Special Reports

After-Hours Movers 12/03: LAVA, MRVL, FLOW, NX, AVGO Higher; TTWO, VSNT, SWHC, ZIOP, MENT, WES Lower Dec 3, 2009 06:02PM

Take-Two Interactive Software, Inc. (NASDAQ: TTWO) 20% LOWER; sees Q4 revs of $325-$350 million, versus the consensus of $371 million. Sees Non-GAAP EPS of $0.05-$0.10, versus the consensus of $0.33. Sees FY revs of $950-$975 million, versus the consensus of $995.1 million. Sees EPS of $(1.10) to $(1.15), versus the consensus of $(0.85). The Company expects to report a non-GAAP net loss per share for fiscal 2010 in the range of $0.40 to $0.60 on $1.0 billion to $1.2 billion in revenue. The consensus is $0.64 and $1.24 billion, respectively. Take-Two's preliminary forecast for the fiscal first quarter is for a non-GAAP net loss per share in the range of $(0.40) to $(0.50) on $210 million to $260 million in revenue. The consensus is $(0.26) and $244.2 million, respectively. Click here for the full report.

Versant Corporation (Nasdaq: VSNT) 10.5% LOWER; reports Q4 EPS of $0.45, compared to $0.59 in the same quarter last year. Revenue for the quarter was $4.1 million, versus $6 million in Q408. Versant's Board of Directors has approved a new stock repurchase program. Under the program, Versant is authorized to repurchase up to $5.0 million worth of its outstanding common shares from time to time on the open market, in block trades or otherwise. Sees FY10 sales unchanged from '09.

Magma Design Automation Inc. (Nasdaq: LAVA) 10.3% HIGHER; reports Q2 EPS of $0.03, 1 cent better than estimates. Revenues were $29.7 million vs. $28.88 million consensus. For Magma's fiscal 2010 third quarter, ending Jan. 31, 2010, the company expects total revenue in the range of $29.5 million to $30.0 million. non-GAAP earnings per share (EPS) are expected to be in the range of $0.02 to $0.03. (Consensus is $ 30.48M and $0.02, respectively)

Smith & Wesson Holding Corporation (NASDAQ: SWHC) 10% LOWER; reports Q2 adjusted EPS of $0.10, 1 cent better than the analyst estimate of $0.09. Revenue for the quarter was $108.8 million, which compares to the estimate of $104.90 million. Sees Q309 Sales $90 - $95 million, versus $104.7 million consensus.

ZIOPHARM Oncology, Inc. (NASDAQ: ZIOP) 10% LOWER; announced today that it intends to offer shares of its common stock and warrants to purchase shares of its common stock in a public offering. JMP Securities LLC and Rodman & Renshaw, LLC are acting as co-lead managers for the offering.

Mentor Graphics (NASDAQ: MENT) 7.7% LOWER; reports Q3 adjusted EPS of $0.05, 4 cents better than the analyst estimate of $0.01. Revenue for the quarter was $189.2 million, which compares to the estimate of $183.50 million. Q409 adjusted EPS $0.28, versus $0.32 consensus. Also sees sales $230 million, versus $234 million. And sees sales of $795 million, versus $794 million consensus.

Marvell Technology Group Ltd. (NASDAQ: MRVL) 5.7% HIGHER; reports Q3 EPS of $0.35, ex-items, 8 cents better than the analyst estimate of $0.27. Revenue for the quarter was $803.1 million, which compares to the estimate of $770 million.

Western Gas Partners, LP (NYSE: WES) 5.1% LOWER; announced a registered underwritten public offering of 6,000,000 common units representing limited partner interests. Western Gas Partners will grant the underwriters a 30-day option to purchase up to 900,000 additional common units. Net proceeds from the offering are expected to be used to repay amounts outstanding under the partnership's $350 million revolving credit facility. Any remaining net proceeds will be used for general partnership purposes, including capital expenditures and acquisitions.

