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Arqule Inc. (NasdaqGM:ARQL - News) shares rose 6.7% Thursday after the company was initiated with a buy rating at WR Hambrecht & Co.
Bon-Ton Stores Inc. (NasdaqGS:BONT - News) shares surged 16% after the York, Pa., retailer reported that February sales tripled and comparable-store sales rose nearly 14.6%. A survey of analysts by Thomson Financial produced a consensus estimate of same-store sales down 2%. Total sales reached $237.6 million from $72.2 million, reflecting $153.4 million from Carson's and Parisian stores acquired in 2006. Carson's sales aren't included in the comparable-store-sales figure. Bon-Ton said that Carson's comparable-store sales for the period increased 7.2%, while the combined Carson's and Bon-Ton comparable sales advanced 9.8%.
California Coastal Communities (NasdaqGM:CALC - News) shares gained 8.7% after the company was upgraded to market outperform from market perform at JMP Securities.
Catalina Marketing (NYSE:POS - News) shares rose 5.5% after the company agreed to be acquired by ValueAct Capital for $1.7 billion, including the assumption of about $135 million in debt. The deal values shares of Catalina, a St. Petersburg, Fla., promotional messaging company, at $32.10 each in cash, compared to the stock's close on Wednesday at $29.85, down 4.1%. The agreement allows Catalina to solicit and entertain alternative acquisition proposals from third parties for the next 45 days. Catalina expects the transaction to close in the next several months.
CSP Inc. (NasdaqGM:CSPI - News) shares gained 15% after the Billerica, Mass.-based IT services provider reported fiscal first-quarter net income of $978,000, or 25 cents a share. In the same quarter last year, the company posted a net loss of $546,000, or 15 cents a share. Revenue rose to $21.1 million from $15.1 million.
Culp Inc. (NYSE:CFI - News) shares rose 5.9% after the company said its third quarter net loss widened slightly to $2.2 million from $2.17 million. The High Point, N.C.-based company's loss per share for the quarter was unchanged at 19 cents a share. Quarterly net sales fell to $55.7 million from $61 million.
Delphi (Other OTC:DPHIQ.PK - News) shares gained 8.8% after the company filed to issue nearly $2 billion worth of common stock to shareholders as a key step toward funding its emergence from bankruptcy. According to a filing with the Securities and Exchange Commission, the auto parts maker is offering current stockholders the right to buy 56,700,000 shares at $35 each.
Fred's Inc. (NasdaqGS:FRED - News) shares rose 6.5% after the company said its February sales at stores open at least one year rose 3.9%. Analysts, on average, had expected its same-store sales to rise 2%, according to Thomson First Call. Total sales for the four weeks ended March 3 rose 8% to $143.9 million.
KLA-Tencor (NasdaqGS:KLAC - News) shares rose 4% after Morgan Stanley upgraded the company to overweight from equal weight and lifted its price target to $65 from $60.
La Jolla Pharmaceutical Co. (NasdaqGM:LJPC - News) shares surged 31% after the company announced positive interim antibody results from its Phase II trial of Riquent, its drug candidate for systemic lupus erythematosus. The results showed a significant dose response when comparing all Riquent-treated patients to placebo-treated patients, the company said. "We are very excited by these results," said Deirdre Gillespie, president and chief executive, in a statement. "The higher the dose, the greater the reduction in antibodies to dsDNA, and the relative magnitude of these reductions is greater than we have seen in previous studies, which used lower doses of Riquent."
Mamma.com (NasdaqCM:MAMA - News) shares gained 19% after the company swung to a fourth-quarter profit on higher revenue as a result of an increase in search advertising revenue, new software licensing contracts and increase in customized development and maintenance support. The Montreal provider of Internet search services said it earned $420,000 or 3 cents a share in the latest quarter versus a loss of $763,000 or 6 cents a year earlier. Revenue rose to $3.6 million from $1.6 million last year.
Men's Wearhouse Inc. (NYSE:MW - News) shares gained 9.4% after the company said it expects first-quarter earnings between 63 cents and 67 cents a share, assuming same-store sales rise 1% to 2% in the U.S. and 5% to 6% in Canada. The Houston-based seller of men's apparel also expects to earnings between $2.80 and $2.91 a share for the fiscal year ending Feb. 2.
New York & Co. (NYSE:NWY - News) shares rose 16% after the company said same-store sales rose 2.7% in February. The average estimate of analysts polled by Thomson Financial was for growth of 2.1% for the month. Total sales for the four weeks ended March 3 increased 8.9% to $87.7 million from $80.6 million in the same period a year earlier.
Nighthawk Radiology Corp. (NasdaqGM:NHWK - News) shares gained 5.1% after the company was upgraded to market perform from underperform at Piper Jaffray.
Nucor Corp. (NYSE:NUE - News) shares rose 5.3% Thursday morning after the second-largest U.S. steel producer forecast strong first-quarter earnings and said shrinking steel stockpiles should support profits for the rest of the year.
