12/12/13 02:15:42 PM
Movers: MIMEDX GROUP, INC., GRAY TELEVISION INC., LULULEMON ATHLETICA INC.
MIMEDX GROUP, INC.(MDXG) : MDXG prices 5M common shs at $6.80/sh, has granted underwriters 30-day option to purchase up to an additional 750K common shs to cover over-allotments, if any. Separately, MDXG says Medicare contractor CGS confirmed co.'s wound care allograft, EpiFix, received reimbursement coverage from CGS, which now brings total Medicare Administrative Contractors covering EpiFix to six of the eight, 86% of Medicare beneficiaries will now be eligible for coverage for EpiFix products.
GRAY TELEVISION INC.(GTN) : Barrington re-establishes coverage of GTN with outperform. Co. notes analyst comments.
LULULEMON ATHLETICA INC.(LULU) : LULU posts $0.45 vs. $0.39 Q3 EPS on 5% higher same-store sales, 20% sales rise. For Q4, expects net revenue of $535M-$540M based on flat comp store sales on a constant basis, EPS of $0.78-$0.80. Says outlook for Q4 is being impacted by both macro and execution issues. Capital IQ consensus forecast was $0.84 Q4 EPS, $573.57M revenue. Jefferies cuts target, maintains hold.
PROGRESS SOFTWARE CORP.(PRGS) : JMP Securities downgrades PRGS to market perform from market outperform. Co. no news, notes JMP downgrade.
ZALE CORPORATION(ZLC) : Northcoast reportedly upgrades ZLC to buy from neutral. Further details, co. unavailable.
IMMUNOCELLULAR THERAPEUTICS, LTD.(IMUC) : IMUC says the Phase II clinical trial evaluation of ICT-107, IMUC's vaccine for patients with newly diagnosed glioblastoma multiforme (GBM), failed to show a statistically significant benefit in the primary endpoint of overall survival. MLV & Co. downgrades to hold from buy.
ARC GROUP WORLDWIDE, INC.(ARCW) : ARCW says it formed a new division, 3D Material Technologies LLC , which is focused on utilizing ARCW's experience in 3D printing, rapid prototyping, short run production, and tooling to dramatically reduce customers' "time to market."
PROTHENA CORPORATION PLC(PRTA) : ROCHE, PRTA to develop, commercialize antibodies that target alpha-synuclein, incl. PRX002, PRTA's monoclonal antibody for treatment of Parkinson's. PRTA will receive upfront payment, NT clinical milestone totaling $45M, is also eligible to receive up to $380M upon achievement of development, regulatory and first commercial sales milestones plus up to an additional $175M in ex-U.S. commercial milestone payments. Credit Suisse, RBC Capital raise targets, keep outperform.
SUPERTEL HOSPITALITY, INC.(SPPR) : SPPR anounces the suspension of the regular dividends on its outstanding preferred stock to preserve capital and improve liquidity.
SIGMA DESIGNS, INC.(SIGM) : SIGM posts $0.10 vs. $0.28 Q3 non-GAAP EPS on 15% lower revenue. Needham downgrades to hold from buy.
SUNEDISON, INC.(SUNE) : SUNE cuts its semiconductor revenue forecast to $205M-$215M from $220M-$230M for Q4 '13, and to $905M-$915M from $920M-$930M for the full 2013 year. Says, in an effort to retain more LT project value, SUNE has elected to keep additional solar plants on its balance sheet rather than sell them. SUNE also said, due to continued market weakness, it now expects Q4 unit volumes in its semiconductor business to be below prior expectations. S&P Capital IQ maintains strong buy.
EXELIS INC.(XLS) : EXLS says it has been selected by BOEING to produce composite airframe substructures for the 787 Dreamliner, effective immediately.
VIVUS INC.(VVUS) : VVUS enters into a License and Commercialization Agreement with SANOFI to commercialize avanafil on an exclusive basis in Africa, the Middle East, Turkey, and the Commonwealth of Independent States (CIS), incl. Russia. SNY will be responsible for obtaining regulatory approval in its territories. VVUS is eligible to receive up to $61M in upfront payments, regulatory and sales milestones, will also receive escalating royalties based on net sales over life of agreement.
CIENA CORPORATION(CIEN) : CIEN posts $0.16 Q4 non-GAAP EPS vs. $0.07 loss on 25% revenue rise. Capital IQ consensus forecast was $0.24 EPS. Expects Q1 revenue of $515M-$545M. S&P Capital IQ maintains strong buy.
DANAHER CORP.(DHR) : DHR reaffirms Q4 adj. EPS guidance of $0.91-$0.96, $3.37-$3.42 for '13. Capital IQ consensus forecast was $0.96 Q4 EPS, $3.41 '13.
CANADIAN SOLAR INC.(CSIQ) : CSIQ announces it has been awarded a module supply agreement to provide Zhenfa New Energy Science & Technology Co., Ltd. with photovoltaic (PV) modules totaling 100MW for three solar power projects located in Gansu Province and one solar project in Inner Mongolia Autonomous Region of China. CSIQ will supply about 400,000 pieces of its high efficiency CS6P245P, CS6P250P and CS6P-255P modules with power output of 245Wp, 250Wp and 255Wp for the projects.
ATHENAHEALTH, INC.(ATHN) : ATHN reaffirms '13 non-GAAP EPS, revenue guidance to be in the range of $$1.05-$1.15, $580M-$615M, respectively. For '14, initiates non-GAAP EPS, revenue guidane in the range of $0.98-$1.10, $725M-$755M revenue. Capital IQ consensus forecast for '14 EPS, revenue was $1.27, $760.84M.
FACEBOOK, INC.(FB) : FB to be added to the S&P 500, replacing TERADYNE INC (TER). TER to be added to the S&P 400 MidCap, replacing SCHOLASTIC CORP. (SCHL). SCHL to be added to the S&P SmallCap 600, replacing LINCOLN EDUCATION SERVICES (LINC).
UNS ENERGY CORPORATION(UNS) : UNS agrees to be acquired by Fortis, Inc. in $4.3 billion deal, which includes the assumption of about $1.8B in debt. Terms: UNS holders to get $60.25 per share in cash for each share held.