Morning Movers 8/30: ADAM, COGT, CRNT, FOSL, CSGS, GENZ Higher; DGIT, LULU, PAR, INTC Lower
Morning Movers:
ADAM Inc. (Nasdaq: ADAM) 78.2% HIGHER after announcing a deal to be acquired by Ebix, Inc. (Nasdaq: EBIX) for $66 million.
DG FastChannel (Nasdaq: DGIT) 34.1% LOWER after saying it expects revenues for the quarter of $51-53 million, versus the consensus of $61.5 million. The company sees EBITDA of $23-24 million. For the full year the Company is comfortable with revenues of approximately $230 to $234 million, which is below the consensus of $246.2 million. The company sees EBITDA for the full year of of approximately $105 to $107 million.
Cogent Inc. (Nasdaq: COGT) 19.6% HIGHER after announcing an agreement to be acquired by 3M Co. (NYSE: MMM) in a deal worth $10.50 per share.
Ceragon Networks Ltd. (Nasdaq: CRNT) 7.9% HIGHER after announcing a new orders for its advanced FibeAir platforms from a leading Indian operator.
Fossil, Inc. (Nasdaq: FOSL) 5.9% HIGHER after announcing a $750 million share repurchase program.
Lululemon Athletica Inc. (Nasdaq: LULU) 4.9% LOWER after Jefferies downgraded the stock to Underperform.
CSG Systems International Inc. (Nasdaq: CSGS) 3.8% HIGHER after being upgraded to Outperform at Oppenheimer.
Genzyme Corp. (Nasdaq: GENZ) 3.8% HIGHER after Sanofi-Aventis (NYSE: SNY) went public with its $69/share takeover bid, which Genzyme rejected.
3Par (NYSE: PAR) 2.22% LOWER after the company said HP's $30/share bid is the "superior offer". Dell has yet to counter and shares are still above the highest bid.
Intel Corporation (Nasdaq: INTC) 1.7% LOWER after buying the wireless business of Infineon Technologies AG for $1.4 billion in cash. The company was also downgraded at Lazard after Friday's sales warning.
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ADAM Inc. (Nasdaq: ADAM) 78.2% HIGHER after announcing a deal to be acquired by Ebix, Inc. (Nasdaq: EBIX) for $66 million.
DG FastChannel (Nasdaq: DGIT) 34.1% LOWER after saying it expects revenues for the quarter of $51-53 million, versus the consensus of $61.5 million. The company sees EBITDA of $23-24 million. For the full year the Company is comfortable with revenues of approximately $230 to $234 million, which is below the consensus of $246.2 million. The company sees EBITDA for the full year of of approximately $105 to $107 million.
Cogent Inc. (Nasdaq: COGT) 19.6% HIGHER after announcing an agreement to be acquired by 3M Co. (NYSE: MMM) in a deal worth $10.50 per share.
Ceragon Networks Ltd. (Nasdaq: CRNT) 7.9% HIGHER after announcing a new orders for its advanced FibeAir platforms from a leading Indian operator.
Fossil, Inc. (Nasdaq: FOSL) 5.9% HIGHER after announcing a $750 million share repurchase program.
Lululemon Athletica Inc. (Nasdaq: LULU) 4.9% LOWER after Jefferies downgraded the stock to Underperform.
CSG Systems International Inc. (Nasdaq: CSGS) 3.8% HIGHER after being upgraded to Outperform at Oppenheimer.
Genzyme Corp. (Nasdaq: GENZ) 3.8% HIGHER after Sanofi-Aventis (NYSE: SNY) went public with its $69/share takeover bid, which Genzyme rejected.
3Par (NYSE: PAR) 2.22% LOWER after the company said HP's $30/share bid is the "superior offer". Dell has yet to counter and shares are still above the highest bid.
Intel Corporation (Nasdaq: INTC) 1.7% LOWER after buying the wireless business of Infineon Technologies AG for $1.4 billion in cash. The company was also downgraded at Lazard after Friday's sales warning.
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