2011 May

MBIA, Discovery Laboratories, and DynaVox Show Gains Amid Flat Market

Early morning trading on the big boards is mixed after a trio of bad economic reports came out. Initial claims missed, PPI was decidedly ugly and retail sales were off. Commodity prices continued to slump, but gas stations evidently didn’t receive the memo as the average price rose 2 cents overnight. Internationally the EU continues to deal with the debt issues of the peripheral countries – namely Portugal and Greece. The IMF issued a warning that the core Eurozone countries remain exposed to the debt contagion posed by the peripheral countries. Amid all of this uncertainty several stocks have been on the rise this morning.

DynaVox Inc. (NASDAQ:DVOX) shares rose sharply this morning climbing $1.92 to $7.97 per share. DVOX is up on huge volume with over 700 thousand shares traded in midday trading. DynaVox reported net sales of $28.7 million in its 3Q, a 1% rise from the same period last year. The company which specializes in communication products for individuals with significant speech, language, and learning disabilities saw sales of its speech generating devices rise 1.3%.

Discovery Laboratories, Inc (NASDAQ:DSCO) shares are on the rise this morning up 25% at $2.71 per share. Nearly 5.3 million shares have been traded this morning, well above its average daily volume of 400 thousand shares. in Discovery Laboratories stock. The increase comes as the company reported its 1Q results and updated some of its selected pipeline developments. One such developments is the Aerosolization Technology in which a collaborative study indicated that the Aerosolized KL4 surfacant significantly improved Lung function and survival in the treatment of Acute Lung Injuries. Discovery Laboratories hopes to seek regulatory guidance from the US and Europe this year.

Oxigene Inc. (NASDAQ:OXGN) shares have climbed this morning rising 16% to $5.71 per share. The rise in Oxigene stock comes in conjunction with the announced initiation of Phase 1 trial of OXi4503. OXi4503 is a next generation anticancer agent that will be administered in patients with acute Myelogenous Leukemia and Myelodysplastic syndrome. The Leukemia and Lymphoma and Society will provide study support.

Top Image Systems, Rovi, Level 3 Communications rally Against a Down Market

After three straight days of rallying the market is down so far this morning. The Dow is down 74 points this morning, a drop of nearly .6%. The other indecies are faring no better as the Nasdaq is down 7.6 points or .3%, and the S&P 500 is down 7 points or .5% as well. A multitude of factors has led to the decline this morning including oil futures down 2.75% leading to a dip in energy stocks. On the NYSE side of the market Disney has taken a hit as profit has decreased in the most recently reported quarter. There are several rallying stock despite the overall trend of the market.

Rovi Corporation (Nasdaq:ROVI) shares have jumped this morning rising $10.07 to $59.75 with an intraday high of $60.84. The 20% increase has lead to heavier than normal volume as nearly 6.7 million shares have exchanged hands this morning. The company reported a net income of $17 million or $.15 per share. Profit totaled $.61 per share with a revenue of $161.5 million, analysts had expected $.52 per share and revenue of $179.8 million. Rovi raised its full year outlook after the acquisition of Sonic Solutions from $2.25 to $2.55 per share.

Top Image Systems, Ltd. (Nasdaq:TISA) has soared up this morning rising $.75 per share to $2.10. This near 57% increase has lead to a phenomenal increase in volume as 1.7 million shares have been traded so far. This is huge difference as the average daily volume for Top Image is about 39K shares. The increase from Top Image comes as 1Q results are in. Revenue increased some 36% to $7.2 Million. Net Income for the quarter was $.74 million or $.07 per share compared to a loss of $1.1 million in the same quarter last year. Top Image system is increasing its annual guidance to 20-25% for organic revenues and profitability to 23% up from 17%.

