Pre-Open Movers: CollaGenex (CGPI) Up on Buyout; Healthways (HWAY) Sinks On Lower Guidance
Up)
StreetInsider.com Pre-Open Movers:
Prana Biotechnology Limited (NASDAQ: PRAN) 50% HIGHER; announced successful results from the Phase IIa clinical trial of PBT2 in Early Alzheimer's disease. PBT2 has demonstrated safety and tolerability and reduced Abeta 42, in a Phase IIa study of PBT2 in patients with early Alzheimer's Disease. PBT2 also improved Executive Function performance in select cognitive tests.
CollaGenex Pharmaceuticals, Inc. (Nasdaq: CGPI) 28% HIGHER; Galderma Pharma S.A. and CollaGenex announced a definitive agreement pursuant to which Galderma's U.S. holding company, Galderma Laboratories, Inc., will acquire all of the outstanding shares of CollaGenex at a price of $16.60 per share in cash, representing approximately $420 million for the equity of CollaGenex.
Healthways, Inc. (NASDAQ: HWAY) 25% LOWER; Announced a revision to its guidance for the fiscal year ending August 31, 2008. The Company's guidance for revenues for fiscal 2008 is in a range of $720 million to $740 million, an increase of 17% to 20% from fiscal 2007, as compared to its previous guidance in a range of $782 million to $815 million. The Company's guidance for earnings per diluted share for fiscal 2008 is in a range of $1.50 to $1.55, an increase of 23% to 27% from fiscal 2007, as compared with its previous guidance in a range of $1.77 to $1.86.
K-Swiss Inc. (Nasdaq: KSWS) 22% LOWER; reports Q4 EPS of $0.02, 2 cents lower than the analyst estimate of $0.04. Revenues for the quarter were $78.17 million, versus the consensus of $79.73 million. Sees Q1 revs in the range of $95-$105 million and EPS between $0.18 and $0.28. The Street estimates for Q1 are $107.90 million and $0.33, respectively. For the FY08, K-Swiss expects to report revs of $310-$340 million and EPS in the range of $0.10-$0.35. The Street is expecting $407.28 million and $0.97, respectively.
Ceradyne Inc. (Nasdaq: CRDN) 22% LOWER; reports Q4 EPS of $1.28, 2 cents worse than the analyst estimate of $1.30. Revenues for the quarter were $191.4 million, versus the consensus of $186.04 million. Ceradyne lowers its FY08 guidance. The Company revised its revenues number from $780 million - $1.067 billion to $715-$836 million, versus the Street consensus of $831.48 million. EPS are down from $5.60-$6.65 to $4.55-$5.05, versus $5.67.
USEC Inc. (NYSE: USU) 19% LOWER; reports Q4 EPS of $0.13, 4 cents better than the analyst estimate of $0.09. Revenues for the quarter were $617.2 million, versus the consensus of $616.09 million.
Sees FY08 revs in the range of $1.7-$1.78 billion, versus the consensus of $1.79 billion.
Astec Industries (Nasdaq: ASTE) 16% HIGHER; reports Q4 earnings of $0.50 per share, above the consensus of $0.41. Revenues came in at $221 million, versus the consensus of $200.9 million. Sees FY08 EPS of $2.80-$2.95 versus the consensus of $2.77. Sees FY08 revenues of $1 billion, versus the consensus of $930.05 million.
China TechFaith Wireless Com Tech (Nasdaq: CNTF) 13% HIGHER; reports Q4 EPS of $0.07, 3 cents better than the analyst estimate of $0.04. Revenues for the quarter were $45.7 million, versus the consensus of $43.30 million. CNTF sees Q1 revenue guidance $48-$49 million versus the consensus of $43 million.
