New York, NY - May 22 2012 (Investorideas.com newswire)
Investorideas.com, a leader in sector research including China stocks,
reports on NASDAQ leaders for morning trading May 22. Three of the five
top percentage gainers are China stocks: Cleantech Solutions
International, Inc. (NASDAQ:CLNT), ChinaCache International Holdings Ltd. (NASDAQ:CCIH) and China Gerui Advanced Materials Group Ltd. (NASDAQ: CHOP).
Cleantech Solutions International, Inc. (NASDAQ:CLNT)
is trading at $3.33, up 0.90(37.03%) 11:59AM EDT with a day's high of
$3.91.The Company reported news of a $1.7 million wind turbine order.
ChinaCache International Holdings Ltd. (NASDAQ:CCIH)
is trading up at $5.44, up 0.94(20.89%) 11:49AM EDT on over 90.000
shares. The Company, a provider of content delivery network services in
China, yesterday announced its unaudited condensed consolidated
financial results for the Company's first quarter ended March 31, 2012.
Today the Company received new analyst ratings.
China Gerui Advanced Materials Group Ltd. (NASDAQ: CHOP).is
trading at $2.64, up 0.40(17.86%) 11:44AM EDT on over 122,000 shares.
The Company, a high precision, cold-rolled steel producer in China,
today announced unaudited financial results for the three months ended
March 31, 2012.
It has to be considered somewhat ironic to investors that some of
NASDAQ's top gainers are China stocks when NASDAQ is clamping down so
hard on the sector.
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Tuesday, May 22, 2012
Friday, May 18, 2012
Thursday's NASDAQ Winners: KONG, SPWR, PAAS, HZNP
New York, NY - May 18, 2012 - www.InvestorIdeas.com, a global
investor research portal for independent investors, reports on top
percentage gainers on the NASDAQ for Thursday, May 17. The Nasdaq
Composite fell another 60.35 (-2.10%) to close at the session’s low of
2,813.69.
KongZhong Corporation (ADR) (NASDAQ:KONG) gained 12.33% to $6.65 in the previous trading session after the company reported first quarter net income of $6.9 million or $0.16 per American Depositary Share, or ADS, as compared to a net loss of $456,000 or $0.01 per ADS in the same period last year. Non-GAAP net income for the quarter was $8.7 million or $0.21 per ADS. Revenues for the quarter rose 12% to $43.8 million from $40.1 million a year ago.
Looking forward, the company expects second quarter net profit in the range of $6.5 million-$7.5 million, non-GAAP net profit in the range of $9 million-$10 million and revenues in the range of $49 million-$50 million.
Solar stock SunPower Corporation (NASDAQ:SPWR) shares jumped 10.04% to end at $5.59. On May 15, 2012, Scottsdale Unified School District and SunPower Corp. celebrated the installation of 5.5 megawatts of high efficiency SunPower solar power systems at 11 District schools. The systems are expected to reduce the District's electricity costs by $25 million over the next 25 years.
Pan American Silver Corp. (USA) (NASDAQ:PAAS) gained 7.65% to close at $16.04. The company's first-quarter profit fell 46% as expenses tied to the acquisition of a Mexican gold and silver operation masked a jump in revenue. The company posted a first quarter profit of $50.2 million, or $0.47 a share, as compared to $92.7 million, or $0.86 a share, a year earlier. Adjusted earnings fell to $0.58 a share. Revenue jumped 20% to $228.8 million, primarily on higher realized precious metals prices. Analysts expected a $0.46 a share profit with $230 million of revenue.
Horizon Pharma Inc (NASDAQ:HZNP) added 7.07% without any official news. The 52-week trading range for the stock is $3.05 - $9.34. Horizon Pharma, Inc. is a biopharmaceutical company that develops and commercializes medicines to target unmet therapeutic needs in arthritis, pain and inflammatory diseases.