Level 3 Communications, Inc (Nasdaq:LVLT) has shown positive movement this morning as shares have risen $.11 per share to $1.89. The 6% increase has led to some 60 Million shares being traded this morning. This is nearly double the average daily traded volume for Level 3 communications. The driving force behind the volume and increase in Level 3 shares is the fact the Level 3 has been selected to be a provider for of content delivery services for the new HBO Go Mobile app delivery initiative. The application is available on Apple’s (Nasdaq:AAPL)  iPad, iPhone, iPod touch, and select Android devices. Level 3 Communications will provide its experience, expertise and network capacity for delivering high bandwidth intensive content.

Pro-Dex, CKX and Fossil Lead the Way for Gaining Stocks

Stocks are showing some movement this morning as all major indicies are in the black and gaining slightly. The Dow is up 58 points this morning equalling an increase of .48%. The Nasdaq and S&P 500 are showing some slightly positive signs as both have risen to over .50%. Most of the market action seems to be on the heels of the skype buyout and continuing debt issues coming out of Europe. While gains have been somewhat tame there are several companies that are performing extremely well.

Pro-Dex, Inc. (Nasdaq:PDEX) shares soared this morning climbing $1.03 to $3.43 per share this morning. The 42% increase in the stock has also led to a huge leap in volume as nearly 800K shares have been traded up from the relatively small amount, 13K, Pro-Dex is accustomed to seeing. Pro-Dex’s increase comes in conjunction of the release of 3Q financials in which Net income for the quarter was 868,000 or $.26 per share; a near 400% increase from 3Q 2010.

CKX, Inc. (Nasdaq:CKXE) shares are on the rise this morning gaining $1.01 to $5.46 per share. Just over 30 million shares have been traded so far and that is approaching 1000% increase in average daily trading volume. The climb seen by CKX this morning comes from the news that U.S. private equity firm Apollo Management has struck a deal to purchase the owner of the pop talent show American Idol. Apollo Management agreed to pay $5.50 per share of CKX stock, a 24% premium. CKX also owns the rights to names and images of Elvis Presley and Muhammad Ali.

Fossil, Inc. (Nasdaq:FOSL) shares have climbed to a new high today before settling back a little in a climb that sent shares skyward up $11.38 to $105.38 with an intraday high of $106.57. The 12% increase has lead to 2.1 million shares traded heading in to midday trading. Fossil earned $55.8 million or .$86 per share compared to $35.9 million/$.53 per share a year ago.  Analyst were expecting roughly $.66 per share.

While these three companies are showing strong gains; Microsoft Corporation (Nasdaq: MSFT) is in the news spotlight today. Microsoft, the computer software giant, has agreed purchase Skype Technologies for $8.5 billion in cash. This will allow Microsoft to integrate Skype’s low cost telephone and free video chat service to its Bing search engine, Xbox videogame console, and its windows smart phones. This move provides Microsoft an outlet to compete with Google’s Voice and Apple’s Facetime chat applications.

SCEI Leads the Way for Nasdaq Stocks

As trading heads into midday trading the Nasdaq Composite is making modest gains as it has risen .63% up 17.95 points this morning to 2,845. Some investors have fears as the S & P lowered Greece’s Credit Levels from B to BB- on news that European Leaders believe additional funds may be required to help or Greece may need to restructure its debt. These deterring factors has not sent the Nasdaq into the red. There are some stocks that are rallying amid the uncertainty in the market today.

Sino Clean Energy, Inc (Nasdaq:SCEI) shares have risen 21.90% this morning climbing $.46 to $2.56 per share.  Sino Clean Energy has experienced a large increase in volume today as well as some 5 million shares have been traded to dwarf the average daily traded volume of 490K shares. The rise comes on news that Sino Clean Energy’s Board of Directors has authorized a $20 million stock repurchase plan of the companies shares. Sino Clean Energy Board of Directors feels that the repurchase program is in the best interest of the shareholders.

Rosetta Resources Inc. (Nasdaq:ROSE) shares have soared this morning climbing just over 21% .  While rising $8.63 to $49.73 per share Volume has more than doubled as 1.6 million shares have been traded heading into midday trading.  Rosetta Resources rise has come on news that its 1Q results were up from the same period last year. During the 1Q which ended March 31, 2011 Rosetta reported a net income of $11 million ($.21 per share) up from $7.3 million ($.14 per share) during the 1Q of 2010.

