Morning Movers 7/31: ANDS, NVTL, TOMO, RODM, DISK Higher; SYNA, ARIA, HTCH, PIR, AWRE, GPRO, PKI Lower

July 31, 2009 9:54 AM EDT

Anadys Pharmaceuticals, Inc. (Nasdaq: ANDS) 44.4% HIGHER; announced finalization of the protocol for the Company's Phase II trial of ANA598 in combination with pegylated interferon-alpha and ribavirin in hepatitis C patients. Allowance of the protocol has been received from the US FDA, and patient dosing is expected to commence within the next several weeks. Also reported a Q2 loss of $0.21, 7 cents better than the analyst estimate of ($0.28).

Synaptics Inc. (Nasdaq: SYNA) 26.9% LOWER; reported Q4 EPS of $0.36, below the consensus of $0.44. Revenues came in at $115.3 million, versus the consensus of $112.1 million. The company sees 2010 revenues of $495-$525 million, versus the consensus of $522.5 million. Also announced that its Chairman and CEO will be retiring. The stock was downgraded to Hold at Jefferies.

Novatel Wireless (Nasdaq: NVTL) 23.2% HIGHER; reports Q2 EPS of $0.02, 5 cents better than the analyst estimate of ($0.03). Revenue for the quarter was $84.1 million, versus the consensus of $77.41 million.

ARIAD Pharmaceuticals, Inc. (Nasdaq: ARIA) 18.9% LOWER; reports a Q2 loss of $0.25, in-line with the analyst estimate of ($0.25). Revenue for the quarter was $2.05 million, versus the consensus of $3.29 million.

Hutchinson Technology, Inc. (Nasdaq: HTCH) 16.7% LOWER; reports Q3 loss of $0.78, versus the analyst estimate of ($0.85). Revenue for the quarter was $106.1 million, versus the consensus of $84.79 million.

Pier 1 Imports, Inc. (NYSE: PIR) 16.4% LOWER; today announced that the Company has entered into separate privately negotiated purchases and exchange agreements under which it will retire $69.5 million in aggregate principal of the Company's outstanding 6.375% Convertible Senior Notes due 2036. Under the exchange agreements for $64.5 million of Existing Notes, holders received $61 million in aggregate principal of new 9% Convertible Senior Notes due 2036. As part of the transaction, the Company also purchased $5.0 million of Existing Notes for cash. Following these transactions, approximately $16.6 million in principal amount of the Existing Notes remain outstanding.

Aware, Inc. (Nasdaq: AWRE) 14.3% LOWER; reports Q2 loss of $0.06, ex-items, 4 cents worse than the analyst estimate of ($0.02). Revenue for the quarter was $5.8 million, versus the consensus of $4.83 million.

TomoTherapy Incorporated (Nasdaq: TOMO) 14.1% HIGHER; reports Q2 EPS of $0.14, 7 cents better than the analyst estimate of ($0.21). Revenue for the quarter was $41.1 million, versus the consensus of $34.88 million. Lowers FY09 guidance from a loss of $0.60-$0.85 to a loss of $0.65-$0.90, versus the consensus of $0.78.

Gen-Probe (Nasdaq: GPRO) 13.7% LOWER; reports Q2 EPS of $0.45, 2 cents better than the analyst estimate of $0.43. Revenue for the quarter was $120.5 million, versus the consensus of $123.16 million. Sees Q3 revenues $185M to $195M versus $193M consensus. Also downgraded at both William Blair and Baird.

Rodman & Renshaw Capital Group, Inc. (NASDAQ: RODM) 13.4% HIGHER; reports Q2 EPS of $0.29, ex-items, versus the analyst estimate of ($0.13). Revenue for the quarter was $33.4 million, versus the consensus of $10.40 million.

PerkinElmer Inc. (NYSE: PKI) 13% LOWER; reports Q2 EPS of $0.28, 1 cent better than the analyst estimate of $0.27. Revenue for the quarter was $434.6 million, versus the consensus of $459.29 million. Sees FY09 EPS of $1.18-$1.24, versus the consensus of $1.27. Downgraded to Neutral at Baird.

Image Entertainment, Inc. (NASDAQ: DISK) 12.1% HIGHER; announced today that it had entered into a Second Amendment and Exchange Agreement with the holder of its 7.875% Senior Convertible Note pursuant to which the Company issued an Amended and Restated Secured Convertible Note in exchange for the Original Note. The amendment serves to defer until October 30, 2009 a $4 million principal payment that the holder of the Original Note could have required the Company to pay on July 30, 2009. The amendment further provides that the Installment shall be further deferred until November 30, 2009 if the Company enters into a written agreement with a bona fide purchaser, prior to October 30, 2009, that would result in a change of control of the Company. YRCW) 11.8% LOWER; reports Q2 loss of $3.53, ex-items, versus the analyst estimate of ($1.71). Revenue for the quarter was $1.33 million, versus the consensus of $1.59 billion.