Recently, the company released its first-quarter financial results. For the first quarter ended March 31, 2012, the company reported net sales of $2.5 million, as compared with $1.8 million reported for the same period in the previous year. The company's net loss for the quarter was $23.7 million, or $0.98 per share, compared with $7.7 million, or $5.13 per share reported for the same period in the previous year.
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KongZhong Corporation (ADR) (NASDAQ:KONG) gained 12.33% to $6.65 in the previous trading session after the company reported first quarter net income of $6.9 million or $0.16 per American Depositary Share, or ADS, as compared to a net loss of $456,000 or $0.01 per ADS in the same period last year. Non-GAAP net income for the quarter was $8.7 million or $0.21 per ADS. Revenues for the quarter rose 12% to $43.8 million from $40.1 million a year ago.
Looking forward, the company expects second quarter net profit in the range of $6.5 million-$7.5 million, non-GAAP net profit in the range of $9 million-$10 million and revenues in the range of $49 million-$50 million.
Solar stock SunPower Corporation (NASDAQ:SPWR) shares jumped 10.04% to end at $5.59. On May 15, 2012, Scottsdale Unified School District and SunPower Corp. celebrated the installation of 5.5 megawatts of high efficiency SunPower solar power systems at 11 District schools. The systems are expected to reduce the District's electricity costs by $25 million over the next 25 years.
Pan American Silver Corp. (USA) (NASDAQ:PAAS) gained 7.65% to close at $16.04. The company's first-quarter profit fell 46% as expenses tied to the acquisition of a Mexican gold and silver operation masked a jump in revenue. The company posted a first quarter profit of $50.2 million, or $0.47 a share, as compared to $92.7 million, or $0.86 a share, a year earlier. Adjusted earnings fell to $0.58 a share. Revenue jumped 20% to $228.8 million, primarily on higher realized precious metals prices. Analysts expected a $0.46 a share profit with $230 million of revenue.
Horizon Pharma Inc (NASDAQ:HZNP) added 7.07% without any official news. The 52-week trading range for the stock is $3.05 - $9.34. Horizon Pharma, Inc. is a biopharmaceutical company that develops and commercializes medicines to target unmet therapeutic needs in arthritis, pain and inflammatory diseases.
Recently, the company released its first-quarter financial results. For the first quarter ended March 31, 2012, the company reported net sales of $2.5 million, as compared with $1.8 million reported for the same period in the previous year. The company's net loss for the quarter was $23.7 million, or $0.98 per share, compared with $7.7 million, or $5.13 per share reported for the same period in the previous year.
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Tuesday, May 15, 2012
Monday's NASDAQ Winners: GOLF, CSBC, XNPT, SYNC
New York, NY - May 15, 2012 - www.InvestorIdeas.com, a global
investor research portal for independent investors, reports on top
percentage gainers on the NASDAQ for Monday, May 14. The Nasdaq
Composite fell 31.24 (-1.06%) to close at 2,902.58.
Golfsmith International Holdings, Inc. (NASDAQ:GOLF) gained 28.24% after it . announced that they have signed a definitive merger agreement, pursuant to which Golf Town will acquire Golfsmith, for $6.10 per share in cash. This represents a premium of 32.2% to Golfsmith stockholders based on the volume-weighted average closing prices of the Company Common Stock on the 30 trading days immediately preceding this announcement.
Citizens South Banking Corp. (NASDAQ:CSBC) added 24.40% to close at $6.22 after they agreed to be acquired by Park Sterling Corp. for approximately $77.8 million in cash and stock.
Under the terms of the agreement, Citizens South shareholders can receive either $7.00 in cash or 1.4799 Park Sterling shares for each of their Citizens South shares, as long as 30% of the acquisition will be paid for in cash and 70% will be paid for in stock.
XenoPort, Inc. (NASDAQ:XNPT) rose 13.82% to close at $5.93. The 52 week trading range for the company is $3.46 - $8.07. Earlier this month, the company had posted first quarter revenues of $10.4 million, as compared to $0.4 million for the same period in 2011. Net loss for the first quarter was $9.1 million, as compared to a net loss of $17.2 million for the same period in 2011.
