Morning Movers 1/12: Advanced Medical Optics (EYE) Surges On Buyout; Harley-Davidson (HOG) Lower on Downgrade

January 12, 2009 10:25 AM EST

StreetInsider.com Morning Movers:

Advanced Medical Optics Inc. (NYSE: EYE) 145% HIGHER; Abbott Labs (NYSE: ABT) announced a definitive agreement to acquire the company for $22 per share in cash, for a total transaction value of approximately $2.8 billion.

EXACT Sciences Corporation (NASDAQ: EXAS) 52% HIGHER; Sequenom, Inc. (NASDAQ: SQNM) submitted a proposal to the Board of Directors of EXACT Sciences Corporation (NASDAQ: EXAS) to acquire all of the outstanding shares of common stock of EXACT Sciences in an all-stock transaction valued at approximately $41 million. Under the terms of the proposal, each share of EXACT Sciences would be exchanged for $1.50 in Sequenom common stock.

Landry's Restaurants Inc. (NYSE: LNY) 35% LOWER; announced today that it has terminated the previously announced going private transaction due to unusual circumstances with the lead lenders and the SEC is pursuing the alternative financing as set forth under a commitment from the lead lenders to refinance its existing approximately $400 million in senior notes.

Human Genome Sciences Inc. (Nasdaq: HGSI) 29% HIGHER; reports substantial progress toward commercialization. Expect major financial progress in 2009, with revenues of more than $250 million and net cash burn of less than $25 million.

Audiovox (Nasdaq: VOXX) 19% HIGHER; reported Q3 EPS of $0.29 versus the consensus of $0.19. Revenues came in at $195.6 million, versus the consensus of $183.6 million.

Hologic, Inc. (Nasdaq: HOLX) 17% HIGHER; expects first quarter fiscal 2009 revenues to be three percent below previously issued guidance. The Company now expects total revenues to be approximately $428 million to $429 million. This compares to prior Company guidance issued on November 11, 2008 of $441 million to $443 million. The consensus is $437 million. Hologic expects non-GAAP adjusted EPS for the first quarter of fiscal 2009 to meet or exceed initial expectations and be in a range of $0.30 to $0.31, as a result of a number of cost reduction initiatives the Company implemented in the first quarter. This compares to prior Company guidance for non-GAAP adjusted EPS issued on November 11, 2008 of $0.29 to $0.30. The consensus is $0.29.

Aladdin Knowledge Systems Ltd. (Nasdaq: ALDN) 15% HIGHER; entered into a definitive merger agreement to be acquired by an investor group lead by Vector Capital, a leading private equity firm specializing in the technology industry, in a transaction valued at approximately $160 million.

Harley-Davidson, Inc. (NYSE: HOG) 12% LOWER; Goldman cuts to Sell

Cytori Therapeutics (NASDAQ: CYTX) 7.5% HIGHER; announced the formation of a partnership with GE Healthcare (NYSE: GE) to commercialize Cytori's Celution System in select European countries.

Alcoa, Inc. (NYSE: AA) 6.6% LOWER; Deutsche Bank downgrades to Sell

Bank of America (NYSE: BAC) 5.6% LOWER; Citi lowers estimates, sees dividend cut.

Palm, Inc. (Nasdaq: PALM) 4% HIGHER; Citi and Deutsche Bank upgrade

Kendle International (Nasdaq: KNDL) 3.6% LOWER; lowers its FY08 net service revenue guidance from $485-$500 million to $475-$480 million, versus the consensus of $488.02 million. EPS for the year are narrowed from $2.10-$2.25 to $2.12-$2.20, versus the Street estimate of $2.20.

AutoZone Inc. (NYSE: AZO) 1.8% LOWER; Bernstein downgrades to Market Perform

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