StreetInsider.com Pre-Open Movers 03/02
StreetInsider.com Pre-Open Movers
Bristol West Holdings, Inc. (NYSE: BRW) 34% HIGHER; agreed to be acquired by Farmers Group, Inc. (FGI), a wholly-owned subsidiary of Zurich Financial Services Group. Under the terms of the agreements, the holders of BRW common stock will receive $22.50 per share in cash for their shares, which represents a 38.8% premium above the March 1, 2007 closing price of $16.21. The transaction is valued at $712 million, excluding the assumption of certain debt obligations of BRW pursuant to the acquisition, and exclusive of fees.
Immersion Corporation, (Nasdaq: IMMR) 27% HIGHER; the company Sony Computer Entertainment announced the companies have agreed to conclude their patent litigation at the U.S. Court of Appeals for the Federal Circuit and have entered into a new business agreement to explore the inclusion of Immersion technology in PlayStation format products. Reports Q4 results
Dendrite International, Inc. (NASDAQ: DRTE) 22.3% HIGHER; CEGEDIM S.A. and Dendrite International announced a definitive merger agreement under which CEGEDIM will acquire Dendrite for $16.00 per outstanding share in cash.
Dean Foods Company (NYSE: DF) 10.8% HIGHER; plans to return $15.00 per share to shareholders through a one-time special cash dividend totaling approximately $2 billion. The special dividend will be financed by a recapitalization of the Company's balance sheet through $4.8 billion in new senior secured credit facilities.
SuperGen Inc. (Nasdaq: SUPG) 9% HIGHER; highlighted in BusinessWeek
Accredited Home Lenders Holding Co. (Nasdaq: LEND) 7% LOWER; Countrywide said payments were late on 19% of subprime mortgage loans, up from 15.2% at the end of 2005 and 11.3% at the end of 2004 - WSJ
Credence (Nasdaq: CMOS) 5% LOWER; reports Q1 EPS of $0.00 vs. consensus of $0.04 - may not be comparable. Revenues were $118.8 million vs. $120.54 million consensus. Sees Q2 EPS revenues between $115-118 million vs. $119.5 million consensus. Sees Q2 EPS between a loss of $0.05-0.06 vs. consensus for a profit of $0.04.
OmniVision (Nasdaq: OVTI) 5% LOWER; reports Q3 EPS of $0.20 (ex-items), 1 cent better than estimates.(0.19) Revenues were $134.4 million vs. $138.66 million consensus. Sees Q4 EPS between a loss of $0.06 and profit of $0.02 vs. consensus of $0.16 profit. Sees Q4 revenues between $100-110 million vs. $130.3 million consensus.
Altair Nanotechnologies Inc. (Nasdaq: ALTI) 4.5% HIGHER; highlighted in BusinessWeek
New Century Financial Corp. (NYSE: NEW) 3.6% LOWER; Countrywide said payments were late on 19% of subprime mortgage loans, up from 15.2% at the end of 2005 and 11.3% at the end of 2004 - WSJ
KongZhong (Nasdaq: KONG) 3.5% LOWER; reports Q4 EPS of $0.10 (adjusted $0.12) vs. consensus of $0.08. Revenues were $23.7 million vs. $20.98 million consensus. Sees Q1 revenues between $20-21 million vs. $21.6 million consensus.
VIVUS, Inc. (NASDAQ: VVUS) 3% HIGHER; reports a Q4 loss o f $0.02, 7 cents better than estimates. Revenues were $8.3 million vs. $6.10 million consensus.
Novell (Nasdaq: NOVL) 2.8% LOWER; reports a Q1 loss of $0.01 (ex-items), 2 cents worse than estimates.(0.01) Revenues were $230 million vs. $233.95 million consensus. Sees FY revenues between $945-975 million vs. $964.6 million consensus. Sees FY adjusted income between breakeven and $10 milllion.
Syntax-Brillian Corporation (Nasdaq: BRLC) 2.4% HIGHER; Cantor Fitzgerald starts at Buy
Methode Electronics (Nasdaq: METH) INDICATED HIGHER; reports Q3 earnings of $0.13, $0.18 ex-items, versus the consensus of $0.09. Revenues came in at $105.4 million versus the consensus of $100.7 million. Sees EPS of $0.52-$0.61 versus the consensus of $0.47. Sees FY07 revs of $430-$440 million versus the consensus of $424.86 million
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