Pre-Open Stock Movers 9/13: (ULTA) (GSVC) (OCLR) Higher; (GALE) (ARTX) (INN) Lower (more...)

September 13, 2013 9:30 AM EDT Send to a Friend
Galena Biopharma, Inc. (Nasdaq: GALE) 16.2% LOWER; announced the pricing of an underwritten public offering of 17,500,000 units at a public offering price of $2.00 per unit, resulting in gross proceeds of $35,000,000. Each unit consists of one share of common stock, and a warrant to purchase 0.35 of a share of common stock at an exercise price of $2.50 per share.

Ulta Salon (NASDAQ: ULTA) 14% HIGHER; reported Q2 EPS of $0.70, $0.03 better than the analyst estimate of $0.67. Revenue for the quarter came in at $601 million versus the consensus estimate of $588.37 million. Comparable store sales (sales for stores open at least 14 months) increased 8.4% compared to an increase of 9.7% in the second quarter of fiscal 2012, including the impact of e-commerce sales; Sees Q3 2013 EPS of $0.71-$0.74, versus the consensus of $0.76. Also sees Q3 2013 revenue of $613-623 million, versus the consensus of $618.70 million. Comparable store sales for the third quarter of 2013 are expected to increase 5% to 7%. The Company reported a comparable store sales increase of 8.4% in the third quarter of 2012.

GSV Capital Corp. (NASDAQ: GSVC) 11.8% HIGHER; Up on Twitter IPO filing (owns stake)

Oclaro (NASDAQ: OCLR) 10.9% HIGHER; B. Riley upgraded from Neutral to Buy with a price target of $2.40 (from $1.31).

Rockwell Medical Technologies (NASDAQ: RMTI) 9.2% HIGHER; Craig-Hallum initiates coverage with a Buy. PT $16.00.

Arotech Corporation (Nasdaq: ARTX) 8.3% LOWER; intends to offer shares of its common stock in an underwritten public offering. All of the shares in the offering are to be sold by Arotech. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the final size or terms of the offering.

Firsthand Technology Value Fund (NASDAQ: SVVC) 6.9% HIGHER; Up on Twitter IPO filing (owns stake)

Summit Hotel Properties (NYSE: INN) 6.6% LOWER; announced the pricing of its public offering of 15,000,000 shares of its common stock, par value $0.01 per share, at a public offering price of $9.20 per share, for total net proceeds of approximately $132.3 million, after deducting the underwriting discount and other estimated offering expenses payable by the Company.

Stratasys Ltd. (NASDAQ: SSYS) 5% LOWER; priced an underwritten public offering of 4,500,000 of its ordinary shares at a price to the public of $93.00 per ordinary share.

SAFEWAY (NYSE: SWY) 4.5% HIGHER; Credit Suisse upgraded from Underperform to Outperform.

Oncolytics Biotech (NASDAQ: ONCY) 4.4% HIGHER; Needham & Company initiated coverage with a Buy rating and a price target of $8.00. Analyst Chad Messer thinks valuation is "compelling."

United Natural Foods, Inc. (NASDAQ: UNFI) 4.2% HIGHER; reported Q4 EPS of $0.65, $0.05 better than the analyst estimate of $0.60. Revenue for the quarter came in at $1.64 billion versus the consensus estimate of $1.63 billion. Introduction of Fiscal 2014 Guidance UNFI provided its financial outlook for fiscal 2014, ending August 2, 2014, which is a 52-week fiscal year compared with the 53-week fiscal 2013. For fiscal 2014, the Company expects net sales in the range of approximately $6.65 to $6.78 billion, an increase of approximately 9.7% to 11.8% over fiscal 2013. Adjusting for the 53rd week in fiscal 2013, sales growth for fiscal 2014 is in the range of approximately 11.8% to 14.0%. The Company estimates GAAP earnings per diluted share for fiscal 2014 in the range of approximately $2.40 to $2.50 per share, an increase of approximately 10.1% to 14.7% over fiscal 2013 GAAP earnings per diluted share of $2.18.

PVR Partners, L.P. (NYSE: PVR) 3.8% LOWER; announced that it has commenced an underwritten public offering of 5,500,000 common units representing limited partner interests in PVR. PVR expects to grant the underwriter a 30-day option to purchase a maximum of 825,000 additional common units. The immediate use of the net proceeds from the offering will be to repay a portion of the borrowings outstanding under PVR's revolving credit facility (the "Revolver"). PVR anticipates that it will re-borrow from time to time amounts repaid under the Revolver for general partnership purposes. Barclays Capital Inc. will serve as the sole underwriter.

Analogic Corp (NASDAQ: ALOG) 3.2% HIGHER; reported Q4 EPS of $1.53, $0.52 better than the analyst estimate of $1.01. Revenue for the quarter came in at $166.2 million versus the consensus estimate of $164.2 million.

Nanosphere, Inc. (NASDAQ: NSPH) 3% LOWER; announced the pricing of its previously announced underwritten public offering of 15,000,000 shares of its common stock at a public offering price of $1.75 per share. In connection with the offering, the Company has also granted the underwriters a 30-day option to purchase up to an additional 2,250,000 shares of common stock to cover over-allotments, if any. Piper Jaffray & Co. is acting as the sole book-running manager and Canaccord Genuity Inc. and Cowen and Company, LLC acted as co-managers for the offering.

Intel (NASDAQ: INTC) 2% HIGHER; Jefferies upgraded from Hold to Buy with a price target of $30.00 (from $27.00)

The Hain Celestial Group, Inc. (Nasdaq: HAIN) 1.6% LOWER; announced today that it has been informed of the sale of an aggregate of 3,589,963 shares of common stock of Hain by certain selling stockholders, including entities related to Carl C. Icahn to Jefferies LLC, as the underwriter in the registered public offering of those shares. No shares of common stock are being sold by Hain and Hain will not receive any proceeds from the offering.

NXP Semiconductors N.V. (Naddaq: NXPI) 1.6% LOWER; announced that certain of its principal stockholders, including affiliates of funds managed or advised by Kohlberg Kravis Roberts & Co. L.P., AlpInvest Partners B.V., Apax Partners LLP, Bain Capital Partners, LLC and Silver Lake Technology Management, L.L.C., have commenced a registered secondary offering of 25,000,000 shares of common stock pursuant to NXP's shelf registration statement on Form F-3. NXP will not receive any proceeds from the sale of shares in the offering. Morgan Stanley & Co. LLC is acting as underwriter for the offering.

SunEdison, Inc. (NYSE: SUNE) 1% LOWER; announced the pricing of a public offering of 30,000,000 shares of common stock at a price of $7.25 per share.


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