Pre-Open Movers 11/21: (MEMS) (CRUS) (VELT) Higher; (SCHL) (TLYS) (DE) Lower (more...)

November 21, 2012 9:32 AM EST
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MEMSIC, Inc. (Nasdaq: MEMS) 82% HIGHER; received an unsolicited, non-binding proposal from IDG-Accel China Growth Fund II L.P., for itself and on behalf of its affiliated funds and certain nominees (collectively, "IDG"), to acquire all outstanding shares of common stock of MEMSIC not currently owned by IDG or its affiliates for cash in the amount of $4.00 per share.

NTS Realty Holdings Limited Partnership (AMEX: NLP) 39% HIGHER; announced that the special committee of the board of directors of the Company's managing general partner, NTS Realty Capital, Inc. (the "Special Committee"), has received a letter (the "Letter") from the Company's founder and Chairman, Mr. J.D. Nichols, and its Chief Executive Officer, Mr. Brian F. Lavin (collectively, the "Offerors") revising the non-binding proposal from the Offerors for a going private transaction (the "Proposal"). The Letter increased the proposed purchase price per limited partnership unit contained in the Proposal to $7.30 in response to the Special Committee's rejection of the $5.25 purchase price set forth in the Proposal.

Scholastic Corporation (NASDAQ: SCHL) 22% LOWER; revised its earnings guidance for the fiscal year ending May 31, 2013. The Company now expects earnings from continuing operations to be in the range of $1.40 to $1.60 per diluted share on revenues of approximately $1.8 to $1.9 billion, compared to the prior guidance of a range of $2.20 to $2.40 per diluted share on revenues of approximately $1.9 to $2.0 billion. The earnings guidance excludes the impact of any one-time items associated with cost reduction programs and non-cash, non-operating items. Free cash flow for the fiscal year is now expected to be in the range of $100 to $120 million. The Street sees EPS of $2.27 and revs of $1.94 billion.

Tillys (NYSE: TLYS) 19% LOWER; reported Q3 EPS of $0.30, in-line with the analyst estimate of $0.30. Revenue for the quarter came in at $124.9 million versus the consensus estimate of $128.66 million. Tillys sees Q42012 adjusted EPS of $0.30-0.32, versus the consensus of $0.35. Tilly's sees FY2012 adjusted EPS of $0.88 to $0.91, versus the consensus of $0.92.

Velti plc (Nasdaq: VELT) 7% HIGHER; announced that certain members of it board of directors, including the CEO and the COO, have purchased ordinary shares of the Company on the open market, at an aggregate value of over $1.5 million.

Sarepta Therapeutics, Inc. (NASDAQ: SRPT) 6% HIGHER; positive comments at Piper Jaffray

Cirrus Logic, Inc. (Nasdaq: CRUS) 6% HIGHER; announced that its Board of Directors has authorized the repurchase of up to $200 million of the company’s common stock

Amira Nature Foods Ltd (NYSE: ANFI) 6% HIGHER; reported Q2 EPS of $0.09, versus $0.02 reported last year. Revenue for the quarter came in at $79.4 million, versus $61.7 million reported last year. CFO Resigns.

XOMA Corporation (Nasdaq: XOMA) 6% HIGHER; announced the 837-patient Phase 3 PATH trial (Perindopril Amlodipine for the Treatment of Hypertension) has demonstrated the fixed-dose combination (FDC) of perindopril arginine combined with amlodipine besylate is statistically significantly superior to either compound alone in reducing both sitting diastolic and sitting systolic blood pressure after six weeks of treatment. This FDC, containing a patent-protected proprietary form of perindopril, was licensed by XOMA as part of a U.S. commercial and development rights agreement signed with Servier for their perindopril franchise. Servier markets the fixed-dose combination product, COVERAM®, in 91 countries outside the U.S.

Sequenom, Inc. (NASDAQ: SQNM) 6% HIGHER; the American College of Obstetricians and Gynecologists (ACOG) Committee on Genetics and the Society for Maternal-Fetal Medicine (SMFM) Publications Committee issued a joint Committee Opinion on November 20, 2012, recommending that cell-free fetal DNA testing be offered to patients at increased risk of aneuploidy. It can also be used as a follow-up test for women with a positive first-trimester or second-trimester screening test result

MIPS Technologies, Inc. (Nasdaq: MIPS) 5% HIGHER; received an unsolicited proposal from CEVA, Inc. (Nasdaq: CEVA) to acquire all of the outstanding MIPS shares, following the consummation of the proposed patent sale transaction with Bridge Crossing, LLC and the proposed recapitalization, for $75 million (U.S.) in cash. CEVA's proposal is subject to the approval of its board of directors and a brief period of confirmatory due diligence.

Deere & Co. (NYSE: DE) 3% LOWER; reported Q4 EPS of $1.75, $0.13 worse than the analyst estimate of $1.88. Revenue for the quarter came in at $9.79 billion versus the consensus estimate of $8.85 billion.

Heartware International Inc. (NASDAQ: HTWR) 3% LOWER; multiple downgrades despite FDA approval., Inc. (NYSE: CRM) 2% HIGHER; reported Q3 EPS of $0.33, $0.01 better than the analyst estimate of $0.32. Revenue for the quarter came in at $788 million versus the consensus estimate of $776.52 million., Inc. sees FY2012 EPS of $0.38-0.40, versus the consensus of $0.40., Inc. sees FY2012 revenue of $825-830 million, versus the consensus of $829.88 million., Inc. sees FY2014 revenue of $3.80-3.85 billion, versus the consensus of $3.83 billion., Inc. sees FY2013 EPS of $1.50-1.52, versus the consensus of $1.50., Inc. sees FY2013 revenue of $3.041-3.046 billion, versus the consensus of $3.03 billion.

Chipotle Mexican Grill, Inc. (NYSE: CMG) 2% HIGHER; announced it has added an additional $100 million to the existing $100 million repurchase plan previously announced on October 18, 2012. The company has repurchased about $40 million through November 19th under the previously-announced $100 million buyback.

Charter Communications, Inc. (NASDAQ: CHTR) 2% LOWER; announced that selling stockholders, funds affiliated with Apollo have agreed to sell approximately 3.1 million shares of Charter common stock in an underwritten offering. Charter will not sell any shares in the offering and will not receive any proceeds from the offering. Citigroup and Credit Suisse Securities (USA) LLC will act as underwriters for the offering.

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