Morning Movers 2/13: Lloyds (LYG) Lower On Massive HBOS Loss, Coinstar (CSTR) Up On Results
StreetInsider.com Morning Movers:
Lloyds Banking Group plc (NYSE: LYG) 29% LOWER; Sees 10 billion-pound loss from HBOS plc unit
Savient Pharmaceuticals, Inc. (Nasdaq: SVNT) 25% LOWER; filed amendments to strengthen and clarify the data included in the previously submitted pegloticase Biologics License Application (BLA), which was granted priority review
Geron Corporation (Nasdaq: GERN) 16% LOWER; Prices 7.25M share offering at $6.60
Eagle Bulk Shipping, Inc. (Nasdaq: EGLE) 15% LOWER; Cantor Fitzgerald downgraded to Sell
Pinnacle Airlines Corp. (Nasdaq: PNCL) 15% LOWER; Lower after the Buffalo plane crash. The Continental plane that crashed was operated by Pinnacle's Colgan Air.
Coinstar, Inc. (Nasdaq: CSTR) 15% HIGHER; reports Q4 EPS of $0.15, 1 cent lower than the analyst estimate of $0.16. Revenue for the quarter was $261 million, versus the consensus of $258.88 million. See Q1 revs of $260-$270, versus the consensus of $247.6 million. For Fy09, revs are expected to be $1.2-$1.3 billion, versus the consensus of $1.09 billion.
Wyndham Worldwide Corporation (NYSE: WYN) 15% LOWER; reports Q4 EPS of $0.47, ex-items, 7 cents better than the analyst estimate of $0.40. Revenue for the quarter was $911 million, versus the consensus of $989.42 million. Sees Q1 EPS of $0.35-$0.40, versus the consensus of $0.31. For FY09, sales are expected to be $3.5-$3.9 billion, versus the Street estimate of $3.68 billion. Non-GAAP EPS for the year are expected to be in the range of $1.61-$1.85, versus the consensus of $1.69.
Abercrombie & Fitch (NYSE: ANF) 10% HIGHER; reports Q4 earnings of $1.10 per share, ex-items, above the consensus of $1.00. Revenues came in at $998 million, versus the consensus of $997.7 million. Abercrombie & Fitch not giving guidance for fiscal 2009.
Cheesecake Factory (Nasdaq: CAKE) 9% reports Q4 EPS of $0.15, 1 cent better than the analyst estimate of $0.14. Revenue for the quarter was $400.4 million, versus the consensus of $403.45 million. Downgraded to Sell at Piper Jaffray to Sell citing another all time low its restaurant-level margin.
Rackable Systems, Inc. (NASDAQ: RACK) 9% HIGHER; Rackable Systems, Inc. (Nasdaq: RACK) reports Q4 loss of $0.19, versus the analyst estimate of ($0.15). Revenue for the quarter was $38.8 million, versus the consensus of $46.63 million. Cutting workforce by 15%. announced today that its Board of Directors has authorized the company to institute a stock repurchase program providing for the repurchase of up to $40 million of the company’s stock.
Sunstone Hotel Investors Inc. (NYSE: SHO) 9% HIGHER; reports Q4 adj-FFO of $0.76, versus the analyst estimate of $0.60. Revenue for the quarter was $256 million, versus the consensus of $251.33 million. Suspends quarterly dividend.
Sigma Designs Inc. (NASDAQ: SIGM) 7% HIGHER; Baird upgrades to Outperform
InterMune Inc. (NASDAQ: ITMN) 7% LOWER; Pricing of Public Offering of 3,500,000 Shares of Common Stock
JA Solar Holdings Co., Ltd. (Nasdaq: JASO) 6.7% HIGHER; today announced that it has signed a supply contract with BP Solar International, Inc., pursuant to the broader strategic cooperation agreement signed with BP Alternative Energy Holdings Limited, announced last November. Under this new agreement, JA Solar will supply monocrystalline and multicrystalline solar cells to BP Solar in 2009, with an initial volume of 175 MW and with the potential to expand to 360 MW. JA Solar is already delivering product under its existing supply agreement with BP.
Sun Microsystems Inc. (Nasdaq: JAVA) 6% LOWER; Goldman adds to Sell List
Life Partners Holdings Inc. (Nasdaq: LPHI) 6% LOWER; Cramer negative on the stock
ValueClick, Inc. (Nasdaq: VCLK) 5% HIGHER; reports Q4 EPS of $0.23, 8 cents better than the analyst estimate of $0.15. Revenue for the quarter was $151.1 million, versus the consensus of $142.31 million. Sees Q1 revs $126M to $132M versus $132.6 million. Sees Q1 EPS 17c to 18c versus 13 cents.
Wells Fargo & Company (NYSE: WFC) 5% LOWER; said it will record other-than-temporary impairment and take a non-cash charge to earnings of $328.4 million (pre-tax) in fourth quarter. Wells Fargo expects this charge will reduce full-year 2008 net income to $2,655 million, or $0.70 per common share, from $2,842 million, or $0.75 per share, as previously reported. For fourth quarter 2008, the Company expects the charge to increase its previously reported net loss to $(2,734) million, or $(0.84) per share, from $(2,547) million, or $(0.79) per share.
Research In Motion Ltd. (Nasdaq: RIMM) 3.6% LOWER; Credit Suisse downgraded Research In Motion Ltd. (Nasdaq: RIMM) from Neutral to Underperform. The firm is the top-rated analyst covering the stock, according to Bloomberg data, so the rating change may carry some weight. The firm sees overall slower smartphone sales and gross margin risks.
ASML Holding NV (Nasdaq: ASML) 3.6% HIGHER; Deutsche Bank upgrades
Amkor Technology, Inc. (Nasdaq: AMKR) 2% LOWER; reports Q4 loss of $3.40, which does not compare to the analyst estimate of $0.00. Revenue for the quarter was $549 million, versus the consensus of $545.85 million.
Cognizant Technology (Nasdaq: CTSH) 2% HIGHER; reports Q4 EPS of $0.41, ex-items, 3 cents better than the analyst estimate of $0.38. Revenue for the quarter was $753 million, versus the consensus of $743.06 million. Sees Q1 sales of at least $735 million, versus the consensus of $745.55 million, with EPS of $0.41-$0.42, versus the consensus of $0.38. FY09 sales are expected to be at least $3.1 billion, versus the Street estimate of $2.81 billion, with non-GAAP EPS of at least $1.72, versus the consensus of $1.45.
Palm, Inc. (Nasdaq: PALM) 1.5% HIGHER; Credit Suisse starts at Outperform
PepsiCo (NYSE: PEP) 1.5% HIGHER; reports Q4 earnings of $0.88 per share, ex-items, in-line with the consensus. Revenues came in at $12.73 billion, versus the consensus of $12.8 billion.
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