Morning Movers 8/26: VG, GSAT, HGSI, MYGN Higher; CCUR, CASM, ISLE, BPI Lower
Vonage (NYSE: VG) 51.8% HIGHER; shares jumped 30% on Monday and 165% yesterday as the company announced that it has plans to enter the mobile application market. Volume has been extremely heavy in the stock this week.
Concurrent (Nasdaq: CCUR) 24.6% LOWER; reported Q4 EPS of $0.03, versus the analyst estimate of $0.15 and compared to a loss of $0.12 in the same quarter last year. Revenue for the quarter was $15.9 million, versus the consensus of $18.75 million. (only 1 analyst covers the stock)
Globalstar Inc. (Nasdaq: GSAT) 19% HIGHER; SPOT LLC, a subsidiary of Globalstar today announced that its award-winning SPOT Satellite GPS Messenger(tm) will be available in Best Buy Co. retail locations nationwide.
CAS Medical Systems (Nasdaq: CASM) 17.6% LOWER; correcting today following yesterday's 83% rise on FDA clearance news.
Human Genome Sciences (Nasdaq: HGSI) 15.4% HIGHER; continuing higher following yesterday's 12% rise on reports that GSK may be ready with a $30/share bid for the company. The stock had its price target raised from $18 to $31 earlier at Thomas Weisel.
Myriad Genetics Inc. (Nasdaq: MYGN) 13.5% HIGHER; reports Q4 EPS of $0.37, versus the analyst estimate of $0.22. Revenue for the quarter was $86.1 million, versus the consensus of $86.72 million. The stock was upgraded to Buy at Canaccord Adams and had its price target raised at Benchmark.
Williams-Sonoma, Inc. (NYSE: WSM) 13% HIGHER; reports Q2 EPS of $0.05, ex-items, versus the analyst estimate of ($0.09). Revenue for the quarter was $672 million, versus the consensus of $658.26 million. Same store sales fell 11% during the quarter. Sees Q3 sales of $660-$700 million, versus the consensus of $667.85 million. Sees Q4 sales of $900-$960 million. Raises its FY09 sales guidance from $2.81-$2.93 billion to $2.84-$2.94 billion.
Cerus Corp. (Nasdaq: CERS) 12.8% HIGHER; not hearing any company-specific news yet, but volume is sharply higher than normal.
Isle of Capri Casinos (Nasdaq: ISLE) 11.3% LOWER; reports Q1 EPS from continuing operations of $0.02, versus the analyst estimate of $0.13. Revenue for the quarter was $259.9 million, versus the consensus of $273.44 million.
Bridgepoint Education (NYSE: BPI) 9.4% LOWER; today announced that it has filed a registration statement on Form S-1 with the Securities and Exchange Commission for a proposed public offering of up to 11,000,000 shares of its common stock.
Brown Shoe Company, Inc. (NYSE: BWS) 8.6% LOWER; reports a Q2 loss of $0.10 vs. consensus for a loss of $0.07. Revenues were $511.6 million vs. $539.27 million consensus. (Net loss attributable to Brown was $4.2 million, or $0.10 per diluted share, inclusive of charges related to its information technology initiatives of $1.3 million, or $0.03 per diluted share) Sees FY Consolidated net sales in the range of $2.18 billion to $2.20 billion vs. consensus of $2.22B. Famous Footwear same-store sales are expected to decline in the low- to mid-single digit range in the back half of 2009.
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