Pre-Open Movers 01/08: (PERI) (GTXI) (MON) Higher; (GME) (CY) (YUM) Lower (more...)

January 8, 2013 9:26 AM EST
Perion Network Ltd. (NASDAQ: PERI) 19% HIGHER; Revenues in the fourth quarter of 2012 are expected to reach a record $21 million, more than double the fourth quarter of 2011. Revenue in 2013 is expected to exceed $110 million, representing overall growth of 80%+ year over year, and at least 25% organic growth year over year

GTX, Inc. (NASDAQ: GTXI) 13% HIGHER; the FDA has designated enobosarm (GTx-024) for the prevention and treatment of muscle wasting in patients with non-small cell lung cancer as a Fast Track development program.

GameStop Corp. (NYSE: GME) 10% LOWER; reported sales results for the nine-week holiday period ended Dec. 29, 2012. Total global sales for the period were $2.88 billion, a 4.6% decrease compared to the 2011 holiday sales period. Total comparable store sales decreased 4.4%, with U.S. comps of -3.5% and international comps of -6.4%. Based on the holiday sales results, GameStop is narrowing its comparable store sales range for the fourth quarter to -7.0% to -4.0% and the full year to -9.0% to -7.5%.

Cypress Semiconductor (NYSE: CY) 5% LOWER; warns for Q4. Sees Consolidated revenue of $177 million to $179 million, versus the consensus of $193.50. Sees non-GAAP fully diluted earnings per share of $0.03 to $0.04, versus the consensus of $0.14.

Calumet Specialty Products Partners, L.P. (Nasdaq: CLMT) 5% LOWER; announced an underwritten public offering of 5,000,000 common units. Calumet also intends to grant the underwriters the option to purchase up to 750,000 additional common units.

Yum! Brands (NYSE: YUM) 5% LOWER; Due to adverse publicity associated with a government review of China poultry supply - and the corresponding significant impact on KFC China sales during the last two weeks of December - Yum! Brands (NYSE: YUM) now expects China Division same-store sales to be -6% for the fourth quarter of 2012, versus our previous forecast of -4%. The Company expects full-year 2012 earnings per share, excluding Special Items, of approximately $3.24. We do not anticipate providing any further updates or commentary until our scheduled earnings release on February 4, 2013. The Street is looking for FY12 EPS of $3.26.

Team, Inc. (NYSE: TISI) 5% HIGHER; reported Q2 EPS of $0.66, $0.06 better than the analyst estimate of $0.60. Revenue for the quarter came in at $201 million versus the consensus estimate of $182.7 million. Team, Inc. sees FY2013 EPS of $1.90-2.05, versus prior guidance of $1.85-2.00 and the consensus of $1.96. Sees revs of $700 million to $730 million, versus the consensus of $710.14 million.

Fusion-io (NYSE: FIO) 4% LOWER; William Blair downgraded Fusion-io from Outperform to Market Perform

Hittite Microwave (NASDAQ: HITT) 4% LOWER; Goldman Sachs downgraded Hittite Microwave from Neutral to Sell with a price target of $54.00, suggesting 14% downside.

Monsanto Company (NYSE: MON) 4% HIGHER; reported Q1 EPS of $0.62, $0.25 better than the analyst estimate of $0.37. Revenue for the quarter came in at $2.93 billion versus the consensus estimate of $2.64 billion. Monsanto Company sees FY2013 EPS of $4.30-4.40, versus the consensus of $4.43.

AutoZone, Inc. (NYSE: AZO) 3% LOWER; Morgan Stanley downgraded AutoZone from Equalweight to Underweight.

Sears Holdings Corporation (Nasdaq: SHLD) 2% HIGHER; announced that Louis J. D'Ambrosio will step down as Chief Executive Officer for family health matters at the end of the company's fiscal year on February 2, 2013. Edward S. Lampert will then assume the role of CEO of Sears Holdings, in addition to his role as Chairman of the Board of Directors

Southwest Airlines Co. (NYSE: LUV) 2% HIGHER; Deutsche Bank upgraded Southwest from Hold to Buy with a price target of $15.00 (from $11.00).

MGM Resorts (NYSE: MGM) 2% HIGHER; Credit Suisse upgraded MGM Resorts from Neutral to Outperform.

Abraxas Petroleum Corporation (NASDAQ: AXAS) 2% HIGHER; provided and update on Eagle Ford, Williston Basin operations

Solar Capital Ltd. (Nasdaq: SLRC) 2% LOWER; commenced a public offering of 6,000,000 shares of its common stock. In connection with the proposed offering, the Company intends to grant the underwriters for the offering a 30-day option to purchase up to an additional 900,000 shares of common stock.

Deckers Outdoor (Nasdaq: DECK) 2% LOWER; Baird downgrades Deckers Outdoor from Outperform to Neutral

ConAgra Foods, Inc. (NYSE: CAG) 2% LOWER; is offering to sell, subject to market and other conditions, approximately $240.0 million of its common stock through an underwritten public offering. ConAgra Foods also granted the underwriter a 30-day option to purchase up to an additional $35.0 million of its common stock.

Illinois Tool Works (NYSE: ITW) 1% LOWER; JPMorgan downgraded Illinois Tool Works from Neutral to Underweight

Celgene Corporation (NASDAQ: CELG) 1% HIGHER; Upgraded at Piper Jaffray and RBC

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