Morning Movers 01/05: (DNDN) (ACOM) (OCLR) (NEI) Higher; (BKS) (AEO) (RECN) (GSM) Lower
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Dendreon Corporation (Nasdaq: DNDN) 41.3% HIGHER; reports revenue for the fourth quarter ended December 31, 2011, reporting gross product revenue of approximately $82 million. This represents approximately 25% growth over the third quarter ended September 30, 2011, and approximately 230% growth compared to the fourth quarter ended December 31, 2010. In addition, Dendreon reported full-year gross revenues from PROVENGE® (sipuleucel-T) sales of approximately $228 million.
Barnes & Noble (NYSE: BKS) 24.6% LOWER; cuts its FY12 outlook: sales from about $7.4 billion to $7-$7.2 billion, which compares to the Street estimate of $7.33 billion. Loss raised from 10-50 cents per share to $1.10-$1.40 per share. The Street is looking for a loss of 63 cents per share. Also announced it is considering the sale of its NOOK unit.
Ancestry.com Inc. (Nasdaq: ACOM) 16% HIGHER; reported that it ended the fourth quarter with 1,703,000 paying subscribers, above the company's guidance of 1,685,000 – 1,695,000 subscribers. Monthly churn declined to 3.8% in the quarter, down from third quarter 2011 and fourth quarter 2010. The company also noted it remains comfortable with its previously issued financial guidance for the fourth quarter and full year ended December 31, 2011. The company also announced today that it currently expects 2012 revenue growth in the mid-to-high teens. 2012 adjusted EBITDA margins are expected to expand year-over-year, exclusive of ongoing investment in the company's DNA product initiative, which could range from $10 to $15 million in 2012.
Oclaro, Inc. (NASDAQ: OCLR) 14.6% HIGHER; today provided further details about the progress of the company's recovery efforts from the flooding in Thailand. The Company also announced preliminary revenues of approximately $86 million for the quarter ended December 31, 2011 compared to a guidance range of $75 million to $85 million which was provided by the Company on November 9, 2011. This is above the Streets current estimate of $80.69 million.
NEI (NYSE: NEI) 14.4% HIGHER; raises its Q1 sales guidance from $58-$63 million to $68-$70 million, which compares to the Street estimate of $60.3 million. GAAP net income moves from $500K-$1 million to $1.3-$1.6 million.
American Eagle (NYSE: AEO) 13.2% LOWER; reports total sales for the months of November and December were $887 million, up 15 percent from the same period last year. Same-store sales rose 12 percent. Lowers its Q4 EPS guidance from 40-44 cents to 33-35 cents. The Street is currently looking for Q4 EPS of 43 cents.
Globe Specialty Metals (NASDAQ: GSM) 11.5% LOWER; Jefferies downgraded the stock to Hold with a price target of $16 (down form $22.50). Click here to see the full report.
Resources Connection (NASDAQ: RECN) 11% LOWER; reported Q2 EPS of $0.11, $0.01 worse than the analyst estimate of $0.12. Revenue for the quarter came in at $145 million versus the consensus estimate of $146.99 million.
Zumiez (Nasdaq: ZUMZ) 10.4% HIGHER; December same-store sales up 10 percent. Raises its Q4 EPS guidance from 52-54 cents to 57-58 cents, which compares to the Street estimate of 54 cents. Sales move from $174-$177 million to $180-$181 million, which compares to the Street estimate of $176.8 million.
PROLOR Biotech (AMEX: PBTH) 9.8% HIGHER; likely trading higher on the heels of Dendreon news.
Mattson Technology (Nasdaq: MTSN) 9.8% HIGHER; appears to be breaking over the $1.50 level following news yesterday of follow-on orders for Helios XP RTP system.
MetroPCS Communications, Inc. (NYSE: PCS) 9.6% LOWER; has announced selected subscriber information for the quarter and year ended December 31, 2011. In the fourth quarter of 2011, MetroPCS reported gross additions of approximately 1.22 million subscribers, which represents a 7 percent increase over the fourth quarter of 2010. The Company ended the fourth quarter of 2011 with over 9.3 million subscribers, which includes net additions during the quarter of 197 thousand subscribers. MetroPCS added approximately 1.2 million subscribers during the twelve months ended December 31, 2011.