Synacor Inc. (NASDAQ:SYNC) climbed 14.07% after analysts at Needham & Company raised their price target on shares of Synacor from $8.00 to $13.00 in a research report issued to clients and investors on Thursday. The firm currently has a "buy" rating on the stock.
Recently, the company reported $0.06 EPS for the quarter, beating the consensus estimate of $0.03 by $0.03. The company's quarterly revenue was up 63.6% on a year-over-year basis. Analysts expect the company to post $0.03 EPS next quarter.
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Golfsmith International Holdings, Inc. (NASDAQ:GOLF) gained 28.24% after it . announced that they have signed a definitive merger agreement, pursuant to which Golf Town will acquire Golfsmith, for $6.10 per share in cash. This represents a premium of 32.2% to Golfsmith stockholders based on the volume-weighted average closing prices of the Company Common Stock on the 30 trading days immediately preceding this announcement.
Citizens South Banking Corp. (NASDAQ:CSBC) added 24.40% to close at $6.22 after they agreed to be acquired by Park Sterling Corp. for approximately $77.8 million in cash and stock.
Under the terms of the agreement, Citizens South shareholders can receive either $7.00 in cash or 1.4799 Park Sterling shares for each of their Citizens South shares, as long as 30% of the acquisition will be paid for in cash and 70% will be paid for in stock.
XenoPort, Inc. (NASDAQ:XNPT) rose 13.82% to close at $5.93. The 52 week trading range for the company is $3.46 - $8.07. Earlier this month, the company had posted first quarter revenues of $10.4 million, as compared to $0.4 million for the same period in 2011. Net loss for the first quarter was $9.1 million, as compared to a net loss of $17.2 million for the same period in 2011.
Synacor Inc. (NASDAQ:SYNC) climbed 14.07% after analysts at Needham & Company raised their price target on shares of Synacor from $8.00 to $13.00 in a research report issued to clients and investors on Thursday. The firm currently has a "buy" rating on the stock.
Recently, the company reported $0.06 EPS for the quarter, beating the consensus estimate of $0.03 by $0.03. The company's quarterly revenue was up 63.6% on a year-over-year basis. Analysts expect the company to post $0.03 EPS next quarter.
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Monday, May 14, 2012
Friday's NASDAQ Winners: ARNA, OREX, JST, INTX
New York, NY - May 14, 2012 - www.InvestorIdeas.com, a global
investor research portal for independent investors, reports on top
percentage gainers on the NASDAQ for Friday, May 11. The Nasdaq
Composite ended flat at 2,933.82.
Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) shares jumped 73.77% after the company announced that the Endocrinologic and Metabolic Drugs Advisory Committee of the FDA voted 18 to 4 that the potential benefits of lorcaserin outweigh the potential risks when used long-term in a population of overweight and obese individuals.
Orexigen Therapeutics, Inc. (NASDAQ:OREX) climbed 19.10% to close at $3.99 on an unusual volume of 5.64 million shares after the company said it is on schedule to start a clinical trial for its diet drug Contrave and also said it completed Phase 2 clinical trials evaluating its other weight loss drug, Empatic.
Additionally, the company posted a first quarter loss of $10.4 million, or $0.16 a share, as compared with a year-earlier loss of $11.6 million, or $0.24 a share. Revenue shrank 53% to $857,000.
Jinpan International Limited (NASDAQ:JST) added 15.39% to close at $8.62 after the company announced first quarter net sales of $42.8 million, a 43.1% increase from $29.9 million in the same period last year. Net income for the first quarter increased 44.6% to $4.0 million, or $0.24 per diluted share, as compared to $2.7 million, or $0.17 per diluted share, in the same period last year.
Looking forward, the company expects fiscal 2012 net sales growth of 20%-25% to $262-$273 million and net income growth of approximately 17%-22% to $27.8-$29.0 million. Analysts on an average are expecting the company to report revenue of $267 million and net income of $28 million for fiscal 2012.
