StreetInsider.com Pre-Open Movers 06/26
StreetInsider.com Pre-Open Movers:
Ventana Medical Systems (Nasdaq: VMSI): 49% HIGHER; Roche offers $75/share to acquire the company. VMSI has declined to enter talks.
Huntsman Corp. (NYSE: HUN) 28% HIGHER; Basell agrees to acquire Huntsman for $25.25 per share
Energy East Corporation (NYSE: EAS) 20% HIGHER; IBERDROLA will acquire 100% of Energy East, which will become part of the IBERDROLA group. According to the terms of the merger agreement, the shareholders of Energy East would receive $28.50 in cash per share at closing.
GeoPharma Inc. (Nasdaq: GORX) 13% HIGHER; For the year, the Company reported record revenues of $59,792,000 with a net income and earnings per share of $2,206,000 and $.22 per share basic and $.17 per share diluted
Alliance Fiber Optic Products, Inc. (NASDAQ: AFOP) 8.5% HIGHER; For the 2nd quarter of 2007, the Company expects to report net sales above $8.3 million, exceeding previously stated revenue guidance provided in the first quarter conference call.
FreightCar America, Inc. (NASDAQ: RAIL) 5.5% LOWER; sees Q2 in the range of $0.85 to $0.95 per diluted share. The company said the North American market for most railcar types has softened considerably since last year and industry orders and backlogs have declined.
IXYS Corporation (Nasdaq: IXYS) 5% LOWER; IXYS now expects net revenues for the quarter ending June 30, 2007 to be between $70 and $72 million, versus the consensus of $74.99 million.
West Marine, Inc. (Nasdaq: WMAR) 4.3% LOWER; said FY07 sales are expected to be approximately $683 million to $688 million. The company is revising its full year 2007 earnings guidance to be in the range of $0.24 to $0.34 per share versus the previously issued guidance range of $0.45 to $0.55 per share. The consensus is $701.4 million and $0.38.
General Growth Properties Inc. (NYSE: GGP) 3.7% HIGHER; will replace Mellon Financial Corp. (NYSE: MEL) in the S&P 500 after the close of trading on Friday, June 29.
Smith Micro Software (Nasdaq: SMSI) 3.2% LOWER; JP Morgan Starts Smith Micro Software (SMSI) at Overweight
Encysive Pharmaceuticals Inc. (Nasdaq: ENCY) 3% HIGHER; George W. Cole has been promoted to the position of President and CEO, replacing Dr. Bruce D.
Lennar Corporation (NYSE: LEN) 2.6% LOWER; reports a Q2 loss of $1.55, or $0.22 ex-items, which may not compare to the consensus of a $0.10 loss. Revenues fell 33% to $2.7 billion, versus the consensus of $2.49 billion. CEO Miller said, "As we look to our third quarter and the remainder of 2007, we continue to see weak, and perhaps deteriorating, market conditions."
Adobe Systems Inc. (Nasdaq: ADBE) 1.6% LOWER; Goldman Sachs downgrade
Target Corp. (NYSE: TGT) 1.2% LOWER; sees June comp sales growth near lower end of 3%-5%
Advanced Medical Optics, Inc. (NYSE: EYE) INDICATED LOWER; For 2007, the company expects sales in the range of $1,050 million to $1,070 million and an adjusted loss per share in the range of $0.95 to $1.15. Previous 2007 guidance was $1,150 million to $1,175 million in sales and $1.40 to $1.55 in adjusted EPS. The company\'s guidance for 2008 sales is a range of $1,230 million to $1,250 million, and a range of $1.55 to $1.75 for 2008 adjusted earnings per share. Previous 2008 guidance was $1,350 million to $1,370 million in sales, and $2.25 to $2.40 adjusted EPS.
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