Morning Movers 5/29: INFI, JCG, CLDX, ODP, ALTI Higher; JMBA, ESL, WTSLA, CTAS, MENT Lower
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Infinity Pharmaceuticals, Inc. (Nasdaq: INFI) 33.3% HIGHER; announced the recent publication of a new scientific paper further supporting Hedgehog signaling pathway inhibition as a promising new approach to treat cancer. Click here for the full report.
J. Crew Group, Inc. (NYSE: JCG) 18.1% HIGHER; reports Q1 EPS of $0.32, versus the analyst estimate of $0.11. Revenue for the quarter was $345.8 million, versus the consensus of $322.11 million. Same store sales fell 5% during the quarter. Sees Q2 EPS of $0.08-$0.12, versus the consensus of a loss of $0.02.
Jamba, Inc. (NASDAQ: JMBA) 16.7% LOWER; reports a Q1 loss of $0.19, 8 cents worse than estimates. Revenues were $88.9 million vs. $87.92 million consensus. (NOTE - only 1 analyst)
Celldex Therapeutics, Inc. (Nasdaq: CLDX) 14.3% HIGHER; today announced it has entered into a definitive agreement to acquire CuraGen Corporation (Nasdaq: CRGN). The acquisition will add a portfolio of oncology-focused, fully-owned antibodies to Celldex's Precision Targeted Immunotherapy Platform. Celldex will acquire CuraGen in a tax-free stock-for-stock transaction, which values CuraGen at approximately $94.5 million, subject to certain adjustments described within the definitive agreement. Click here to see the full report.
Office Depot (NYSE: ODP) 14.2% HIGHER; JP Morgan upgrades the stock from Neutral to Overweight. Click here for full color on the upgrade.
Esterline Technologies (NYSE: ESL) 12.5% LOWER; reports Q2 EPS of $0.85, versus the analyst estimate of $0.96. Revenue for the quarter was $359.5 million, versus the consensus of $371.05 million. Sees FY09 EPS of $3.00-$3.20, versus the consensu sof $3.66.
Altair Nanotechnologies Inc. (NASDAQ: ALTI) 10.8% HIGHER; announced a $3.8 million contract award from the Office of Naval Research. This award is for the continued research and design of Altairnano's large-scale nano lithium titanate energy-storage systems for possible use as an uninterruptible power supply on Navy ships.
Omnivision Technologies (Nasdaq: OVTI) 10.5% HIGHER; reports Q4 non-GAAP loss of $0.30, 3 cents better than the analyst estimate of ($0.33). Revenue for the quarter was $89.1 million, versus the consensus of $68.24 million. Sees Q1 sales of $90-$100 million, versus the consensus of $74.37 million. Loss for the quarter is expected to be in the range of $0.07-$0.16, which compares to the Street estimate of a loss of $0.23.
Wet Seal (Nasdaq: WTSLA) 10.1% LOWER; reports Q1 EPS of $0.05, 1 cent better than the analyst estimate of $0.04. Revenue for the quarter was $132 million, versus the consensus of $133.8 million. Sees Q2 EPS 2c to 5c versus consensus of 8 cents.
Cintas Corporation (Nasdaq: CTAS) 7.4% LOWER; expects Q4 revenue to be between $870 million and $885 million and EPS of $0.34-$0.38, below the consensus of $923 million and $0.47. Click here for the full report.
Mentor Graphics Corporation (NASDAQ: MENT) 7.3% LOWER; reports Q1 EPS of $0.09, 2 cents better than the analyst estimate of $0.07. Revenue for the quarter was $193.8 million, versus the consensus of $201.75 million. Sees Q2 sales of $165 million, versus the consensus of $190.85 million. Sees a non-GAAP loss of about $0.10, versus the Street estimate of a $0.03 profit.
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J. Crew Group, Inc. (NYSE: JCG) 18.1% HIGHER; reports Q1 EPS of $0.32, versus the analyst estimate of $0.11. Revenue for the quarter was $345.8 million, versus the consensus of $322.11 million. Same store sales fell 5% during the quarter. Sees Q2 EPS of $0.08-$0.12, versus the consensus of a loss of $0.02.
Jamba, Inc. (NASDAQ: JMBA) 16.7% LOWER; reports a Q1 loss of $0.19, 8 cents worse than estimates. Revenues were $88.9 million vs. $87.92 million consensus. (NOTE - only 1 analyst)
Celldex Therapeutics, Inc. (Nasdaq: CLDX) 14.3% HIGHER; today announced it has entered into a definitive agreement to acquire CuraGen Corporation (Nasdaq: CRGN). The acquisition will add a portfolio of oncology-focused, fully-owned antibodies to Celldex's Precision Targeted Immunotherapy Platform. Celldex will acquire CuraGen in a tax-free stock-for-stock transaction, which values CuraGen at approximately $94.5 million, subject to certain adjustments described within the definitive agreement. Click here to see the full report.
Office Depot (NYSE: ODP) 14.2% HIGHER; JP Morgan upgrades the stock from Neutral to Overweight. Click here for full color on the upgrade.
Esterline Technologies (NYSE: ESL) 12.5% LOWER; reports Q2 EPS of $0.85, versus the analyst estimate of $0.96. Revenue for the quarter was $359.5 million, versus the consensus of $371.05 million. Sees FY09 EPS of $3.00-$3.20, versus the consensu sof $3.66.
Altair Nanotechnologies Inc. (NASDAQ: ALTI) 10.8% HIGHER; announced a $3.8 million contract award from the Office of Naval Research. This award is for the continued research and design of Altairnano's large-scale nano lithium titanate energy-storage systems for possible use as an uninterruptible power supply on Navy ships.
Omnivision Technologies (Nasdaq: OVTI) 10.5% HIGHER; reports Q4 non-GAAP loss of $0.30, 3 cents better than the analyst estimate of ($0.33). Revenue for the quarter was $89.1 million, versus the consensus of $68.24 million. Sees Q1 sales of $90-$100 million, versus the consensus of $74.37 million. Loss for the quarter is expected to be in the range of $0.07-$0.16, which compares to the Street estimate of a loss of $0.23.
Wet Seal (Nasdaq: WTSLA) 10.1% LOWER; reports Q1 EPS of $0.05, 1 cent better than the analyst estimate of $0.04. Revenue for the quarter was $132 million, versus the consensus of $133.8 million. Sees Q2 EPS 2c to 5c versus consensus of 8 cents.
Cintas Corporation (Nasdaq: CTAS) 7.4% LOWER; expects Q4 revenue to be between $870 million and $885 million and EPS of $0.34-$0.38, below the consensus of $923 million and $0.47. Click here for the full report.
Mentor Graphics Corporation (NASDAQ: MENT) 7.3% LOWER; reports Q1 EPS of $0.09, 2 cents better than the analyst estimate of $0.07. Revenue for the quarter was $193.8 million, versus the consensus of $201.75 million. Sees Q2 sales of $165 million, versus the consensus of $190.85 million. Sees a non-GAAP loss of about $0.10, versus the Street estimate of a $0.03 profit.
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