Mornings Movers 7/22: ONXX, MEG, WSTL, OFG, MNI, ATHR Higher; PPDI, AMD, AAN, KEY, WFC, SLM Lower
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Onyx Pharmaceuticals, Inc. (Nasdaq: ONXX) 31.3% HIGHER; Bayer HealthCare Pharmaceuticals and Onyx Pharma today announced that their first cooperative group-sponsored randomized Phase 2 trial in advanced metastatic breast cancer met its primary endpoint of progression-free survival. The study evaluated Nexavar(R) (sorafenib) tablets in combination with the oral chemotherapeutic, capecitabine, in patients with locally advanced or metastatic HER-2 negative breast cancer. Click here to see the full report.
Media General, Inc. (NYSE: MEG) 29.8% HIGHER; reports Q2 EPS from continuing operations of $0.57, versus the analyst estimate of ($0.24). Revenue for the quarter was $163.83 million, versus the consensus of $168.13 million.
Westell Technologies Inc. (Nasdaq: WSTL) 21% HIGHER; reports Q1 EPS of $0.04, 9 cents better than the analyst estimate of ($0.05). Revenue for the quarter was $40.5 million, versus the consensus of $42.65 million.
Oriental Financial Group (NYSE: OFG) 18.3% HIGHER; reports Q2 EPS of $2.04, versus the analyst estimate of $0.64.
Pharmaceutical Product Development (Nasdaq: PPDI) 15.2% LOWER; reports Q2 EPS from continuing operations of $0.33, 4 cents better than the analyst estimate of $0.29. Revenue for the quarter was $355.2 million, versus the consensus of $334.38 million.
McClatchy (NYSE: MNI) 14.9% HIGHER; continuing higher today following Q2 results and comments by the CFO yesterday. The stock jumped nearly 40% yesterday on the news.
Advanced Micro Devices (NYSE: AMD) 11.8% LOWER; reports Q2 loss of $0.49, (including a $0.13 favorable impact), or a loss of $0.62, versus the analyst estimate of ($0.47). Revenue for the quarter was $1.184 billion, versus the consensus of $1.13 billion.
Atheros Communications, Inc. (Nasdaq: ATHR) 11.1% HIGHER; reports Q2 non-GAAP EPS of $0.20, 6 cents better than the analyst estimate of $0.14. Revenue for the quarter was $112.2 million, versus the consensus of $103.74 million.
Aaron's Inc. (NYSE: AAN) 11% LOWER; reports Q2 EPS of $0.51, 3 cents better than the analyst estimate of $0.48. Revenue for the quarter was $417.3 million, versus the consensus of $437.86 million. Q3 revenues (excluding revenues of franchisees) of approximately $420 million. (Consensus is $435.49M) Q3 EPS in the range of $.39 to $.44 per share, assuming no significant store or other asset sales. (Consensus is $0.44) Sees FY09 sales of about $1.75 billion, versus the consensus of $1.8 billion. Narrows its FY09 EPS guidance from $1.90-$2.05 to $1.95-$2.05, versus the Street estimate of $2.00.
Charlotte Russe (Nasdaq: CHIC) 9.6% HIGHER; reports Q3 EPS of $0.33 (ex-items), 9 cents better than the analyst estimate of $0.24. Revenue for the quarter was $202.7 million, versus the consensus of $207.61 million. Comparable store sales for Q3 decreased 3.6%. For Q4, the Company expects comparable store sales to be in the negative low- to mid-single digits. For Q4, non-GAAP diluted earnings per share are expected to be in the range of $0.18 to $0.26, exclusive of anticipated charges related to management transition and severance, as well as the review of strategic alternatives and subsequent sale process. (Consensus is $0.16)
Airtran Holdings (NYSE: AAI) 9% HIGHER; reports Q2 EPS of $0.34, 2 cents better than the analyst estimate of $0.32. Revenue for the quarter was $603.65 million, versus the consensus of $601.11 million.
ClickSoftware (Nasdaq: CKSW) 8.8% HIGHER; reports Q2 EPS of $0.09, 2 cents better than the analyst estimate of $0.07. Revenue for the quarter was $14.4 million, versus the consensus of $13.75 million.
