Pre-Open Movers 7/28: Amgen (AMGN) Up On Positive osteoporosis Trial; Vanda (VNDA) Sinks On FDA 'Not Approvable"

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VNDA Hot Sheet

Overall Analyst Rating:
NEUTRAL (

StreetInsider.com Pre-Open Movers:

Vanda Pharmaceuticals Inc. (Nasdaq: VNDA) 57% LOWER; received a not approvable letter from the FDA in response to its New Drug Application for iloperidone, an investigational atypical antipsychotic that was reviewed for the treatment of schizophrenia.

ILOG (Nasdaq: ILOG) 30% HIGHER; IBM (NYSE: IBM) announced an agreement to acquire ILOG for US340 million.

Silicom Ltd. (NASDAQ: SILC) 20% LOWER; reports Q2 EPS of $0.05, versus $0.25 in Q207. Revenues for the quarter were $5.2 million, compared to $6.6 million in the same quarter last year.

Meadow Valley (NASDAQ: MVCO) 20% HIGHER; entered into a definitive merger agreement to be acquired by an affiliate of Insight Equity I LP for $11.25 per share in cash.

EnergySouth, Inc. (Nasdaq: ENSI) 20% HIGHER; Sempra Energy (NYSE: SRE) and EnergySouth, Inc. announced a definitive merger agreement for Sempra Energy to acquire EnergySouth for $510 million in cash. Shareholders of EnergySouth will receive $61.50 per share for their EnergySouth stock.

Amgen Inc. (Nasdaq: AMGN) 16% HIGHER; positive top-line results for denosumab in the treatment of postmenopausal osteoporosis.

Northern Oil and Gas (AMEX: NOG) 7% LOWER; Cautious Barron's article.

Gehl Co. (Nasdaq: GEHL) 7% LOWER; reports Q2 EPS of $0.43, below the consensus of $0.61. Revenues came in at versus the consensus of $130.6 million. Gehl sees FY EPS of $0.85-$1.05, versus the consensus of $1.08. Sees FY revenues of $390-$410 million, versus the consensus of $412.5 million.

Sohu.com (Nasdaq: SOHU) 4% HIGHER; reports Q2 Non-GAAP earnings of $$1.07 per share, ex-items, well above the consensus of $0.67. Revenues came in at $102 million, versus the consensus of $96.5 million. Sees Q3 Non-GAAP EPS of $1.00-$1.05, versus the consensus of $0.71 consensus. Sees Q3 revenues of $112.0-$116.0 million, versus the consensus of $106.75 million.

Kraft Foods Inc. (NYSE: KFT) 3% HIGHER; reports Q2 EPS of $0.58, above the consensus of $0.50. Revenues came in at $11.2 billion, versus the consensus of $10.7 billion. Kraft Foods sees FY EPS of at least $1.92, above the consensus of $1.89.

Intuitive Surgical, Inc. (Nasdaq: ISRG) 3% LOWER; Barron's says stock may be overvalued.

NetApp, Inc. (Nasdaq: NTAP) 3% HIGHER; Merrill upgrades to Buy

Best Buy Co. Inc. (NYSE: BBY) 2% HIGHER; BofA upgrades to Buy

Clorox Co. (NYSE: CLX) 2% LOWER; Goldman cuts to Sell

Melco Crown Entertainment Ltd. (Nasdaq: MPEL) 2% LOWER; Credit Suisse downgrades to Neutral
Verizon (NYSE: VZ) 1.5% LOWER; reports Q2 EPS of $0.67, above the consensus of $0.65. Revenues came in at $24.1 billion, versus the consensus of $24.2 billion.