Hudson Technologies, Inc. (Nasdaq: HDSN) 26% LOWER; announced preliminary results for the second quarter and the six months ended June 30, 2013. The Company expects to report revenues for the three months ended June 30, 2013 of approximately $15.5 million and net income per share in the range of approximately $0.00 to $0.01 on a fully diluted basis, compared to revenues in the second quarter of last year of $22 million and net income per share of $0.20 on a fully diluted basis. For the six months ended June 30, 2013, Hudson expects to report revenues of approximately $38 million and net income per share of approximately $0.17 to $0.18 on a fully diluted basis, compared to revenues for the first six months of last year of $37 million and net income per share of $0.29 on a fully diluted basis. The Street sees EPS of $0.12.
Achillion Pharmaceuticals, Inc. (Nasdaq: ACHN) 22.9% LOWER; received notice from the U.S. Food and Drug Administration (FDA) that a clinical hold has been placed on sovaprevir after elevations in liver enzymes associated with significantly higher than anticipated exposures to atazanivir and sovaprevir were noted in a Phase 1 healthy subject drug-drug interaction (DDI) study evaluating the effects of concomitant administration of sovaprevir with ritonavir-boosted atazanavir. The FDA has allowed continued enrollment and treatment of patients in the Phase 2 -007 clinical trial evaluating 12-weeks of sovaprevir in combination with ACH-3102 and ribavirin for patients with treatment-naive genotype 1 hepatitis C viral infection (HCV).
LINN Energy, LLC (Nasdaq: LINE) 11.1% LOWER; LINN Energy, LLC and LinnCo, LLC (Nasdaq: LNCO) announced that they have been notified by the staff of the Securities and Exchange Commission (“SEC”) that its Fort Worth Regional Office has commenced a private, non-public inquiry regarding LINN and LinnCo. The SEC has requested the preservation of documents and communications that are potentially relevant to, among other things, LinnCo’s proposed merger with Berry Petroleum Company, and LINN and LinnCo’s use of non-GAAP financial measures and hedging strategy. The SEC has stated that the fact of the inquiry should not be construed as an indication that the SEC or its staff has a negative view of any entity, individual or security. LINN and LinnCo are cooperating fully with the SEC in this matter.
Schulman (NASDAQ: SHLM) 10.2% LOWER; reported Q3 EPS of $0.50, $0.15 worse than the analyst estimate of $0.65. Revenue for the quarter came in at $548 million versus the consensus estimate of $576.1 million. Schulman sees FY2013 EPS of $1.70-$1.80, versus prior guidance of $2.08-$2.13 and the consensus of $2.01.
LinnCo, LLC (Nasdaq: LNCO) 10.1% LOWER; LINN Energy, LLC and LinnCo, LLC announced that they have been notified by the staff of the Securities and Exchange Commission (“SEC”) that its Fort Worth Regional Office has commenced a private, non-public inquiry regarding LINN and LinnCo. The SEC has requested the preservation of documents and communications that are potentially relevant to, among other things, LinnCo’s proposed merger with Berry Petroleum Company, and LINN and LinnCo’s use of non-GAAP financial measures and hedging strategy. The SEC has stated that the fact of the inquiry should not be construed as an indication that the SEC or its staff has a negative view of any entity, individual or security. LINN and LinnCo are cooperating fully with the SEC in this matter.
Fresenius Medical Care (NYSE: FMS) 8.7% LOWER; reports the U.S. Medicare program plans to cut payments to dialysis centers by 9.4% next year, according to a proposal posted online Monday afternoon. Cuts are part of a budget balancing law passed last year.
DaVita HealthCare Partners Inc. (NYSE: DVA) 7.6% LOWER; reports the U.S. Medicare program plans to cut payments to dialysis centers by 9.4% next year, according to a proposal posted online Monday afternoon. Cuts are part of a budget balancing law passed last year.
