Hot Stocks Of The Day (MEMS, CQB, CPWM, NKBP, AOL)
MEMSIC, INC. (NASDAQ:MEMS) shares plunged 35.70% to $2.45 in the morning hour after the company announced that it expects second quarter revenue to be between $14-$16 million, GAAP net loss (EPS) to be in the range of $0.04-$0.06 per share. Analysts are expecting the Company to report revenue of $20 million and EPS of $(0.02) for second quarter of 2012. The company also announced the availability of the latest member of its AMR based Magnetic Sensor family, the 3-Axis ultra-small MMC3316xMT. It provides the industry’s highest accuracy performance, lowest noise and low power consumption combined with enhanced sensing range and exceptionally small package, and addresses the ever-increasing demands of mobile applications.
Chiquita Brands International, Inc. (NYSE:CQB) stock plunged 29.18% to $5.68 in the early hour after the company incurred a first quarter loss of $11 million, or $0.24 per share, as compared with earnings of $24 million, or $0.52 per share a year earlier. Total sales fell 4% to $793 million. Excluding items the company posted earnings of $0.04 a share. Analysts had expected $0.32 a share on revenue of $768 million.
Cost Plus, Inc. (NASDAQ:CPWM) shares soared 21.62% to $21.88 in the early hour after Bed Bath & Beyond Inc. and Cost Plus, Inc. today jointly announced that they have entered into a definitive agreement under which Bed Bath & Beyond Inc. will acquire Cost Plus, Inc. in an all cash transaction.
Bed Bath & Beyond Inc. has agreed to make a cash tender offer for all outstanding shares of Cost Plus, Inc. common stock at a price of $22 per share, followed by a merger in which all shareholders that have not tendered would receive the same consideration.
China Nuokang Bio-Pharmaceutical Inc. (NASDAQ:NKBP) stock surged 25.41% to $4.64 in the morning hour after the company today announced that its board of directors has received a preliminary, non-binding proposal from Mr. Baizhong Xue, chairman of the board and chief executive officer of Nuokang, to acquire all of the outstanding ordinary shares of the Company not currently owned, legally or beneficially, by Mr. Xue and companies controlled by Mr. Xue in cash at a proposed price of $5.80 per American depositary share.
AOL, Inc. (NYSE:AOL) shares increased 3.21% to $26.40 in the morning hour after the company’s profit jumped in the first quarter. The company posted first-quarter net income of $21.1 million or $0.22 per share, as compared to $4.7 million or $0.04 per share last year. Total revenues were $529.4 million, down 4% from $551.4 million a year earlier. Analysts expected earnings per share of $0.07 on revenues of $526.48 million for the quarter.