Morning U.S. Price Gainers for September 2: (BKC, OREX, SCMR, HWD, PIR)

September 2nd, 2010 at 11:45 am Posted by

These newsworthy stocks have emerged as price gainers for Thursday, September 2, 2010:

BKC $23.40 +24.07%
Today, Burger King Holdings, Inc. (NYSE: BKC) announced it has entered into a definitive agreement to be acquired by 3G Capital for $24 per share, or $4 billion. This represents a premium of more than 45% since BKC shares started their rise yesterday after sale rumors sent shares of one of the largest fast-food chains soaring more than 15% on Wednesday. Today, shares of this fast-food giant have gained as much as 24.6% over Wednesday’s close of $18.86 per share.

OREX $5.57 +21.35%
Early this morning, Orexigen Therapeutics, Inc. (NASDAQ: OREX) and Takeda Pharmaceutical Company Limited announced they have entered into an exclusive partnership to develop and commercialize Contrave, the Company’s investigational drug for the treatment of obesity, in the United States, Canada and Mexico. Orexigen submitted a New Drug Application (NDA) to the U.S. Food and Drug Administration for Contrave on March 31, 2010, and the Prescription Drug User Free Act (PDUFA) action date has been set for January 31, 2011. OREX shares have gained nearly 30%, trading as high as $5.95 earlier today.

SCMR $26.80 +20.61%
Sycamore Networks, Inc. (NASDAQ: SCMR) develops and markets intelligent bandwidth management solutions for fixed line and mobile network operators worldwide. This morning, the Company reported its results for the fourth quarter and fiscal year ended July 31, 2010. SCMR reported revenues of $22.2 million for the fourth quarter, an increase of 29% compared to revenues for the same period in fiscal 2009. Total revenues for fiscal 2010 were $68.6 million, as compared to $67.4 million in fiscal 2009. Hitting a high of $26.94 so far today, SCMR shares have gained more than 20%.

HWD $12.05 +17.45%
Harry Winston Diamond Corporation (NYSE: HWD) mines, supplies and retails diamonds, with a 40% interest in the Diavik Diamond Mine located in the Northwest Territories, Canada. Last week, Kincross Gold sold its indirect interest to the Company for $220 million in cash. More recently, the Company announced its second quarter results for the period ending July 21, 2010. During this period, sales increased 62% to $153.7 million from $94.8 million in second quarter 2009. Earnings from operations were $28.9 million, as compared to a loss from operations of $3.9 million for the same quarter of the prior year. Additionally, the Company reported increases in rough diamond sales, including volume and carats, retail sales, rough diamond production, and consolidated net income in the second quarter 2010. With this positive news, HWD shares have gained 18.7%, trading as high as $12.18 a share today.

PIR $7.35 +12.39%
This morning, shares of Pier 1 Imports, Inc. (NYSE: PIR) have soared as much as 14%, trading as high as $7.48, after the Company announced sales results for second quarter ended August 28, 2010. Comparable store sales grew 11.2%, as compared to last year’s second quarter decline of 7.6%. PIR will be holding an earnings conference call for second quarter 2011 on September 16, 2010.