Diamond Foods, Inc. (DMND) 4.1% LOWER; reports Q1 EPS of $0.88, 7 cents better than the analyst estimate of $0.81. Revenue for the quarter was $180.6 million, which compares to the estimate of $194.56 million. Sees Q210 EPS $0.42 - $0.46, versus $0.48 consensus. And sees sales 170 - $175 million, versus $155.17 million consensus.

Flow International Corp. (NASDAQ: FLOW) 3.2% HIGHER; reports Q2 EPS of $0.01, 3 cents better than the analyst estimate of ($0.02). Revenue for the quarter was $42 million, which compares to the estimate of $38.7 million.

Quanex (NYSE: NX) 3.1% HIGHER; reports Q4 EPS of $0.39, versus than the analyst estimate of $0.19. Revenue for the quarter was $194.9 million, which compares to the estimate of $179.40 million.

Avago Technologies Limited (NASDAQ: AVGO) 3% HIGHER; reports Q4 Non-GAAP EPS of $0.29, compared to $0.18 in the same quarter last year. Revenue for the quarter was $428 million, versus $447 million in Q308.

Novell Inc. (Nasdaq: NOVL) 3% LOWER; reports Q4 adj-EPS of $0.11, 4 cents better than the analyst estimate of $0.07. Revenue for the quarter was $216 million, which compares to the estimate of $215.69 million. Sees Q1 sales of $200-$210 million, versus the consensus of $214.20 million.

ArcSight, Inc. (Nasdaq: ARST) 3% LOWER; reports Q2 EPS of $0.15, 2 cents better than the analyst estimate of $0.13. Revenue for the quarter was $45.5 million, which compares to the estimate of $40.89 million. ArcSight sees Q4 EPS of $0.14-$0.17, versus the consensus of $0.16. Sees revs of $42-$46 million, versus the consensus of $43.3 million.

Liquidity Services, Inc. (Nasdaq: LQDT) 2.7% LOWER; reports Q4 EPS of $0.11, ex-items, 1 cent lower than the analyst estimate of $0.12. Revenue for the quarter was $62.9 million, which compares to the estimate of $59.28 million. Sees Q1 adj-EPS of $0.09-$0.11, versus the consensus of $0.08. Sees FY10 adj-EPS of $0.40-$0.48, which compares to the Street estimate of $0.48.

Activision Blizzard (NYSE: ATVI) 2.3% LOWER; moving on Take-Two news.

EasyLink Services International Corporation (NASDAQ: ESIC) 2.2% HIGHER; reports Q1 EPS of $0.04, versus the analyst estimate of $0.06. Revenue for the quarter was $20.5 million, which compares to the estimate of $20.87 million. Raises FY10 EPS to $0.27 - $0.32, from $0.25 - $0.30 prior. Consensus EPS is $0.28.

Electronic Arts (Nasdaq: ERTS) 1.5% HIGHER; moving on Take-Two news.

To get this report daily, visit http://www.streetinsider.com/entities/After-Hours+Movers.

Trading Radar for 12/4: Big Lots (BIG), Royal Bank of Canada (RY), Sirona Dental (SIRO) Report Dec 3, 2009 03:23PM

The Trading Radar highlights key earnings and economic announcements for tomorrow's trading session:

Before Market Opens:
Economics:
8:30am EST

• Nonfarm Payrolls - Street sees (125K)
  
  
• Unemployment Rate - Street sees 10.2%
  
  
• Average Workweek - Street sees 33.1
  
  
• Hourly Earnings - Street sees 0.2%

Earnings:

Royal Bank Of Canada (NYSE: RY) – consensus EPS $0.97
Sirona Dental Systems (NASDAQ: SIRO) – consensus EPS $0.51

Intraday or Not Specified:
Economics:
10:00am EST

• Factory Orders - Street sees 0.00%

Earnings:

Big Lots, Inc. (NYSE: BIG) – consensus EPS $0.18

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Unusual 11 Mid-Day Movers 12/03: ICOC, KTCC, CCRT, FFHL Higher; GRH, RSCR, ALOY, ARO Lower Dec 3, 2009 01:12PM

ICO, Inc. (NASDAQ: ICOC) 45.6% HIGHER; today announced the execution of a merger agreement with A. Schulman, Inc. (NASDAQ: SHLM). Terms of the deal are $3.67 in cash and $3.12 in A. Schulman (0.184 shares valued at the closing price on December 2, 2009). Also reported Q4 EPS of $0.06, even with the analyst estimate of $0.06. Revenue for the quarter was $ million, which compares to the estimate of $76.78 million.

