StreetInsider.com Pre-Open Movers 01/15: (EXPR) (QLGC) (DELL) Higher; (COOL) (GIVN) (LULLU) Lower (more...)

January 15, 2013 9:29 AM EST Send to a Friend
Majesco Entertainment Company (NASDAQ: COOL) 32% LOWER; reported Q4 EPS of ($0.07), $0.09 worse than the analyst estimate of $0.02. Revenue for the quarter came in at $26.6 million versus the consensus estimate of $23.97 million.

Express, Inc. (NYSE: EXPR) 14% HIGHER; sees fourth-quarter 2012 EPS of 72 cents to 74 cents, versus prior expectation of 62 cents to 68 cents and the consensus of 66 cents. Comps may also be positive, versus prior expectations of a low-single-digit decline. Fiscal 2012 EPS now expected to be $1.56 to $1.59, from $1.47 to $1.53 and the consensus of $1.50.

Radisys Corp (NASDAQ: RSYS) 12% HIGHER; announced that, based upon preliminary results which are subject to final review and audit, it expects fourth quarter revenue near the high end of the guidance range provided on October 30, 2012 and positive non-GAAP earnings per share compared to a previous guidance range of ($0.06) to breakeven. Strong Software-Solutions revenues enabled better than expected profitability. *** The Street was looking for revs of $64.6 million and a loss of 3 cents per share.

Given Imaging (NASDAQ: GIVN) 12% LOWER; announced that it is ending its previously announced exploration of a possible sale or merger transaction as part of its evaluation of strategic options in order to maximize growth and enhance shareholder value. After a thorough exploration, the executive committee of the Board of Directors appointed to oversee the process unanimously concluded that the continued execution of the Company's operating plan, supplemented by additional acquisitions and alliances, provides the best opportunity at this time to enhance value for all of the Company's shareholders. In addition, Discount Investment Corporation Ltd. has informed the Company that it intends to seek and consider a sale of the 45.5% of Company's outstanding shares it owns, directly or indirectly, in one block. There can be no assurance that any specific action or transaction will occur.

Multi-Fineline Electronix, Inc. (NASDAQ: MFLX) 10% LOWER; expects net sales in the first quarter of fiscal 2013 to be above the Company's guidance range at approximately $290 million, up 21 percent from net sales of $239.3 million in the same quarter last year. Gross margin during the first quarter of fiscal 2013 is expected to be approximately 8.5 percent, below the Company's guidance range, compared to 12.2 percent for the same period in the prior year. MFLEX expects to provide its complete financial results and business outlook in its earnings release and conference call on February 7, 2013. *** The Street sees Q1 revs of $270.2 million and EPS of 58 cents.

Santarus, Inc. (Nasdaq: SNTS) 10% HIGHER; announced that the U.S. Food and Drug Administration (FDA) has approved UCERIS (budesonide) extended release tablets for the induction of remission in patients with active, mild to moderate ulcerative colitis. The company expects to commence the commercial launch of UCERIS in March 2013.

QLogic Corp. (Nasdaq: QLGC) 8% HIGHER;
QLogic expects to report net revenue of approximately $119 million for the third quarter of fiscal 2013 and non-GAAP EPS of $0.19 to $0.20, versus the consensus of $115.1 million and $0.17.

Gordmans Stores, Inc. (NASDAQ: GMAN) 8% LOWER; lowers its fourth quarter guidance. The Company announced that fourth quarter comparable sales through January 12, 2013 declined 4.6%. Based on this performance, the Company now expects net revenue for the fourth quarter of fiscal 2012, a fourteen week quarter compared to the thirteen week fourth quarter of fiscal 2011, to be approximately $203 million, compared with $185 million in the prior year period and previous guidance of $213 to $215 million. In addition, the Company expects diluted earnings per share to be in the range of $0.35 to $0.37, compared with $0.53 in the prior year period and previous guidance of $0.58 to $0.61. *** The consensus is revenues of $214.2 million and EPS of $0.60.

Globecomm Systems Inc. (NASDAQ: GCOM) 8% HIGHER; retained Needham & Company to act as its financial advisor to review potential strategic alternatives to enhance shareholder value. There can be no assurance that this process will result in any transaction or any change in the Company’s overall structure or business model.

lululemon athletica, Inc. (NASDAQ: LULU) 7% LOWER; For the fourth quarter, the Company now anticipates that net revenue will be at the high end of its original guidance range of $475 million to $480 million based on a comparable-store sales percentage increase in the high single digits on a constant-dollar basis. The Wall Street consensus is $489 million. The Company also now expects diluted earnings per share will be $0.74 for the quarter. The previous guidance for the fourth quarter was a range of 0.71 to $0.73. The Wall Street consensus is $0.74.

