U.S. Energy Systems ( USEY) jumped 22% after the company said its majority-owned unit agreed to acquire a firm that has the rights to 62.4 billion cubic feet of onshore natural gas in the U.K. The company, an owner of generating facilities and a provider of energy services, also plans to acquire a gas off-take agreement and a 42 megawatt gas-fired power plant from a European utility. The acquisitions will require financing of around $70 million. U.S. Energy expects to contribute at least $5 million in equity in connection with the transactions. Shares of U.S. Energy were up 47 cents to $2.59. Trimeris ( TRMS) surged 13% a day after the drug developer said it swung to a fourth-quarter profit. The company reported a profit of $3.8 million, or 17 cents a share, compared with a loss of $5.7 million, or 27 cents a share, a year earlier. Revenue rose to $7.96 million from $536,000. Analysts had expected the company to lose 1 cent a share and have revenue of $6.29 million. Trimeris said it expects continued profitability in 2006. Shares gained $1.51 to $13.25. Allion Healthcare ( ALLI) sank more than 18% after the provider of pharmacy and disease-management services said it will restate its financial results for the quarter ended June 30, 2005, and the nine months ended Sept. 30, 2005. The restatement will correct the omission of a noncash interest expense related to warrants to purchase 100,000 shares. The warrants were issued to an outside director last April. Allion expects the restatement to result in an expense of around $700,000 to $900,000. For the fourth quarter, Allion said net sales rose to $37.8 million from $16.4 million a year ago. The company had earnings of $378,000, or 3 cents a share, compared with last year's loss of $530,000, or 17 cents a share. Allion expects first-quarter earnings of 3 cents to 5 cents and sales of $38 million to $40 million. Fiscal-year earnings should be 54 cents to 60 cents with sales of $220 million to $240 million. Allion was down $2.93 at $12.87.
Schnitzer Steel ( SCHN) saw its shares climb 7.3% after Morgan Stanley initiated coverage of the metal recycler with an overweight rating. Shares gained $2.26 to $32.64 in recent trading. Waste Services ( WSII) fell nearly 11% following the company's latest quarterly report. The trash hauler posted fourth-quarter revenue of $96.3 million, up from $93.2 million a year ago, and narrowed its loss to $12.1 million, or 12 cents a share, from $13.1 million, or 14 cents a share, last year. Waste Services dropped 36 cents to $3.05.