Notable Early Hour Stock Movers (MELA, OMN, RHT)
Top Early Hour Movers.
(EMAILWIRE.COM, March 25, 2010 ) Dallas, Tx - Electro-Optical Sciences, Inc. (NASDAQ:MELA) plunged 24.50% to $6.91 in the opening session after being received additional questions from U.S. FDA regarding the review status of the Pre-Market Approval application of its MelaFind device for early melanoma detection. The FDA indicated that the MelaFind PMA review has been extended 180 days.
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OMNOVA Solutions Inc. (NYSE:OMN) jumped over 11% to $8.24 after the company posted a better-than-expected first-quarter profit and revenue due to improved volumes and higher selling prices. The company earned $7.8 million, or 17 cents a share, compared to a loss of $0.1 million, or breakeven per share in the previous’ year ago period.
Revenue also grew 15% to $183.9 million.
Analysts were looking the company to report earnings of 10 cents a share on revenue of $179.0 million.
Red Hat, Inc. (NYSE:RHT) fell over 5% to $29.16 after the company provided a worse than expected profit forecast for the fiscal year ending in February 2011.
For the fourth quarter, Red Hat reported a profit, excluding items, of 19 cents per share, beating the Wall Street average forecast of 16 cents. Quarterly revenue grew 18% from a year earlier to $196 million, beating the average forecast of $193 million.
Red Hat also forecast it would report fiscal first-quarter profit, excluding items, of 17 cents to 18 cents per share on revenue of $202 million to $204 million. Analysts are expecting it to report profit of 18 cents on revenue of $199 million.
The company said project a profit, excluding items, of 71 cents to 74 cents per share in the fiscal year ending in February 2011, lower than the average analyst forecast of 76 cents.
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OMNOVA Solutions Inc. (NYSE:OMN) jumped over 11% to $8.24 after the company posted a better-than-expected first-quarter profit and revenue due to improved volumes and higher selling prices. The company earned $7.8 million, or 17 cents a share, compared to a loss of $0.1 million, or breakeven per share in the previous’ year ago period.
Revenue also grew 15% to $183.9 million.
Analysts were looking the company to report earnings of 10 cents a share on revenue of $179.0 million.
Red Hat, Inc. (NYSE:RHT) fell over 5% to $29.16 after the company provided a worse than expected profit forecast for the fiscal year ending in February 2011.
For the fourth quarter, Red Hat reported a profit, excluding items, of 19 cents per share, beating the Wall Street average forecast of 16 cents. Quarterly revenue grew 18% from a year earlier to $196 million, beating the average forecast of $193 million.
Red Hat also forecast it would report fiscal first-quarter profit, excluding items, of 17 cents to 18 cents per share on revenue of $202 million to $204 million. Analysts are expecting it to report profit of 18 cents on revenue of $199 million.
The company said project a profit, excluding items, of 71 cents to 74 cents per share in the fiscal year ending in February 2011, lower than the average analyst forecast of 76 cents.
ABOUT http://www.wepickpennystocks.com
Wepickpennystocks provide Stock Newsletter on various stocks of the day. To make the right investment in the stock business you need up to date information. We provide alerts on penny stocks ,most active stocks and much more. Our hot stock alerts will help you gain insight into the stock trading so that you can make maximum profit.
###
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This is a press release. Press release distribution and press release services by EmailWire.Com: http://www.emailwire.com/us-press-release-distribution.php.
Wepickpennystocks
Robert
Tel: 214 556 6798
Email us
This is a press release. Press release distribution and press release services by EmailWire.Com: http://www.emailwire.com/us-press-release-distribution.php.
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