Market Overview

Morning Movers for March 12th, 2014

Related EPL
UPDATE: Stifel Downgrades EPL Oil & Gas Following Acquisition Announcement
Benzinga's Top Downgrades
Related GERN
Mid-Day Market Update: Pitney Bowes Drops On Earnings Miss; Lumber Liquidators Shares Climb
Mallinckrodt Initiates Amyotrophic Lateral Sclerosis Study

Moving up:

  • EPL Oil & Gas (NYSE: EPL) - up 29% - Energy XXI to acquire Co. for $39/share.
  • Verifone Systems (NYSE: PAY) - up 8.2% - Reports Q1 EPS of $0.31 vs $0.27 est; revenue of $436.0M vs $429.58M est. Raises FY2014 EPS guidance from $1.35-1.40 to $1.40 vs $1.41 est.
  • Cell Therapeutics (NADSAQ: CTIC) - up 4.48% - May be trading higher amid a clinical hold on Geron's imetelstat. Traders should also watch shares of Incyte for another way to play the Geron news.
  • Rite Aid (NYSE: RAD) - up 3.7% - Upgraded by Goldman Sachs from Neutral to Buy.
  • Real Goods Solar (NASDAQ: RGSE) - up 1.7% - Extreme volatility in this one continuing into Wednesday's session. The stock surged nearly 25 percent on Monday and plunged nearly 15 percent on Tuesday's session.

Moving down:

  • Geron (NASDAQ: GERN) - down 66% - Announced today that the Co. has received verbal notice from the U.S. Food and Drug Administration (FDA) that its Investigational New Drug (IND) application for imetelstat has been placed on full clinical hold, affecting all ongoing company-sponsored clinical trials.
  • Synta Pharma (NASDAQ: SNTA) - down 16.5% - Downgraded by Stifel Nicolaus from Hold to Sell after the Co. reported EPS of $(0.31) vs $(0.30) est Tuesday morning. BMO Capital also downgraded the stock.
  • Northwest Biotherapeutics (NASDAQ: NWBO) - down 13% - Downgraded by Oppenheimer from Outperform to Perform.
  • Express (NYSE: EXPR) - down 9.3% - Reports Q4 EPS of $0.57 vs $0.59 est; revenue of $715.90M vs $722.02M est. Sees FY2014 EPS $1.03-1.23 vs $1.58 est.
  • ZBB Energy (AMEX: ZBB) - down 8.6% - Shares have rallied nearly 50 percent over the last two trading sessions; some profit taking coming in Wednesday. The co. responded following an NYSE inquiry, said policy is not to comment on unusual market activity.
  • Zogenix (NASDAQ: ZGNX) - down 20% - From Bloomberg: Purdue pill could push Co.'s rival drug off market.
  • Noranda Aluminum (NYSE: NOR) - down 6.7% - Announces secondary offering of 10M shares by Apollo.
  • FuelCell (NASDAQ: FCEL) - down 5.7% - Downgraded by Cowen from Outperform to Market Perform and raised price target from $2 to $2.7. Stifel maintains a Buy rating and raised price target from $2.30 to $4.10.
  • AK Steel (NYSE: AKS) - down 2.3% - Traders continuing to buy the stock this morning despite a slightly bearish note from Morgan Stanley earlier.

Posted-In: News Movers


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