StreetInsider.com After-Hours Movers 09/25
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StreetInsider.com After-Hours Movers:
Merix Corp. (Nasdaq: MERX) 14.3% LOWER; announced preliminary first quarter results. The company said consolidated revenues for the quarter were approximately $106 million, versus the consensus of $104.2 million. On a non-GAAP basis, Merix expects net income of between $4.0 million and $4.6 million, or between $0.19 and $0.21 per diluted share, versus the consensus of $0.31.
Avid Technology Inc. (Nasdaq: AVID) 11.8% LOWER; While the company still expects a sequential improvement in both revenue and EPS for the third quarter, it is narrowing its estimate of a possible non-GAAP EPS range from the $0.35 to $0.49 range previously provided in the company's July 20, 2006 second quarter earnings conference call to the lower half of that range. Current consensus is $0.49.
Innovex Inc. (Nasdaq: INVX) 11.5% LOWER; fourth quarter revenue is expected to be approximately $32 million, down from the Company's previous guidance of $39 to $42 million. The consensus is $41.34 million.
PMC-Sierra, Inc. (Nasdaq: PMCS) 10% LOWER; provided an update to its business outlook for the third quarter of 2006. The Company now expects revenues to be in the range of $114 million to $116 million compared to revenues in the second quarter of 2006 of $118.8 million. The Company's previous outlook for third quarter revenues announced on the July 20th 2006 earnings conference call was for a revenue range of $122 million to $124 million. Current consensus is $123.14 million.
Arena Pharmaceuticals Inc. (Nasdaq: ARNA) 7.8% LOWER; Merck (MRK) to Discontinue Development of MK-0354
AngioDynamics Inc. (Nasdaq: ANGO) 5% HIGHER; reports Q1 EPS of $0.12, 2 cents better than estimates. Revenues were $20.3 million vs. $20.23 million consensus. For fiscal 2007, AngioDynamics expects net sales growth to exceed 28% compared with fiscal 2006, to approximately $101 million. Current consensus is $101.25 million
Acorda Therapeutics, Inc. (Nasdaq: ACOR) 4.7% HIGHER; continues today's 283% run-up after announcing positive results from its Phase 3 clinical trial of Fampridine-SR on walking in people with multiple sclerosis (MS). Statistical significance was achieved on all three efficacy criteria defined in the Special Protocol Assessment by the FDA.
Andrew Corp. (Nasdaq: ANDW) 2.65% LOWER; The Western Union Company (NYSE: WU) will replace Andrew Corp. in the S&P 500
Lowe's Companies, Inc. (NYSE: LOW) 1% HIGHER; indicated current sales are trending below its prior expectations, but the company anticipates delivering diluted earnings per share at or near the low end of its prior guidance range of $2.00 to $2.07.
Merix Corp. (Nasdaq: MERX) 14.3% LOWER; announced preliminary first quarter results. The company said consolidated revenues for the quarter were approximately $106 million, versus the consensus of $104.2 million. On a non-GAAP basis, Merix expects net income of between $4.0 million and $4.6 million, or between $0.19 and $0.21 per diluted share, versus the consensus of $0.31.
Avid Technology Inc. (Nasdaq: AVID) 11.8% LOWER; While the company still expects a sequential improvement in both revenue and EPS for the third quarter, it is narrowing its estimate of a possible non-GAAP EPS range from the $0.35 to $0.49 range previously provided in the company's July 20, 2006 second quarter earnings conference call to the lower half of that range. Current consensus is $0.49.
Innovex Inc. (Nasdaq: INVX) 11.5% LOWER; fourth quarter revenue is expected to be approximately $32 million, down from the Company's previous guidance of $39 to $42 million. The consensus is $41.34 million.
PMC-Sierra, Inc. (Nasdaq: PMCS) 10% LOWER; provided an update to its business outlook for the third quarter of 2006. The Company now expects revenues to be in the range of $114 million to $116 million compared to revenues in the second quarter of 2006 of $118.8 million. The Company's previous outlook for third quarter revenues announced on the July 20th 2006 earnings conference call was for a revenue range of $122 million to $124 million. Current consensus is $123.14 million.
Arena Pharmaceuticals Inc. (Nasdaq: ARNA) 7.8% LOWER; Merck (MRK) to Discontinue Development of MK-0354
AngioDynamics Inc. (Nasdaq: ANGO) 5% HIGHER; reports Q1 EPS of $0.12, 2 cents better than estimates. Revenues were $20.3 million vs. $20.23 million consensus. For fiscal 2007, AngioDynamics expects net sales growth to exceed 28% compared with fiscal 2006, to approximately $101 million. Current consensus is $101.25 million
Acorda Therapeutics, Inc. (Nasdaq: ACOR) 4.7% HIGHER; continues today's 283% run-up after announcing positive results from its Phase 3 clinical trial of Fampridine-SR on walking in people with multiple sclerosis (MS). Statistical significance was achieved on all three efficacy criteria defined in the Special Protocol Assessment by the FDA.
Andrew Corp. (Nasdaq: ANDW) 2.65% LOWER; The Western Union Company (NYSE: WU) will replace Andrew Corp. in the S&P 500
Lowe's Companies, Inc. (NYSE: LOW) 1% HIGHER; indicated current sales are trending below its prior expectations, but the company anticipates delivering diluted earnings per share at or near the low end of its prior guidance range of $2.00 to $2.07.
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