Morning Movers 06/07: (INVE) (SMT) (EGLE) Higher; (MOH) (NAV) (CNC) (MW) Lower
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Molina Healthcare Inc. (NYSE: MOH) 29.9% LOWER; are under heavy pressure early Thursday after withdrawing financial guidance as premium revenue associated with the STAR+PLUS contracts in its Texas expansion is not adequate to cover the medical costs associated with serving members under existing conditions. Click here to see the full report.
Navistar International (NYSE: NAV) 26.4% LOWER; reported Q1 EPS of ($1.99), $2.70 worse than the analyst estimate of $0.71. Revenue for the quarter came in at $3.3 billion versus the consensus estimate of $3.66 billion. Sees FY2012 EPS of $0.00-$2.00, versus the consensus of $3.73.
Identive Group, Inc. (Nasdaq: INVE) 18.6% HIGHER; today provided details on a series of recently-disclosed cost reduction measures to bolster the Company's cash position and support its long-term growth strategy. These measures are expected to result in savings of $4 million to $5 million in the remainder of 2012 and include an 11% reduction in the Company's global workforce, acceleration of the elimination of duplicate expenses at newly acquired companies, reductions in other general and administrative expenses, the consolidation of facilities, as well as temporary reductions of nearly $0.5 million in executive and management salaries and Board fees. The Company expects to incur charges of $0.7 million to $0.9 million in 2012 in connection with the cost reduction program.
SMART Technologies (Nasdaq: SMT) 16.1% HIGHER; breaking above several technical indicators this morning. Volume seems rather heavy.
Centene (NYSE: CNC) 15.6% LOWER; numerous healthcare providers are getting hit on the Molina warning.
Mens Wearhouse, Inc. (NYSE: MW) 15.4% LOWER; reported Q1 EPS of $0.52, $0.03 worse than the analyst estimate of $0.55. Revenue for the quarter came in at $536.7 million versus the consensus estimate of $593.9 million. Sees Q2 2012 EPS of $1.12-$1.13, versus the consensus of $1.22. Mens Wearhouse, Inc. sees FY2012 EPS of $2.70-$2.78, versus the consensus of $2.80.
Titan Machinery (NASDAQ: TITN) 15.5% LOWER; reported Q1 EPS of $0.36, $0.02 worse than the analyst estimate of $0.38. Revenue for the quarter came in at $421.7 million versus the consensus estimate of $391.18 million. Titan Machinery reaffirmed FY2012 guidance.
Eagle Bulk Shipping (Nasdaq: EGLE) 14.6% HIGHER; after gapping higher this morning, technicians bought the stock, pushing it above resistance at $3.
TravelCenters of America LLC (Amex: TA) 11.1% HIGHER; today announced that it has entered a memorandum of understanding with Shell Oil Products US and its affiliates to construct and operate a network of natural gas fueling lanes at TA locations along the U.S. Interstate Highway System. Click here to see the full release.
XenoPort, Inc. (Nasdaq: XNPT) 10.4% LOWER; GlaxoSmithKline plc (NYSE: GSK) and XenoPort report that the United States FDA has approved Horizant (gabapentin enacarbil) Extended-Release Tablets for the management of postherpetic neuralgia (PHN) in adults. Click here to see the full report.
CACI (Nasdaq: CACI) 10.2% HIGHER; reaffirmed its FY12 outlook. Sees FY13 EPS of $6.60-$6.90, which compares to the Street estimate of $5.69, on sales of $3.8-$4 billion, which compares to the Street estimate of $3.87 billion. The company also announced CEO Paul Cofoni will retire on December 1st, 2012. Daniel Allen will be President and CEO, while John Mengucci will take over the COO role. Also authorized the repurchase of up to 4 million shares of common stock.
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Navistar International (NYSE: NAV) 26.4% LOWER; reported Q1 EPS of ($1.99), $2.70 worse than the analyst estimate of $0.71. Revenue for the quarter came in at $3.3 billion versus the consensus estimate of $3.66 billion. Sees FY2012 EPS of $0.00-$2.00, versus the consensus of $3.73.
Identive Group, Inc. (Nasdaq: INVE) 18.6% HIGHER; today provided details on a series of recently-disclosed cost reduction measures to bolster the Company's cash position and support its long-term growth strategy. These measures are expected to result in savings of $4 million to $5 million in the remainder of 2012 and include an 11% reduction in the Company's global workforce, acceleration of the elimination of duplicate expenses at newly acquired companies, reductions in other general and administrative expenses, the consolidation of facilities, as well as temporary reductions of nearly $0.5 million in executive and management salaries and Board fees. The Company expects to incur charges of $0.7 million to $0.9 million in 2012 in connection with the cost reduction program.
SMART Technologies (Nasdaq: SMT) 16.1% HIGHER; breaking above several technical indicators this morning. Volume seems rather heavy.
Centene (NYSE: CNC) 15.6% LOWER; numerous healthcare providers are getting hit on the Molina warning.
Mens Wearhouse, Inc. (NYSE: MW) 15.4% LOWER; reported Q1 EPS of $0.52, $0.03 worse than the analyst estimate of $0.55. Revenue for the quarter came in at $536.7 million versus the consensus estimate of $593.9 million. Sees Q2 2012 EPS of $1.12-$1.13, versus the consensus of $1.22. Mens Wearhouse, Inc. sees FY2012 EPS of $2.70-$2.78, versus the consensus of $2.80.
Titan Machinery (NASDAQ: TITN) 15.5% LOWER; reported Q1 EPS of $0.36, $0.02 worse than the analyst estimate of $0.38. Revenue for the quarter came in at $421.7 million versus the consensus estimate of $391.18 million. Titan Machinery reaffirmed FY2012 guidance.
Eagle Bulk Shipping (Nasdaq: EGLE) 14.6% HIGHER; after gapping higher this morning, technicians bought the stock, pushing it above resistance at $3.
TravelCenters of America LLC (Amex: TA) 11.1% HIGHER; today announced that it has entered a memorandum of understanding with Shell Oil Products US and its affiliates to construct and operate a network of natural gas fueling lanes at TA locations along the U.S. Interstate Highway System. Click here to see the full release.
XenoPort, Inc. (Nasdaq: XNPT) 10.4% LOWER; GlaxoSmithKline plc (NYSE: GSK) and XenoPort report that the United States FDA has approved Horizant (gabapentin enacarbil) Extended-Release Tablets for the management of postherpetic neuralgia (PHN) in adults. Click here to see the full report.
CACI (Nasdaq: CACI) 10.2% HIGHER; reaffirmed its FY12 outlook. Sees FY13 EPS of $6.60-$6.90, which compares to the Street estimate of $5.69, on sales of $3.8-$4 billion, which compares to the Street estimate of $3.87 billion. The company also announced CEO Paul Cofoni will retire on December 1st, 2012. Daniel Allen will be President and CEO, while John Mengucci will take over the COO role. Also authorized the repurchase of up to 4 million shares of common stock.
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