Fuwei Films Co. (Nasdaq:FFHL) shares have shown strong gains this morning climbing up 29%. The $.82 gain to $3.60 per share has come on double volume as nearly 350K shares have exchanged hands amongst investors. The rise in Fuwei Films comes as the controlling shares of the BOPET plastic film manufacturer has been transferred to the Weifang State-Owned Assets Operation Administration Company. Fuwei Films believes that 52.9% of the company is now controlled by the “Administration Company”.

3 NYSE Movers – C, SYY, DTG

The markets are slightly up from neutral today heading into mid-day trading. The Dow Jones is currently at 12,649.18 up 10.44 points this morning a change of .08%. The Nasdaq has risen a modest .17% this morning. The neutrality of markets is based on multiple factors; commodities prices are on the rise but a new report from Zillow suggest the housing crash is getting worse predicting an 8% dercrease in home prices this year.  Despite the stagnation reflected in the market so far this morning some indexes have strong gainers.

Gainers for the NYSE are led by a huge but deceiving mover,  a Company besting quarterly estimates, and a company in the midst of bidding war to buyout its shares.

Citigroup, Inc (NYSE:C) stock is the biggest mover since the close of the market on May 6, while rising a remarkable 875% up $39.56 per share. This move from afar looks inviting, but looks can be deceiving. Citigroup has actually lost today and is down over all as it instituted its reverse split 10-1 to reduce the number of outstanding shares from 29 million to 2.9 million. So the actual numbers look more like a 2.5% decrease for Citigroup.

Sysco Corporation (NYSE:SYY) has seen shares rise this morning increasing by 12.40% a rise of $3.52 per share. While climbing to just over $32 per share with an intraday high of $32.76 per share Sysco corp set a new 52 week high with the gains it has seen today. The increase that Sysco has seen come on the heels that the latest quarterly numbers have beaten Wall Street earnings estimates. Sysco reported a net income of $.44 per share up from $.42 per share a year ago. Sales Increased 9% to $9.76 billion up from estimates of $9.48 billion.

Dollar Thrifty Automotive Group Inc. (NYSE:DTG) shares have jumped this morning climbing 12.63% to $78.50 per share.  With a Jump of $8.80 per share Dollar Thrifty has seen nearly 2.1 million of shares traded as the Intraday high $79.15 also set a new 52 week high. This increase comes as news of a higher bid to buyout the company has been announced by Hertz (NYSE: HTZ). The bid includes $57.60 per share and 0.8546 shares of Hertz common stock. With 31.2 million shares of Dollar thrifty available the Hertz bid is worth roughly S2.25 Billion and 3.3% above Dollar Thrifty’s previous close. This bid comes as Hertz attempts to stave off efforts of its rival Avis(Nasdaq: CAR) to acquire the Oklahoma based Dollar Thrifty.

Market Rallies as Jobs Report Surprises

The markets are rallying today on the positive jobs report that was released today. Private employers added 268,000 jobs and when you take into account job cuts from the government, the economy added 244,000 jobs last month. This number came as a surprise to Wall Street as analysts were predicting around 185,000 for the month. The unemployment rate did rise however to 9% from 8.8%. This rise was caused by more people who resumed looking for work last month. Stocks across the board are having a good day as the market as a whole is up. Let’s take a look at some of the biggest percentage gainers so far today.

Nature’s Sunshine Products, Inc. (NASDAQ:NATR) is up nearly 22% today after the company released their Q1 financial results this morning. NATR is currently trading at $10.00 with an intraday high of $10.25. Nature’s Sunshine Products net sales increased 7% from the previous year going from $86.8 million in Q1 2010 to $92.8 million in Q1 2011. The company’s net income per share this quarter was $0.43 compared to $0.31 for the same quarter last year. Overall, Nature’s Sunshine Products Q1 results were positive across the board.