Starbucks (Nasdaq: SBUX) 8.6% HIGHER; reports Q3 EPS of $0.24, 5 cents better than the analyst estimate of $0.19. Revenue for the quarter was $2.4 billion, versus the consensus of $2.38 billion. Comp sales down 5%, which is a sequential improvement from an 8% decline from Q2. Sees FY09 non-gaap EPS 74c to 75c versus consensus of 70 cents. Sees FY10 non-gaap EPS up 13% to 18%.
Pactiv (NYSE: PTV) 8.5% HIGHER; reports Q2 EPS of $0.73, versus the analyst estimate of $0.56. Revenue for the quarter was $901 million, versus the consensus of $841.06 million. Sees Q3 EPS of $0.47-$0.51, versus the consensus of $0.51. Raises its FY09 EPS guidance from $2.15-$2.25 to $2.37-$2.45, versus the consensus of $2.22. Sales for the year move from a decline of 10-12% to a decline of 6-7%.
Fulton Financial (Nasdaq: FULT) 8.1% HIGHER; reports Q2 EPS of $0.05, 3 cents better than the analyst estimate of $0.02.
KeyCorp (NYSE: KEY) 7.9% LOWER; reports Q2 loss of $0.69, versus the analyst estimate of ($0.41).
Wells Fargo & Company (NYSE: WFC) 7.3% LOWER; reports Q2 EPS of $0.57, versus the analyst estimate of $0.34. Revenue for the quarter was $22.51 billion, up 28% from last year and versus the consensus of $20.49 billion. Had $700 million credit reserve build. Q2 allowance for credit losses $23.5 billion.
SLM Corporation (NYSE: SLM) 6.4% LOWER; reports Q2 EPS of $0.31, compared to $0.27 in the same quarter last year and versus the analyst estimate of $0.06.
Morgan Stanley (NYSE: MS) 5.9% LOWER; reports Q2 loss of $1.37, including $1.32 negative adjustment from debt related credit spreads and $0.74 from repurchase of TARP capital, versus the analyst estimate of ($0.49). Revenue for the quarter was $5.4 billion, versus the consensus of $5.35 billion.
Winn-Dixie Stores, Inc. (NASDAQ: WINN) 4.4% HIGHER; sees FY09 sales of about $7.5 billion, with same store sales up 1.2% from the same quarter last year. Gross margin is expected to be about 28.5%. Sees FY10 same store sales up 1-2%, with gross margin expected to be slightly higher than FY09. LIFO charge for the year is expected to be approximately $10 million.
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Media General, Inc. (NYSE: MEG) 29.8% HIGHER; reports Q2 EPS from continuing operations of $0.57, versus the analyst estimate of ($0.24). Revenue for the quarter was $163.83 million, versus the consensus of $168.13 million.
Westell Technologies Inc. (Nasdaq: WSTL) 21% HIGHER; reports Q1 EPS of $0.04, 9 cents better than the analyst estimate of ($0.05). Revenue for the quarter was $40.5 million, versus the consensus of $42.65 million.
Oriental Financial Group (NYSE: OFG) 18.3% HIGHER; reports Q2 EPS of $2.04, versus the analyst estimate of $0.64.
Pharmaceutical Product Development (Nasdaq: PPDI) 15.2% LOWER; reports Q2 EPS from continuing operations of $0.33, 4 cents better than the analyst estimate of $0.29. Revenue for the quarter was $355.2 million, versus the consensus of $334.38 million.
McClatchy (NYSE: MNI) 14.9% HIGHER; continuing higher today following Q2 results and comments by the CFO yesterday. The stock jumped nearly 40% yesterday on the news.
Advanced Micro Devices (NYSE: AMD) 11.8% LOWER; reports Q2 loss of $0.49, (including a $0.13 favorable impact), or a loss of $0.62, versus the analyst estimate of ($0.47). Revenue for the quarter was $1.184 billion, versus the consensus of $1.13 billion.
Atheros Communications, Inc. (Nasdaq: ATHR) 11.1% HIGHER; reports Q2 non-GAAP EPS of $0.20, 6 cents better than the analyst estimate of $0.14. Revenue for the quarter was $112.2 million, versus the consensus of $103.74 million.
