TraderPlanet Market News - Etfx
Benzinga's Microcap Movers for Wednesday February 8, 2012
Below are highlights from 's daily coverage of microcap securities making big moves:S&W Seed CompanyShares of S&W Seed Company (NASDAQ: SANW), the Five Points, CA seed prducer, rose 12% Wednesday on 38 times the average daily volume.For the second quarter of fiscal year 2012, S&W reported revenue of $4.7 million versus $0.9 million in the comparable quarter last year; an increase of 420%. These results reflect both the strong demand of the company's proprietary alfalfa seed and the greatly increased price competitiveness due to the strategic decision to purchase its distributor's customer list and sell direct to dealers and large farms in key international markets. S&W reported operating income of $635,000 versus an operating loss of $216,000 in the comparable period of the prior year. Net income totaled $443,000, or $0.08 per basic and diluted share compared to a net loss of $82,000 or $(0.01) per basic and diluted share in the second quarter of the prior year.S&W Seed closed at $5.15 on Wednesday.MotricityShares of Motricity (NASDAQ: MOTR), the Bellevue, WA provider of relevance-driven mobile merchandising, marketing, and advertising solutions, rose 34% Wednesday on 5 times the average daily volume.Motricity announced Wednesday it will report its fourth quarter and fiscal year 2011 financial results for the period ended December 31, 2011 following the close of market on Thursday, March 1, 2012. On that day, management will hold a conference call and webcast at 2:00 p.m. PT to review and discuss the Company's results.Motricity has been moving higher since the Facebook IPO filng last week. It is a popular stock in chat rooms and on Twitter.Motricity closed at $1.74 on Wednesday.Bullion Monarch MiningShares of Bullion Monarch Mining (BULM), the St George, UT company involved in the exploration, acquisition, and development of mining properties in the western United States and South America, rose 38% Wednesday on 26 times the average daily volume.On Tuesday, Eurasian Minerals (NYSE: EMXX) and Bullion Monarch Mining announced they had entered into a definitive agreement with respect to a proposed merger of BULM with a wholly-owned subsidiary of EMX. EMX has agreed to acquire all of the outstanding common shares of BULM for which BULM shareholders will receive 0.45 of an EMX common share and US$0.11 in cash for each BULM share held. The Transaction is expected to close in the second quarter of 2012 and the BULM shares will cease trading thereafter.Bullion Monarch Mining closed at $1.11 on Wednesday.
ETFs to Watch February 9, 2012
Here is the ETF Professor's ETF Watch List for Thursday February 9, 2012.The Guggenheim Solar ETF (NYSE: TAN) shined bright on Wednesday.The Global X FTSE Greece 20 ETF (NYSE: GREK) did not.Keep an eye on the Energy Select Sector SPDR (NYSE: XLE).Emerging markets plays of the day: EGShares India Small Cap ETF (NYSE: GXG).Forex play of the day: ProShares UltraShort Euro (NYSE: EUO).Bond play of the day: Vanguard Total Bond Market ETF (NYSE: BND).Follow me on Twitter: twitter.com/ETFProfessor1
Benzinga's M&A Chatter for Wednesday February 8, 2012
The following are the M&A deals, rumors and chatter circulating on Wall Street for Wednesday February 8, 2012:Akamai Acquires BlazeThe Deal: Akamai Technologies (NASDAQ: AKAM) announced Wednesday that it has acquired Blaze Software in a cash transaction. The acquisition is expected to complement Akamai's market-leading site acceleration solutions with technology designed to optimize the speed at which a web page is rendered, regardless of end user device.Akamai shares closed at $34.44, a gain of 2.35% on more than twice the average daily volume. After hours Akamai reported better than expected earnings and traded over $39.00.Samsung to Acquire Micron TechnologyThe Rumor: Korean technology giant Samsung to acquire Micron Technology (NASDAQ: MU) for $13.50, according to sources. On February 3, Micron lost its CEO, Steve Appleton, in a plane crash.A spokesperson for Micron would not comment on the rumor.Micron Technology closed at $8.16, a gain of 3.68% for the day on 1.35 times the average daily volume.Amazon to Acquire Research in MotionThe Rumor:Amazon (NASDAQ: RIMM) for $25 per share, according to sources. There have been many rumors involving a Research in Motion in recent months. Vodaphone was the most recent rumored buyer at $22.A spokesperson for Amazon would not comment on the Research in Motion takeover rumor, while a RIMM spokesperson could not be reached for comment.Research in Motion closed at $16.49, a loss of 1.32% for the day on 70% of the average daily volume.BHP Billiton to Acquire AlcoaThe Rumor:BHP Billiton (NYSE: AA) for $16 per share or more.A spokesperson for Alcoa would not comment on the rumor. A BHP Billiton spokesperson could not be reached for comment.-Alcoa closed at $10.67 Wednesday, no change for the day on just under the average daily volume.Bristol-Meyers Squibb to Acquire Vertex PharmaceuticalsThe Rumor:Bristol-Meyers Squibb (NYSE: ACHN).A spokesperson for Vertex would not comment on the chatter. A Bristol-Meyers spokesperson could not be reached for comment.Vertex closed at $36.78 Wednesday, a loss of 2.15% for the day on 80% of the average daily volume.Pershing Square/Bill Ackman Pushing Radio Shack for a SaleThe Rumor:Investor Bill Ackman of Pershing Square is pushing Radio Shack (NYSE: RSH) to find a buyer for the company, according to reports.A spokesperson for Radio Shack would not comment to on the report. Radio Shack closed at $7.51 Wednesday, a gain of 3.3% for the day on almost twice the average volume.American Airlines Creditors Want to Explore Merger with US AirwaysThe Rumor:Creditors for AMR Corp (AAMRQ) want American Airlines to explore a merger with US Airways or another carrier, according to an exclusive Reuters story.Creditors include banks, employees and vendors. US Airways has already indicated it is considering a bid for AMR.AMR Corp closed at $0.64 Wednesday, a loss of 0.85% for the day on 10% of the average daily volume.Cellcom in Talks to Sell NetwiseThe Rumor:Cellcom Israel (NYSE: CEL) is in talks to sell subsidiary Netwise Applications to Matrix IT Ltd, according to Globes.Cellcom Israel closed at $15.37 Wednesday, a gain of 1.86% for the day on average volume.
