Pre-Open Movers 8/20: Novatel (NVTL) Sinks On Results/Guidance; Suntech (STP) Higher

August 20, 2008 9:21 AM EDT

StreetInsider.com Pre-Open Movers:

Verifone (NYSE: PAY) 28% HIGHER; sees Q4 EPS of $0.36 to $0.39, versus the analyst estimate of $0.21. Sees revenues for the quarter were $260 million to $268 million, versus the consensus of $229.6 million. VeriFone Holdings sees FY09 EPS of $1.35-$1.55 versus analyst consensus of $1.01. For the full year ending Oct 31, 2009, VeriFone expects to achieve net revenue growth of 10 to 15% annual growth, consistent with its long-term growth targets. VeriFone is projecting continued improvements to gross margins as the year progresses as a result of product cost reduction initiatives and improved pricing strategies.

U.S. Energy Corp. (Nasdaq: USEG) 20% HIGHER; entered into a definitive Exploration, Development and Mine Operating Agreement for its Lucky Jack molybdenum property, located in Gunnison County, Colorado, with Thompson Creek Metals Company Inc. (NYSE: TC). Under the terms of the agreement, which are valued at up to $400 million, Thompson Creek has the right to earn up to a 75% interest in the project.

Novatel Wireless (Nasdaq: NVTL) 19% LOWER; reports preliminary Q2 EPS of $0.03, which may not compare to the analyst estimate of $0.11. Revenues for the quarter were $89.8 million, versus the consensus of $87.84 million. Sees Q3 sales in the range of $80-$85 million, versus the consensus of $96.55 million and non-GAAP EPS of $0.00-$0.03, versus the Street estimate of $0.15.

Jack Henry & Associates (Nasdaq: JKHY) 12% LOWER; reports Q2 EPS of $0.28, 4 cents lower than the analyst estimate of $0.32. Revenues for the quarter were $188.7 million, versus the consensus of $196.28 million.

Suntech Power (NYSE: STP) 4.7% HIGHER; reports Q2 earnings of $0.41 per share, ex-items, above the consensus of $0.32. Revenues came in at $480.2 million, versus the consensus of $439.3 million. Suntech sees Q3 revenues of $570-$580 million, above the consensus of $542.65 million. Suntech sees FY08 revenues fo $2.05-$2.15 billion, versus prior guidance of $1.9-$2.1 billion, versus the consensus of $2.06 billion.

PDL BioPharma, Inc. (NASDAQ: PDLI) 3.4% HIGHER; Bristol-Myers Squibb Company (NYSE: BMY) and PDL BioPharma entered an agreement for the global development and commercialization of PDL BioPharma’s anti-CS1 antibody, elotuzumab, previously known as HuLuc63, currently in Phase I development for multiple myeloma.

Overstock.com (NASDAQ: OSTK) 3.3% LOWER; Files $500M Mixed Securities Shelf

Analog Devices (NYSE: ADI) 3% LOWER; reports Q3 EPS of $0.44, versus the analyst estimate of $0.45. Revenues for the quarter were $659 million, versus the consensus of $669.13 million. Sees Q4 EPS of $0.44-$0.46, versus the consensus of $0.46.

Hewlett-Packard (NYSE: HPQ) 3% LOWER; reports Q3 adj-EPS of $0.86, 3 cents better than the analyst estimate of $0.83. Revenues for the quarter were $28 billion, versus the consensus of $27.41 billion. Sees Q4 EPS of $1.01-$1.04, versus the consensus of $1.00 and revs of $30.2-$30.3 billion, versus $30.2 billion.

Lehman Brothers Holdings Inc. (NYSE: LEH) 2.5% LOWER; continutes today's 13% slide. After the close, Goldman Sachs lowered estimates on the i-bank.

Kohl's Corp. (NYSE: KSS) 1.8% LOWER; Goldman downgrades to Neutral

Macy's, Inc. (NYSE: M) 1.5% LOWER; Goldman downgrades to Neutral

Get This Report E-Mailed To You Daily and Much, Much More With StreetInsider.com Premium - FREE TRIAL

Related Categories

Special Reports

Stocks Mentioned

Related Entities

• Goldman Sachs
• Lehman Brothers

Add Your Comment

Name

Subject

Body

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