Shares of Vringo, Inc. (AMEX:VRNG) are up 20% at $2.23 with an intraday high of $2.25. VRNG is trading over double its daily volume with over 83 thousand shares traded. The company announced yesterday that they have launched their new Facetones product on the Android Market. Vringo expects to integrate their new product with other social networks and photo sites in the near future.

Oxigene Inc. (NASDAQ:OXGN) is up 20% today at $2.84 after the company announced Q1 earnings conference call for May 12, 2011. OXGN was as high as $3.11 on huge volume today with over 4 million shares traded. Looks like traders are buying up shares leading up to the conference call. Depending on if they have good or bad results, OXGN should be interesting to watch in the next couple of weeks.

After yesterday’s sharp sell-off into today’s job report, the unexpectedly good news has helped to send stocks higher. Commodity prices have also recovered a little bit today, but I think I speak for every consumer who wishes that oil continues its sharp decline.

Polypore International Shares Jump on 1Q Results

Polypore international, Inc (NYSE:PPO) shares rose this morning $10.30 to $65.61 per share. Volume is on the rise as well as nearly 2.5 million shares have exchanged hands on today’s increase of nearly 19%. The average daily traded volume is 736,000 shares.

Polypore 1Q results are in and they are a very positive sign. Polypore reported a net income of $25.7 million or $.55 per share. That is a sharp increase from the $17.5 million or $.38 per share in the same quarter last year. Revenue for the 1Q also grew up to $185.7 million from $145.3 million a year ago.  The results bested analyst forecast of earnings of $.39 per share and a revenue of $165.2 million.

Polypore saw rises throughout the companies segments. The most notable increases include a 35% rise in the energy storage segment while the separations media segment rose 12%

About Polypore Inc.
Polypore International, Inc., a technology filtration company, develops, manufactures, and markets microporous membranes used in separation and filtration processes. It operates in two segments, Energy Storage and Separations Media.

Kendle International Shares Soar as Buyout Looms

Kendle International, Inc. (NASDAQ:KNDL) shares have soared this morning rising $5.49 to $14.99 per share. The near 58% jump this morning has led to some impressive volume as 3.2 million shares have been traded so far which is a far more than the average daily volume of 150K shares.

This mornings jump in price for Kendle International is due to an agreed buyout proposal. INC Research, a clinical research operation owned by Avista Capital Partners, has agreed to purchase Kendle International for $232 million in an all cash transaction. The agreed upon price of $15.25 per share is a 60.5% premium over Kendle’s previous close. The combined company will know be based out of Raleigh, NC and maintain about 5,000 employees.

“The combination of INC Research and Kendle will enable us to deliver broader capabilities and reach a critical mass for the emerging drug development outsourcing and alliance partnership models,” said James Ogle, CEO of INC Research. “Together, we bring complementary strengths and expand the breadth and depth of services and expertise that are most valuable to our customers.”

Kendle already has a presence in Raleigh from its’ 2006 purchase of the Cary-based late stage clinical trial division of Charles River Laboratories.

About Kendle International
Kendle International Inc., a clinical research organization, provides Phase I-IV clinical development services on a contract basis to the biopharmaceutical industry worldwide. The company operates through tw segments: Early Stage and Late Stage.

Green Mountain Coffee Shares Soar on 2Q Results

Green Mountain Coffee Roasters Inc. (NASDAQ:GMCR) shares climbed skyward this morning rising $12.38 to $76.45 per share.  The near 20% increase has led to heavier than normal volume as 6.5 million shares have been moved already this morning, Compared to average daily volume of 4.1 million shares.

Green Mountain Coffee’s revenue more than doubled in the 2Q to help the coffee seller to post better than expected earnings. With earnings of $65.4 million or $.44 per share Green Mountain bested 2Q results from a year ago. Revenue surged to $647.7 million up from $322 million.

“We believe healthy post-holiday in-store brewer inventory levels and positive word of mouth from enthusiastic Keurig owners combined to help drive a very strong fiscal second quarter for Green Mountain Coffee Roasters,” said Lawrence J. Blanford, president and CEO.