Omni Energy Services Corp. (NasdaqGM:OMNI - News) shares leapt 17% after the company said it expects fiscal 2007 revenue of more than $175 million, an 80% increase over last year. Excluding certain tax benefits, the Carencro, La.-based company said it expects net income may rise as much as 70% to more than $17 million. Earnings before interest, taxes, depreciation and amortization could increase more than 60% to exceed $40 million, the company said. Additionally, Omni said it sees slightly improved gross profit margins for the year with the inclusion of a full-year's operations from its rental equipment division.
PriceSmart Inc. (NasdaqGM:PSMT - News) shares jumped 18% after the company said February same-store sales rose 21% over year-earlier levels. Total sales for the month rose 21% to $63.3 million from last year's $52.5 million.
RehabCare (NYSE:RHB - News) shares gained 7.7% after the company reported fourth-quarter earnings of $2.1 million, or 12 cents a share, on revenue of $182.2 million, up from a loss of $31.8 million, or $1.89 a share, in the same period a year earlier, on revenue of $123.4 million.
Resource Capital Corp. (NYSE:RSO - News) shares rose 6.8% after the company reported fourth-quarter earnings of $6.8 million, or 36 cents a share, up from a year-ago profit of $4.9 million, or 32 cents a share. The New York City real estate investment trust estimates that it will pay dividends of between $1.65 and $1.80 per common share.
Seattle Genetics (NasdaqGM:SGEN - News) shares gained 7% after the company was initiated with a buy rating at Caris & Co.
Zumiez Inc. (NasdaqGS:ZUMZ - News) shares climbed 14% after the company said its February sales at stores open at least a year increased 12.4%. Analysts, on average, expected the retailer to post a same-store sales increase of 7.1%, according to a survey by Thomson Financial. Total net sales for the four-week period ended March 3 increased 43.9% to $20.7 million, from $14.4 million for the four-week period ended Feb. 25, 2006.
Published By Michael Baron of MarketWatch

Labels: ARQL, BONT, CALC, CFI, CSPI, FRED, KLAC, LJPC, MAMA, MW, NHWK, NUE, NWY, OMNI, POS, PSMT, RHB, RSO, SGEN, ZUMZ

Aircastle Ltd. (NYSE:AYR - News) agreed to acquire 38 aircraft from certain units of Guggenheim Aviation Investment Fund LP for about $1.595 billion. The company said it plans to finance the purchase with common equity and debt financing. It expects the aircraft to be bought in a series of closings between this month and February of 2009. It anticipates closing on the purchase of 28 of the 38 aircraft in 2007. Aircastle also said it's boosted the capacity of its senior secured warehouse facility to $1.25 billion and its senior secured revolving credit facility to $450 million.
A.O. Smith Corp. (NYSE:AOS - News), a manufacturer or water-heating equipment, said fourth-quarter net income rose 18% to $18.9 million, or 61 cents a share, from $16 million, or 52 cents a share, a year earlier, partly helped by lower tax costs. Earnings from continuing operations came in at 62 cents a share compared to 52 cents a share. Sales climbed 25% to $543.6 million. The company sees 2007 earnings in the range of $2.75 to $2.85 a share.
Arotech (NASDAQ:ARTX - News) shares rose after the company said its Simulation and Training unit recently received more than $2.8 million in contract awards for weapon simulation products.
Shares of AT&T (NYSE:T - News) edged higher after Merrill Lynch upgraded the telecommunications services company to buy from neutral, citing the belief that the revenue environment for the company, and the telecommunications industry in general, is improving, which should also boost valuations. Analyst David Janazzo raised his earnings estimate for 2007 to $2.65 a share from $2.60 and for 2008 to $3 a share from $2.89, and his average revenue per unit growth forecast for its Cingular wireless unit to 1% from zero.
Avalon Pharmaceuticals (NASDAQ:AVRX - News) said it's reached terms to raise about $10 million through a private placement. The company has agreed to sell three million common shares for $3.34 each to institutional investors.
Bebe Stores (NASDAQ:BEBE - News) was upgraded to outperform from neutral at Cowen & Co. The firm cited valuation for the move.
Career Education Corp. (NASDAQ:CECO - News) shares rose after the Hoffman Estates, Ill.-based company said it has been notified by the Department of Education that it has lifted restrictions imposed in June of 2005 that had "prevented the company from domestic acquisitions of schools and had restricted its ability to open additional domestic campuses." "We will be carefully and selectively evaluating other expansion opportunities and look forward to pursuing those opportunities in cooperation with the department," said Robert Dowdell, interim chairman and chief executive, in a statement.
Chelsea Therapeutics (NASDAQ:CHTP - News) said it's received orphan drug designation for Droxidopa, its candidate for the treatment of symptomatic neurogenic orthostatic hypotension in patients with primary autonomic failure, from the Food and Drug Administration. The company plans to conduct a phase III trial of Droxidopa in the U.S. and Europe in the second half of 2007.
