StreetInsider.com Unusual 11 Mid-Day Movers 08/20/2007
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Scottish Re Group Ltd. (NYSE: SCT) 24.5% HIGHER; Stock moving higher with no specific news releases. However, shares have dropped over 45% since June 19, 2007.
IncrediMail, Ltd. (Nasdaq: MAIL) 16.8% HIGHER; Shares seeing a rebound after dropping 30% since July 24, 2007.
Ciphergen Biosystems, Inc. (Nasdaq: CIPH) 14.3% LOWER; Received a letter from the Nasdaq Stock Market that indicated the Company is not in compliance with Marketplace Rule 4310(c)(3), which requires it to have (i) a minimum of $2,500,000 in stockholders' equity; (ii) $35,000,000 market value of listed securities; or (iii) $500,000 of net income from continuing operations for the most recently completed fiscal year or two of the three most recently completed fiscal years.
Thornburg Mortgage, Inc. (NYSE: TMA) 10.2% LOWER; Announced the sale of a substantial portion of its AAA-rated mortgage securities portfolio and a significant reduction in its borrowings portfolio. The company took these actions to address challenges in meeting its liquidity and financing needs caused by rapidly declining mortgage securities prices and simultaneous declines in the value of its hedging instruments. Because of these actions to stabilize the company's ability to meet its financing obligations and continue its mortgage portfolio lending operation, the company estimates it will realize an approximate capital loss of $930 million as a result of mortgage securities sales for the quarter ending September 30, 2007.
KKR Financial Holdings LLC (NYSE: KFN) 8.8% HIGHER; Hosting a conference call to discuss $230.4 million common share offering and $270.0 million common share rights offering to common shareholders.
Countrywide Financial Corp. (NYSE: CFC) 8.2% LOWER; Stock falls into negative territory as markets trend lower on credit worries. AP reports the company began laying off staff.
Moody's Corp. (NYSE: MCO) 7.7% LOWER; Shares continue to decline and have dropped 30% since June 6, 2007.
Jo-Ann Stores Inc. (NYSE: JAS) 7% LOWER; Stock trading lower on light volume.
MFA Mortgage Investments Inc. (NYSE: MFA) 6.7% HIGHER; Stock seeing sporadic trading recently on credit/lending issues.
Lowe's Companies Inc. (NYSE: LOW) 6.4% HIGHER; Reports Q2 EPS of $0.67, 6 cents better than estimates. Revenues came in at $14.17 billion versus the consensus of $14.13 billion. Sees Q3 EPS of $0.43-$0.45, versus the consensus of $0.47. Sees FY08 EPS of $1.97-$2.01, versus the consensus of $1.97.
FCStone Group, Inc. (Nasdaq: FCSX) 4% LOWER; Company has assessed its exposure to Sentinel's recent sale of certain of the assets it manages, including a certain limited amount of the Company's segregated assets, to Citadel Investment Group LLC at discounts believed to be up to 30%. Sentinel has informed FCStone that it expects to distribute to FCStone at least 75% of the value of FCStone's assets held by Sentinel. Based on this information, FCStone anticipates that the resolution of Sentinel's liquidity concerns is likely to cause the Company to incur a one-time after-tax charge of approximately $3.5 million in the current quarter.
IncrediMail, Ltd. (Nasdaq: MAIL) 16.8% HIGHER; Shares seeing a rebound after dropping 30% since July 24, 2007.
Ciphergen Biosystems, Inc. (Nasdaq: CIPH) 14.3% LOWER; Received a letter from the Nasdaq Stock Market that indicated the Company is not in compliance with Marketplace Rule 4310(c)(3), which requires it to have (i) a minimum of $2,500,000 in stockholders' equity; (ii) $35,000,000 market value of listed securities; or (iii) $500,000 of net income from continuing operations for the most recently completed fiscal year or two of the three most recently completed fiscal years.
Thornburg Mortgage, Inc. (NYSE: TMA) 10.2% LOWER; Announced the sale of a substantial portion of its AAA-rated mortgage securities portfolio and a significant reduction in its borrowings portfolio. The company took these actions to address challenges in meeting its liquidity and financing needs caused by rapidly declining mortgage securities prices and simultaneous declines in the value of its hedging instruments. Because of these actions to stabilize the company's ability to meet its financing obligations and continue its mortgage portfolio lending operation, the company estimates it will realize an approximate capital loss of $930 million as a result of mortgage securities sales for the quarter ending September 30, 2007.
KKR Financial Holdings LLC (NYSE: KFN) 8.8% HIGHER; Hosting a conference call to discuss $230.4 million common share offering and $270.0 million common share rights offering to common shareholders.
Countrywide Financial Corp. (NYSE: CFC) 8.2% LOWER; Stock falls into negative territory as markets trend lower on credit worries. AP reports the company began laying off staff.
Moody's Corp. (NYSE: MCO) 7.7% LOWER; Shares continue to decline and have dropped 30% since June 6, 2007.
Jo-Ann Stores Inc. (NYSE: JAS) 7% LOWER; Stock trading lower on light volume.
MFA Mortgage Investments Inc. (NYSE: MFA) 6.7% HIGHER; Stock seeing sporadic trading recently on credit/lending issues.
Lowe's Companies Inc. (NYSE: LOW) 6.4% HIGHER; Reports Q2 EPS of $0.67, 6 cents better than estimates. Revenues came in at $14.17 billion versus the consensus of $14.13 billion. Sees Q3 EPS of $0.43-$0.45, versus the consensus of $0.47. Sees FY08 EPS of $1.97-$2.01, versus the consensus of $1.97.
FCStone Group, Inc. (Nasdaq: FCSX) 4% LOWER; Company has assessed its exposure to Sentinel's recent sale of certain of the assets it manages, including a certain limited amount of the Company's segregated assets, to Citadel Investment Group LLC at discounts believed to be up to 30%. Sentinel has informed FCStone that it expects to distribute to FCStone at least 75% of the value of FCStone's assets held by Sentinel. Based on this information, FCStone anticipates that the resolution of Sentinel's liquidity concerns is likely to cause the Company to incur a one-time after-tax charge of approximately $3.5 million in the current quarter.
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