5 Hot Stocks: Multi-Fineline Electronix Up 18% on Preliminary Results, China GrenTech Corporation Goes Private
It’s that time again: pre-announcement season on Wall Street. Lots of companies are giving investors a heads up on what to expect when earnings are announced. Other companies are active in the capital markets. Here are some of the most actively traded stocks today with news.
Multi-Fineline Electronix, Inc. (NASDAQ:MFLX) announced better-than-anticipated preliminary financial results for the first quarter — revenue of $239 million versus consensus estimates of $215.17 million. MFLEX CEO Reza Meshgin said, “We expect our net sales results to exceed the high end of our previous guidance range as the supply chain shortages from the flooding in Thailand improved throughout the quarter. We also saw an increase in shipments to our largest key customer. The increased orders improved capacity utilization which we expect to result in gross margin also exceeding the high end of our previous guidance.” The company predicts fiscal Q1 net sales of approximately $239 million, comparable to the same period of the prior year. Gross margin during Q1 is expected to be approximately 12.2 percent, compared to 14.3 percent for the same period in the previous year. Shares of Multi-Fineline Electronix, Inc. are up 17.84 percent today.
PharMerica Corporation (NYSE:PMC): The FTC is reportedly ready to stop Omnicare’s (NYSE:OCR) suggested $716 million offer for fellow pharmaceutical companyr PharMerica, with a judgement expected by the end of next week. “The FTC is not offering Omnicare any remedies,” says a source, so it s not attempting to find ways to validate the deal. Today shares of PharMerica Corporation are down 7.41 percent today.
JA Solar Holdings Co., Ltd. (NASDAQ:JASO): A surge in demand at the end of 2011 has caused solar firms to think about a slight price increase. Investors are bidding JASO higher on the news.
China GrenTech Corporation Limited (NASDAQ:GRRF) has entered a ‘going private’ agreement and plan of merger with a group of buyers for $3.15/ADS. Buyers include Talenthome Management Ltd, a British Virgin Islands exempted company, and Xing Sheng Corp., a Cayman Islands exempted company wholly-owned by Parent. Parent is indirectly jointly owned by Rong Yu, the company’s director and CFO; Yingjie Gao, the company’s chairman and CEO and Yin Huang. The Buyer Group collectively beneficially owns about 41.9 percent of the firm’s issued and outstanding ordinary shares and plans to underwrite the merger and other projects contemplated by the Merger Agreement through funds from a loan facility in the amount of HK$320,000,000 from Guotai Junan Finance Ltd.
Linn Energy, LLC (NASDAQ:LINE) filed to sell 17 million shares of common stock yesterday. Shares of Linn Energy, LLC are down 2.89 percent today.
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