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growthequities
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Marcus-Goetz Laun Vice President at Chardan Capital Markets Greater New York City Area Investment Banking Previous Knight Equity Markets, HYPE North America Inc., Brean Murray & Co. Inc Education MBA, Finance at Columbia Business School
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Growth Equities
  • Greebrier Up On Stake Sale; AK Steel Holding Trounced On Bleak Forecast 0 comments
    Nov 13, 2012 4:35 PM

    ZaZa Energy Corporation (NASDAQ:ZAZA) was the chief buzzing stock on Tuesday when the broader markets were more or less listless. The stock gained more than 32% to climb to $1.81 on volumes of more than 2 million shares. The company posted record third quarter results which took the stock up in trade. Revenues were up at $207 million and net income came in at $133 million leading to an EPS of $1.02. Read more on the results here.

    ZaZa Energy Corporation engages in the exploration and development of unconventional onshore oil and gas resources in the United States and Europe. As of December 31, 2011, it had interests in approximately 82,000 gross acres in the Eaglebine formation, south Texas; and approximately 997,000 gross exploration acres in the Paris Basin, France.

    Sharing ZaZa's good fortunes in trade was Greenbrier Companies (NYSE:GBX) as the stock rose 19% to climb to $16.60 on volumes more than thrice the daily (click to enlarge)average. News of billionaire activist investor Carl Icahn buying 9.99% stake in the company was the reason for this strong rise. Mr. Icahn reportedly paid $40.3 million for 2.7 million shares of the Lake Oswego based maker of rail cars and barges. Read more on the story here.

    On Tuesday most stocks performing well were driven by better than expected third quarter results. Galena Biopharma (NASDAQ:GALE) conformed to this trend as it rose more than 21% to trade at $1.70 on volumes of nearly 5 million shares. Net loss for the three months ended September 30, 2012 was $6.3 million, or $0.09 per basic and diluted share, this was lower marginally by $0.01 compared to analysts' estimates. Galena Biopharma is a biotechnology company focused on developing innovative, targeted oncology treatments to advance cancer care.

    On the down side, Hi-Crush Partners LP's limited partner units (NYSE:HCLP) tanked more than 20 percent in trade after the company announced the end of a key contract. Read more on the announcement here.

    Hi-Crush produces premium monocrystalline sand, a specialty product used to enhance recovery rates in oil and natural gas wells. Baker Hughes Oilfield Operations Inc. notified the company in September that it would terminate a supply agreement. This announcement by Hi-Crush led to the units falling to $16.23, down by $4.12 on volumes of nearly 3 million shares.

    Among the retailer stocks, ValueVision Media Inc (NASDAQ:VVTV) fell more than 18% to trade at $1.87 on volumes of close to 900,000 shares. ValueVision Media operates as a multichannel electronic retailer in the United States. It markets, sells and distributes products to consumers through television, online, mobile, and social media platforms.

    One of the volume leaders of the day was AK Steel Holding Corporation (NYSE:AKS). Unfortunately, it was one of the biggest losers as well. The stock lost more than 16% to trade at $4.58 on huge volumes of more than 19 million shares. The company gave a bleak forecast as it cut its profit estimates. The downward revision came as prices continue to fall in the steel sector on account of global economic weakness and slowdown in China, the world's largest customer. The company forecast a Q4 loss of 67-72 cents per share, compared with a 55-cent loss in Q3.

    AK Steel Holding Corporation, through its subsidiaries, produces flat-rolled carbon, stainless and electrical steels, and tubular products. It is the fourth largest steel manufacturer in the US.

    Growth Equities (http://s.tt/1tiFW)

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

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