Pre-Open Stock Movers 12/10: (BLT) (LOJN) (OLLI) Higher; (AIXG) (MW) (CIEN) Lower (more...)
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Blount International, Inc. (NYSE: BLT) 82.5% HIGHER; announced that it has entered into a definitive agreement to be acquired by affiliates of American Securities LLC (American Securities) and P2 Capital Partners, LLC (P2 Capital Partners) in an all-cash transaction valued at approximately $855 million, including the assumption of debt. Blount is a global manufacturer and marketer of replacement parts, equipment, and accessories for consumers and professionals operating in three market segments: Forestry, Lawn, and Garden (FLAG); Farm, Ranch, and Agriculture (FRAG); and Concrete Cutting and Finishing (CCF). Under the terms of the proposed transaction, Blount shareholders will receive $10.00 in cash for each share of Blount common stock they hold. This represents a premium of 86% to the Companys closing stock price on December 9, 2015, the last trading day before the announcement of the proposed transaction.
LoJack Corporation (NASDAQ: LOJN) 48.2% HIGHER; CalAmp (NASDAQ: CAMP) announced that it has made an offer to acquire all of the outstanding shares of common stock of LoJack Corporation (NASDAQ: LOJN) for $5.50 per share in cash, in a transaction valued at approximately $113 million.
AIXTRON SE (NASDAQ: AIXG) 30.7% LOWER; has reached an agreement with its Chinese customer San'an Optoelectronics regarding a substantial reduction in the volume of AIX R6 MOCVD systems ordered from 50 to the three which have already been delivered. Despite the efforts made by both parties, the customer's specific qualification requirements were not achieved. Both parties agreed to continue their existing partnership by cooperating on future system generations as well as on systems for other applications. AIXTRON will proceed in marketing and the further development of the AIX R6 Showerhead technology. The focus is now on existing customers that have already achieved or are in the process of achieving qualification.
Men's Wearhouse (NYSE: MW) 22.5% LOWER; reported Q3 EPS of $0.50, in-line with the analyst estimate of $0.50. Revenue for the quarter came in at $865.4 million versus the consensus estimate of $876.81 million.
Ciena (NYSE: CIEN) 15.6% LOWER; reported Q4 EPS of $0.42, $0.03 better than the analyst estimate of $0.39. Revenue for the quarter came in at $692 million versus the consensus estimate of $683.56 million.
AMSC (NASDAQ: AMSC) 14.3% HIGHER; announced updated financial guidance for its third fiscal quarter ending December 31, 2015. The company now expects its revenues to be in the range of $22 million to $24 million for the third quarter of fiscal 2015, which is higher than its previous guidance of $19 million to $22 million. The improved outlook on third quarter revenues is driven primarily by higher than anticipated revenues in the companys Wind segment. As a result of the higher than anticipated revenues, the company now expects its net loss to be less than $4.5 million, or $0.33 per share, compared to its previous forecast of less than $5.5 million or $0.40 per share. The companys non-GAAP net loss is now expected to be less than $7.5 million or $0.54 per share, compared to its previous forecast of less than $8.5 million or $0.62 per share. Please refer to the financial table below for a reconciliation of GAAP to non-GAAP forecasted results. (Street sees Q3 EPS of -$0.61 on revenue of $20.53 million).
Ollie's Bargain Outlet (NASDAQ: OLLI) 7.8% HIGHER; reported Q3 EPS of $0.11, $0.03 better than the analyst estimate of $0.08. Revenue for the quarter came in at $174.6 million versus the consensus estimate of $169.22 million. GUIDANCE: Ollie's Bargain Outlet sees FY2016 EPS of $0.66, versus the consensus of $0.62. Ollie's Bargain Outlet sees FY2016 revenue of $745 million, versus the consensus of $740.04 million.
First Solar, Inc. (Nasdaq: FSLR) 7.7% LOWER; announced full year 2016 financial guidance. Forecasted net sales for 2016 are $3.9 to $4.1 billion, with solar power systems net sales expected to comprise 90% to 95% of the total and third party module sales the remainder. Earnings per share is forecasted to be $4.00 to $4.50 per share, including a gain from the expected sale of an equity method investment and the Companys share of 8point3 earnings. The ending net cash balance is projected to increase by the end of 2016 to $2.0 to $2.3 billion. Capital expenditures of $300 to $400 million are higher than 2015 forecasted levels as the Company invests in further advancements in its cost and technology roadmap. (Street sees FY16 EPS of $3.98 on revenue of $4.09 billion)
XOMA (NASDAQ: XOMA) 7% HIGHER; XOMA (US) and Pfizer Inc. entered into a settlement and amended license agreement, pursuant to which XOMA granted a fully-paid, royalty-free, worldwide, irrevocable, non-exclusive license rights to XOMA’s patented bacterial cell expression (BCE) technology for phage display and other research, development and manufacturing of antibody products for an upfront, non-dilutive cash payment by Pfizer of $3.8 million in full satisfaction of all obligations to XOMA under the 2007 Agreement (defined below), including but not limited to potential milestone, royalty and other fees under the 2007 Agreement.
Anika Therapeutics, Inc., (NASDAQ: ANIK) 5% LOWER; announced that the U.S. Food & Drug Administrations (FDA) Office of Combination Products has assigned CINGAL® to the Center for Drug Evaluation and Research (CDER) as the lead center for premarket review.
FMC Technologies Inc (NYSE: FTI) 4.9% HIGHER; French oilfield services company Technip is exploring a sale and has held talks with U.S. peer FMC Technologies Inc (NYSE: FTI) about a potential combination, according to people familiar with the matter - Reuters
CyberArk Software (NASDAQ: CYBR) 4.8% HIGHER; JPMorgan upgraded from Underweight to Overweight with a price target of $48.00.
Parsley Energy, Inc. (NYSE: PE) 4.6% LOWER; announced that it has commenced an underwritten public offering of 8,500,000 shares of its Class A common stock by the Company and 850,000 shares of its Class A common stock by NGP X US Holdings, L.P., one of the Company’s stockholders. Also, announced that it has entered into an agreement to acquire certain undeveloped acreage and producing oil and gas properties located adjacent to the Company’s existing operating areas in Upton, Reagan, and Glasscock Counties, TX for an aggregate purchase price of $148.5 million in cash (subject to customary purchase price adjustments).
Kite Pharma, Inc. (Nasdaq: KITE) 3.6% LOWER; announced the pricing of an underwritten public offering of 3,625,000 shares of its common stock at a price to the public of $69.00 per share.
Ctrip.com (NASDAQ: CTRP) 3.5% HIGHER; The Priceline Group Inc. (NASDAQ: PCLN) today announced that it has agreed to invest an additional $500 million in Ctrip.com International, Ltd. (NASDAQ: CTRP), China's leading online travel company, through a convertible bond.
GoPro, Inc. (NASDAQ: GPRO) 2.6% HIGHER; Apple takeover speculation coming from an FBR analyst.
Intra-Cellular Therapies, Inc. (Nasdaq: ITCI) 0.8% HIGHER; announced additional data from the first Phase 3 clinical trial of ITI-007 for the treatment of patients with schizophrenia (ITI-007-301) and the ITI-007 Positron Emission Tomography (PET) study in patients with schizophrenia at the 54th annual meeting of the American College of Neuropsychopharmacology (ACNP) in Hollywood, Florida.
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