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Wednesday, May 9, 2012

Tuesday's NASDAQ Winners: SPMD, ARNA, QLTY, LOPE

New York, NY - May 9, 2012 - www.InvestorIdeas.com, a global investor research portal for independent investors, reports on top percentage gainers on the NASDAQ for Tuesday, May 08. The Nasdaq Composite fell 11.49 (-0.39%) to close at 2,946.27
SuperMedia Inc. (NASDAQ:SPMD) soared $0.56 (32.18%) to close at $2.30 after the company reported first quarter operating revenue of $363 million, a decline of 17.1% from the same quarter last year. Net Income was $62 million, which included a $28 million gain on early extinguishment of debt, represents an increase of 107% from the same quarter last year. Adjusted EBITDA was $148 million, a decline of 3.9% from the same quarter last year. The Company’s cash balance on March 31, 2012 was $157 million.
Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) added $0.70 (25.74%) to close at $3.42 as the company said it expects a positive vote from the FDA for its weight loss drug, lorcaserin. The meeting is scheduled for May 10, 2012.
Quality Distribution, Inc. (NASDAQ:QLTY) rose $1.40 (12.97%) to close at $12.19 as the company agreed to acquire the assets of Wylie Bice Trucking LLC and RM Resources LLC for up to $98.3 million, expanding its presence in the North American oil patch.
Additionally, the company reported first quarter net income of $6.7 million or $0.26 per diluted share, as compared to $2.7 million, or $0.12 per diluted share, in the same quarter last year. Total revenue was $191.9 million, an increase of 7.9% versus the same quarter last year.
Grand Canyon Education Inc (NASDAQ:LOPE) edged up 1.95 (12.16%) to end at $17.98 after the company reported first quarter net income of $14.5 million or $0.32 per share, as compared to $9.5 million or $0.21 per share for the year-ago quarter. Net revenue increased 15.2% to $117.1 million. Analysts expected the company to earn $0.26 per share on revenue of $113.48 million for the first quarter.
Looking forward, the company now forecasts second quarter net revenue of $113.5 million to $115.5 million and earnings of $0.26 to $0.27 per share. Analysts currently expect the company to earn $0.25 per share on revenue of $113.73 million for the second quarter.
For the full year 2012, the company now forecasts net revenue of $478 million to $486 million and earnings of $1.24 to $1.30 per share. Analysts currently expect the company to earn $1.21 per share on revenue of $477.53 million for the full year 2012.
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