Pluristem Therapeutics, Inc. (Nasdaq: PSTI) 6% HIGHER; that the Paul-Ehrlich-Institute (PEI), the medical regulatory body for biological medicinal products for the Federal Republic of Germany, has approved the company's request to initiate a Phase II study using PLX-PAD cells in patients suffering from Intermittent Claudication (IC). IC is a subset of Peripheral Artery Disease (PAD). According to The SAGE Group and HCUP 2007 Inpatient Data, the prevalence of IC in the United States is approximately 14 million patients, representing a cost of approximately $2.5 billion annually to the healthcare system.

SAP AG (NYSE: SAP) 5% LOWER; reported Q4 Non-IFRS operating profit of EUR1.96 billion, versus the consensus of EUR2 billion

InterMune, Inc. (Nasdaq: ITMN) 5% LOWER; announced that it plans to offer, subject to market and other conditions, $85.0 million aggregate principal amount of convertible senior notes due 2017 and 12,500,000 shares of its common stock in concurrent underwritten public offerings.

Agree Realty Corp. (NYSE: ADC) 5% LOWER; announced the commencement of a public offering of 1,300,000 shares of its common stock. The Company also expects to grant the underwriters a 30-day option to purchase up to an additional 195,000 shares of common stock to cover over-allotments, if any.

ARM Holdings (NASDAQ: ARMH) 4% LOWER; Morgan Stanley downgraded from Overweight to Equalweight and cut its price target to 911p

Solar Senior Capital Ltd. (Nasdaq: SUNS) 4% LOWER; has commenced a public offering of 2,000,000 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 300,000 shares of common stock.

Dell Inc. (NASDAQ: DELL) 4% HIGHER; continued 'take private' speculation.

Mellanox Technologies (NASDAQ: MLNX) 4% HIGHER; UBS upgraded from Neutral to Buy with a price target of $65.00 (from $56.00), saying downside is limited.

Glu Mobile, Inc. (NASDAQ: GLUU) 4% HIGHER; resumed with a Buy at Roth

RAIT Financial Trust (NYSE: RAS) 3% HIGHER; FBR Capital upgraded from Market Perform to Outperform with a price target of $8.00 (from $5.50), saying the company is officially "back in business."

United Continental (NYSE: UAL) 2% LOWER; downgraded at JPMorgan

Cliffs Natural Resources Inc. (NYSE: CLF) 2% LOWER; Dahlman Rose downgraded Cliffs Natural Resources from Hold to Sell, saying the sharp ramp in iron ore prices has run its course and they see risk of a quick reversal. CLF is the most vulnerable they said.

Shoe Carnival, Inc. (NASDAQ: SCVL) 2% LOWER; The Company expects fourth quarter net sales to be in the range of $212 to $214 million and EPS of $0.20 to $0.22, versus the consensus of $217 million and EPS of $0.21. For fiscal 2012, the Company expects net sales to be in the range of $861 to $863 million and EPS of $1.48 to $1.50, versus the consensus of $866.2 million and $1.50.

Chuy's Holdings, Inc. (Nasdaq: CHUY) 2% LOWER; filed to offer up to 4.5 million shares on behalf of selling shareholders. The company will not receive any proceeds from the offering.

Golub Capital BDC, Inc. (NASDAQ: GBDC) 2% LOWER; announced that it plans to make a public offering of 4,500,000 shares of its common stock.

MarkWest Energy Partners LP (NYSE: MWE) 2% LOWER; filed a registration with the U.S. SEC to sell, from time to time, up to 19,954,389 Common Units on behalf of Selling Unitholders.

Under Armour, Inc. (NYSE: UA) 2% LOWER; appears to be down in sympathy with lululemon.

Green Mountain Coffee (NASDAQ: GMCR) 2% HIGHER; upgraded at Argus

ARRIS Group, Inc. (NASDAQ: ARRS) 1% HIGHER; has entered into an agreement to sell approximately 10.6 million shares of its common stock, valued at $150.0 million, to Comcast Corporation (Nasdaq: CMCSA).


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