Pre-Open Movers 5/13: Canadian Solar (CSIQ) Jumps On Strong Results; Pilgrims Pride (PPC) Lower on Offering

May 13, 2008 9:23 AM EDT

StreetInsider.com Pre-Open Movers:

Iomai Corporation (Nasdaq: IOMI) 114% HIGHER; Intercell AG and Iomai entered into a definitive agreement pursuant to which Intercell will acquire Iomai for USD 6.60 per share representing a fully diluted equity value of approximately USD 189 million

Canadian Solar (Nasdaq: CSIQ) 22% HIGHER; reports Q1 earnings of $0.61 per share, 30 cents better than the consensus of $0.31. Revenues came in at $171.2 million, versus the consensus of $151.9 million. Sees Q2 revenues of $185-$190 million, versus the consensus of $167.62 million.

Fuel Systems Solutions, Inc. (Nasdaq: FSYS) 16% HIGHER; reports Q1 EPS of $0.40, 22 cents better than estimates. Revenues were $94.6 million vs. $74.81 million consensus. Based on its current assessment of near-term market trends, the company is increasing its full year 2008 consolidated revenue guidance to $320 million and maintaining its gross profit margin of approximately 24 percent and operating margin of approximately nine percent. (FY08 revenue consensus is $304.83 million)

Kenexa (Nasdaq: KNXA) 10.8% HIGHER; reports Q1 non-GAAP EPS of $0.31 and GAAP EPS of $0.21, versus the analyst estimate of $0.23. Revenues for the quarter were $48.2 million, versus the consensus of $48.82 million. Sees Q2 EPS of $0.34-$0.35, versus consensus of $0.34. FY08 EPS of $1.47-$1.50, versus $1.39.

Fluor Corporation (NYSE: FLR) 9% HIGHER; reports Q1 EPS of $1.50, 23 cents better than the analyst estimate of $1.27. Revenues for the quarter were $4.8 billion, versus the consensus of $4.64 billion. Raises FY08 EPS guidance to $6.25-$6.55, versus the consensus of $5.63.

BearingPoint, Inc. (NYSE: BE) 7.5% HIGHER; reports a Q1 loss of $0.10, 3 cents better than the analyst estimate of ($0.13). Revenues for the quarter were $830 million, versus the consensus of $853.21 million.

Pilgrims Pride Corporation (NYSE: PPC) 7% LOWER; agreed to an underwritten offering, subject to standard closing conditions, with Lehman Brothers Inc., as sole underwriter, for the sale of 7,500,000 shares of its common stock for total consideration to Pilgrim's Pride of approximately $180 million.

LDK Solar Co., Ltd. (NYSE: LDK) 6.6% LOWER; reports Q1 EPS of $0.45, 6 cents better than the analyst estimate of $0.39. Revenues for the quarter were $233.4 million, versus the consensus of $217.29 million. Sees Q2 revenue $278-$288 million versus $251 million consensus. FY08 $1.08-$1.18 versus $1.08 billion consensus.

CKX, Inc. (NASDAQ: CKXE) 6% HIGHER; announced today that 19X, Inc. had delivered a letter to the CKX board of directors setting forth certain proposed revisions to the pending agreement to acquire CKX. Citing material changes in the market for media companies and buyout transactions in general, 19X has proposed a new purchase price of $12.00 per share and has requested an extension of the outside deadline for closing the transaction to September 30, 2008.

Foster Wheeler, Ltd. (NASDAQ: FWLT) 5% HIGHER; Strong results from Flour

Bally Technologies Inc. (NYSE: BYI) 5% HIGHER; reports Q1 EPS of $0.56, 8 cents better than the analyst estimate of $0.48. Revenues for the quarter were $233 million, versus the consensus of $231.03 million.

Nuance Communications, Inc. (Nasdaq: NUAN) 5% LOWER; reports Q2 EPS of $0.18, in-line with the analyst estimate of $0.18. Revenues for the quarter were $203.3 million, versus the consensus of $214.34 million. On track to exceed FY08 revenue view.

Warnaco Group (Nasdaq: WRNC) 4% HIGHER; reports Q1 EPS of $0.99, ex-items, 20 cents better than the analyst estimate of $0.79. Revenues for the quarter were $574.9 million, versus the consensus of $507.13 million.

Medarex Inc. (Nasdaq: MEDX) 3.8% HIGHER; Needham upgrades to Buy

Nordic American Tanker Shipping (NYSE: NAT) 3.6% LOWER; announced that it has commenced an offering of 4,000,000 common shares

Colfax Corporation (NYSE: CFX) 3.2% HIGHER; Cramer highlights on Mad Money

LHC Group, Inc. (Nasdaq: LHCG) 2% LOWER; Wachovia Downgrades LHC Group (LHCG) to Market Perform

HP (NYSE: HPQ) 1.8% LOWER; HP confirmed a deal to buy EDS for $25/share.

Wal-Mart (NYSE: WMT) 1.6% LOWER; reports Q1 earnings of $0.76 per share, above the consensus of $0.75. Revenues came in at $94.12 billion, versus the consensus of $93.47 billion. Sees Q2 EPS of $0.78-0.81 versus the consensus of $0.81. Sees Q2 comparable store sales up 2% to unchanged.

EDS (NYSE: EDS) 1.4% HIGHER; HP confirmed a deal to buy EDS for $25/share.

USANA (Nasdaq: USNA) INDICATED HIGHER; Gull Holdings intends to make an offer to acquire USANA for $26 per share. Gull Holdings is controlled by Chairman/CEO Dr. Myron W. Wentz.

Get This Report E-Mailed To You Daily and Much, Much More With StreetInsider.com Premium - FREE TRIAL

Related Categories

Special Reports

Stocks Mentioned

Related Entities

• Lehman Brothers
• Wachovia
• Needham & Co

Add Your Comment

Name

Subject

Body

Verification can't see the text?
click here to refresh the image.
what's this?