Morning Movers 1/06: Indevus Pharmaceuticals (IDEV) Soars On Buyout, Garmin (GRMN) Lower on Downgrade

January 6, 2009 10:27 AM EST

StreetInsider.com Morning Movers:

Indevus Pharmaceuticals, Inc. (Nasdaq: IDEV) 70% HIGHER; Endo Pharma (Nasdaq: ENDP) and Indevus today announced that they have entered into a merger agreement under which Endo will commence a tender offer to acquire 100% of the outstanding shares of Indevus for approximately $370 million, or $4.50 per Indevus share, in cash (which is a 45% premium to Indevus Pharmaceuticals today), and up to an additional approximately $267 million, or $3.00 per Indevus share, in cash payable in the future upon achievement of certain regulatory and sales milestones. The transaction has been approved by the boards of directors of both companies.

Super Micro Computer, Inc. (NASDAQ: SMCI) 19% LOWER; now anticipates that it will report revenue for its second quarter of fiscal 2009 in the range of $127 to $129 million. This compares to the company’s previous guidance range of $140 to $150 million. The consensus is $143.5 million. Super Micro also announced that it anticipates that its non-GAAP earnings per share will be in a range of $0.15 to $0.16. This compares to the company’s previous guidance of $0.18 to $0.22 per share. The consensus is $0.17.

YRC Worldwide Inc. (Nasdaq: YRCW) 17% HIGHER; Upgraded at Wachovia

LSI Industries Inc. (Nasdaq: LYTS) 16% LOWER; lowers guidance. Sees EPS for 2009 of $0.16 and $0.20, versus prior guidance of 0.29 to $0.36, and analysts' "street'' estimates of $0.31 to $0.34 per share. Net sales for fiscal 2009 are now expected to be between $250 million and $265 million, compared to the previous guidance range of $290 million to $310 million.

Vignette Corporation (NASDAQ: VIGN) 14% LOWER; said it sees Q4 revenue in the range of $35 to $37 million, versus the consensus of $44 million. The company sees fourth-quarter non-GAAP net income to be between $(0.05) and $0.05 per share, versus the consensus of $0.08.

IntercontinentalExchange, Inc. (NYSE: ICE) 13% LOWER; downgrades at Goldman and UBS

LDK Solar Co., Ltd. (NYSE: LDK) 10% LOWER; today announced that based on preliminary data for Q4, LDK Solar estimates revenue to be in the range of $425-$435 million and wafer shipments between 245-255 MW and gross margin between 10% and 13%. This compares to its previously issued guidance for Q4 of revenue in the range of $555-$565 million and wafer shipments in the range of 260-270 MW, and gross margin between 18% and 21%. The Street is currently expecting Q4 sales of $540.53 million. As a result of lower average selling prices, sees FY09 sales of $2.3-$2.5 billion, versus the consensus of $2.6 billion, and wafer shipments of 1.57-1.67 GW. Gross margins for the year are expected to be between 22% and 27%.

Amedisys, Inc. (Nasdaq: AMED) 13% HIGHER; sees 2009 revenue $1.425 billion to $1.475 billion and EPS of $4.10-$4.30. This compares to the Street consensus of $1.41 billion and $3.82, respectively.

Datalink Corporation (Nasdaq: DTLK) 11% LOWER; cuts its Q4 sales guidance from $49-$53 million to about $48 million, versus the Street consensus of $51 million. For non-GAAP EPS, Datalink moves its guidance from $0.10-$0.14 to $0.07-$0.08, versus the consensus of $0.12.

Logitech International SA (Nasdaq: LOGI) 9% LOWER; Withdraws FY09 Guidance; to Reduce Global Workforce by 15%

Garmin Ltd. (Nasdaq: GRMN) 7% LOWER; Downgraded at Goldman and added to sell list

Laboratory Corporation of America Holdings (NYSE: LH) 6% LOWER; reaffirmed its prior FY08 non-GAAP EPS guidance of $4.57-$4.61, versus the consensus of $4.58. For FY09, LabCorp lowers its non-GAAP EPS guidance from $5.00-$5.25 to $4.75-$4.95, versus the Street estimate of $5.10.

Dow Chemical Co. (NYSE: DOW) 4% HIGHER; Dow Chemical (DOW) To Purse Legal Options on K-Dow, Stands By Dividend

JA Solar Holdings Co., Ltd. (Nasdaq: JASO) 3% LOWER; downgraded at Collins Stewart

Imation Corp. (NYSE: IMN) 2.9% LOWER; lowered its Q4 revenue guidance and now expects Q4 revenue to be in the range of $530 million to $540 million versus consensus estimates of $570 million. Imation said it may also report a $7 million operating loss versus previously expecting operating income to be between $7 million and $14 million.

Apple Inc. (Nasdaq: AAPL) 2.3% LOWER; Upgraded at Oppenheimer

Google Inc. (Nasdaq: GOOG) 2% HIGHER; Upgraded at Merriman Curhan

Emulex Corporation (NYSE: ELX) 1.3% HIGHER; lowers its Q2 sales guidance from $111-$116 million to $107-$108 million. The Street is currently expecting Q2 sales of $113.23 million. Also, the company cut its Q2 non-GAAP EPS estimate from $0.20-$0.23 to about $0.23, versus the consensus of $0.21.

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