Zynga Inc. (Nasdaq: ZNGA) 5.9% HIGHER; appointed Don Mattrick as Chief Executive Officer and a member of the Board of Directors, effective July 8, 2013. Mattrick has been at the forefront of the industry and brings more than 30 years of executive experience developing, building and managing profitable entertainment businesses. Mark Pincus, Zynga’s founding chief executive officer, remains Chairman of the Board of Directors and Chief Product Officer of the Company.
LDK Solar Co., Ltd. (NYSE: LDK) 5.7% LOWER; announced the sale of 25,000,000 newly issued ordinary shares of LDK Solar to Fulai Investments Limited, at a purchase price of $1.03 per share with an aggregate purchase price of $25,750,000, pursuant to the share purchase agreement dated April 25, 2013.
Xyratex, Ltd. (NASDAQ: XRTX) 4.6% HIGHER; reported Q2 EPS of $0.10, $0.15 better than the analyst estimate of ($0.05). Revenue for the quarter came in at $216.2 million versus the consensus estimate of $203.16 million. Sees Q3 2013 EPS of $-0.04-$0.20, versus the consensus of $0.09. Xyratex, Ltd. sees Q3 2013 revenue of $195-$225 million, versus the consensus of $223.09 million.
Alliance Fiber Optic Products, Inc. (Nasdaq: AFOP) 4.4% HIGHER; announced its preliminary sales for the quarter ending June 30, 2013. These results are subject to change as a result of final management review and closing adjustments for the quarter ending on June 30, 2013. For the 2nd quarter of 2013, the Company expects to report sales above $19 million, which represents over 55% sequential growth and is higher than $16 million of the revised revenue guidance issued on May 22, 2013. In addition, customer demands remained strong till the end of quarter. (Street see Q2 revenue of $16.20 million (1 estimate.))
Array BioPharma Inc. (Nasdaq: ARRY) 4.4% HIGHER; announced that a $5 million milestone was achieved after the start of Array’s Phase 3 clinical trial in patients with low-grade serous ovarian cancer (LGSOC).
Nielsen Holdings N.V. (NYSE: NLSN) 4.2% HIGHER; will replace Sprint Nextel Corp. (NYSE: S) in the S&P 500 after the close of trading on Monday, July 8. SoftBank Corp. is acquiring a substantial stake in Sprint in a deal expected to be completed soon pending final approvals. As a result of the transaction, Sprint’s public float is expected to fall substantially below the 50% public float criteria necessary for continued inclusion in the index.
Silicon Motion Technology Corporation (Nasdaq: SIMO) 4% LOWER; announces that based upon its preliminary financial results, revenue for the second quarter is expected to be flat as compared to the revenue for the first quarter, below the company’s original guidance issued on April 26, 2013, of up 5 to 10%. Gross margin (non-GAAP) is expected to be in the 47 to 49% range, above the company’s guidance of 45 to 47%. The Street sees looking for Q2 revs of $61.4 million.
Quiksilver (NYSE: ZQK) 3.2% HIGHER; B. Riley upgraded from Neutral to Buy with a price target of $9.25 (from $6.70).
Ruckus Wireless (NYSE: RKUS) 2.3% HIGHER; Piper Jaffray initiates coverage with an Overweight. PT $17.00.
Constellation Brands (NYSE: STZ) 1.7% LOWER; reported Q1 EPS of $0.38, $0.03 worse than the analyst estimate of $0.41. Revenue for the quarter came in at $673 million versus the consensus estimate of $674.24 million. Sees FY2014 EPS of $2.60-$2.90, versus the consensus of $2.82
Transocean Ltd. (NYSE: RIG) 1.7% LOWER; Citi downgraded from Buy to Neutral
Goldcorp Inc. (NYSE: GG) 1.7% LOWER; Jefferies downgraded from Hold to Underperform with a price target of $19.
Newmont Mining Corporation (NYSE: NEM) 1.7% LOWER; efferies downgraded from Hold to Underperform with a price target of $18.
Groupon, Inc. (NASDAQ: GRPN) 0.8% HIGHER Wunderlich Securities initiates coverage with a Buy. PT $11.00.
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