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Unusual 11 Mid-Day Movers 4/28: SURG, CTHR, PVFC, LBIX, ISSI Higher; CTBK, JST, IKAN, HTCH Lower

April 28, 2010 12:23 PM EDT
City Bank Lynnwood (Nasdaq: CTBK) 79.4% LOWER; today marks the first day of trading since the Nasdaq halted the stock on April 19.

Synergetics USA, Inc., (Nasdaq: SURG) 37.3% HIGHER; announced today the signing of a pair of agreements with Alcon Laboratories, Inc. (NYSE: ACL) granting Alcon a license to sell certain products manufactured by Synergetics for worldwide distribution on a co-exclusive basis throughout the extensive Alcon network and covering the terms of supply of such products to Alcon by Synergetics. The agreements also settle all litigation between Synergetics and Alcon.

Charles & Colvard, Ltd. (NASDAQ: CTHR) 26.5% HIGHER; reports Q1 EPS of $0.02, versus a loss of $0.07 reported for the same period a year ago. Revenue for the quarter was $2.85 million, compared to $2.49 million in Q109.

Jinpan International Ltd. (NYSE: JST) 24.4% LOWER; reports prelim. Q1 EPS of $0.07, versus the analyst estimate of $0.27. Revenue for the quarter was $19.6 million, which compares to the estimate of $33.18 million.

PVF Capital Corp. (Nasdaq: PVFC) 23.2% HIGHER; reports Q1 EPS of $0.14, versus the analyst estimate of ($0.15) and versus ($1.10) reported in the same quarter last year.

Leading Brands Inc. (Nasdaq: LBIX) 21.6% HIGHER; reports Q1 EPS of $0.30, versus the analyst estimate of ($0.04) and compared to ($1.42) in the same quarter last year. Revenue for the quarter was $20.53 million, which compares to the estimate of $3.42 million.

Ikanos Communications (Nasdaq: IKAN) 21.4% LOWER; the company's President and CEO, Michael Gulett resigned. The company also named Diosdado Banatao as Chairman. Sees Q1 sales of $57-$58 million.

Hutchinson Technology (Nasdaq: HTCH) 21.1% LOWER; reports a Q2 loss of $0.67 vs. the analyst estimate of ($0.11). Revenue for the quarter was $87.6 million, which compares to the estimate of $98.78 million. Regarding the company's outlook, Kathleen Skarvan, president of the Disk Drive Components Division, said that based on expected share gains, the company's fiscal 2010 third quarter shipments should be relatively flat compared to the fiscal 2010 second quarter despite a projected seasonal decline in disk drive shipments. Skarvan also noted that projections for calendar 2010 unit shipments of disk drives continue to strengthen and the company is well positioned to gain market share on customer programs expected to ramp to higher volume.

Conexant Systems Inc. (Nasdaq: CNXT) 20.5% LOWER; reports Q2 core EPS of $0.12, 3 cents better than the analyst estimate of $0.09. Revenue for the quarter was $61.9 million, which compares to the estimate of $61.40 million. Sees Q3 sales of $60-$61 million, versus the consensus of $60.6 million, on EPS of $0.05-$0.06, vs. the consensus of $0.09.

Integrated Silicon Solution Inc. (Nasdaq: ISSI) 16.7% HIGHER; reports Q2 EPS of $0.27, 3 cents better than the analyst estimate of $0.24. Revenue for the quarter was $57 million, which compares to the estimate of $57.70 million. Sees Q3 sales of $64-$70 million and EPS of $0.44-$0.50. The Street is currently looking for Q3 sales of $62.30 million and EPS of $0.28, respectively.

Silicon Image (Nasdaq: SIMG) 13.5% HIGHER; reports Q1 loss of $0.05, 2 cents better than the analyst estimate of ($0.07). Revenue for the quarter was $34.3 million, which compares to the estimate of $31.05 million. Sees Q2 sales of $37-$39 million, versus the consensus of $37.9 million.

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