Aaron's Inc. (NYSE: AAN) 11% LOWER; reports Q2 EPS of $0.51, 3 cents better than the analyst estimate of $0.48. Revenue for the quarter was $417.3 million, versus the consensus of $437.86 million. Q3 revenues (excluding revenues of franchisees) of approximately $420 million. (Consensus is $435.49M) Q3 EPS in the range of $.39 to $.44 per share, assuming no significant store or other asset sales. (Consensus is $0.44) Sees FY09 sales of about $1.75 billion, versus the consensus of $1.8 billion. Narrows its FY09 EPS guidance from $1.90-$2.05 to $1.95-$2.05, versus the Street estimate of $2.00.
Charlotte Russe (Nasdaq: CHIC) 9.6% HIGHER; reports Q3 EPS of $0.33 (ex-items), 9 cents better than the analyst estimate of $0.24. Revenue for the quarter was $202.7 million, versus the consensus of $207.61 million. Comparable store sales for Q3 decreased 3.6%. For Q4, the Company expects comparable store sales to be in the negative low- to mid-single digits. For Q4, non-GAAP diluted earnings per share are expected to be in the range of $0.18 to $0.26, exclusive of anticipated charges related to management transition and severance, as well as the review of strategic alternatives and subsequent sale process. (Consensus is $0.16)
Airtran Holdings (NYSE: AAI) 9% HIGHER; reports Q2 EPS of $0.34, 2 cents better than the analyst estimate of $0.32. Revenue for the quarter was $603.65 million, versus the consensus of $601.11 million.
ClickSoftware (Nasdaq: CKSW) 8.8% HIGHER; reports Q2 EPS of $0.09, 2 cents better than the analyst estimate of $0.07. Revenue for the quarter was $14.4 million, versus the consensus of $13.75 million.
Starbucks (Nasdaq: SBUX) 8.6% HIGHER; reports Q3 EPS of $0.24, 5 cents better than the analyst estimate of $0.19. Revenue for the quarter was $2.4 billion, versus the consensus of $2.38 billion. Comp sales down 5%, which is a sequential improvement from an 8% decline from Q2. Sees FY09 non-gaap EPS 74c to 75c versus consensus of 70 cents. Sees FY10 non-gaap EPS up 13% to 18%.
Pactiv (NYSE: PTV) 8.5% HIGHER; reports Q2 EPS of $0.73, versus the analyst estimate of $0.56. Revenue for the quarter was $901 million, versus the consensus of $841.06 million. Sees Q3 EPS of $0.47-$0.51, versus the consensus of $0.51. Raises its FY09 EPS guidance from $2.15-$2.25 to $2.37-$2.45, versus the consensus of $2.22. Sales for the year move from a decline of 10-12% to a decline of 6-7%.
Fulton Financial (Nasdaq: FULT) 8.1% HIGHER; reports Q2 EPS of $0.05, 3 cents better than the analyst estimate of $0.02.
KeyCorp (NYSE: KEY) 7.9% LOWER; reports Q2 loss of $0.69, versus the analyst estimate of ($0.41).
Wells Fargo & Company (NYSE: WFC) 7.3% LOWER; reports Q2 EPS of $0.57, versus the analyst estimate of $0.34. Revenue for the quarter was $22.51 billion, up 28% from last year and versus the consensus of $20.49 billion. Had $700 million credit reserve build. Q2 allowance for credit losses $23.5 billion.
SLM Corporation (NYSE: SLM) 6.4% LOWER; reports Q2 EPS of $0.31, compared to $0.27 in the same quarter last year and versus the analyst estimate of $0.06.
Morgan Stanley (NYSE: MS) 5.9% LOWER; reports Q2 loss of $1.37, including $1.32 negative adjustment from debt related credit spreads and $0.74 from repurchase of TARP capital, versus the analyst estimate of ($0.49). Revenue for the quarter was $5.4 billion, versus the consensus of $5.35 billion.
Winn-Dixie Stores, Inc. (NASDAQ: WINN) 4.4% HIGHER; sees FY09 sales of about $7.5 billion, with same store sales up 1.2% from the same quarter last year. Gross margin is expected to be about 28.5%. Sees FY10 same store sales up 1-2%, with gross margin expected to be slightly higher than FY09. LIFO charge for the year is expected to be approximately $10 million.
To get this report daily, visit http://www.streetinsider.com/entities/Morning+Movers.
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