StreetInsider.com Pre-Open Movers 03/06
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StreetInsider.com Pre-Open Movers:
Impac Mortgage Holdings, Inc. (NYSE: IMH) 20% HIGHER; said substantially all of the mortgages they originate or acquire are Alt-A loans not subprime. NOTE: Stock has been down significantly recently on subprime blow-up.
InterMune, Inc. (Nasdaq: ITMN) 18.4% LOWER; the DMC found the overall survival result crossed a predefined stopping boundary for lack of benefit of Actimmune relative to placebo.
The Topps Company, Inc. (Nasdaq: TOPP) 12.9% HIGHER; entered into a definitive agreement to be acquired by Michael Eisner's The Tornante Company LLC and Madison Dearborn Partners, LLC, a leading private equity firm. Under the terms of the agreement, Topps stockholders will receive $9.75 per share in cash, for a total transaction value of approximately $385.4 million.
BioCryst Pharmaceuticals, Inc. (Nasdaq: BCRX) 7.3% HIGHER; The company and Shionogi & Co., Ltd. today announced that they have entered into an exclusive license agreement to develop and commercialize BioCryst's lead influenza neuraminidase inhibitor, peramivir, in Japan for the treatment of seasonal and potentially life-threatening human influenza.
Progressive Gaming International Corp. (Nasdaq: PGIC) 7% LOWER; Goldman Sachs downgrades to Sell
New Century Financial Corp. (NYSE: NEW) 7% HIGHER; bounces after yesterday's 69% sell-off
ADC Telecom (Nasdaq: ADCT) 7% HIGHER; reports Q1 EPS of $0.08, 2 cents better than estimates.(0.06) Revenues were $297.2 million vs. $262.77 million consensus. ADC currently expects its fiscal 2007 sales to be in the range of $1.260-$1.290 billion vs. consensus of $1.27 billion. Based on this annual sales estimate and subject to sales mix and other factors, GAAP diluted EPS from continuing operations in fiscal 2007 is estimated to be in the range of $0.53 to $0.63, which includes estimated charges of $0.28. (Consensus is $0.84)
Ruth's Chris Steak House Inc. (Nasdaq: RUTH) 3.25% HIGHER; will replace New Century Financial (NEW) in the S&P SmallCap 600 index after the close of trading on Wednesday, March 7, 2007.
Impac Mortgage Holdings, Inc. (NYSE: IMH) 20% HIGHER; said substantially all of the mortgages they originate or acquire are Alt-A loans not subprime. NOTE: Stock has been down significantly recently on subprime blow-up.
InterMune, Inc. (Nasdaq: ITMN) 18.4% LOWER; the DMC found the overall survival result crossed a predefined stopping boundary for lack of benefit of Actimmune relative to placebo.
The Topps Company, Inc. (Nasdaq: TOPP) 12.9% HIGHER; entered into a definitive agreement to be acquired by Michael Eisner's The Tornante Company LLC and Madison Dearborn Partners, LLC, a leading private equity firm. Under the terms of the agreement, Topps stockholders will receive $9.75 per share in cash, for a total transaction value of approximately $385.4 million.
BioCryst Pharmaceuticals, Inc. (Nasdaq: BCRX) 7.3% HIGHER; The company and Shionogi & Co., Ltd. today announced that they have entered into an exclusive license agreement to develop and commercialize BioCryst's lead influenza neuraminidase inhibitor, peramivir, in Japan for the treatment of seasonal and potentially life-threatening human influenza.
Progressive Gaming International Corp. (Nasdaq: PGIC) 7% LOWER; Goldman Sachs downgrades to Sell
New Century Financial Corp. (NYSE: NEW) 7% HIGHER; bounces after yesterday's 69% sell-off
ADC Telecom (Nasdaq: ADCT) 7% HIGHER; reports Q1 EPS of $0.08, 2 cents better than estimates.(0.06) Revenues were $297.2 million vs. $262.77 million consensus. ADC currently expects its fiscal 2007 sales to be in the range of $1.260-$1.290 billion vs. consensus of $1.27 billion. Based on this annual sales estimate and subject to sales mix and other factors, GAAP diluted EPS from continuing operations in fiscal 2007 is estimated to be in the range of $0.53 to $0.63, which includes estimated charges of $0.28. (Consensus is $0.84)
Ruth's Chris Steak House Inc. (Nasdaq: RUTH) 3.25% HIGHER; will replace New Century Financial (NEW) in the S&P SmallCap 600 index after the close of trading on Wednesday, March 7, 2007.
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