Unusual 11 Mid-Day Movers 07/12: (IGOI) (WBMD) (ALXN) Higher; (CERE) (WAVX) (LEE) Lower
iGO, Inc. (Nasdaq: IGOI) 48.9% HIGHER; entered into a definitive Stock Purchase and Sale Agreement with Steel Excel Inc. (OTCBB: SXCL) pursuant to which Steel will commence a cash tender offer to purchase up to 44.0% of the outstanding shares of the Company's common stock on a fully-diluted basis at a price of $3.95 per share.
Ceres (Nasdaq: CERE) 26.2% LOWER; reported Q3 EPS of ($0.38), $0.07 worse than the analyst estimate of ($0.31). Revenue for the quarter came in at $1.4 million versus the consensus estimate of $1.05 million.
WebMD Health Corp. (Nasdaq: WBMD) 26.7% HIGHER; issued strong preliminary Q3 results today. Sees revs of $124 to $125 million and EPS of $0.05. Street was looking for revs of $117 million and a flat loss.
Alexion Pharm (Nasdaq: ALXN) 18.0% HIGHER; ripping on chatter than Roche (OTCBB: RHHBY) might place a bid for the company. Shares rose as much as 24 percent on the session.
Wave Systems Corp. (Nasdaq: WAVX) 16.0% LOWER; traders taking some profit following a 35 percent rise on Thursday.
Lee Enterprises (NYSE: LEE) 14.9% LOWER; continuing lower after moving 41 percent to $2.91 on Wednesday. Might be some profit-taking here too.
Alnylam Pharmaceuticals (Nasdaq: ALNY) 14.8% HIGHER; Deutsche Bank today maintained a Buy rating on Alnylam and raised its price target from $40 up to $60.
Spreadtrum Communications, Inc. (Nasdaq: SPRD) 12.7% HIGHER; will be acquired by Tsinghua Unigroup Ltd. for $31 per ADS. For more color, click here.
Sprint (NYSE: S) 12.0% HIGHER; JANCO Partners raised its rating on Sprint from Buy to Strong Buy with a price target of $9.
RealD (NYSE: RLD) 9.9% LOWER; lower as Dougherty & Co. cut its rating on the stock from Buy to Neutral. For more color, click here.
pSivida Corp. (Nasdaq: PSDV) 7.4% LOWER; lower today again after announcing interim data on Thursday from an investigator-sponsored Phase I/II study of pSivida’s injectable micro-insert in patients with posterior uveitis. The same micro-insert is being marketed in the EU as ILUVIEN for the treatment of chronic Diabetic Macular Edema (DME) considered insufficiently responsive to available therapies by pSivida’s collaborative partner, Alimera Sciences.
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