Origin Agritech, L&L Energy, Actuant Corp Among Hot Stocks as S&P Trades Above 1,400
Origin Agritech Ltd. (NASDAQ:SEED): Monness Crespi said Origin Agritech is close to gaining approval by the Chinese government for the first GMO seed in the country. The firm views potential approval as a positive but notes there is no exact time frame and that approval cold be delayed. Shares of Origin Agritech Ltd. are trading 63% higher today.
L&L Energy, Inc. (NASDAQ:LLEN): L & L Energy announced it signed a strategic sales agreement with AVIC International Coal Logistics Co., Ltd., or AVIC Logistics, to expand its efficiency and coal sales throughout the Guizhou province. Under the strategic agreement, L&L is to utilize AVIC Logistics’ platform, wholesale, and railroad network, to jointly market one million to two-million tons of coal in the calendar 2012. Using US$ 150 per ton coal price, the agreement if executed, could generate over $150M in revenues. L&L and AVIC Logistics will also work together to develop a strong supply chain management system aimed at supporting the development strategy of both parties, grow domestic and international markets with the objective of mutual benefit and development, and work together going forward throughout consolidation process in Guizhou. Shares of L&L Energy, Inc. are trading 14.77% higher today.
Actuant Corporation (NYSE:ATU): Earnings Consensus is $2.00. The mid-point of the new range would represent a 21% year-over-year increase in EPS from continuing operations. Given strong cash flow to date, sees FY12 full year free cash flow to be in the $170M-$175M range, compared to prior guidance of $165M-$170M. Sees FY12 revenue $1.6B-$1.625B, consensus $1.6B. Shares of Actuant Corporation are trading 1.47% higher today.
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