StreetInsider.com Unusual 11 Mid-Day Movers 04/12/2007
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ECtel Ltd. (NASDAQ: ECTX) 32% LOWER; Today announced its preliminary results for the first quarter of 2007. Revenues for the first quarter of 2007 are expected to be in the range of $ 3.4-3.6 million. The revenue level in the quarter was lower than the Company's internal work plan. This follows slower than anticipated orders, mainly from countries within the Former Soviet Union, carried out through the Company's exclusive reseller in said region as well as a delay in a large order from a long standing European customer.
Mobius Management Systems (Nasdaq: MOBI) 31.6% HIGHER; Entered into a definitive merger agreement under which Allen Systems Group has agreed to acquire Mobius for $10.05 per share in cash.
China Technology Development Group (Nasdaq: CTDC) 18.1% HIGHER; Announced Beijing Holdings Limited has entered into Shares Sale and Purchase Agreements respectively with China Biotech Holdings Limited, ChinaDragon Pacific Limited and China Zhongjing Energy Investment Limited in relation to the sale and purchase of 2,009,323 common shares of the Company, of par value US$0.01 each, at US$4.00 per share. Subject to the SPAs dated April 12, 2007, China Biotech, ChinaDragon Pacific and Zhongjing Energy will each acquire 709,323 shares, 1,000,000 shares and 300,000 shares respectively.
Nautilus (NYSE: NLS) 16.8% LOWER; Now expects earnings per diluted share of $0.08-0.09 on net sales of around $160 million, compared to previous guidance of $0.18-0.21 per share on net sales of $185-195 million.
Cell Therapeutics, Inc. (Nasdaq: CTIC) 13.7% LOWER; Announced that it has entered into agreements to sell approximately $37.2 million of its 3% Convertible Preferred Stock and warrants in a registered offering to several institutional investors, including existing securities holders. Also, DOR BioPharma board members unanimously resolved to reject as inadequate for shareholders the expression of interest by Cell Therapeutics to acquire the Company and notified Cell Therapeutics of such resolutions.
Apogee Enterprises (Nasdaq: APOG) 13% HIGHER; Reports Q4 EPS of $0.32, 4 cents better than estimates.(0.28) Revenues were $206.2 million vs. $204.93 million consensus. Increased 2008 earnings guidance to $1.27 to $1.37 per share (including $0.03 from lower tax rate), versus earlier guidance of $1.20-$1.30. The consensus is $1.27.
IPSCO Inc. (NYSE: IPS) 10.6% HIGHER; Confirmed today that it is currently in discussions that could lead to a potential acquisition of the Company. There can be no assurance that any transaction will occur, or as to the timing, structure or terms of any transaction.
The Fastenal Company (NYSE: FAST) 10.2% HIGHER; Reports Q1 EPS of $0.36, 1 cent better than estimates. Revenues were $489.16 million vs. consensus of $492.59 million.
MedImmune (Nasdaq: MEDI) 10% HIGHER; said its board of directors has authorized management to evaluate whether third parties would have an interest in acquiring the company at a price and on terms that would represent a better value for its stockholders than having the company continue to execute its business plan on a stand-alone basis. Said is received indications of interest by major pharmaceutical companies.
NovaStar Financial (NYSE: NFI) 8.4% HIGHER; Received a commitment for an additional financing facility in an amount up to $100 million arranged by Wachovia Capital Markets, LLC. NovaStar also announced today that it has initiated a formal process to explore a range of strategic alternatives, including without limitation a potential sale or other change of control transactions. The Company has retained Deutsche Bank Securities Inc. to act as its financial advisor in this process.
SAIC, Inc. (NYSE: SAI) 5.1% HIGHER; Reports Q4 EPS of $0.20, 3 cents better than estimates.(0.17) Revenues were $2.1 billion vs. $2.07 billion consensus. Reaffirms forecast. The Company also announced that it will have a role in the General Services Administration's Networx Universal program as a member of the team headed by Qwest Communications International Inc. (NYSE: Q).
Mobius Management Systems (Nasdaq: MOBI) 31.6% HIGHER; Entered into a definitive merger agreement under which Allen Systems Group has agreed to acquire Mobius for $10.05 per share in cash.
China Technology Development Group (Nasdaq: CTDC) 18.1% HIGHER; Announced Beijing Holdings Limited has entered into Shares Sale and Purchase Agreements respectively with China Biotech Holdings Limited, ChinaDragon Pacific Limited and China Zhongjing Energy Investment Limited in relation to the sale and purchase of 2,009,323 common shares of the Company, of par value US$0.01 each, at US$4.00 per share. Subject to the SPAs dated April 12, 2007, China Biotech, ChinaDragon Pacific and Zhongjing Energy will each acquire 709,323 shares, 1,000,000 shares and 300,000 shares respectively.
Nautilus (NYSE: NLS) 16.8% LOWER; Now expects earnings per diluted share of $0.08-0.09 on net sales of around $160 million, compared to previous guidance of $0.18-0.21 per share on net sales of $185-195 million.
Cell Therapeutics, Inc. (Nasdaq: CTIC) 13.7% LOWER; Announced that it has entered into agreements to sell approximately $37.2 million of its 3% Convertible Preferred Stock and warrants in a registered offering to several institutional investors, including existing securities holders. Also, DOR BioPharma board members unanimously resolved to reject as inadequate for shareholders the expression of interest by Cell Therapeutics to acquire the Company and notified Cell Therapeutics of such resolutions.
Apogee Enterprises (Nasdaq: APOG) 13% HIGHER; Reports Q4 EPS of $0.32, 4 cents better than estimates.(0.28) Revenues were $206.2 million vs. $204.93 million consensus. Increased 2008 earnings guidance to $1.27 to $1.37 per share (including $0.03 from lower tax rate), versus earlier guidance of $1.20-$1.30. The consensus is $1.27.
IPSCO Inc. (NYSE: IPS) 10.6% HIGHER; Confirmed today that it is currently in discussions that could lead to a potential acquisition of the Company. There can be no assurance that any transaction will occur, or as to the timing, structure or terms of any transaction.
The Fastenal Company (NYSE: FAST) 10.2% HIGHER; Reports Q1 EPS of $0.36, 1 cent better than estimates. Revenues were $489.16 million vs. consensus of $492.59 million.
MedImmune (Nasdaq: MEDI) 10% HIGHER; said its board of directors has authorized management to evaluate whether third parties would have an interest in acquiring the company at a price and on terms that would represent a better value for its stockholders than having the company continue to execute its business plan on a stand-alone basis. Said is received indications of interest by major pharmaceutical companies.
NovaStar Financial (NYSE: NFI) 8.4% HIGHER; Received a commitment for an additional financing facility in an amount up to $100 million arranged by Wachovia Capital Markets, LLC. NovaStar also announced today that it has initiated a formal process to explore a range of strategic alternatives, including without limitation a potential sale or other change of control transactions. The Company has retained Deutsche Bank Securities Inc. to act as its financial advisor in this process.
SAIC, Inc. (NYSE: SAI) 5.1% HIGHER; Reports Q4 EPS of $0.20, 3 cents better than estimates.(0.17) Revenues were $2.1 billion vs. $2.07 billion consensus. Reaffirms forecast. The Company also announced that it will have a role in the General Services Administration's Networx Universal program as a member of the team headed by Qwest Communications International Inc. (NYSE: Q).
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