Pre-Open Movers 01/03: (SPWR) (TASR) (GPS) Higher; (ALLT) (MLNX) (FDO) Lower (more...)

January 3, 2013 9:41 AM EST
Allot Communications (NASDAQ: ALLT) 16% LOWER; Oppenheimer Downgrades to Perform Says Business has Decelerated

SunPower Corporation (NASDAQ: SPWR) 15% HIGHER; up for second day after deal with Buffett's MidAmerican. Lazard upgrades to Buy

Mellanox Technologies, Ltd. (NASDAQ: MLNX) 14% LOWER; warns for Q4. The company announced that its fourth quarter revenue is projected to be in the range of $119 million to $121 million, below the company's previous guidance of $145 million to $150 million, and the consensus of $148.26 million.

Family Dollar Stores, Inc. (NYSE: FDO) 11% LOWER; reported Q1 EPS of $0.69, $0.06 worse than the analyst estimate of $0.75. Revenue for the quarter came in at $2.42 billion versus the consensus estimate of $2.38 billion. Family Dollar Stores, Inc. sees FY2013 EPS of $3.95-4.25, versus prior guidance of $4.10-4.40 and the consensus of $4.25.

Alcatel-Lucent, S.A. (NYSE: ALU) 8% HIGHER; upgraded at Credit Suisse

TASER (Nasdaq: TASR) 7% HIGHER; sees Q4 revenues above views.

Rambus Inc. (NASDAQ: RMBS) 7% LOWER; barred from using 12 patents to get royalties form Micron.

Landec Corp (NASDAQ: LNDC) 5% HIGHER; reported Q2 EPS of $0.34, $0.18 better than the analyst estimate of $0.16. Revenue for the quarter came in at $114.7 million versus the consensus estimate of $102.69 million. As reflected in our financial results, Landec had a very good first half of fiscal year 2013 with revenue growth of 40% and net income growth of 158% compared to the same period last year. Our original guidance for all of fiscal year 2013 was to grow revenues by approximately 30% and net income by 25% to 35% compared to fiscal year 2012.

Ross Stores, Inc. (Nasdaq: ROST) 4% HIGHER; reported that sales increased 11% to $1.276 billion for the five weeks ended December 29, 2012, up from $1.149 billion in sales for the five weeks ended December 31, 2011. Comparable store sales for the month grew 6% on top of a 9% increase in the prior year.

Gap (NYSE: GPS) 4% HIGHER; December comps up 5% versus an expected 3.6% rise; Buys INTERMIX for $130M; Announces New $1B Buyback

Biogen Idec (NASDAQ: BIIB) 4% LOWER; reported top-line results of EMPOWER, a Phase 3 trial investigating dexpramipexole in people with amyotrophic lateral sclerosis (ALS). The trial did not meet its primary endpoint, a joint rank analysis of function and survival, and no efficacy was seen in the individual components of function or survival. The trial also failed to show efficacy in its key secondary endpoints. Additional analyses of multiple subpopulations failed to demonstrate any efficacy among these groups. Based on these results, Biogen Idec will discontinue development of dexpramipexole in ALS.

Target Corp. (NYSE: TGT) 3% HIGHER; said December comparable-store sales were essentially flat, versus the consensus of up 1.3%

UnitedHealth Group (NYSE: UNH) 3% LOWER; downgraded at Desutche Bank

TJX Cos. (NYSE: TJX) 3% HIGHER; December comps rose 6%, versus an expected 2.4% rise. The company also boosted its Q4 outlook. They now see Q4 EPS of $0.77-$0.78, versus its prior view of $72-$0.75 and the consensus of $0.76.

WellPoint Inc. (NYSE: WLP) 2% LOWER; downgraded at Desutche Bank Incorporated (Nasdaq: PCLN) 2% HIGHER; upgraded at BofA

Hot Topic, Inc. (Nasdaq: HOTT) 1% HIGHER; Holiday comps rose 2.2 percent with a 4 percent gain in sales to $177.3 million. The company reiterated its previously announced fourth quarter earnings guidance (14 weeks ending February 2, 2013) in the range of $0.23 to $0.27 per share, as compared to earnings per share of $0.21 last year.

Buffalo Wild Wings, Inc. (NASDAQ: BWLD) 1% HIGHER; Steven A. Cohen's hedge fund SAC Capital disclosed a 5%, or 930,600 share, stake in the company. This is up 23,761.54% from the 3,900 shares held at the end of the latest quarter ending September 30, 2012.

Chipotle Mexican Grill, Inc. (NYSE: CMG) 1% LOWER; cautious comments from Jefferies

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