Pre-Open Movers 6/06: ASM Intl (ASMI) Up on Offer for Assets; Gentium (GENT) Sinks on Study Concerns
StreetInsider.com Pre-Open Movers:
Tumbleweed Communications (NASDAQ: TMWD) 47% HIGHER; Sopra Group and Tumbleweed Communications (Nasdaq: TMWD) announced a plan of merger in which Sopra Group, via its subsidiary Axway, would acquire all the outstanding Tumbleweed stock in cash at $2.70 per share. Shares of Tumbleweed closed at $1.77 yesterday.
Gentium S.p.A (NASDAQ: GENT) 40% LOWER; Announces Update from Data Safety Monitoring Board Review of the Phase III Treatment Trial of Defibrotide for Severe Veno-Occlusive Disease. In its latest report, the DSMB reconfirmed its findings regarding safety and balance of the trial arms based on the data presented to date. However, the DSMB did have concerns and questions about the data assembled and, accordingly, the DSMB "did not regard it proper to make a recommendation concerning the further conduct of the study at this time."
Parlux Fragrances, Inc. (NASDAQ: PARL) 20% HIGHER; reports FY08 (for the fiscal year ended March 31, 2008) EPS of $0.24, versus the analyst estimate of $0.17 and compared to ($0.44) last year. Revenues for the year were $153.69 million, versus the consensus of $154.40 million.
GeoResources, Inc. (NASDAQ: GEOI) 14% LOWER; entered into definitive agreements with institutional investors to sell 1.53 million shares of unregistered common stock in a private placement for $22.50 per share for gross proceeds of $34.5 million.
ASM International (NASDAQ: ASMI) 14% HIGHER; received an unsolicited indicative offer from Applied Materials, Inc. for its ALD (Atomic Layer Deposition) and PECVD (Plasma Enhanced Chemical Vapour Deposition) activities. For the purpose of this offer, which was communicated orally, Applied Materials has indicated an initial value of these activities in the range of USD 400 million to USD 500 million.
Focus Media Holding Ltd. (Nasdaq: FMCN) 10% LOWER; reports Q1 EPS of $0.34, ex-items, 1 cents better than the analyst estimate of $0.33. Revenues for the quarter were $161.6 million, versus the consensus of $162 million. Due to the impact of the recent earthquake in Sichuan province, our full year 2008 revenue guidance excluding discontinued wireless advertising operations is revised to be between $820 million to $850 million as compared to the previous guidance of between announced $860 million to $890 million (cons is $882.2 million). Sees FY EPS of or $1.76 to $1.91, versus the consensus of $1.95.
Source Interlink (Nasdaq: SORC) 9% HIGHER; reports Q1 adjusted EPS of $0.18 compared to $0.10 for the same quarter last year. GAAP revenue for fiscal 2009 first quarter increased $139.0 million or 29.2% to $614.4 million compared to the prior year total GAAP revenue of $475.4 million. The increase in revenue year-over-year is due, in large part, to the SIM acquisition and an exclusive deal inside the Periodical Fulfillment Segment.
Quiksilver (NYSE: ZQK) 9% HIGHER; reports Q2 EPS of $0.30, ex-items, which may not compare to the analyst estimate of $0.01. Revenues for the quarter were $596.3 million, versus the consensus of $605.43 million. Sees FY EPS slightly below FY07 EPS of $0.90, versus the consensus of $0.57. Sees FY revs up 10%.
Trina Solar Ltd. (NYSE: TSL) 8% LOWER; reports Q1 EPS of $0.51, above the consensus of $0.48. Revenues came in at $120.7 million, versus the consensus of $116.9 million. Sees Q2 revenues of $169-$177 million, versus the consensus of $168.1 million. Sees FY revenues of $770-$808 million, versus the consensus of $756.5 million.
National Semiconductor (NYSE: NSM) 7.5% HIGHER; reports Q4 EPS of $0.34, which may not compare to the analyst estimate of $0.26. Revenues for the quarter were $462 million, versus the consensus of $449.48 million. Sees Q1 sales of $460-$475 million, versus the consensus of $451.2 million.
Bearingpoint Inc. (NYSE: BE) 5% LOWER; CFO Resigns
Volterra Semiconductor (Nasdaq: VLTR) 4% LOWER; Piper downgrades to Neutral
Panera Bread Co. (Nasdaq: PNRA) 3% HIGHER; Piper ugrades
The Cooper Companies, Inc. (NYSE: COO) 1.6% HIGHER; reports Q2 EPS of $0.49, ex-items, 1 cents better than the analyst estimate of $0.48. Revenues for the quarter were $263.5 million, versus the consensus of $256.70 million. Still sees FY08 EPS of $2.10-$2.35, versus the consensus $2.30. Sees FY08 revs of $1.06-$1.1 billion, versus the consensus of $1.07 billion
Lehman Brothers (NYSE: LEH) 1.5% HIGHER; could release its earnings early, in an effort to calm investor chatter about the fate of the bank.
Network Equipment Technologies, Inc. (NYSE: NWK) INDICATED LOWER; announced today it expects revenue for the first quarter of fiscal 2009 to be below Wall Street expectations, primarily due to a shortfall in revenue from government programs. Network Equipment expects revenue for the quarter to be in the range of approximately $16 to $20 million, below the consensus of $26.2 million.
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