StreetInsider.com Pre-Open Movers 07/16
StreetInsider.com Pre-Open Movers:
DJO Incorporated (NYSE: DJO) 16.86% HIGHER; announced the signing of an agreement and plan of merger under which an affiliate of ReAble will acquire all outstanding shares of DJO in a transaction valued at approximately $1.6 billion, including the assumption of debt. The agreement provides for a cash payment of $50.25 per share for each outstanding share of DJO common stock. Share of DJO closed at $42.10 on Friday.
Syntax-Brillian Corporation (Nasdaq: BRLC) 16% HIGHER; sees within its $190 million to $210 million guidance range. The company is raising their revenue outlook for the calendar year ending December 31, 2007 from their previous range of $950 million to $1.1 billion to a revised range of $1.1 billion to $1.3 billion.
Hudson Highland Group, Inc. (Nasdaq: HHGP) 9.8% LOWER; expects to report EBITDA in the middle of its guidance range of $12.5-13.5 million, excluding an additional $1.5 million charge for its 2006 restructuring program, for the second quarter of 2007. The company also expects to report second quarter revenue between $348-$350 million, below its prior guidance of $355-$370 million. In addition, the company expects to report a gross margin dollar increase of approximately 7 percent over the prior year period.
Force Protection Inc. (Nasdaq: FRPT) 8% LOWER; Armor Holdings (NYSE: AH) wins $519M MRAP Contract
Rediff.com India Ltd. (Nasdaq: REDF) 4% HIGHER: Rumors the company could be a buyout target of a US-based Internet company. Also, a weekend Barron's article highlighted the extremely high valuation of Rediff.com.
Eaton (NYSE: ETN) 3.8% HIGHER; reports Q2 earnings of $1.70 per share, ex-items, above the consensus of $1.47. Sees Q3 EPS of $1.60-$1.70 versus the consensus of $1.61. Sees FY07 EPS of $6.75-$6.95, versus previous guidance of $6.45-$6.65 and the consensus of $6.44.
Applebee's International, Inc. (NASDAQ: APPB) 1.9% HIGHER; IHOP Corp. (NYSE: IHP) and Applebee's announced a definitive agreement under which IHOP Corp. will acquire Applebee's for $25.50 per share in cash, representing a total transaction value of approximately $2.1 billion. Shares of Applebee's, which has been reviewing bids, closed at $24.38 on Friday.
McDonald's (NYSE: MCD) 1.5% HIGHER; said global comparable sales rose 8.4% in June and 7.4% in the second quarter.
Verizon Communications (NYSE: VZ) 1% HIGHER; Rumors Vodafone (NYSE: VOD) was mulling a $160B takeover of Verizon. Vodafone said it has no such plans.
Motorola Inc. (NYSE: MOT) 1% HIGHER; Deutsche Bank upgrades to Buy
Target (NYSE: TGT) 1% HIGHER; William Ackman's Pershing Square Capital disclosed a 9.6% stake (81,761,411 shares, including call options) in the company.
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