Movado Group (NYSE: MOV) 10% LOWER; announces restrucuting, lowers guidance
National Medical Health Card Systems, Inc. (NASDAQ: NMHC) 9.6% HIGHER; SXC Health Solutions Corp. (NASDAQ: SXCI) and National Medical Health Card Systems entered into a definitive agreement for SXC to acquire NMHC pursuant to an exchange offer. The purchase price will be funded with a combination of 70% cash and 30% SXC stock, resulting in a transaction value of approximately $143 million, or an estimated $11.00 per share of NMHC using the 20-day average closing price of SXC stock to value the share portion of the consideration.
Foster Wheeler (Nasdaq: FWLT) 9% LOWER; reports Q4 earnings of $0.56 per share, ex-items, below the consensus of $0.76. Revenues came in at $1.47 billion, versus the consensus of $1.42 billion. Foster Wheeler maintains very positive market view.
RadioShack (NYSE: RSH) 8% HIGHER; reports Q4 earnings of $0.77 per share, above the consensus of $0.72. Revenues came in at $1.36 billion, versus the consensus of $1.33 billion.
Shanda Interactive Entertainment Ltd. (Nasdaq: SNDA) 5% HIGHER; reports Q4 EPS of $0.54, above the consensus of $0.45. Revenues came in at $97.8 million, versus the consensus of $93.5 million.
Rite Aid (NYSE: RAD) 5% HIGHER; J.P. Morgan upgrades Rite Aid from Neutral to Overweight.
Google (Nasdaq: GOOG) 3.5% LOWER; Negative broker comments following ComScore paid search data.
LDK Solar Co., Ltd. (NYSE: LDK) 2.4% HIGHER; reports Q4 EPS of $0.44, 3 cents better than the analyst estimate of $0.41. Revenues for the quarter were $192.8 million, versus the consensus of $183.10 million. Sees Q1 EPS of $0.41-$0.45, versus the consensus of $0.40. Q1 revs of $210-$220 million, versus the Street estimate of $219.7 million. Reaffirms its forecast for FY08.
Macy's, Inc. (NYSE: M) 2% HIGHER; reports Q4 adj-EPS of $1.65, versus the consensus of $1.60. Revenues came in at $8.59 billion, versus the consensus of $8.62 billion. Sees FY adj-EPS of $1.85-$2.15, versus the consensus of $2.03
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Prana Biotechnology Limited (NASDAQ: PRAN) 50% HIGHER; announced successful results from the Phase IIa clinical trial of PBT2 in Early Alzheimer's disease. PBT2 has demonstrated safety and tolerability and reduced Abeta 42, in a Phase IIa study of PBT2 in patients with early Alzheimer's Disease. PBT2 also improved Executive Function performance in select cognitive tests.
CollaGenex Pharmaceuticals, Inc. (Nasdaq: CGPI) 28% HIGHER; Galderma Pharma S.A. and CollaGenex announced a definitive agreement pursuant to which Galderma's U.S. holding company, Galderma Laboratories, Inc., will acquire all of the outstanding shares of CollaGenex at a price of $16.60 per share in cash, representing approximately $420 million for the equity of CollaGenex.
Healthways, Inc. (NASDAQ: HWAY) 25% LOWER; Announced a revision to its guidance for the fiscal year ending August 31, 2008. The Company's guidance for revenues for fiscal 2008 is in a range of $720 million to $740 million, an increase of 17% to 20% from fiscal 2007, as compared to its previous guidance in a range of $782 million to $815 million. The Company's guidance for earnings per diluted share for fiscal 2008 is in a range of $1.50 to $1.55, an increase of 23% to 27% from fiscal 2007, as compared with its previous guidance in a range of $1.77 to $1.86.
K-Swiss Inc. (Nasdaq: KSWS) 22% LOWER; reports Q4 EPS of $0.02, 2 cents lower than the analyst estimate of $0.04. Revenues for the quarter were $78.17 million, versus the consensus of $79.73 million. Sees Q1 revs in the range of $95-$105 million and EPS between $0.18 and $0.28. The Street estimates for Q1 are $107.90 million and $0.33, respectively. For the FY08, K-Swiss expects to report revs of $310-$340 million and EPS in the range of $0.10-$0.35. The Street is expecting $407.28 million and $0.97, respectively.