Life Partners (Nasdaq: LPHI) 9.3% LOWER; continuing lower today following a 17 percent decline yesterday amid news of an SEC lawsuit.
Leap Wireless International, Inc. (Nasdaq: LEAP) 9.2% LOWER; estimates that it added approximately 175,000 customers during the fourth quarter of 2011. The Company's estimated net customer additions for the fourth quarter include approximately 200,000 voice customers, approximately 65,000 of which were added outside of Cricket's network footprint areas. The Company estimates that it added approximately 413,000 net customer additions in 2011, ending the year with approximately 5.9 million customers.
Sun Healthcare Group, Inc. (NASDAQ: SUNH) 9.1% HIGHER; today reaffirmed its 2011 updated financial guidance and established its outlook for 2012. The Company believes that its 2011 adjusted EBITDAR and diluted earnings per share will be at the high end of the previously announced range. For 2012, the Company expects EBITDAR to be in the range of $222 million to $228 million and diluted earnings per share to be between $0.45 and $0.60, versus the consensus of $0.25.
A123 Systems (Nasdaq: AONE) 8.3% HIGHER; today announced that it will supply complete lithium ion battery packs to VIA Motors, an electric vehicle company building next-generation electrified trucks, vans and SUVs. To be integrated into VIA's Extended-Range Electric Vehicle (eREV) Powertrain, A123's 24kWh battery packs combine with a 300kW electric motor and an onboard generator to deliver an expected all-electric driving range of up to 40 miles.
Human Genome (Nasdaq: HGSI) 8.3% HIGHER; trading higher amid Dendreon news.
The Children's Place Retail Stores, Inc. (Nasdaq: PLCE) 8% LOWER; reports that it now expects earnings per diluted share from continuing operations for the fourth quarter of fiscal 2011 to be in the range of $0.85 to $0.90, compared to its previous guidance of $1.19 to $1.24. The Street is modeling EPS of $1.23.
Tesoro (NYSE: TSO) 8% LOWER; sees Q4 loss of 55-80 cents per share, compared to the Street estimate of 67 cents per share. Sees FY12 EPS of $3.85-$4.10, vs. the consensus of $5.34. The company cited "an extremely weak margin environment in California and the collapse of the West Texas Intermediate to Brent crude oil spread.
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Barnes & Noble (NYSE: BKS) 24.6% LOWER; cuts its FY12 outlook: sales from about $7.4 billion to $7-$7.2 billion, which compares to the Street estimate of $7.33 billion. Loss raised from 10-50 cents per share to $1.10-$1.40 per share. The Street is looking for a loss of 63 cents per share. Also announced it is considering the sale of its NOOK unit.
Ancestry.com Inc. (Nasdaq: ACOM) 16% HIGHER; reported that it ended the fourth quarter with 1,703,000 paying subscribers, above the company's guidance of 1,685,000 – 1,695,000 subscribers. Monthly churn declined to 3.8% in the quarter, down from third quarter 2011 and fourth quarter 2010. The company also noted it remains comfortable with its previously issued financial guidance for the fourth quarter and full year ended December 31, 2011. The company also announced today that it currently expects 2012 revenue growth in the mid-to-high teens. 2012 adjusted EBITDA margins are expected to expand year-over-year, exclusive of ongoing investment in the company's DNA product initiative, which could range from $10 to $15 million in 2012.
Oclaro, Inc. (NASDAQ: OCLR) 14.6% HIGHER; today provided further details about the progress of the company's recovery efforts from the flooding in Thailand. The Company also announced preliminary revenues of approximately $86 million for the quarter ended December 31, 2011 compared to a guidance range of $75 million to $85 million which was provided by the Company on November 9, 2011. This is above the Streets current estimate of $80.69 million.
NEI (NYSE: NEI) 14.4% HIGHER; raises its Q1 sales guidance from $58-$63 million to $68-$70 million, which compares to the Street estimate of $60.3 million. GAAP net income moves from $500K-$1 million to $1.3-$1.6 million.