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Questcor Pharmaceuticals Spokesperson Comments on Reports of Conference Cancellation
Questcor spokesperson Gregory Gin told : "Questcor maintains an active schedule in communicating and meeting with investors. The company will participate at the Leerink conference on February 16th and the Citi conference on February 27th that overlaps the RBC conference, which is the reason for the cancellation."
Diamond Foods Spokesperson Says it is Hard to Speculate on What Today's Announcement Will Mean for Pringles Deal
Diamond Foods met Wednesday with Senior Proctor & Gamble management.
Proctor & Gamble Releases Statement on Diamond Foods
Proctor & Gamble spokesperson Paul Fox released the following statement:"This is breaking news for us and the information released by Diamond Foods is very disappointing. Pringles remains a valuable asset and it has attracted considerable interest from other outside parties. We need to evaluate next steps and we are currently keeping all our options open. As we evaluate the right next steps, we will be guided by what is best for our shareholders and our employees. In the meantime, we are focused on building and supporting the Pringles business and our employees."
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Aflac Incorporated Prices $750 Million of Senior Notes
Aflac Incorporated announced today that it has priced $400 million (par value) of five-year fixed rate, senior notes with a coupon of 2.65%, and $350 million (par value) of 10-year fixed rate senior notes with a coupon of 4.00%. The five-year notes will be issued at a price of 99.911 to yield 2.669% and the 10-year notes will be issued at a price of 99.820 to yield 4.022%. The company intends to use the net proceeds from this offering to repay in full at maturity the Parent Company's $347 million aggregate principal amount of 1.87% Samurai notes due June 2012. The company intends to use the balance of the net proceeds for general corporate purposes, including capital contributions to subsidiaries, if needed.
Robert Half International Announces Quarterly Dividend; Increases to $0.15 from $0.14
Robert Half International Inc. (NYSE symbol: RHI) today announced an increase to its quarterly cash dividend, from $.14 to $.15 per share. The cash dividend will be paid on March 15, 2012, to all shareholders of record as of February 24, 2012.
MannKind Announces Exercise In Full of Over-Allotment Option and Completion of Public Offering
MannKind Corporation (Nasdaq: MNKD) today announced the completion of an underwritten public offering of 35,937,500 units, including 4,687,500 units sold pursuant to the full exercise of an over-allotment option previously granted to the underwriters (with each unit consisting of one share of its common stock and a warrant to purchase 0.6 of a share of its common stock). All of the securities were offered by MannKind at a combined price to the public of $2.40 per unit. The gross proceeds to MannKind from this offering were approximately $86.3 million, before deducting underwriting discounts and commissions and other estimated offering expenses payable by MannKind. The warrants are exercisable at $2.40 per share and expire four years from the date of issuance. The shares of common stock and warrants are immediately separable and were issued separately. MannKind anticipates using the net proceeds from the offering for general corporate purposes, including research and development expenses, capital expenditures, working capital and general administrative expenses.
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Ironwood Pharmaceuticals Announces Proposed Public Offering of 5.25M Shares
Ironwood Pharmaceuticals, Inc. (NASDAQ: IRWD) announced today that it has commenced an underwritten public offering of 5,250,000 shares of its Class A common stock. All of the shares are being offered by Ironwood. The Company will grant the underwriters a 30-day option to purchase up to an additional 787,500 shares in connection with the offering. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering. The final terms of the offering will be disclosed in a final prospectus supplement filed with the Securities and Exchange Commission.
Visa Rises On Strong Q1 Earnings; Updates Guidance
Visa (NYSE: V) released its fiscal Q1 earnings results on Wednesday after the closing bell. The company reported net income of $1.03 billion, or $1.49 per share, compared to $884 million or $1.23, in the year ago period. Operating revenues at Visa for Q1 were $2.55 billion versus $2.24 billion in last year's first quarter. Going into the report, Wall Street analysts had consensus EPS and revenue estimates of $1.45 and $2.47 billion. Looking ahead to fiscal 2012, Visa said that it now sees net revenue growth in the low double digits and adjusted EPS in the high teens. This compares to earlier guidance which called for revenue growth in the high single to low double digits and adjusted EPS in the mid to high teens. Currently, Wall Street analysts have consensus EPS estimates of $5.87 on revenues of $10.07 billion for Visa in fiscal 2012. In Wednesday's after hours trading session, V shares have risen 2.61% to $111.18.
Cisco Beat on Earnings
Cisco (NASDAQ: CSCO) reported earnings on Wednesday. The company beat analyst's expectations. Cisco's first quarter earnings came in at $0.47/share, while analysts had been anticipating only $0.43/share. Revenue for the company came in at $11.50 billion against an estimated $11.23 billion.The company stated that it had hit its $1 billion cost savings plan a quarter ahead of schedule.Shares of the company rallied just over 3% in after-hours trading.
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