Ceradyne Inc. (Nasdaq: CRDN) 22% LOWER; reports Q4 EPS of $1.28, 2 cents worse than the analyst estimate of $1.30. Revenues for the quarter were $191.4 million, versus the consensus of $186.04 million. Ceradyne lowers its FY08 guidance. The Company revised its revenues number from $780 million - $1.067 billion to $715-$836 million, versus the Street consensus of $831.48 million. EPS are down from $5.60-$6.65 to $4.55-$5.05, versus $5.67.
USEC Inc. (NYSE: USU) 19% LOWER; reports Q4 EPS of $0.13, 4 cents better than the analyst estimate of $0.09. Revenues for the quarter were $617.2 million, versus the consensus of $616.09 million.
Sees FY08 revs in the range of $1.7-$1.78 billion, versus the consensus of $1.79 billion.
Astec Industries (Nasdaq: ASTE) 16% HIGHER; reports Q4 earnings of $0.50 per share, above the consensus of $0.41. Revenues came in at $221 million, versus the consensus of $200.9 million. Sees FY08 EPS of $2.80-$2.95 versus the consensus of $2.77. Sees FY08 revenues of $1 billion, versus the consensus of $930.05 million.
China TechFaith Wireless Com Tech (Nasdaq: CNTF) 13% HIGHER; reports Q4 EPS of $0.07, 3 cents better than the analyst estimate of $0.04. Revenues for the quarter were $45.7 million, versus the consensus of $43.30 million. CNTF sees Q1 revenue guidance $48-$49 million versus the consensus of $43 million.
Movado Group (NYSE: MOV) 10% LOWER; announces restrucuting, lowers guidance
National Medical Health Card Systems, Inc. (NASDAQ: NMHC) 9.6% HIGHER; SXC Health Solutions Corp. (NASDAQ: SXCI) and National Medical Health Card Systems entered into a definitive agreement for SXC to acquire NMHC pursuant to an exchange offer. The purchase price will be funded with a combination of 70% cash and 30% SXC stock, resulting in a transaction value of approximately $143 million, or an estimated $11.00 per share of NMHC using the 20-day average closing price of SXC stock to value the share portion of the consideration.
Foster Wheeler (Nasdaq: FWLT) 9% LOWER; reports Q4 earnings of $0.56 per share, ex-items, below the consensus of $0.76. Revenues came in at $1.47 billion, versus the consensus of $1.42 billion. Foster Wheeler maintains very positive market view.
RadioShack (NYSE: RSH) 8% HIGHER; reports Q4 earnings of $0.77 per share, above the consensus of $0.72. Revenues came in at $1.36 billion, versus the consensus of $1.33 billion.
Shanda Interactive Entertainment Ltd. (Nasdaq: SNDA) 5% HIGHER; reports Q4 EPS of $0.54, above the consensus of $0.45. Revenues came in at $97.8 million, versus the consensus of $93.5 million.
Rite Aid (NYSE: RAD) 5% HIGHER; J.P. Morgan upgrades Rite Aid from Neutral to Overweight.
Google (Nasdaq: GOOG) 3.5% LOWER; Negative broker comments following ComScore paid search data.
LDK Solar Co., Ltd. (NYSE: LDK) 2.4% HIGHER; reports Q4 EPS of $0.44, 3 cents better than the analyst estimate of $0.41. Revenues for the quarter were $192.8 million, versus the consensus of $183.10 million. Sees Q1 EPS of $0.41-$0.45, versus the consensus of $0.40. Q1 revs of $210-$220 million, versus the Street estimate of $219.7 million. Reaffirms its forecast for FY08.
Macy's, Inc. (NYSE: M) 2% HIGHER; reports Q4 adj-EPS of $1.65, versus the consensus of $1.60. Revenues came in at $8.59 billion, versus the consensus of $8.62 billion. Sees FY adj-EPS of $1.85-$2.15, versus the consensus of $2.03
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