Pre-Open Movers 01/04: (FOLD) (HNR) (KKD) Higher; (ARAY) (FINL) (LULU) Lower (more...)

January 4, 2013 9:40 AM EST
Accuray Incorporated (Nasdaq: ARAY) 23% LOWER; sees revenue of $72 million to $75 million, which is well below the consensus of $94.1 million. The company (1) manufacturing and supply related issues, which delayed contribution from new products launched at the 2012 Annual Meeting of the American Society for Radiation Oncology (ASTRO), and (2) commercial focus and salesforce transitional issues.

Cytokinetics, Incorporated (NASDAQ: CYTK) 10% HIGHER; new Overweight at Piper Jaffray

Amicus Therapeutics (Nasdaq: FOLD) 10% HIGHER; announced positive preliminary results from all 4 dose cohorts in a Phase 2 study (Study 010) to evaluate the safety and pharmacokinetic (PK) effects of the pharmacological chaperone AT2220 (duvoglustat HCl) co-administered with enzyme replacement therapy (ERT) for Pompe disease (Myozyme® and Lumizyme®). Myozyme and Lumizyme (alglucosidase alfa, or recombinant human GAA enzyme, rhGAA) are the first and only approved treatments for Pompe disease. Based on the Study 010 results, Amicus expects to initiate a repeat-dose clinical study in the third quarter of 2013.

Harvest Natural Resources, Inc. (NYSE: HNR) 7% HIGHER; announced that it has encountered oil in the wildcat well Dussafu Tortue Marin-1 (DTM-1) drilled in the Dussafu Marin PSC, in the offshore waters of Gabon, West Africa. Harvest operates the Dussafu PSC, holding a 66.667 percent interest. The well was spudded on November 19, 2012, and is being drilled to test the potential of the pre-salt Gamba and Dentale Formations.

Krispy Kreme Doughnuts, Inc. (NYSE: KKD) 7% HIGHER; new Buy at Longbow

Schulman (NASDAQ: SHLM) 5% HIGHER; reported Q1 EPS of $0.50, $0.01 better than the analyst estimate of $0.49. Revenue for the quarter came in at $540.6 million versus the consensus estimate of $495.4 million. Schulman reaffirmed FY2013 guidance

Finish Line (NASDAQ: FINL) 5% LOWER; reported Q3 EPS of $0.00, $0.11 worse than the analyst estimate of $0.11. Revenue for the quarter came in at $296.6 million versus the consensus estimate of $298.48 million. Comps rose 3.6 percent. Finish Line sees Q4 2013 EPS of $0.74-$0.78, versus the consensus of $0.82. Finish Line sees FY2013 EPS of $1.47-$1.51, versus the consensus of $1.64. The number is below prior expectations for 6 percent to 9 percent growth over $1.53 reported in FY12.

Lululemon Athletica Inc. (NASDAQ: LULU) 5% LOWER; downgraded at Credit Suisse

Rovi Corporation (Nasdaq: ROVI) 4% HIGHER; intends to pursue the sale of its Rovi Entertainment Store business as part of its ongoing strategic efforts to focus the Company on growth opportunities related to its core enabling technologies and services. The Company has retained GCA Savvian Advisors, LLC as its financial adviser in connection with the potential sale. Boosts FY12 EPS outlook.

Avon Products Inc. (NYSE: AVP) 4% HIGHER; BofA/Merrill Lynch from Neutral to Buy.

Vringo, Inc. (Nasdaq: VRNG) 4% HIGHER; continues recent momentum

InterMune, Inc. (Nasdaq: ITMN) 4% LOWER; announced unaudited net sales of Esbriet (pirfenidone) for the fourth quarter ended December 31, 2012

Under Armour, Inc. (NYSE: UA) 3% HIGHER; Credit Suisse upgraded from Neutral to Outperform with a price target of $59.00

Coinstar, Inc. (NASDAQ: CSTR) 3% LOWER; announcement that CEO Paul Davis will be stepping down in March. The company named CFO J. Scott Di Valerio as his successor.

First Solar, Inc. (NASDAQ: FSLR) 2% LOWER; downgraded at Raymond James

Dole Food Company Inc. (NYSE: DOLE) 2% LOWER; downgraded at BofA/ML

Insulet Corporation (NASDAQ: PODD) 2% LOWER; announced the sale of $85 million of its common stock pursuant to an underwriting agreement with Canaccord Genuity Inc.

Citigroup, Inc. (NYSE: C) 1% HIGHER; upgraded at Goldman

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