Key Tronic Corp. (NASDAQ: KTCC) 29.4% HIGHER; updates guidance. The company sees Q210 revs of $42 - $44 million, versus $38 - $43 million prior. Also sees Q210 EPS of $0.10 - $0.13, up from $0.02 - $0.05 prior. There is no consensus for either estimate.

CompuCredit Holdings Corporation (NASDAQ: CCRT) 29.3% HIGHER; announced that it is considering a tax-free spin-off of its U.S. and U.K. micro-loan businesses into a publicly-traded company called Purpose Financial Holdings, Inc. The company also declared a $0.50 dividend which yields 20%.

Fuwei Films Co. Limited (NASDAQ: FFHL) 22.7% HIGHER; today announced that its wholly owned subsidiary -- Fuwei Films (Shandong) Co. Ltd. recently received RMB 10 million financial support in the form of a loan from the local Chinese government. Click here for the full report.

MGIC Investment Corporation (NYSE: MTG) 19.1% HIGHER; MGIC's principal subsidiary Mortgage Guaranty Insurance Corporation today announced that the Office of the Commissioner of Insurance for the State of Wisconsin has waived, until December 31, 2011, the requirement that MGIC maintain a specific level of minimum regulatory capital to write new mortgage guaranty policies. Click here to see the full report.

Oculus Innovative Sciences, Inc. (Nasdaq: OCLS) 18.6% HIGHER; today unveiled an expanded regulatory/commercial pipeline for its Microcyn-based products as preparation for the company's CEO and founder, Hoji Alimi, to provide even greater detail at the OneMedForum on January 12, 2010 in San Francisco. View the release to see full details.

GreenHunter (AMEX: GRH) 15.5% LOWER; profit taking today following a 88% rise over the last two trading sessions.

ResCare, Inc. (Nasdaq: RSCR) 15.4% LOWER; today reported that a jury in Albuquerque, New Mexico, has rendered a verdict of approximately $54 million in damages against the Company related to an incident that occurred five years ago in one of its group homes in the area.

Alloy Inc. (Nasdaq: ALOY) 14.1% LOWER; reports Q3 EPS of $0.31, compared to $0.65 in the same quarter last year. Revenue for the quarter was $60.8 million, versus $69.9 million in Q308. Sees FY09 sales of $198-$203 million.

Aeropostale, Inc. (NYSE: ARO) 11.1% LOWER; reports Q3 EPS of $0.92, 1 cent better than the analyst estimate of $0.91. Revenue for the quarter was $567.8 million, which compares to the estimate of $565.18 million. Sees Q4 EPS of $1.20-$1.24, versus the consensus of $1.22.

The Children's Place Retail Stores, Inc. (Nasdaq: PLCE) 10.8% LOWER; Nov. comparable store sales declined 13% in the U.S. and declined 18% in Canada, while online sales declined 2%. The company reported net sales of $143.3 million for the four-week period ended November 28, 2009, a decrease of 9%.

To get this report daily visit http://www.streetinsider.com/entities/Unusual+11+Mid-Day+Movers.

Notable Analyst Rating Changes 12/03: BAC, BKD, AVB, THC, RIG Upgraded; KIM, GENZ, REG, TCK Downgraded Dec 3, 2009 12:56PM

UPGRADES:
FBR Capital is upgrading Bank of America (NYSE: BAC) to Outperform and raised their price target from $15 to $20. For more color, Click Here. Calyon’s Mike Mayo also upgraded Bank of America from Underperform to Outperform. Click Here for more color from Mike Mayo.

Goldman Sachs upgraded U.S. REITs to Neutral. The firm also upgraded several individual REITs:

• Brookdale Senior Living (NYSE: BKD) from Neutral to Buy;
  
  
• Avalon Bay Communities Inc. (NYSE: AVB) from Sell to Neutral; and
  
  General Growth Properities (NASDAQ: GGWPQ) from Sell to Neutral.

