US HOT STOCKS: Amtech, Asyst, Borders Group -2-
Last Update: 8/14/2008 2:21:16 PM
Among the companies whose shares are actively trading in Thursday’s session are
PMI Group Inc., Power Medical Intervention Inc. and LSI Industries Inc.
PMI (PMI, $4.78, $1.99, 71.33%) agreed to sell its Australian mortgage-insurance
subsidiary and related holding company to QBE Insurance Group Ltd. (QBE.AU), the
continent’s largest insurer, for about $920 million. In addition, PMI said it
reached an agreement in principle with QBE for the sale of its Asian operations,
based in Hong Kong, which has about $55 million in net tangible assets. Shares of
MGIC Investment Corp. (MTG, $8.03, $0.92, 12.94%), a holding company for Mortgage
Guaranty Insurance, and of MBIA Inc. (MBI, $9.86, $1.11, 12.69%) also rose.
Power Medical Intervention Inc.’s (PMII, $3.43, -$1.57, -31.40%) second-quarter
loss widened because of troubles in selling new products. The maker of
surgical-stapling products cut its 2008 outlook again and said that based on
updated expectations, it will need to raise more capital to fund its operations
as well as development work.
LSI Industries (LYTS, $7.35, -$3.29, -30.92%) slumped to an 11-year low a day
after the lighting and graphics company again cut its fiscal-year outlook,
projected earnings for the new year below analysts’ estimates and said its annual
dividend could fall by as much as 75%.
Action Products International Inc. (APII, $2.12, -$1.07, -33.54%) reported a
wider second-quarter loss. The educational toy maker also said it will buy BE
Overseas Investment Group LLC for 500,000 shares, boosting shares outstanding by
10%.
Spreadtrum Communications Inc. (SPRD, $3.32, -$1.13, -25.34%) said net income
fell 6%, though the Chinese fabless semiconductor company predicted trouble ahead
as natural disasters, product delays and a slowdown in the Chinese consumer
market cut into results.
China GrenTech Corp. (GRRF, $3.51, -$0.99, -22.00%) swung to a loss as the
radio-frequency technology and product provider said revenue fell. The firm noted
restructuring plans announced by the Chinese government will intensify
competition and enhance demand in wireless coverage.
Global Sources Ltd.’s (GSOL, $12.27, -$2.88, -19.01%) second-quarter net income
doubled amid strong online revenue growth and results in mainland China though
the Asian media company and online provider of information to volume buyers and
suppliers issued a cautious outlook for the third quarter.
Ctrip.com International Ltd. (CTRP, $50.75, $7.55, 17.48%) posted a 35% rise in
net income amid strong booking volumes, and the company’s board approved the
repurchase of up to $15 million of American depositary shares.
Intertape Polymer Group Inc. (ITP, $2.68, $0.40, 17.54%) a maker of tapes, shrink
wrap and related packaging products, swung to a profit and said it would buy back
as much as 5% of its shares outstanding over the next year. The Canadian company
credited cost cuts and price hikes with softening the impact of rising costs.
Investor Nelson Peltz disclosed new stakes in a number of consumer-product
companies, including energy drink maker Hansen Natural Corp. (HANS, $30.37,
$3.38, 12.52%).
U.K. biotech company Protherics PLC (PTIL, $10.00, $1.25, 14.29%), which
specializes in critical care and cancer products, disclosed it has received
several takeover approaches. They are being considered by the firm cautioned
there can be no certainty that it will receive any formal offers.
North American Energy Partners Inc. (NOA, $15.99, $0.97, 6.46%) swung to a profit
in its fiscal first quarter amid rising margins and revenue, as the pipeline
segment returned to profitability. Results for the Canadian supplier of
construction, mining and pipeline services topped expectations.
Footwear company Skechers USA Inc. (SKX, $19.80, -$0.14, -0.70%) proposed to buy
Heelys (HLYS, $5.45, $0.58, 11.91%) for $142.8 million, raising an offer from May
that was kept private and rebuffed by Heeley’s board
Elizabeth Arden Inc. (RDEN, $18.92, $1.87, 10.97%) swung to a loss in its fiscal
fourth quarter on costs related to a new Liz Claiborne Inc. (LIZ, $14.70, $1.52,
11.53%) licensing agreement. Arden also predicted results for the fiscal first
quarter and year above analysts’ estimates. Estee Lauder Cos. (EL, $49.88, $4.92,
10.94%) posted a 36% jump in net income as the cosmetics, skin-care and
fragrances giant’s international strength offset modest performance in the U.S.
Briggs & Stratton Corp. (BGG, $14.09, -$0.61, -4.15%) forecast fiscal 2009
earnings below analysts’ expectations as its fourth-quarter net income tumbled
97% on lower sales volumes and higher costs.
Click here to go to Dow Jones NewsPlus, a web front page of today’s most
important business and market news, analysis and commentary:
http://www.djnewsplus.com/al?rnd=%2FbT9qSUJUcGj1l0znpI5Rg%3D%3D. You can use this
link on the day this article is published and the following day.