Intersections Inc. (NASDAQ:INTX) ended higher by 13.87% at end at $12.89. On May 10, 2012, the company posted first quarter revenue of $90.2 million, as compared to $90.4 million for the quarter ended March 31, 2011. Net income for the quarter was $6.2 million, as compared to $4.6 million for the same quarter last year.
In addition, as previously announced on April 26, 2012, the company's Board of Directors declared an ordinary cash dividend of $0.20 per share of common stock payable on June 8, 2012 to shareholders of record as of May 29, 2012.
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Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) shares jumped 73.77% after the company announced that the Endocrinologic and Metabolic Drugs Advisory Committee of the FDA voted 18 to 4 that the potential benefits of lorcaserin outweigh the potential risks when used long-term in a population of overweight and obese individuals.
Orexigen Therapeutics, Inc. (NASDAQ:OREX) climbed 19.10% to close at $3.99 on an unusual volume of 5.64 million shares after the company said it is on schedule to start a clinical trial for its diet drug Contrave and also said it completed Phase 2 clinical trials evaluating its other weight loss drug, Empatic.
Additionally, the company posted a first quarter loss of $10.4 million, or $0.16 a share, as compared with a year-earlier loss of $11.6 million, or $0.24 a share. Revenue shrank 53% to $857,000.
Jinpan International Limited (NASDAQ:JST) added 15.39% to close at $8.62 after the company announced first quarter net sales of $42.8 million, a 43.1% increase from $29.9 million in the same period last year. Net income for the first quarter increased 44.6% to $4.0 million, or $0.24 per diluted share, as compared to $2.7 million, or $0.17 per diluted share, in the same period last year.
Looking forward, the company expects fiscal 2012 net sales growth of 20%-25% to $262-$273 million and net income growth of approximately 17%-22% to $27.8-$29.0 million. Analysts on an average are expecting the company to report revenue of $267 million and net income of $28 million for fiscal 2012.
Intersections Inc. (NASDAQ:INTX) ended higher by 13.87% at end at $12.89. On May 10, 2012, the company posted first quarter revenue of $90.2 million, as compared to $90.4 million for the quarter ended March 31, 2011. Net income for the quarter was $6.2 million, as compared to $4.6 million for the same quarter last year.
In addition, as previously announced on April 26, 2012, the company's Board of Directors declared an ordinary cash dividend of $0.20 per share of common stock payable on June 8, 2012 to shareholders of record as of May 29, 2012.
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Friday, May 11, 2012
Thursday's NASDAQ Winners: INSP, VRTU, FCFC, TSLA
New York, NY - May 11, 2012 - www.InvestorIdeas.com, a global
investor research portal for independent investors, reports on top
percentage gainers on the NASDAQ for Thursday, May 10. The Nasdaq
Composite fell 1.07 (-0.04%) to close at 2,933.64.
InfoSpace, Inc. (NASDAQ:INSP) shares gained 21.68% to close at $13.36 after the company's first quarter profit soared on its TaxAct acquisition.
The company reported first quarter net income of $11.4 million, or $0.28 per share, from $1.3 million, or $0.04 per share, in the same period a year earlier. Revenue more than doubled, to $115.7 million from $51.7 million a year earlier.
Virtusa Corporation (NASDAQ:VRTU) added 17.08% to end at $14.67. The company reported fourth quarter revenue of $74.2 million, an increase of 27% year-over-year in reported currency. Net income for the fourth quarter was $5.8 million, or $0.23 per diluted share, as compared to $5.2 million, or $0.21 per diluted share, for the fourth quarter of fiscal 2011
Looking forward, the company expects first quarter revenue to be in the range of $75.0 to $77.0 million with diluted earnings per share (EPS) of $0.20 to $0.24. For fiscal 2013, it expects revenue to be in the range of $314.0 to $330.0 million with diluted EPS of $0.95 to $1.11. Analysts were expecting the company to report revenue of $77 million and EPS of $0.23 for first quarter of 2013; revenue of $327 million and EPS of $1.06 for fiscal 2013.
