What’s Moving These Blazing Stocks?
Thanks to two buy recommendations from analysts, Keryx Biopharmaceuticals Inc. (NASDAQ:KERX) got a nice bump. A long-term phase 3 study of hyposphatemia drug Zerenex (with data to come in Q4) is what Ladenburg Thalmann calls a “significant event” for the company, and Roth Capital has elevated the target price on shares from $4 to $7. KERX shares traded up 17.24% (or $0.25) recently, at $1.70.
Silicon Graphics International Corp. (NASDAQ:SGI) cites a major deal going into FQ1 and delayed customer orders prior to product launches meant for late in FQ4, with many expected deals having low margins, behind its FQ4 revenue of $177M-$197M and EPS of -$0.52 to -$0.37 (less than a consensus of $208.9M and $0.16). SGI shares traded lately at $7.11, down $1.98, or 21.78%.
At Windstream Corporation (NASDAQ:WIN), revenue for the business service is up 3.2% in Q1 to $897M. Among deleterious factors are a 77% rise in costs to $1.29B and a lowering in wholesale profits and comprehensive customer service. At the same time, net profit increased more then twofold to $64.6M, helped by the addition of PAETEC Holding. Shares of WIN traded down $1.69 (15.01%) at $9.57, recently.
Q1 results for MEMC Electronic Materials Inc. (NYSE:WFR) demonstrated growing losses thanks to weaker revenue in both major components as a result of softer volumes and pricing, resulting in shares falling close to a 10-year low. The company reports that the semi wafer business looks like it’s hit a low point in Q1 and forecasts margins going back to positive in H2. Sinking solar prices, however, make losses extending into 2013 likely. WFR shares were trading at $2.87 of late, down $0.38, or 11.69%.
Universal Display Corp. (NASDAQ:PANL) was off by $0.07 with Q1 EPS of -$0.03, and a revenue of $12.6M (+31%Y/Y) off by $3.8M. PANL placed blame for that miss on not having Samsung licensing revenue, but promises recognition of that in Q2 and Q4. 2012 revenue guidance of $90M-$110M held. The company’s shares traded down $4.09 (10.44%) recently, at $35.07.
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