Unusual 11 Mid-Day Movers: FMD, RESP, N Higher; GTOP, JBL Lower
Genitope Corporation (NASDAQ: GTOP) 65% LOWER; announced that its pivotal Phase 3 clinical trial examining the use of MyVax personalized immunotherapy in previously untreated follicular B-cell non-Hodgkin’s lymphoma patients did not meet its primary endpoint.
First Marblehead Corp. (NYSE: FMD) 51% HIGHER; The First Marblehead Corporation (NYSE: FMD) entered into a definitive agreement with GS Capital Partners pursuant to which GSCP will invest up to $260.5 million equal to 19.99% of the shares currently outstanding upon closing of the transaction. In conjunction with this strategic equity investment, Goldman Sachs has committed to offer the Company a $1 billion warehouse facility that will allow the Company to access a new source of funding for its business. This is a first step in utilizing other funding alternatives to further diversify and strengthen the Company's business model.
Circuit City Stores Inc. (NYSE: CC) 24% LOWER; reports Q3 adjusted loss of $0.64, versus the consensus of a $0.31 loss. Revenues came in at $2.96 billion, versus the consensus of $3 billion. In the third quarter of fiscal 2008, the company recorded a non-cash tax expense of $102.8 million to establish a full valuation allowance against its deferred tax assets in the domestic segment.
Respironics (Nasdaq: RESP) 23% HIGHER; has entered into a definitive merger agreement pursuant to which Royal Philips Electronics (NYSE: PHG) (Philips) will commence a tender offer to acquire all of the outstanding shares of Respironics for USD $66.00 in cash per share, or a total purchase price of approximately USD 5.1 billion.
Jabil Circuit, Inc. (NYSE: JBL) 20.6% LOWER; reported Q3 EPS of $0.36, in-line with the analyst estimate of $0.36. Revenues for the quarter were $3.4 billion, versus the consensus of $3.3 billion. Expects Q2 EPS of $0.16 to $0.20, versus the consensus of $0.31. Q2 revenues are expected to be $3 to $3.1 billion, versus the consensus of $3.15 billion. FY08 EPS are expected to be in the range of $1.20 to $1.50, versus the consensus of $1.50. FY08 revenues are expected to be $13 to $13.4 billion, versus the consensus of $13.35 billion.
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NetSuite (NYSE: N) 18.6% HIGHER; continues to see upside after gaining 36% in the last half of yesterday's trading day, the Company's debut as a publicly traded company.
Deerfield Capital (NYSE: DFR) 16.2% HIGHER; Triac has completed the sale of Deerfield today.
ResMed (NYSE: RMD) 13% HIGHER; is rallying on news that a top competitor Respironics will be acquired.
Brush Engineered Materials Inc. (NYSE: BW) 12.9% LOWER; comments on Q4 outlook. The company said, "The impact of the softer than expected demand and lower ruthenium prices is currently expected to be more than offset by the litigation settlement. The softer demand may affect earnings by up to $0.15 per share in the fourth quarter while the lower ruthenium prices may result in a non-cash charge of up to $0.05 per share. The litigation settlement favorably affects earnings by approximately $0.25 per share. As a result, fourth quarter earnings are currently expected to be within the previously announced range of $0.50 to $0.60 per share." The Wall Street consensus is $0.54.
Research In Motion Limited (Nasdaq: RIMM) 11.2% HIGHER; reported Q3 EPS of $0.65, 3 cents better than the analyst estimate of $0.62. Revenues for the quarter were $1.67 billion, versus the consensus of $1.65 billion. Sees Q4 EPS $0.66 to $0.70, versus the consensus of $0.65. Q4 revenues of $1.8 to $1.87 billion, versus the consensus $1.75 billion.
Celgene Corp. (Nasdaq: CELG) 8% LOWER; may be experiencing a correction after yesterday's nearly $4 rise.
First Marblehead Corp. (NYSE: FMD) 51% HIGHER; The First Marblehead Corporation (NYSE: FMD) entered into a definitive agreement with GS Capital Partners pursuant to which GSCP will invest up to $260.5 million equal to 19.99% of the shares currently outstanding upon closing of the transaction. In conjunction with this strategic equity investment, Goldman Sachs has committed to offer the Company a $1 billion warehouse facility that will allow the Company to access a new source of funding for its business. This is a first step in utilizing other funding alternatives to further diversify and strengthen the Company's business model.
Circuit City Stores Inc. (NYSE: CC) 24% LOWER; reports Q3 adjusted loss of $0.64, versus the consensus of a $0.31 loss. Revenues came in at $2.96 billion, versus the consensus of $3 billion. In the third quarter of fiscal 2008, the company recorded a non-cash tax expense of $102.8 million to establish a full valuation allowance against its deferred tax assets in the domestic segment.
Respironics (Nasdaq: RESP) 23% HIGHER; has entered into a definitive merger agreement pursuant to which Royal Philips Electronics (NYSE: PHG) (Philips) will commence a tender offer to acquire all of the outstanding shares of Respironics for USD $66.00 in cash per share, or a total purchase price of approximately USD 5.1 billion.
Jabil Circuit, Inc. (NYSE: JBL) 20.6% LOWER; reported Q3 EPS of $0.36, in-line with the analyst estimate of $0.36. Revenues for the quarter were $3.4 billion, versus the consensus of $3.3 billion. Expects Q2 EPS of $0.16 to $0.20, versus the consensus of $0.31. Q2 revenues are expected to be $3 to $3.1 billion, versus the consensus of $3.15 billion. FY08 EPS are expected to be in the range of $1.20 to $1.50, versus the consensus of $1.50. FY08 revenues are expected to be $13 to $13.4 billion, versus the consensus of $13.35 billion.
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NetSuite (NYSE: N) 18.6% HIGHER; continues to see upside after gaining 36% in the last half of yesterday's trading day, the Company's debut as a publicly traded company.
Deerfield Capital (NYSE: DFR) 16.2% HIGHER; Triac has completed the sale of Deerfield today.
ResMed (NYSE: RMD) 13% HIGHER; is rallying on news that a top competitor Respironics will be acquired.
Brush Engineered Materials Inc. (NYSE: BW) 12.9% LOWER; comments on Q4 outlook. The company said, "The impact of the softer than expected demand and lower ruthenium prices is currently expected to be more than offset by the litigation settlement. The softer demand may affect earnings by up to $0.15 per share in the fourth quarter while the lower ruthenium prices may result in a non-cash charge of up to $0.05 per share. The litigation settlement favorably affects earnings by approximately $0.25 per share. As a result, fourth quarter earnings are currently expected to be within the previously announced range of $0.50 to $0.60 per share." The Wall Street consensus is $0.54.
Research In Motion Limited (Nasdaq: RIMM) 11.2% HIGHER; reported Q3 EPS of $0.65, 3 cents better than the analyst estimate of $0.62. Revenues for the quarter were $1.67 billion, versus the consensus of $1.65 billion. Sees Q4 EPS $0.66 to $0.70, versus the consensus of $0.65. Q4 revenues of $1.8 to $1.87 billion, versus the consensus $1.75 billion.
Celgene Corp. (Nasdaq: CELG) 8% LOWER; may be experiencing a correction after yesterday's nearly $4 rise.
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