FirstCity Financial Corporation (NASDAQ:FCFC) shares climbed to close at $9.69. The company reported first quarter 2012 earnings of $8.4 million or $0.80 per diluted share.
The company's Portfolio Asset Acquisition and Resolution business segment reported $10.8 million in earnings, comprised primarily of $17.2 million in revenues, $4.5 million of equity income from unconsolidated subsidiaries, and $9.5 million of operating costs and expenses.
Moreover, FirstCity and its partners acquired $91.2 million of portfolio assets with a face value of $210.1 million, during the first quarter of 2012.
Tesla Motors Inc(NASDAQ:TSLA) shares gained 9.65% to close at $32.96 after the company reported first-quarter net loss of $89.87 million or $0.86 per share, as compared to $48.94 million or $0.51 per share in the same quarter last year. Non-GAAP net loss widened to $79.32 million or $0.76 per share. Total revenues for the quarter dropped to $30.17 million from $49.03 million in the comparable quarter last year.
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InfoSpace, Inc. (NASDAQ:INSP) shares gained 21.68% to close at $13.36 after the company's first quarter profit soared on its TaxAct acquisition.
The company reported first quarter net income of $11.4 million, or $0.28 per share, from $1.3 million, or $0.04 per share, in the same period a year earlier. Revenue more than doubled, to $115.7 million from $51.7 million a year earlier.
Virtusa Corporation (NASDAQ:VRTU) added 17.08% to end at $14.67. The company reported fourth quarter revenue of $74.2 million, an increase of 27% year-over-year in reported currency. Net income for the fourth quarter was $5.8 million, or $0.23 per diluted share, as compared to $5.2 million, or $0.21 per diluted share, for the fourth quarter of fiscal 2011
Looking forward, the company expects first quarter revenue to be in the range of $75.0 to $77.0 million with diluted earnings per share (EPS) of $0.20 to $0.24. For fiscal 2013, it expects revenue to be in the range of $314.0 to $330.0 million with diluted EPS of $0.95 to $1.11. Analysts were expecting the company to report revenue of $77 million and EPS of $0.23 for first quarter of 2013; revenue of $327 million and EPS of $1.06 for fiscal 2013.
FirstCity Financial Corporation (NASDAQ:FCFC) shares climbed to close at $9.69. The company reported first quarter 2012 earnings of $8.4 million or $0.80 per diluted share.
The company's Portfolio Asset Acquisition and Resolution business segment reported $10.8 million in earnings, comprised primarily of $17.2 million in revenues, $4.5 million of equity income from unconsolidated subsidiaries, and $9.5 million of operating costs and expenses.
Moreover, FirstCity and its partners acquired $91.2 million of portfolio assets with a face value of $210.1 million, during the first quarter of 2012.
Tesla Motors Inc(NASDAQ:TSLA) shares gained 9.65% to close at $32.96 after the company reported first-quarter net loss of $89.87 million or $0.86 per share, as compared to $48.94 million or $0.51 per share in the same quarter last year. Non-GAAP net loss widened to $79.32 million or $0.76 per share. Total revenues for the quarter dropped to $30.17 million from $49.03 million in the comparable quarter last year.
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Thursday, May 10, 2012
Wednesday's NASDAQ Winners: CISG, SODA, CPWM, FCAL
New York, NY - May 10, 2012 - www.InvestorIdeas.com, a global
investor research portal for independent investors, reports on top
percentage gainers on the NASDAQ for Wednesday, May 09. The Nasdaq
Composite fell 11.56 (-0.39%) to close at 2,934.71.
