Unusual 11 Mid-Day Movers 06/04: RCMT, OMNI, CMED, NAVR, MATK, TEAM Up; DDD, BTH, OMX, EPAY, WL Down

June 4, 2010 12:43 PM EDT
RCM Technologies, Inc. (Nasdaq: RCMT) 36.6% 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) 35.9% 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) 25.9% 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.

China Medical Technologies, Inc. (Nasdaq: CMED) 20.1% 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.

Navarre (Nasdaq: NAVR) 19.7% 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.

Blyth, Inc. (NYSE: BTH) 18.6% 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.

Martek Biosciences Corp. (Nasdaq: MATK) 16.3% 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.

TechTeam Global, Inc. (Nasdaq: TEAM) 13.4% 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.

OfficeMax Inc. (NYSE: OMX) 11.2% LOWER; down as nonfarm payroll adds today failed to live up to the Street consensus. Office Depot, Inc. (NYSE: ODP) is also down 6.22% today.

Bottomline Technologies (Nasdaq: EPAY) 10.9% 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.

Wilmington Trust Corporation (NYSE: WL) 9.9% LOWER; after the market yesterday announced that Chairman and Chief Executive Officer ("CEO") Ted T. Cecala has decided to retire after 31 years with the Company. The Board elected Director Donald E. Foley, 58, to succeed Mr. Cecala as CEO, effective immediately.

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