Morning Movers 1/09: Palm (PALM) Jumps On Pre Intro; CVS (CVS) Lower On Guidance
StreetInsider.com Morning Movers:
Palm, Inc. (Nasdaq: PALM) 46% HIGHER; Investors cheer Palm Pre. Upgraded at Morgan Joseph
Orexigen(R) Therapeutics, Inc. (Nasdaq: OREX) 36% LOWER; today announced that the first of four Phase 3 trials of its lead investigational product Contrave(R) (naltrexone sustained release (SR)/bupropion SR) met its co-primary and key secondary endpoints, showing a significant reduction in body weight, improvements in markers of cardiovascular risk and reductions in selected food craving measures. Click here for the full report.
SYNNEX Corporation (NYSE: SNX) 22% HIGHER; reports Q4 EPS of $0.80, 10 cents better than the analyst estimate of $0.70. Revenue for the quarter was $2.1 billion, versus the consensus of $2.14 billion. Sees Q1 sales of $1.74-$1.84 billion, versus the consensus of $1.87 billion, and EPS of $0.50-$0.53, versus the Street estimate of $0.51.
Lennar Corp. (NYSE: LEN) 16% LOWER; Negative report Barry Minkow at www.lenn-ron.com
Greenbrier Companies (NYSE: GBX) 16% LOWER; reports a Q1 loss of $0.16, ex-items, versus the consensus of a $0.15 profit. Greenbrier said the quarterly dividend has been reduced to $.04 per share from $.08.
IHS Inc. (NYSE: IHS) 15% HIGHER; reports Q4 EPS of $0.58, 6 cents better than the analyst estimate of $0.52. Revenue for the quarter was $231 million, versus the consensus of $225.23 million. Sees FY09 revenue growth of 16-18%.
Apollo Group (Nasdaq: APOL) 12% HIGHER; reports Q1 EPS of $1.12, 14 cents better than the analyst estimate of $0.98. Revenue for the quarter was $971 million, versus the consensus of $912.37 million.
Corinthian Colleges Inc. (NASDAQ: COCO) 12% HIGHER; Strong results from Apollo Group
Coach, Inc., (NYSE: COH) 12% LOWER; is lowering its earnings expectations for the second fiscal quarter ended December 27, 2008 to approximately $0.67 per share. This is below the consensus of $0.74.
CVS (NYSE: CVS) 11% LOWER; sees Q1 EPS of $0.53-$0.55, versus the consensus of $0.62. CVS sees FY EPS of $2.53-$2.61, versus the consensus of $2.69.
R.R. Donnelley & Sons Company (NYSE: RRD) 10% LOWER; revises full-year 2008 non-GAAP earnings per diluted share from continuing operations guidance to be between $2.80 and $2.90, versus the consensus of $3.07.
Hansen Medical, Inc. (NASDAQ: HNSN) 8% LOWER; sees Q4 sales of $7.1-$7.4 million, versus the consensus of $12.15million.
JetBlue Airways (Nasdaq: JBLU) 7% LOWER; Merrill downgrades
Strayer Education, Inc. (Nasdaq: STRA) 7% HIGHER; Strong results from Apollo Group
Alcatel-Lucent (NYSE: ALU) 6% LOWER; Downgraded at Morgan Stanley
DeVry Inc. (NYSE: DV) 6% HIGHER; Strong results from Apollo Group
Career Education Corp. (Nasdaq: CECO) 6% HIGHER; Strong results from Apollo Group
YRC Worldwide, Inc. (NASDAQ: YRCW) 6% HIGHER; Announces Teamsters Vote to Modify Current Labor Agreements; Includes 10% Reduction in All Wages Paid
Integra LifeSciences (Nasdaq: IART) 6% LOWER; said total revenues for the year ended December 31, 2008 are expected to be between $654 million and $655 million or approximately one percent below the Company's prior guidance of $657 million-$665 million. The consensus is $660.8 million.
Patriot Coal Corporation (NYSE: PCX) 5% LOWER; Citi starts at Sell
Healthways (Nasdaq: HWAY) 5% HIGHER; reports Q3 EPS of $0.37, 1 cent better than the analyst estimate of $0.36. Revenue for the quarter was $185.4 million, versus the consensus of $179.54 million.
Airgas, Inc. (NYSE: ARG) 4% LOWER; lowers its Q3 EPS guidance from $0.82-$0.84 to $0.74-$0.76, versus the consensus of $0.79.
ScanSource, Inc. (NASDAQ: SCSC) 3.8% LOWER; said sales results are expected to be in a range of $474 million to $480 million for the quarter ended December 31, 2008, which compares to the consensus of $521.8 million.
ICON (NASDAQ: ICLR) 3.6% HIGHER; 2009 net revenue is expected to be in the range of $930 - $980 million, a reduction on previous guidance due to currency factors. The consensus is $1.03 billion. 2009 net income per diluted share is expected to be in the range of $1.40 - $1.52, an increase on previous guidance. The consensus is $1.55.
Best Buy Co., Inc. (NYSE: BBY) 3% LOWER; reports sales rose 4% to $7.5 billion in December, with same store sales down 6.5% during the month. Best Buy narrows its FY09 EPS guidance from $2.30-$2.90 to $2.50-$2.70, which compares to the Street estimate of $2.61.
Blockbuster Inc. (NYSE: BBI) 1.3% HIGHER; Roth Capital upgrades to Buy
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