Morning Movers 10/28: Apria (AHG) Higher on Expected Merger Closing, PAREXEL (PRXL) Sinks On Guidance

October 28, 2008 9:39 AM EDT

StreetInsider.com Morning Movers

Apria Healthcare Group Inc. (NYSE: AHG) 44% HIGHER; merger with an affiliate of The Blackstone Group (NYSE: BX) is scheduled to close later today.

PAREXEL (Nasdaq: PRXL) 28% LOWER; reports Q1 EPS of $0.23, 1 cent better than the analyst estimate of $0.22. Revenue for the quarter was $263 million, versus the consensus of $274.38 million. Sees Q2 EPS of $0.18-$0.20, versus the consensus of $0.27 and revs of $265-$275 million, versus the consensus of $306.7 million. Raises FY09 EPS from $1.09-$1.17 to $1.07-$1.13, versus the Street of $1.14 and revs move from $1.22-$1.25 billion to $1.1-$1.13 billion, versus the consensus of $1.23 billion.

Discover Financial Services (NYSE: DFS) 13% HIGHER; reached a $2.75 bilion agreement with Visa Inc. (NYSE: V) and MasterCard Inc. (NYSE: MA) in the settlement of a lawsuit seeking damages for practices that suppressed third-party issuing on the Discover Network and the acceptance of its cards.

Valero Energy Corporation (NYSE: VLO) 12% HIGHER; reports Q3 EPS of $1.86, ex-items, versus the analyst estimate of $1.54. Revenue for the quarter was $35.96 billion, versus the consensus of $35.79 billion.

Choice Hotels International, Inc. (NYSE: CHH) 11% HIGHER; reports Q3 EPS of $0.57, 1 cent better than the analyst estimate of $0.56. Revenue for the quarter was $191.2 million, versus the consensus of $179.32 million.

Rent-A-Center (Nasdaq: RCII) 11% LOWER; reports Q3 EPS of $0.44, 4 cents worse than estimates. Revenues were $708.8 million vs. $700.15 million consensus. Sees Q4 revenues in the range of $698 million to $713 million vs. consensus of $721.38 million. Sees Q4 EPS in the range of $0.44 to $0.49 vs. $0.61 consensus. Sees FY revenues to be in the range of $2.830 billion and $2.890 billion vs. $2.90B consensus. Sees FY EPS in the range of $2.10 to $2.30 vs. $2.22 consensus.

Buffalo Wild Wings, Inc. (Nasdaq: BWLD) 9% LOWER; reports Q3 EPS of $0.25, 6 cents lower than the analyst estimate of $0.31. Revenue for the quarter was $106.1 million, versus the consensus of $104.36 million.

Harmonic (Nasdaq: HLIT) 7% HIGHER; reports Q3 EPS of $0.17, ex-items, in-line with the analyst estimate of $0.17. Revenue for the quarter was $91.5 million, versus the consensus of $90.44 million. Sees Q4 sales in the range of $92-$95 million, versus the consensus of $93.74 million. Non-GAAP gross margins are expected to be 49-51%.

Royal Caribbean (NYSE: RCL) 6% HIGHER; reports Q3 earnings of $1.92 per share, above the consensus of $1.66. Revenues came in at $2.06 billion, versus the consensus of $2.05 billion. Business conditions for the quarter were about as expected, but operating expenses were lower. Royal Caribbean sees Q4 EPS of $0.05-$0.10 versus the consensus of $0.17. Royal Caribbean sees FY EPS of $2.73-$2.78 based on today's fuel costs, versus the consensus of $2.59.

UAL Corporation (Nasdaq: UAUA) 6% HIGHER; Calyon upgrades

AMR Corporation (NYSE: AMR) 5% HIGHER; Calyon upgrades

Delta Air Lines Inc. (NYSE: DAL) 5% HIGHER; Calyon upgrades

EarthLink (Nasdaq: ELNK) 5% HIGHER reports Q3 earnings of $0.49 per share, above the consensus of $0.40. Revenues came in at $230.8 million, versus the consensus of $229.9 million. Also increases guidance.

Meritage Homes Corporation (NYSE: MTH) 5% LOWER; reports Q3 loss of $4.69, which does not compare to the analyst estimate of ($0.53). Revenue for the quarter was $374.77 million, versus the consensus of $396.22 million.

Carpenter Technology (NYSE: CRS) 5% LOWER; reports Q1 EPS of $0.58, 24 cents below the analyst estimate of $0.82. Revenue for the quarter was $413.7 million, versus the consensus of $452.15 million.

Texas Roadhouse (Nasdaq: TXRH) 4.6% LOWER; reports Q3 EPS of $0.12, 1 cent lower than the analyst estimate of $0.13. Revenue for the quarter was $217.7 million, versus the consensus of $219.31 million.

Carnival Corp. (NYSE: CCL) 4% HIGHER; Strong results from rival Royal Caribbean.

Whirlpool (NYSE: WHR) 4% LOWER; reports Q3 earnings of $2.15 per share, well above the consensus of $1.69. Revenues came in at $4.9 billion, versus the consensus of $4.98 billion. Whirlpool sees FY08 EPS of $5.75-$6.00 below the prior guidance of $7.00-$7.50 and the consensus of $7.25. Whirlpool to cut 5,000 jobs.

U.S. Steel (NYSE: X) 4% HIGHER; reports Q3 EPS of $7.79, above the consensus of $7.09. Revenues came in at $7.31 billion, versus the consensus of $7.2 billion. U.S. Steel sees decline in Q4 results.

Abaxis, Inc. (Nasdaq: ABAX) 4% HIGHER; reports Q3 EPS of $0.15, versus the analyst estimate of $0.15. Revenue for the quarter was $27.7 million, versus the consensus of $27.80 million.

Archer-Daniels-Midland Co. (NYSE: ADM) 4% HIGHER; Soleil stats coverage at Buy

Veeco Instruments Inc. (Nasdaq: VECO) 4% HIGHER; reports Q3 EPS of $0.15 (ex-items), 3 cents better than the analyst estimate of $0.12. Revenue for the quarter was $115.7 million, versus the consensus of $115.04 million. Veeco currently forecasts fourth quarter 2008 revenues to be in the range of $110-$118 million. (Consensus is $116.37 million). Veeco's fourth quarter earnings per share are currently forecasted to be between $0.08 to $0.15 on a non-GAAP basis. (Consensus is $0.15). VECO sees FY revenues between $440-450 million vs. $445.82 million consensus.

Micrel Semiconductor (Nasdaq: MCRL) 3% LOWER; reports Q3 EPS of $0.13, 1 cent better than the analyst estimate of $0.12. Revenue for the quarter was $67.5 million, versus the consensus of $70.64 million.

Ceradyne, Inc. (Nasdaq: CRDN) 3% LOWER; reports Q3 adj-EPS of $1.04, 7 cents lower than the analyst estimate of $1.11. Revenue for the quarter was $167.7 million, versus the consensus of $182.73 million. Revised its FY08 sales guidance to $695-$700 million, versus the consensus of $728.77 million and EPS in the range of $4.00-$4.15, versus the consensus of $4.53.

Exelixis (Nasdaq: EXEL) 3% HIGHER; reports a Q3 loss of $0.36, 5 cents better than the analyst estimate of ($0.41). Revenue for the quarter was $29.9 million, versus the consensus of $29.36 million.

Carter's Inc. (NYSE: CRI) 3% HIGHER; will replace Captaris Inc. (NASDAQ: CAPA) in the S&P SmallCap 600 after the close of trading on Friday, October 31. Captaris is being acquired in a cash deal expected to close on or about that date, pending final approvals.

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