CNinsure Inc. (ADR) (NASDAQ:CISG) shares jumped 32.48% and closed at $7.79. The company will release its financial results for the first quarter 2012 on May 22, 2012. The company expects total net revenues to grow by less than 5% for the first quarter of 2012 compared to the corresponding period of 2011. The 52 week trading range for the company is $5.23 - $17.69.
Sodastream International Limited (NASDAQ:SODA) stock added 26.41% to close at $36.90 after the company reported first quarter net income of $10.1 million from $5.5 million in the year ago period. Earnings per share increased to $0.48, as compared to $0.28 in the first quarter of 2011. Adjusted net income was $11.5 million for the period. Total revenues increased 50.2%to $87.9 million. Analysts expected the company to report earnings of $0.35 per share on revenues of $56.82 million for the quarter.
Looking forward, the company now expects 2012 net income to increase approximately 50% over 2011 net income of $27.5 million and revenues to increase approximately 33% over 2011 revenues of $289.0 million. Analysts expect the company to report revenues of $282.83 million for fiscal 2012.
Cost Plus, Inc. (NASDAQ:CPWM) shares climbed 21.90% to end at $21.93 after Bed Bath & Beyond Inc. agreed to acquire the company for $550 million or $22 per share in cash, a 22% premium over the stock's closing price of $17.99 on Tuesday.
First California Financial Group, Inc. (NASDAQ:FCAL) shares rose 19.61% and closed at $6.71. The company announced, in response to PacWest Bancorp's unsolicited and highly conditional offer to acquire First California Financial Group for shares of PacWest common stock, that its Board of Directors promptly reviewed the proposal and sought further clarifying information from PacWest concerning the terms and value of the proposal and related matters.
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CNinsure Inc. (ADR) (NASDAQ:CISG) shares jumped 32.48% and closed at $7.79. The company will release its financial results for the first quarter 2012 on May 22, 2012. The company expects total net revenues to grow by less than 5% for the first quarter of 2012 compared to the corresponding period of 2011. The 52 week trading range for the company is $5.23 - $17.69.
Sodastream International Limited (NASDAQ:SODA) stock added 26.41% to close at $36.90 after the company reported first quarter net income of $10.1 million from $5.5 million in the year ago period. Earnings per share increased to $0.48, as compared to $0.28 in the first quarter of 2011. Adjusted net income was $11.5 million for the period. Total revenues increased 50.2%to $87.9 million. Analysts expected the company to report earnings of $0.35 per share on revenues of $56.82 million for the quarter.
Looking forward, the company now expects 2012 net income to increase approximately 50% over 2011 net income of $27.5 million and revenues to increase approximately 33% over 2011 revenues of $289.0 million. Analysts expect the company to report revenues of $282.83 million for fiscal 2012.
Cost Plus, Inc. (NASDAQ:CPWM) shares climbed 21.90% to end at $21.93 after Bed Bath & Beyond Inc. agreed to acquire the company for $550 million or $22 per share in cash, a 22% premium over the stock's closing price of $17.99 on Tuesday.
First California Financial Group, Inc. (NASDAQ:FCAL) shares rose 19.61% and closed at $6.71. The company announced, in response to PacWest Bancorp's unsolicited and highly conditional offer to acquire First California Financial Group for shares of PacWest common stock, that its Board of Directors promptly reviewed the proposal and sought further clarifying information from PacWest concerning the terms and value of the proposal and related matters.
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Wednesday, May 9, 2012
Tuesday's NASDAQ Winners: SPMD, ARNA, QLTY, LOPE
New York, NY - May 9, 2012 - www.InvestorIdeas.com, a global investor
research portal for independent investors, reports on top percentage
gainers on the NASDAQ for Tuesday, May 08. The Nasdaq Composite fell
11.49 (-0.39%) to close at 2,946.27
SuperMedia Inc. (NASDAQ:SPMD) soared $0.56 (32.18%) to close at $2.30 after the company reported first quarter operating revenue of $363 million, a decline of 17.1% from the same quarter last year. Net Income was $62 million, which included a $28 million gain on early extinguishment of debt, represents an increase of 107% from the same quarter last year. Adjusted EBITDA was $148 million, a decline of 3.9% from the same quarter last year. The Company’s cash balance on March 31, 2012 was $157 million.
Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) added $0.70 (25.74%) to close at $3.42 as the company said it expects a positive vote from the FDA for its weight loss drug, lorcaserin. The meeting is scheduled for May 10, 2012.
Quality Distribution, Inc. (NASDAQ:QLTY) rose $1.40 (12.97%) to close at $12.19 as the company agreed to acquire the assets of Wylie Bice Trucking LLC and RM Resources LLC for up to $98.3 million, expanding its presence in the North American oil patch.
Additionally, the company reported first quarter net income of $6.7 million or $0.26 per diluted share, as compared to $2.7 million, or $0.12 per diluted share, in the same quarter last year. Total revenue was $191.9 million, an increase of 7.9% versus the same quarter last year.
Grand Canyon Education Inc (NASDAQ:LOPE) edged up 1.95 (12.16%) to end at $17.98 after the company reported first quarter net income of $14.5 million or $0.32 per share, as compared to $9.5 million or $0.21 per share for the year-ago quarter. Net revenue increased 15.2% to $117.1 million. Analysts expected the company to earn $0.26 per share on revenue of $113.48 million for the first quarter.
Looking forward, the company now forecasts second quarter net revenue of $113.5 million to $115.5 million and earnings of $0.26 to $0.27 per share. Analysts currently expect the company to earn $0.25 per share on revenue of $113.73 million for the second quarter.
For the full year 2012, the company now forecasts net revenue of $478 million to $486 million and earnings of $1.24 to $1.30 per share. Analysts currently expect the company to earn $1.21 per share on revenue of $477.53 million for the full year 2012.
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SuperMedia Inc. (NASDAQ:SPMD) soared $0.56 (32.18%) to close at $2.30 after the company reported first quarter operating revenue of $363 million, a decline of 17.1% from the same quarter last year. Net Income was $62 million, which included a $28 million gain on early extinguishment of debt, represents an increase of 107% from the same quarter last year. Adjusted EBITDA was $148 million, a decline of 3.9% from the same quarter last year. The Company’s cash balance on March 31, 2012 was $157 million.
Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) added $0.70 (25.74%) to close at $3.42 as the company said it expects a positive vote from the FDA for its weight loss drug, lorcaserin. The meeting is scheduled for May 10, 2012.
Quality Distribution, Inc. (NASDAQ:QLTY) rose $1.40 (12.97%) to close at $12.19 as the company agreed to acquire the assets of Wylie Bice Trucking LLC and RM Resources LLC for up to $98.3 million, expanding its presence in the North American oil patch.
Additionally, the company reported first quarter net income of $6.7 million or $0.26 per diluted share, as compared to $2.7 million, or $0.12 per diluted share, in the same quarter last year. Total revenue was $191.9 million, an increase of 7.9% versus the same quarter last year.
Grand Canyon Education Inc (NASDAQ:LOPE) edged up 1.95 (12.16%) to end at $17.98 after the company reported first quarter net income of $14.5 million or $0.32 per share, as compared to $9.5 million or $0.21 per share for the year-ago quarter. Net revenue increased 15.2% to $117.1 million. Analysts expected the company to earn $0.26 per share on revenue of $113.48 million for the first quarter.
Looking forward, the company now forecasts second quarter net revenue of $113.5 million to $115.5 million and earnings of $0.26 to $0.27 per share. Analysts currently expect the company to earn $0.25 per share on revenue of $113.73 million for the second quarter.
For the full year 2012, the company now forecasts net revenue of $478 million to $486 million and earnings of $1.24 to $1.30 per share. Analysts currently expect the company to earn $1.21 per share on revenue of $477.53 million for the full year 2012.
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From time to time Investorideas.com buys shares in companies it features. As a policy, Investorideas.com does not short stocks
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