Pre-Open Stock Movers 06/04: (NQ) (PL) (DRWI) Higher; (FCEL) (TIBX) (P) Lower (more...)
- Apple (AAPL) Will Replace AT&T (T) in the Dow Jones Industrial Average
- Change in Nonfarm Payrolls 295K vs 235K Expected
- Fed Stress Test Shows all 31 Banks Exceed Minimum Requirements (JPM) (GS) (MS) (WFC) (BAC)
- Life Time Fitness (LTM) Higher on Reports of Joint Private Equity Bid
- Staples (SPLS) Tops Q4 EPS by 1c; Comps Fell 1%
NQ Mobile (NYSE: NQ) 33.7% HIGHER; company said an independent investigation did not find any evidence that the Company had engaged in the fraudulent conduct alleged by Muddy Waters.
Protective Life Corp. (NYSE: PL) 18% HIGHER; announced an agreement to be acquired by Dai-ichi Life Insurance Company, Limited for $70.00 per share in cash, or a total transaction value of approximately $5.7 billion. The transaction consideration represents a 34% premium over Protective's unaffected closing stock price of $52.30 on May 30, 2014.
DragonWave Inc. (NASDAQ: DRWI) 16.4% HIGHER; announced today revised revenue expectations for its first quarter fiscal year 2015. DragonWave now expects revenue to show growth of approximately 60% over the revenue achieved in Q4 FY14. These revised revenue expectations are preliminary, have not been reviewed by DragonWave's external auditors, and are subject to completion of customary quarterly closing and internal and external review procedures. Revenue in this release is determined in accordance with U.S. generally accepted accounting principles.
FuelCell Energy, Inc. (Nasdaq: FCEL) 13% LOWER; reported Q2 EPS of ($0.04), in-line with the analyst estimate of ($0.04). Revenue for the quarter came in at $38.3 million versus the consensus estimate of $44.73 million.
TIBCO Software, Inc. (NASDAQ: TIBX) 11.5% LOWER; announced preliminary financial results for the fiscal second quarter ended June 1, 2014. TIBCO will report final results for the second quarter on Thursday, June 19, 2014. For the second quarter of fiscal 2014, TIBCO expects total revenue to be in the range of $250 to $252 million. License revenue is expected to be in the range of $75 to $76 million. Earnings per share, calculated in accordance with U.S. generally accepted accounting principles (GAAP), are expected to be in the range of $0.00 to $0.01. Non-GAAP earnings per share are expected to be in the range of $0.12 to $0.13. The combined effect of lower-than-expected profits along with the mix of revenue across products and regions is projected to result in a higher than anticipated tax rate on both a GAAP and non-GAAP basis. *** The Street is looking for Q2 revs of $267.5 million and EPS of $.21.
SunPower Corp. (NASDAQ: SPWR) 5.4% HIGHER; has been selected by NV Energy to build a 19-megawatt (DC) solar photovoltaic power system at Nellis Air Force Base in Nevada. The system is expected to be constructed next year, contingent on contract approval by Nevada's Public Utilities Commission. It will be the second major solar installation located at the military facility SunPower completed a 14-megawatt (DC) solar power system at the base in 2007.
Advaxis, Inc. (Nasdaq: ADXS) 4.4% HIGHER; announced the publication of preclinical research with its lead candidate, ADXS-HPV for the treatment of HPV-associated cancers in the journal, Cancer Immunology Research. In this publication, researchers at the National Cancer Institute (NCI) reported on the biologic mechanisms behind the unique ability of ADXS-HPV to decrease the immunosuppressive activity of Tregs in the tumor microenvironment that result in increased anti-tumor activity. This research demonstrates the critical role of the tLLO peptide fusion and the strong adjuvant effect of tLLO as contributing to the increase in activated T-cells and the relative decrease in the number of Tregs in tumors, thereby increasing anti-tumor activity.
Pandora Media (NYSE: P) 4.3% LOWER; the company's royalty rates to songwriters will come under federal review. Bloomberg noted that the U.S. Department of Justice will examine consent decress with two major songwriting groups, the American Society of Composers, Authors and Publishers and Broadcast Music Inc. Those agreements have been in place since 1941.
Exact Sciences (NASDAQ: EXAS) 3% HIGHER; Goldman Sachs initiates coverage with a Buy rating and a price target of $19.00
Coupons.com (NASDAQ: COUP) 2.8% LOWER; gives back some recent gains
SunEdison, Inc. (NYSE: SUNE) 2.8% LOWER; announced today that it intends to offer, subject to market and other conditions, $500 million aggregate principal amount of convertible senior notes due 2020 (the "notes") in a private placement. The notes will be offered by the initial purchasers only to qualified institutional buyers pursuant to Rule 144A of the Securities Act of 1933, as amended. The Company also intends to grant to the initial purchasers a 30-day option to purchase an additional $100 million aggregate principal amount of notes on the same terms and conditions
Qlik Technologies, Inc. (NASDAQ: QLIK) 2.5% LOWER; down on TIBCO guidance.
Ascena Retail Group, Inc. (NASDAQ: ASNA) 2.4% LOWER; reported Q3 EPS of $0.22, $0.03 better than the analyst estimate of $0.19. Revenue for the quarter came in at $1.15 billion versus the consensus estimate of $1.17 billion. Comps fell 1 percent. Ascena Retail Group, Inc. reaffirmed FY2014 guidance.
Progress Software (NASDAQ: PRGS) 2% LOWER; down on TIBCO guidance.
Ambarella (NASDAQ: AMBA) 1.9% HIGHER; reported Q1 EPS of $0.25, $0.04 better than the analyst estimate of $0.21. Revenue for the quarter came in at $40.9 million versus the consensus estimate of $40 million.
Annies Inc. (NYSE: BNNY) 1.9% LOWER; On June 1, 2014, the Audit Committee of the Board of Directors of Annies Inc. (NYSE: BNNY) was orally informed by its independent registered public accounting firm, PricewaterhouseCoopers LLP (PwC), that PwC was resigning effective the earlier of August 11, 2014 or the completion of the Companys filing with the Securities and Exchange Commission of the Form 10-Q for the period ending June 30, 2014. The resignation was confirmed in a letter delivered to the Audit Committee on June 2, 2014. The Audit Committee has commenced a process to select a new accounting firm to serve as the Companys independent registered public accounting firm
Allison Transmission Holdings Inc. (NYSE: ALSN) 1.4% LOWER; announced the sale of 35,000,00 shares of its common stock by investment funds affiliated with The Carlyle Group (Nasdaq: CG) and Onex Corporation (the "Sponsors"). In addition, the underwriter will have an option to purchase up to 5,250,000 additional shares from the Sponsors. All of the shares are being sold on a pro rata basis by the Sponsors, which are existing stockholders of Allison Transmission Holdings Inc. ("Allison"), in accordance with their current interests. Allison will not receive any of the proceeds from the offering of shares by the Sponsors. Closing of the offering is expected to occur on or about June 9, 2014, subject to customary closing conditions.
Mattress Firm (NASDAQ: MFRM) 1.1% HIGHER; reported Q1 EPS of $0.38, $0.02 better than the analyst estimate of $0.36. Revenue for the quarter came in at $333.5 million versus the consensus estimate of $337.55 million. Comps rose 4.3%. Mattress Firm sees FY2014 revenue of $1.50-1.56 billion, versus the consensus of $1.50 billion.
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