StreetInsider.com Pre-Open Movers 12/12
StreetInsider.com Pre-Open Movers:
EPIX Pharmaceuticals (NASDAQ: EPIX) 51% HIGHER; GlaxoSmithKline (NYSE:GSK) and EPIX Pharmaceuticals announced a worldwide multi-target strategic collaboration to discover, develop and market novel medicines targeting four G-protein coupled receptors (GPCRs) for the treatment of a variety of diseases, including EPIX's novel 5-HT4 partial agonist program, PRX-03140, in early-stage clinical development for the treatment of Alzheimer's disease.
Valera Pharmaceuticals, Inc. (Nasdaq: VLRX) 44% HIGHER; Indevus Pharmaceuticals, Inc. (Nasdaq: IDEV - News) and Valera Pharmaceuticals announced that they have entered into a definitive agreement under which Indevus will acquire Valera in a stock transaction for $7.75 per share, or an aggregate value of approximately $120 million, plus contingent payments of up to $3.50 per share based on the achievement of future product milestones.
ADDvantage Technologies Group Inc. (AMEX: AEY) 35% LOWER; Revenue for the fourth quarter of fiscal 2006 was $12.2 million, compared to $16.0 million in the fourth quarter of 2005. Net income attributable to common stockholders in the fourth quarter of 2006 was $0.5 million, or $0.05 per diluted share, compared to $1.6 million or, $0.15 per diluted share in the year-earlier period.
Imperial Sugar Company (NASDAQ: IPSU) 15.8% HIGHER; announced fourth quarter results and announced the declaration of a special dividend of $3.00 per share payable January 5, 2007, to shareholders of record December 26, 2006.
Biomira Inc. (Nasdaq: BIOM) 13% HIGHER; receives special protocol assessment from the FDA for Phase III trial of Stimuvax for non-small cell lung cancer
Source Interlink Companies Inc. (Nasdaq: SORC) 7.3% LOWER; reports Q3 earnings of $0.16, ex-items, versus the consensus of $0.20. Revenues came in at $475.8 million versus the consensus of $499.9 million.
Best Buy Co. Inc. (NYSE: BBY) 6% LOWER; reports Q3 EPS of $0.31, versus the consensus of $0.35. Revenues came in at $8.47 billion versus the consensus of $8.45 billion. On track for FY EPS of $2.65-$2.80.
America Service Group Inc. (NASDAQ: ASGR) 5.8% LOWER; Sees FY06 revenues between $640-650 million and EPS of approx. $0.50. Current FY06 EPS consensus is 0.56 and revenue consensus is $648.48 million. Sees FY07 revenues between $570-580 million and EPS of approx. $0.86. Current FY07 EPS consensus is $1.00 and revenue consensus is $606 million.
Celestica Inc. (NYSE: CLS) 5% LOWER; now expects fourth quarter revenue in the range of $2.20 to $2.25 billion, and adjusted net earnings per share of $0.00 to $0.06. The company's previous guidance for the fourth quarter, which was provided on October 26, 2006, was for revenue of $2.25 to $2.45 billion and $0.15 to $0.23 adjusted net earnings per share.
Nucor Corporation (NYSE: NUE) 5% LOWER; announced that earnings for the fourth quarter ending December 31, 2006 are expected to be in the range of $1.05 to $1.15 per diluted share. By comparison, Nucor earned $1.09 per diluted share in the fourth quarter of 2005. The $1.05 to $1.15 per diluted share guidance for the fourth quarter represents historically strong earnings, but is below our record third quarter earnings of $1.68 per diluted share. Current consensus is $1.44.
NVE Corporation (NASDAQ: NVEC) 5% HIGHER; has been notified by the U.S. Patent and Trademark Office of the expected grant today of a patent relating to Magnetoresistive Random Access Memory (MRAM). The patent, titled "Magnetoresistive Memory SOI Cell,'' is number 7,148,531 and is the grant of a patent under the application published by the USPTO as number 2005-0242382.
Circuit City Stores Inc. (NYSE: CC) 4% LOWER; down on Best Buy's weak earnings, due to margins.
Hansen Natural Corp. (Nasdaq: HANS) 3.75% HIGHER; JP Morgan stats at Overweight
Rackable Systems Inc. (Nasdaq: RACK) 3.2% LOWER; Thomas Gallivan, the Vice President of Worldwide Sales for Rackable Systems, Inc. notified the Company that he was resigning from the Company, effective January 5, 2007.
Blue Nile Inc. (NASDAQ: NILE) 3% HIGHER; will replace Lone Star Steakhouse & Saloon Inc. (NASDAQ: STAR) in the S&P SmallCap 600 index
Crane Co. (NYSE: CR) 1.7% LOWER; Earnings are expected to be $.54 - $.58 per share in the fourth quarter of 2006, down slightly from previous guidance of $.58 - $.64 per share. Current consensus is $0.63. EPS for 2006 expected to be in the range of $2.60 to $2.64, down from $2.64 to $2.70 vs. consensus of $2.68.
Harrah's Entertainment Inc. (NYSE: HET) 1.4% HIGHER; private equity bid expected to be raised to $87
Citigroup (NYSE: C) 1.4% LOWER; announced that Robert Druskin has been named Chief Operating Officer. CEO Chuck Prince and CFO Sallie Krawcheck are both keeping their jobs, contrary to market rumors.
Salesforce.com (NYSE: CRM) 1.2% HIGHER; announced an increase in its revenue outlook for its full fiscal year 2008. The company now expects revenue to be in the range of $710 million to $720 million for its fiscal year ending January 31, 2008. On November 15, 2006, salesforce.com said that it expected FY08 revenue to be between $700 million and $710 million.
Texas Instruments Inc. (NYSE: TXN) 1.2% HIGHER; sees Q4 EPS of $0.37-$0.40, compared with the previous range of $0.40 to $0.46. The consensus is $0.42. The company sees Q4 revenues between $3.35-$3.5 billion, compared with the prior range of $3.46 billion to $3.75 billion. The consensus is $3.6 billion.
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