Amtech Systems Inc. (ASYS, $10.98, $0.65, 6.29%), which supplies production and
automation systems for the manufacture of solar cells, semiconductors and silicon
wafers, said fiscal third-quarter net income increased 15% and the company raised
its revenue outlook for the fiscal year on burgeoning demand from the solar
sector.
Asyst Technologies Inc. (ASYT, $4.64, $0.28, 6.42%), a maker of
semiconductor-manufacturing equipment, said it is working with Aquest Systems
Corp., which made an unsolicited $324 million takeover offer last month.
Barnes & Noble Inc. (BKS, $25.73, $0.13, 0.51%), the nation’s largest bookstore
chain, isn’t expected to make a bid for No. 2 Borders Group Inc. (BGP, $5.38,
-$0.31, -5.37%), according to The Wall Street Journal. The decision will
disappoint investors who have acquired Borders stock in recent months in hopes of
a buyout.
Boston Scientific Corp.’s (BSX, $12.94, -$0.44, -3.29%) Taxus Liberte heart stent
- a top international seller expecting approval for U.S. sales - is backed by
flawed research despite the company’s claims of success in a clinical trial,
according to a Wall Street Journal review of the data.
Copa Holdings SA’s (CPA, $38.37, $1.51, 4.10%) net income declined 1.5% amid
higher fuel prices, though earnings topped estimates and revenue rose 27%.
Former Federal Reserve Chairman Alan Greenspan criticized the government’s
support of Freddie Mac (FRE, $5.97, $0.42, 7.57%) and Fannie Mae (FNM, $8.10,
$0.46, 6.02%), preferring a nationalization and then a breakup of the two into
five or 10 private firms.
Gannett Co. (GCI, $20.68, $1.42, 7.37%) is cutting 1,000 newspaper jobs, or about
3% of that segment’s work force. The cuts will come from most of the company’s
publishing business, but not USA Today. Some 600 layoffs are expected.
General Dynamics Corp. (GD, $92.97, -$0.49, -0.52%) fell after analysts at JP
Morgan lowered its investment rating on the aerospace and defense contractor’s
stock to neutral from overweight, saying that its earnings per share growth will
slow to 10% from 20%.
General Motors Corp. (GM, $11.41, $1.15, 11.21%) by 2010 will have slashed its
North American capacity by more than a quarter over six years and will be capable
of building millions more cars and crossovers than trucks, the auto maker told
investors. GM, struggling to end its red ink in the U.S. as demand falls, will
cut capacity by 500,000 vehicles between now and 2010.
Standard & Poor’s said investment-management company Invesco Ltd. (IVZ, $25.48,
$1.92, 8.15%) will take the place of IAC/InterActiveCorp. (IACI, $19.17, -$0.04,
-0.21%) in the S&P 500-stock index after the close of trading on Aug. 20.
IAC/InterActive is spinning off the businesses of HSN Inc. (HSNIV, $12.15, $0.15,
1.25%), Interval Leisure Group Inc. (IILGV, $13.02, $0.02, 0.15%) and
Ticketmaster (TKTMV, $22.27, -$0.73, -3.17%) in a transaction expected to be
completed after the close of trading on that date. All three spin-off companies
will be added to the S&P SmallCap 600 index.
Indevus Pharmaceuticals Inc. (IDEV, $2.03, $0.16, 8.56%) announced the issuance
of a patent for once-daily doses of an overactive-bladder treatment licensed
exclusively to the pharmaceutical company by Supernus Pharmaceuticals Inc. The
patent covers Sanctura, a once-a-day formulation of trospium chloride used to
treat symptoms of overactive bladders.
NetApp Inc.’s (NTAP, $24.64, -$1.05, -4.09%) fiscal first-quarter net income rose
9.7% on higher sales and margins, though results missed estimates.
NetEase.com Inc. (NTES, $25.14, $1.09, 4.53%), a Chinese online gaming and
advertising company, said its second-quarter net income jumped 40% on higher
revenue from its online games and advertising.
Paetec Holding Corp. (PAET, $3.26, -$0.13, -3.83%) swung to a loss and lowered
its 2008 revenue guidance. The long-distance voice services provider said it cut
151 jobs, is working to disconnect unused facilities and is slowing capital
spending.
US Airways Group Inc. (LCC, $8.62, -$0.49, -5.38%) plans to sell 19 million
shares to Merrill Lynch & Co. (MER, $26.18, $0.58, 2.27%) as the airline moves to
raise capital. Shares of the carrier have soared the past month after hitting a
low of $1.45 in July. The airline plans to use the proceeds for general corporate
purposes. US Airways has about 92.1 million shares outstanding.
Virgin Mobile USA Inc.’s (VM, $2.49, -$0.25, -9.12%) second-quarter net income
dropped 50% and the company projected third-quarter profits below analysts’
expectations.
Possibly Related Posts:
- Fitch:Morgan Stanley Likely To Get Added Govt Support If Needed
- Not many seem to seriously be considering the uphill battle and tremendous odds Yahoo is facing right now.
- US Oct Online Retail Sales Up Just 1% - ComScore
- Perspectives on the latest Fannie/Freddie homeowner rescue plan - by Peter Schiff.
- In recession or depression, people only consume food, go short Retail stocks




































