revenue for the quarter came in at $1.01 billion versus the consensus estimate of $1.01 billion. Comps rose 6 percent.

Rosetta Resources (NASDAQ: ROSE) 5% LOWER; intends to commence an underwritten public offering of 12,000,000 shares of the Company's common stock. The Company intends to use the net proceeds from this offering to repay outstanding borrowings under the Company's revolving credit facility and for general corporate purposes. The Company intends to grant the underwriter a 30-day option to purchase up to an additional 1,800,000 shares of common stock.

ZIOPHARM Oncology (NASDAQ: ZIOP) 4.3% LOWER; Mizuho Securities downgraded from Buy to Neutral after shares reached their $14 price target.

Gladstone Investment (NASDAQ: GAIN) 4.2% LOWER; has entered into an agreement to sell 3,300,000 shares of its common stock at a public offering price of $7.40 per share

Republic Airways Holdings Inc. (NASDAQ: RJET) 4.2% HIGHER; will replace Maximus in the S&P SmallCap 600

Lumber Liquidators (NYSE: LL) 3.9% HIGHER; announced an agenda for its business update conference call to be held on March 12, 2015 at 10:00 a.m. Eastern Time.

Main Street Capital (NYSE: MAIN) 3.7% LOWER; plans to make a public offering of shares of its common stock. The offering of the shares will be made under Main Street's shelf registration statement, which was filed with, and declared effective by, the U.S. Securities and Exchange Commission.

Qualcomm (NASDAQ: QCOM) 3.1% HIGHER; announced that its Board of Directors has approved a major increase in the Company's capital return program to deliver value for stockholders. Effective immediately, the Board has authorized the Company to repurchase up to $15 billion of its common stock. The $15 billion program replaces the previous program, which had a $2.1 billion authorization remaining. The Board also approved a 14 percent increase in Qualcomm's quarterly cash dividend, raising the annualized dividend payout to $1.92 per share of common stock. The cash dividend will increase from $0.42 to $0.48 per share of common stock and will be effective for quarterly dividends payable after March 25, 2015.

Qihoo 360 Technology (NYSE: QIHU) 2.9% HIGHER; reported Q4 EPS of $0.75, $0.03 better than the analyst estimate of $0.72. Revenue for the quarter came in at $431.2 million versus the consensus estimate of $417.44 million. Qihoo 360 Technology sees Q1 2015 revenue of $375-380 million, versus the consensus of $374.03 million.

Barnes & Noble (NYSE: BKS) 2.5% LOWER; reported Q3 EPS of $0.93, $0.30 worse than the analyst estimate of $1.23. Revenue for the quarter came in at $1.98 billion versus the consensus estimate of $1.92 billion.

Callon Petroleum (NYSE: CPE) 2.4% LOWER; announced that it has commenced, subject to market and other conditions, an underwritten public offering of 9,000,000 shares of its common stock. The underwriter will have an option to purchase up to an additional 1,350,000 shares of common stock from the Company. All of the shares to be sold in this offering will be sold by the Company.

Skyworks Solutions Inc. (NASDAQ: SWKS) 2% HIGHER; will replace PetSmart Inc. (NASDAQ: PETM) in the S&P 500

After the close, Imperva (NYSE: IMPV) 1.5% LOWER; announced that it is commencing an underwritten registered public follow-on offering of 3,000,000 shares of its common stock. Imperva also intends to grant the underwriters a 30-day option to purchase up to an additional 450,000 shares of its common stock.

Maximus Inc. (NYSE: MMS) 1.5% HIGHER; will replace Skyworks Solutions in the S&P MidCap 400,

MGIC Investment (NYSE: MTG) 1.4% HIGHER; BTIG initiated coverage with a Buy rating and a price target of $12.00.

SUPERVALU (NYSE: SVU) 1.4% HIGHER; Deutsche Bank upgraded from Hold to Buy with a price target of $13.00 (from $8.50). Analyst Karen Short sees favorable risk reward.

Hewlett-Packard (NYSE: HPQ) 0.6% HIGHER; UBS upgraded from Neutral to Buy with a price target of $40.00.



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