CardioNet Inc. (BEAT) shares rallied 16 percent to $5.16 at the start of trading Wednesday, the most intraday since December 2009. The heart device maker was upgraded to “Hold” from “Sell” at Citigroup (C) after it reported an adjusted Q1 loss, which excludes restructuring-related expenses and other charges, of $0.02 a share, narrower than the $0.14 loss estimated by analysts on average. CardioNet said its first quarter loss narrowed to $1.6 million, or $0.06 per share, from $5.4 million, or $0.23 per share, y/y. Revenue rose 7% to $34 million. Volume has exploded with nearly 640,000 BEAT shares already trading hands compared to a 3-month daily average volume of just 128,000. Day’s range: $4.76 – $5.20. Shares of CardioNet closed at $4.43 on Tuesday on Nasdaq.
Green Mountain Coffee Roasters Inc. (GMCR) is 20 percent higher Wednesday morning after delivering strong quarterly results. The seller of Keurig single-cup brewers also boosted its full year earnings and sales guidance, saying it now sees its 2011 non-GAAP earnings per diluted share in the range of $1.43 to $1.50 from $1.19 to $1.29 per share. Today’s trading range for shares of GMCR has been between $75.00 and $78.45. Volume: 7.1 million vs 3m daily average of 4.1 million. Ticker closed at $64.07 on Tuesday on Nasdaq.
ValueClick Inc. (VCLK) advanced as much as 14 percent in early trading to $19.73, the most intraday since August 2006. The digital marketing company reported Q1 earnings of $0.21 per share, $0.03 better than the Thomson Reuters (TRI) consensus of $0.18. Revenues rose 21.7% year-over-year to $116.5 million versus the $113.7 million consensus. ValueClick forecast second-quarter adjusted earnings of as much as $0.26 a share, topping the average analyst estimate by as much as $0.03 a share. Volume has exploded with 4.3 million shares already trading hands compared to a 3-month daily average volume of 1 million. Day’s range: $18.00 – $19.73 Shares of VCLK closed at $16.47 on Tuesday on Nasdaq.
Varian Semiconductor Equipment Associates Inc. (VSEA) spiked 51 percent to $61.43, after Applied Materials Inc. (AMAT) announced its $4.9 billion bid in the pre-market. Applied Materials, of Santa Clara, Calif., agreed to pay $63 a share for ion-implantation equipment supplier Varian, a 55% premium to the stock’s closing price of $40.55 a share at 4 p.m. Tuesday on the Nasdaq. Volume has exploded with nearly 27 million VSEA shares already trading hands compared to a 3-month daily average volume of 1.2 million.
FEI Co. (FEIC) gained 11 percent to $36.10 in morning trade on the Nasdaq, the highest intraday since June 2007. The high-precision microscope maker projected profit of at least $0.55 a share in the second quarter. The forecast prompted its PPS target to be raised to $40 from $36 a share at McAdams Wright Ragen. Today’s trading range for FEIC has been between $34.06 and $36.10. Volume: 800,000 vs 3m daily average of 355,000. Ticker previous close: $31.76.
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