Green Mountain coffee Made headlines earlier this year as it came to an agreement with Starbucks to begin selling its brand of specialty coffees in single serving sizes that would fit the Keurig Brewing system.

About Green Mountain Coffee roasters
Green Mountain Coffee Roasters, Inc. operates in the specialty coffee industry in the United States and internationally. It sells approximately 200 whole bean and ground coffee selections, cocoa, teas, and coffees.

Varian Shares Jump on Buyout News

Varian Semiconductor Equipment, Inc. (NASDAQ:VSEA) shares have jumped this morning rising $20.74 to $61.29 per share as it heads into midday trading. The 51% increase comes as nearly 21 million shares have exchanged hands this morning this is a huge increase from the average daily volume of 1.2 million shares that normally change hands.

The sharp increase that has been seen by Varian is due to the news Applied Materials, Inc. (NASDAQ:AMAT) has agreed to buy Varian for $4.9 billion in cash. Applied Materials agreed to pay $63 per share of Varian stock. this is a 55% premium over Tuesdays closing pricing of $40.55. In Varian’s most recent quarter they posted a net income of $82.3 million up from $38.6 million a year ago, revenue also jumped up to $330 million from $204 million.

“Varian is a great fit for our strategy to profitably grow share in our core semiconductor business with best-in-class technology and talent,” Mike Splinter, chairman and chief executive officer of Applied Materials, said in an statement. The merger has been approved by both companies’ board of directors.

Appleid Materials, Inc. shares are down slightly this morning falling $.29 per share a drop of 1.9%.

About Varian Semiconductor
Varian Semiconductor Equipment Associates, Inc. designs, manufactures, markets, and services semiconductor processing equipment used in the fabrication of integrated circuits to the semiconductor manufacturers worldwide.

Cognex Corporation Shares Climb on Positive 1Q

Cognex Corporation (NASDAQ:CGNX) shares have soared this morning climbing nearly 17.5% heading into the midday trading hours. The per share price has climbed to $36.68 a rise of nearly $5.61 per share. Volume has also increased dramatically as 1.3 million shares have been traded so far a stark increase from the 357,000 in average daily traded volume.

Cognex reported $13.6 million  or $.32 per share in 1Q profit was up from $8.5 million or $.22 per share in the same quarter a year ago. Revenue rose 26% to $74.4 million up from $59 million. CEO Robert Willett said Cognex expects to report strong revenue and profit growth in the second quarter, compared with this year’s first quarter. He didn’t give a specific profit forecast, but said he expects to report revenue ranging from $79 million to $82 million.

About Cognex
Cognex Corporation, together with its subsidiaries, provides machine vision products that capture and analyze visual information to automate tasks, primarily in manufacturing processes. It operates in two divisions, Modular Vision Systems and Surface Inspection Systems.

Herbalife Shares Jump as 1Q Results Are In

Herbalife Ltd Common Stock (NYSE:HLF) Shares have climbed up over one hundred dollars per share to $101 per share heading into midday trading. The $10.75 increase equates to a 12% increase as nearly 1.6 million shares have been moved so far.  This uptick in volume is three times the average daily traded volume over the last three months.

Herbalife’s shares increase comes as 1Q results show a near 69% increase in net income globally. Herbalife posted 1Q net income of 87.6 million or $1.41 per share, analyst were expecting $1.22 per share. Sales rose 28.5% $795.1 from 618.6 led by increases in Mexico of 45%.  China and the Asia Pacific markets also experienced high increase as sales shot up 41% there.

Herbalife said it expects 2Q a net income of $1.42 to $1.48 while analyst forecast $1.43. “The company’s strategic focus to provide solutions for two large mega trends, the global obesity epidemic and the desire for people to earn more income, continues to provide a large platform for us to succeed,” CEO Michael O. Johnson said in a statement.

About Herbalife Ltd.
Herbalife Ltd., a network marketing company, sells weight management, nutritional supplement, energy, sports and fitness, and personal care products worldwide. It offers science based products in four principal categories: weight management; targeted nutrition; energy, sports, and fitness; and outer nutrition.

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