Broadpoint.Amtech upgrades Cisco (NASDAQ: CSCO) from Neutral to Buy. Click Here for more color.

Soleil Securities upgrades Tenet Healthcare (NYSE: THC) from Hold to Buy. Price target $6.25. Click Here for more color.

UBS upgrades Goldcorp (NYSE: GG) from Neutral to Buy. Price target increased from $49 to $53.

Calyon Securities upgrades Transocean (NYSE: RIG) from Outperform to Buy.

UBS upgrades Assured Guaranty (NYSE: AGO) from Neutral to Buy, also raising its stake from $20 to $28.

For daily real-time Upgrades go to http://www.streetinsider.com/Upgrades

DOWNGRADES:
Goldman Sachs downgraded Kimco Realty Corp. (NYSE: KIM) from Buy to Neutral

Collins Stewart downgrades Genzyme (Nasdaq: GENZ) from Buy to Hold, price target lowered from $60 to $55. Click Here for more color.

Wells Fargo downgrades Regency Centers (NYSE: REG) from Outperform to Market Perform. Click Here for more color.

RBC Capital downgrades Teck Resources Limited (NYSE: TCK) from Outperform to Sector Perform.

For daily real-time Downgrades go to http://www.streetinsider.com/Downgrades

NEW COVERAGE:
Jesup & Lamont initiated coverage of Apple (NASDAQ: AAPL) this morning, placing a Buy rating and $240 price target on the stock. Click Here for more color.

Sandler O’Neill initiated coverage on several Mortgage Investment/REIT Stocks. Started with a Hold rating are:

• American Capital Agency Corp. (NASDAQ: AGNC), price target of $28;
  
  
• Capstead Mortgage Corp. (NYSE: CMO), price target $14.50;
  
  
• Hatteras Financial (NYSE: HTS), price target of $31; and
  
  
• MFA Financial (NYSE: MFA), price target $8.

Started with a Buy rating are:

• Annaly Capital Management (NYSE: NLY), price target $21; and
  
  
• Anworth Mortgage Asset Co. (NYSE: ANH), price target of $8.50.

Wells Fargo resumes coverage on Sprint-Nextel (NYSE: S) with a Market Perform rating. Valuation range $3.30-4.20. Click Here for more color.

Deutsche Bank initiates coverage on DryShips (NASDAQ: DRYS) with a Buy rating and $10 price target

Global Hunter Securities initiates coverage of Novavax (Nasdaq: NVAX) with a Buy rating. Price target $7.25. Click Here for more color.

For daily real-time New Coverage go to http://www.streetinsider.com/New+Coverage

Notable Midday ETF Movers 12/3: EWJ, TUR Up; UNG, OIH, GDX Down Dec 3, 2009 12:55PM

HIGHER;

• iShares MSCI Japan Index (NYSE: EWJ) up 1.52% to $10.00. The Nikkei 225 closed up 3.8% yesterday as the Yen continued weakening versus other foreign currencies.
  
  
• iShares MSCI Turkey Invest Mkt Index (NYSE: TUR) is up 5% to $51.81, and the ETF has seen gains of about 13% since market close November 27, 2009. Turkey is benefitting from a stronger banking system, and Fitch Rating’s recently boosted Turkey’s credit rating two notches to BB+.

LOWER:

• United States Natural Gas (NYSE: UNG) down 2.07% to $8.52. Weather forecasts and continuous storage increases will probably dampen this ETF through the end of 2009.
  
  
• Oil Services HOLDRs (NYSE: OIH) down 1.31% to $117.02. Oil sector taking a little hit as the dollar gains a little ground with investors.
  
  
• Market Vectors Gold Miners ETF (NYSE: GDX) down 1.84% to $53.77. Gold lower after hitting a high of $1227.50 on European Central Bank President Jean-Claude Trichet’s sentiments of supporting a stronger dollar. Even with that news, gold futures are trading higher in early afternoon hours.