Pre-Open Stock Movers 09/02: (ACW) (PES) (MGT) Higher; (PAY) (LULU) (PQ) Lower (more...)

September 2, 2016 9:29 AM EDT

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Today's Pre-Open Stock Movers

Accuride Corporation (NYSE: ACW) 54.2% HIGHER; announced that it has entered into a definitive agreement to be acquired by funds managed by Crestview Partners, a leading New York based private equity firm, for $2.58 per share in cash. The purchase price represents a premium of 55% over Accurides closing share price on September 1st, 2016, and a premium of 66% over the 30-day volume weighted average price as of the same date.

VeriFone Systems (NYSE: PAY) 15.7% LOWER; reported Q3 EPS of $0.42, $0.02 better than the analyst estimate of $0.40. Revenue for the quarter came in at $493 million versus the consensus estimate of $515.54 million. GUIDANCE: VeriFone Systems sees Q4 2016 EPS of $0.28-$0.29, versus the consensus of $0.48. VeriFone Systems sees Q4 2016 revenue of $460 million, versus the consensus of $536.3 million. VeriFone Systems sees FY2016 EPS of $1.64-$1.65, versus the consensus of $1.85. VeriFone Systems sees FY2016 revenue of $2 billion, versus the consensus of $2.1 billion.

lululemon athletica (NASDAQ: LULU) 8% LOWER; reported Q2 EPS of $0.38, in-line with the analyst estimate of $0.38. Revenue for the quarter came in at $514.5 million versus the consensus estimate of $515.47 million. Adjusted comps rose 4 percent, versus a gain of 2.8 percent expected. Guidance: For the third quarter of fiscal 2016, we expect net revenue to be in the range of $535 million to $545 million based on total comparable sales in the mid-single digits on a constant dollar basis. Diluted earnings per share are expected to be in the range of $0.42 to $0.44 for the quarter. This guidance assumes 137.5 million diluted weighted-average shares outstanding and a 30.5% tax rate. *** The Street sees Q316 revenue of $541.8 million and EPS of $0.44. For the full fiscal 2016, we now expect net revenue to be in the range of $2.325 billion to $2.350 billion based on total comparable sales in the mid-single digits on a constant dollar basis. Diluted earnings per share are expected to be in the range of $2.11 to $2.19 for the full year, or $2.07 to $2.15 normalized for the tax and related interest adjustments made during the first two quarters of fiscal 2016. *** The Street sees FY16 revenue of $2.34 billion and EPS of $2.15.

PetroQuest Energy, Inc. (NYSE: PQ) 7.9% LOWER; announced that, although it believes that it has current liquidity sufficient to make the approximately $6.8 million semi-annual interest payment due on September 1, 2016 with respect to its outstanding 10% Senior Notes due 2017 (the "2017 Notes"), it has elected not to do so at this time, pending the outcome of its Exchange Offers and Consent Solicitation described below. Non-payment of this interest would become an event of default under the indenture governing the 2017 Notes if the payment is not made within 30 days.

Pioneer Energy Services Corp (NYSE: PES) 6.7% HIGHER; Jefferies upgraded from Hold to Buy with a price target of $6.00 (from $5.00).

SeaChange Int'l (NASDAQ: SEAC) 4.7% LOWER; reported Q2 EPS of ($0.21), in-line with the analyst estimate of ($0.21). Revenue for the quarter came in at $18.5 million versus the consensus estimate of $18.41 million. GUIDANCE: SeaChange Int'l sees Q3 2017 EPS of ($0.20)-($0.15), versus the consensus of ($0.07). SeaChange Int'l sees Q3 2017 revenue of $20-23 million, versus the consensus of $24.8 million. SeaChange Int'l sees FY2017 EPS of ($0.60)-($0.50), versus the consensus of ($0.46). SeaChange Int'l sees FY2017 revenue of $83-88 million, versus the consensus of $92.3 million.

MGT Capital Investments (NYSE: MGT) 4.4% HIGHER; withdrawals registration statement on Form S-3.

Ambarella (NASDAQ: AMBA) 4% LOWER; reported Q2 EPS of $0.54, $0.16 better than the analyst estimate of $0.38. Revenue for the quarter came in at $65.1 million versus the consensus estimate of $64.28 million. GUIDANCE: Ambarella sees Q3 2017 revenue of $95-99 million, versus the consensus of $95.6 million.

Carnival Corporation (NYSE: CCL) 3.8% LOWER; Morgan Stanley downgraded from Equalweight to Underweight with a price target of $48.00 (from $54.00).

Cooper Cos. (NYSE: COO) 2.9% LOWER; reported Q3 EPS of $2.30, $0.01 better than the analyst estimate of $2.29. Revenue for the quarter came in at $514.7 million versus the consensus estimate of $511.81 million. GUIDANCE: Cooper Cos. sees Q4 2016 revenue of $496-509 million, versus the consensus of $507.4 million. Cooper Cos. sees FY2016 EPS of $8.32-$8.47, versus the consensus of $8.43. Cooper Cos. sees FY2016 revenue of $1.944-1.957 billion, versus the consensus of $1.95 billion.

Gap (NYSE: GPS) 2.2% LOWER; comparable sales for August 2016 were down 3 percent versus a 2 percent decrease last year. (The Street was looking for a drop of 3.6 percent.)

Broadcom Ltd. (NASDAQ: AVGO) 2% LOWER; reported Q3 EPS of $2.89, $0.12 better than the analyst estimate of $2.77. Revenue for the quarter came in at $3.8 billion versus the consensus estimate of $3.76 billion. Guides revs about the Street.

Smith & Wesson (NASDAQ: SWHC) 0.3% LOWER; reported Q1 EPS of $0.62, $0.09 better than the analyst estimate of $0.53. Revenue for the quarter came in at $207 million versus the consensus estimate of $198.16 million. GUIDANCE: Smith & Wesson sees Q2 2017 EPS of $0.53-$0.57, versus the consensus of $0.35. Smith & Wesson sees Q2 2017 revenue of $220-230 million, versus the consensus of $165.4 million. Smith & Wesson sees FY2017 EPS of $2.38-$2.48, versus the consensus of $1.92. Smith & Wesson sees FY2017 revenue of $900-920 million, versus the consensus of $776.65 million..



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