E-Future Information Technology (NASDAQ:EFUT - News) shares jumped after the Beijing-based software company announced a new contract with Johnson & Johnson (NYSE:JNJ - News) to provide supply chain management software in China. Financial terms weren't disclosed.
ElkCorp (NYSE:ELK - News) said the Carlyle Group has lifted its tender offer to acquire the company to $42 per share in cash from a prior proposal of $40.50 per share. The parties have amended their merger agreement to reflect the higher tender offer, which began on Jan. 18 and will expire on Feb. 14. ElkCorp said the $42 per share offer is worth a total of roughly $1.1 billion, including the assumption of about $173 million in debt.
Futuremedia plc (NASDAQ:FMDAD - News) shares jumped after the company regained compliance with the listing requirements for the Nasdaq exchange.
Halliburton (NYSE:HAL - News) agreed to acquire Ultraline Services Corp. from Energy Services Corp. for $177 million. Halliburton, based in Houston, said Ultraline provides wireline services in Canada. The transaction is expected to close in the first quarter, subject to regulatory approvals.
Hanger Orthopedic (NYSE:HGR - News) shares leapt after the company was upgraded to overweight at Lehman Bros.
Hoku Scientific (NASDAQ:HOKU - News) shares soared after the company said its materials unit has signed a deal to pay up to 21 million euros to Graeber Engineering Consultants and MSA Appartus Construction for polysilicon reactors. Hoku said the deal is for the purchase and sale of hydrogen reduction reactors and hydrogenation reactors used in the production of polysilicon, and related engineering and installation services.
Hospira (NYSE:HSP - News) was upgraded to buy from neutral at Merrill Lynch.
IPG Photonics Corp. (NASDAQ:IPGP - News) rose as a number of analyst firms began coverage of the company. Lehman Bros. started with an equal-weight rating and a $25 price target, Needham & Co. began with a buy rating and a $30 price target, Merrill Lynch opened up with a buy rating and $32 price target, and Thomas Weisel Partners started its coverage at overweight.
Johnson Controls' (NYSE:JCI - News) shares got a lift after Banc of America Securities lifted its price target on the stock to $110 from $91.
Kohlberg Capital Corp. (NASDAQ:KCAP - News) was initiated with an overweight rating at Lehman Bros. The firm set a $20 price target on the stock. Stifel Nicolaus also started coverage of the company with a buy rating and a $19 price target.
Lodgian Inc. (AMEX:LGN - News) has hired Goldman Sachs and Genesis Capital LLC to explore "strategic alternatives" for the hotel company. Lodgian, Atlanta, manages a portfolio of 69 hotels in 28 states and Canada.
Novell (NASDAQ:NOVL - News) shares surged after the company was upgraded to buy from neutral at SunTrust Robinson Humphrey. Analyst Terry Tillman cited anticipated revenue growth for Novell stemming from the company's open-source software distribution agreement with Microsoft Corp. (NASDAQ:MSFT - News). Under that agreement, Microsoft is obligated to distribute coupons to corporate customers that can be used to acquire and run Novell's open-source software simultaneously with Microsoft products. Shares of Novell were up nearly 1% in early trading Monday.
Omni Energy Services Corp. (NASDAQ:OMNI - News) agreed to acquire BMJ Industrial Investments LLC and its Charles Holston Inc. subsidiary for $23 million, including $18 million in cash and $5 million in three-year, 5% convertible promissory notes, convertible at $9.24 per share. Carencro, La.-based Omni, a provider of drilling and environmental services to the oil and gas industry, expects the deal to have an "immediate positive impact" on its operations and profitability. For 2006, the businesses being acquired had revenue approaching $30 million, and pro forma earnings before interest, taxes, depreciation and amortization of more than $5 million, Omni said.
SigmaTel (NASDAQ:SGTL - News) shares rose after the Austin, Texas-based semiconductor company said its SGTV5800 TV audio chip has been adopted by Samsung Electronics . Samsung televisions with SigmaTel audio technology are expected to begin shipping during the first quarter of 2007. "We are thankful for our design win at Samsung; collaborating with the largest television manufacturer is a great opportunity for SigmaTel's TV audio product line," said Phil Pompa, SigmaTel's interim chief executive, in a statement.
SteelCloud (NASDAQ:SCLD - News) shares surged after the company received an order worth an estimated $500,000 from an undisclosed "major federal integrator." The company said the deal calls for it to provide servers for deployment in harsh industrial environments.
Swift Transportation (NASDAQ:SWFT - News) entered into a definitive merger agreement with an entity formed by Jerry Moyes, the company's largest shareholder, a current director, and former chairman of the board and CEO of Swift, to be acquired by Moyes and certain of his family members in an all-cash deal valued at approximately $2.74 billion, including the assumption of approximately $332 million of net debt.
Published By MarketWatch

Labels: AOS, ARTX, AVRX, AYR, BEBE, EFUT, ELK, FMDAD, HAL, HOKU, HSP, IPGP, JNJ, KCAP, LGN, MSFT, NOVL, OMNI, SCLD, SWFT