Pre-Open Movers 6/05: Tercica (TRCA) Surges On Buyout; Smithfield Foods (SFD) Lower on Results
StreetInsider.com Pre-Open Movers:
Tercica, Inc. (Nasdaq: TRCA) 100% HIGHER; announced that Tercica and Ipsen, S.A. have entered into a definitive merger agreement by which an affiliate of Ipsen would acquire all of the shares of Tercica common stock that Ipsen does not currently own at a price of $9.00 per share in cash, which values Tercica at approximately $663 million. Tercica closed at $4.41 per share yesterday.
Distributed Energy Systems Corp. (Nasdaq: DESC) 60% LOWER; File Voluntary Chapter 11 Petitions
Star Bulk Carriers Corp. (Nasdaq: SBLK) 5% HIGHER; reports Q1 EPS of $0.36, 15 cents better than the analyst estimate of $0.21. Revenues for the quarter were $42.5 million, versus the consensus of $28.19 million.
Smithfield Foods Inc. (NYSE: SFD) 5% LOWER; reports Q4 EPS of $0.01, below the consensus of $0.07. Revenues came in at $2.87 billion, versus the consensus of $3.55 billion.
Greif Brothers (NYSE: GEF) 4.2% HIGHER; reports Q2 EPS of $0.92, ex-items, 5 cents better than the analyst estimate of $0.87. Revenues for the quarter were $918 million, versus the consensus of $839.93 million. Raises FY08 EPS to $4.25-$4.45, versus the consensus of $4.05.
Northwest Airlines Corp. (NYSE: NWA) 4.7% HIGHER; Credit Suisse upgrades
NVIDIA Corporation (Nasdaq: NVDA) 4% HIGHER; Goldman upgrades
UAL Corporation (Nasdaq: UAUA) 4% HIGHER; Credit Suisse upgrades
Collective Brands Inc. (NYSE: PSS) 3.4% LOWER; reports Q1 EPS of $0.67, 6 cents better than the analyst estimate of $0.61. Revenues for the quarter were $932.4 million, versus the consensus of $935.92 million.
ADC Telecommunications Inc. (Nasdaq: ADCT) 3% HIGHER; reports Q2 EPS of $0.39, ex-items, 9 cents better than the analyst estimate of $0.30. Revenues for the quarter were $403 million, versus the consensus of $384.75 million. Sees Q3 revs same as Q2, versus the consensus of $395.7 million. Sees Q4 revs below Q3. Sees FY08 revs of $1.52-$1.54 billion, versus the Street estimate of $1.5 billion.
Nucor Corp. (NYSE: NUE) 2.9% HIGHER; now sees Q2 EPS of $1.75-$1.80, versus prior guidance of $1.55-$1.60 and the consensus of $1.69.
Wal-Mart Stores, Inc. (NYSE: WMT) 2% HIGHER; May Comparable Store Sales rise 3.9% (without fuel), +4% at Wal-Mart Stores and +3.6% at Sam's Club.
VeriSign Inc. (Nasdaq: VRSN) 1.5% LOWER; JP Morgan downgrades
Caterpillar Inc. (NYSE: CAT) 1.4% LOWER; UBS downgraded the stock to Sell.
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