Pre-Market Action (BWEN, WOLF, APO, CRTX, WYNN, ESRX, MHS)
Broadwind Energy Inc. (NASDAQ:BWEN) shares slumped over 12% in the pre-market session after the company said that it had a net loss of 4 cents a share on revenue of $55.10 million in its fourth quarter, compared to analysts estimates of a loss of a penny on revenue of $50 million. The Company booked $68 million in new orders during the fourth quarter, bringing full year orders to $162 million, or 87% of sales, a 42% increase in order intake from full-year 2010.
For the full year of 2011, the loss from continuing operations narrowed to $20.7 million from a $69.8 million loss reported in 2010. Included in 2010 were non-cash impairment charges totaling $40.8 million.
Great Wolf Resorts, Inc. (NASDAQ:WOLF) shares soared over 265 in the pre-market session after the company was agreed to be acquired by Apollo Global Management LLC(NYSE:APO) in exchange of $5/share, in a deal that values the operator of indoor water parks for $703 million. Apollo will pay a premium of 19% over yesterday’s $4.19/share closing price.
Cornerstone Therapeutics, Inc. (NASDAQ:CRTX) climbed 9.35% to $6.20 in the pre-open session after the company said that the FDA has accepted a New Drug Application for CRTX 080, its product candidate for the treatment of hyponatremia.
Wynn Resorts, Limited (NASDAQ:WYNN) gained over 25 as Universal Entertainment has filed a counterclaim against the company to prevent the redemption of shares owned by Aruze USA, Inc., at a 30 percent discount, and to seek damages, punitive damages and treble damages. Last month, Wynn filed lawsuit against Kazuo Okada, Aruze USA, Inc. and Universal Entertainment, and also asked him to resign as a director and redeemed his 20% stake in the company.
Express Scripts, Inc. (NASDAQ:ESRX) and Medco Health Solutions Inc. (NYSE:MHS) are delaying the closing of their merger to give antitrust regulators extra time to review the deal which would create the largest U.S. pharmacy benefits manager, according to an SEC filing. Shares of ESRA are and MHS are up over 1% in pre-open session.