Unusual 11 Mid-Day Movers 07/15: (LEAP) (IQNT) (FFEX) Higher; (INGR) (MDXG) (FHCO) Lower
Leap Wireless International Inc. (Nasdaq: LEAP) 112.3% HIGHER; will be acquired by AT&T Inc. (NYSE: T) for $15 per share. Click here for more color.
Inteliquent, Inc. (Nasdaq: IQNT) 33.2% HIGHER; announced that it is revising its 2013 financial estimates as follows: Revs - $215 million to $225 million; Adjusted EBITDA - $57 million to $62 million; and CapEx - $12 million to $16 million. The Street sees FY13 revs of $205.7 million and EPS of $0.23.
Frozen Food Express Industries (Nasdaq: FFEX) 21.8% HIGHER; Frozen Food Express and Duff Brothers Capital Corporation today announced they have entered into a definitive agreement pursuant to which Duff Brothers Capital Corporation will offer to acquire all of the outstanding shares of common stock of FFE (except shares owned by its affiliates) for $2.10 in cash per share of common stock. Duff Brothers Capital Corporation is wholly owned by Thomas and James Duff, who also indirectly own KLLM Transport Services, LLC. The transaction, which values FFE at approximately $38.2 million in equity value, was unanimously approved by the FFE Board of Directors.
Taylor Capital Group, Inc. (Nasdaq: TAYC) 21.1% HIGHER; will be acquired by MB Financial (Nasdaq: MBFI) for $22 per share. Click here for more color.
LDK Solar (NYSE: LDK) 18.7% HIGHER; China solars higher as the country plans to support about 10-GW of panel installations each year for the next three years. Other incentives were announced as well.
Suntech Power Holdings (NYSE: STP) 17.8% HIGHER; also higher on new China solar initiatives. See LDK Solar above.
Ingredion Incorporated (NYSE: INGR) 10.1% LOWER; provided expected EPS for the second quarter and an updated outlook for full year 2013. Sees Q2 EPS of $0.15 - $0.20 and FY13 EPS of $5.10 - $5.40. The Street is at Q2 EPS of $1.34 and FY13 EPS of $5.86.
MiMedx Group (Nasdaq: MDXG) 10.1% LOWER; lower following a bearish SeekingAlpha article. For more color, click here.
The Female Health Co. (Nasdaq: FHCO) 7.5% LOWER; provided information regarding its financial expectations for the third quarter of FY2013. The Company announced that while it expects the quarter ended June 30, 2013 (third quarter of FY2013) to be profitable, unit shipments, revenue and operating income will trail prior-year levels. For the first nine months of FY2013, the Company expects to report higher unit shipments, revenue, and operating income relative to the corresponding period of the previous fiscal year.
dex media (Nasdaq: DXM) 6.6% LOWER; filed a registration with the U.S. SEC to sell, from time to time, up to 4,920,030 shares of its Common Stock on behalf of Selling Shareholders. The company will not receive proceeds from the secondary sales.
Ceres, Inc. (Nasdaq: CERE) 6.4% LOWER; continuing lower after reporting Q3 loss of 38 cents per share last Friday, while consensus views called for a loss of 31 cents per share.
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