Pitney Bowes Inc. (NYSE: PBI) 11.8% LOWER; reports Q2 EPS of $0.55, 5 cents below the analyst estimate of $0.60. Revenue for the quarter was $1.38 billion, versus the consensus of $1.43 billion. Sees FY09 EPS $2.15 to $2.35 versus $2.46 consensus.

Las Vegas Sands Corp. (NYSE: LVS) 11.8% LOWER; reports Q2 EPS of $0.01, 2 cents better than the analyst estimate of ($0.01). Revenue for the quarter was $1.06 billion, versus the consensus of $1.08 billion. Downgraded to Underperform at Wedbush Morgan.

Evergreen Solar, Inc. (Nasdaq: ESLR) 11.3% LOWER; reports Q2 EPS of ($0.11), 3 cents below the analyst estimate of ($0.08). Revenue for the quarter was $63.8 million, versus the consensus of $63.37 million.

Power Integrations (Nasdaq: POWI) 11.1% HIGHER; reports Q2 EPS of $0.25, 10 cents better than the analyst estimate of $0.15. Revenue for the quarter was $49.3 million, versus the consensus of $41.21 million. Sees Q3 revs of $54-$58 million, versus the consensus of $44.7 million. The stock was also upgraded to Overweight at Thomas Weisel.

Genoptix (Nasdaq: GXDX) 11% HIGHER; reports Q2 EPS of $0.44, 13 cents better than the analyst estimate of $0.31. Revenue for the quarter was $43.5 million, versus the consensus of $42.38 million. Genoptix expects revenues for the full-year 2009 of between $175 and $180 million, an increase from previous estimates of approximately $170 to $175 million. (Consensus is $175.15 million) Diluted EPS for the full-year 2009 is now expected to be between $1.40 and $1.45, increasing from a prior range of $1.20 to $1.25. (Consensus is $1.33)

NetSuite Inc. (NYSE: N) 10.1% LOWER; reports Q2 EPS of $0.01, 1 cent better than the analyst estimate of $0.00. Revenue for the quarter was $40.3 million, versus the consensus of $40.12 million.

First Solar, Inc. (Nasdaq: FSLR) 10% LOWER; reports Q2 EPS of $2.11, versus the analyst estimate of $1.62. Revenue for the quarter was $525.9 million, versus the consensus of $459.12 million.

ABAXIS, Inc. (Nasdaq: ABAX) 9.9% HIGHER; reported Q1 EPS of $0.17, 2 cents better than the analyst estimate of $0.15. Revenue for the quarter was $29.6 million, versus the consensus of $28.76 million.

CEC Entertainment (NYSE: CEC) 9.8% LOWER; reports Q2 EPS of $0.39, 2 cents worse than the analyst estimate of $0.41. Revenue for the quarter was $184.8 million, versus the consensus of $185.74 million.

Isilon Systems, Inc. (Nasdaq: ISLN) 9.1% HIGHER; reports Q2 EPS of ($0.06), 3 cents better than the analyst estimate of ($0.09). Revenue for the quarter was $29 million, versus the consensus of $28.23 million. The stock was also upgraded to Buy at Needham and ThinkEquity.

Orthofix International (Nasdaq: OFIX) 8.5% HIGHER; reports Q2 EPS of $0.42 versus the analyst estimate of $0.23. Revenue for the quarter was $137.5 million, versus the consensus of $132.47 million. Re-affirms forecast. The stock was also upgraded to Overweight at Thomas Weisel.

Level 3 Communications Inc. (Nasdaq: LVLT) 8.5% LOWER; downgraded to Sell at Goldman following earnings yesterday and the ensuing 12% slide.

To get this report daily, visit http://www.streetinsider.com/entities/Morning+Movers.

Related Categories

Special Reports

Stocks Mentioned

Related Entities

• William Blair
• Jefferies & Co
• Robert W Baird
• Needham & Co
• ThinkEquity
• Wedbush Morgan
• Thomas Weisel Partners Group
• Rodman & Renshaw
• StreetInsider.com Morning Movers

Add Your Comment

Name

Subject

Body

Verification can't see the text?
click here to refresh the image.
what's this?