American Eagle (NYSE: AEO) 13.2% LOWER; reports total sales for the months of November and December were $887 million, up 15 percent from the same period last year. Same-store sales rose 12 percent. Lowers its Q4 EPS guidance from 40-44 cents to 33-35 cents. The Street is currently looking for Q4 EPS of 43 cents.
Globe Specialty Metals (NASDAQ: GSM) 11.5% LOWER; Jefferies downgraded the stock to Hold with a price target of $16 (down form $22.50). Click here to see the full report.
Resources Connection (NASDAQ: RECN) 11% LOWER; reported Q2 EPS of $0.11, $0.01 worse than the analyst estimate of $0.12. Revenue for the quarter came in at $145 million versus the consensus estimate of $146.99 million.
Zumiez (Nasdaq: ZUMZ) 10.4% HIGHER; December same-store sales up 10 percent. Raises its Q4 EPS guidance from 52-54 cents to 57-58 cents, which compares to the Street estimate of 54 cents. Sales move from $174-$177 million to $180-$181 million, which compares to the Street estimate of $176.8 million.
PROLOR Biotech (AMEX: PBTH) 9.8% HIGHER; likely trading higher on the heels of Dendreon news.
Mattson Technology (Nasdaq: MTSN) 9.8% HIGHER; appears to be breaking over the $1.50 level following news yesterday of follow-on orders for Helios XP RTP system.
MetroPCS Communications, Inc. (NYSE: PCS) 9.6% LOWER; has announced selected subscriber information for the quarter and year ended December 31, 2011. In the fourth quarter of 2011, MetroPCS reported gross additions of approximately 1.22 million subscribers, which represents a 7 percent increase over the fourth quarter of 2010. The Company ended the fourth quarter of 2011 with over 9.3 million subscribers, which includes net additions during the quarter of 197 thousand subscribers. MetroPCS added approximately 1.2 million subscribers during the twelve months ended December 31, 2011.
Life Partners (Nasdaq: LPHI) 9.3% LOWER; continuing lower today following a 17 percent decline yesterday amid news of an SEC lawsuit.
Leap Wireless International, Inc. (Nasdaq: LEAP) 9.2% LOWER; estimates that it added approximately 175,000 customers during the fourth quarter of 2011. The Company's estimated net customer additions for the fourth quarter include approximately 200,000 voice customers, approximately 65,000 of which were added outside of Cricket's network footprint areas. The Company estimates that it added approximately 413,000 net customer additions in 2011, ending the year with approximately 5.9 million customers.
Sun Healthcare Group, Inc. (NASDAQ: SUNH) 9.1% HIGHER; today reaffirmed its 2011 updated financial guidance and established its outlook for 2012. The Company believes that its 2011 adjusted EBITDAR and diluted earnings per share will be at the high end of the previously announced range. For 2012, the Company expects EBITDAR to be in the range of $222 million to $228 million and diluted earnings per share to be between $0.45 and $0.60, versus the consensus of $0.25.
A123 Systems (Nasdaq: AONE) 8.3% HIGHER; today announced that it will supply complete lithium ion battery packs to VIA Motors, an electric vehicle company building next-generation electrified trucks, vans and SUVs. To be integrated into VIA's Extended-Range Electric Vehicle (eREV) Powertrain, A123's 24kWh battery packs combine with a 300kW electric motor and an onboard generator to deliver an expected all-electric driving range of up to 40 miles.
Human Genome (Nasdaq: HGSI) 8.3% HIGHER; trading higher amid Dendreon news.
The Children's Place Retail Stores, Inc. (Nasdaq: PLCE) 8% LOWER; reports that it now expects earnings per diluted share from continuing operations for the fourth quarter of fiscal 2011 to be in the range of $0.85 to $0.90, compared to its previous guidance of $1.19 to $1.24. The Street is modeling EPS of $1.23.
Tesoro (NYSE: TSO) 8% LOWER; sees Q4 loss of 55-80 cents per share, compared to the Street estimate of 67 cents per share. Sees FY12 EPS of $3.85-$4.10, vs. the consensus of $5.34. The company cited "an extremely weak margin environment in California and the collapse of the West Texas Intermediate to Brent crude oil spread.
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