Unusual 11 Mid-Day Movers 10/23: JUPM, SPAR, VDSI, AGP Higher; PRSC, LVLT, CDNS, CNB Lower
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The Providence Service Corporation (Nasdaq: PRSC) 72.2% LOWER; announced that despite a recent notice of award in South Carolina and an acquisition announced today in Georgia, the Company's financial results and ability to forecast earnings continue to be challenged by a number of external factors. Sees Q3 EPS being reduced by $0.18 due to negative transportation trends and a $90-$120 million charge in Q3 related to a goodwill impairment analysis of the LogistiCare deal.
Level 3 Communications, Inc. (Nasdaq: LVLT) 49.6% LOWER; reports Q3 loss of $0.08, 1 cent better than the analyst estimate of ($0.09). Revenues for the quarter were $1.07 billion, versus the consensus of $1.07 billion.
Cadence Design Systems, Inc. (NASDAQ: CDNS) 42% LOWER; announced that it is reviewing, in conjunction with the company's independent accountants and legal advisors, the recognition of revenue related to customer contracts signed during Q108. Cadence expects to restate its financial statements for Q108 and 1H08 to correct the revenue recognition with respect to these contracts.
Colonial Bank (NYSE: CNB) 37.7% LOWER; reports Q3 loss of $0.35, which does not compare to the analyst estimate of $0.25. Suspends its quarterly dividend.
Jupitermedia Corporation (Nasdaq: JUPM) 32.3% HIGHER; entered into a definitive stock purchase agreement to sell its Online Images business to Getty Images, Inc. for an aggregate purchase price of $96 million in cash.
Spartan Motors Inc. (Nasdaq: SPAR) 29.6% HIGHER; reports Q3 EPS of $0.45, 25 cents better than the analyst estimate of $0.20. Revenues for the quarter were $237.5 million, versus the consensus of $174.5 million.
ANADIGICS, Inc. (Nasdaq: ANAD) 27% LOWER; reports Q3 EPS of $0.00, in-line with the analyst estimate of $0.00. Revenues for the quarter were $58.1 million, versus the consensus of $62.75 million. Sees Q4 loss of $0.12-$0.14, versus the consensus for a profit of $0.02 and sales of $44-$46 million, versus the Street estimate of $65 million.
VASCO Data Security International, Inc. (Nasdaq: VDSI) 25.6% HIGHER; reports Q3 EPS of $0.24, 8 cents better than the analyst estimate of $0.16. Revenues for the quarter were $39.7 million, versus the consensus of $36.86 million. Reaffirms FY08 outlook.
AMERIGROUP Corporation (NYSE: AGP) 19.6% HIGHER; reports Q3 EPS of $0.74, versus the analyst estimate of $0.51. Revenues for the quarter were $1.12 billion, versus the consensus of $1.13 billion. Sees FY EPS of $2.50-$2.65, versus the consensus of $2.50.
iRobot Corp. (Nasdaq: IRBT) 15% HIGHER; reports Q3 EPS of $0.15, 6 cents better than the analyst estimate of $0.09. Revenues for the quarter were $92.4 million, versus the consensus of $74.8 million. Sees FY08 EPS of $0.08-$0.10, versus the consensus of $0.14 and sales of $310-$315 million, versus the consensus of $394.5 million.
Chipotle Mexican Grill, Inc. (NYSE: CMG) 12.6% HIGHER; reports Q3 EPS of $0.59, in-line with the analyst estimate of $0.59. Revenues for the quarter were $340.5 million, versus the consensus of $340.04 million. Announces $100 million buyback. Sees FY09 comps up low single digits.
Level 3 Communications, Inc. (Nasdaq: LVLT) 49.6% LOWER; reports Q3 loss of $0.08, 1 cent better than the analyst estimate of ($0.09). Revenues for the quarter were $1.07 billion, versus the consensus of $1.07 billion.
Cadence Design Systems, Inc. (NASDAQ: CDNS) 42% LOWER; announced that it is reviewing, in conjunction with the company's independent accountants and legal advisors, the recognition of revenue related to customer contracts signed during Q108. Cadence expects to restate its financial statements for Q108 and 1H08 to correct the revenue recognition with respect to these contracts.
Colonial Bank (NYSE: CNB) 37.7% LOWER; reports Q3 loss of $0.35, which does not compare to the analyst estimate of $0.25. Suspends its quarterly dividend.
Jupitermedia Corporation (Nasdaq: JUPM) 32.3% HIGHER; entered into a definitive stock purchase agreement to sell its Online Images business to Getty Images, Inc. for an aggregate purchase price of $96 million in cash.
Spartan Motors Inc. (Nasdaq: SPAR) 29.6% HIGHER; reports Q3 EPS of $0.45, 25 cents better than the analyst estimate of $0.20. Revenues for the quarter were $237.5 million, versus the consensus of $174.5 million.
ANADIGICS, Inc. (Nasdaq: ANAD) 27% LOWER; reports Q3 EPS of $0.00, in-line with the analyst estimate of $0.00. Revenues for the quarter were $58.1 million, versus the consensus of $62.75 million. Sees Q4 loss of $0.12-$0.14, versus the consensus for a profit of $0.02 and sales of $44-$46 million, versus the Street estimate of $65 million.
VASCO Data Security International, Inc. (Nasdaq: VDSI) 25.6% HIGHER; reports Q3 EPS of $0.24, 8 cents better than the analyst estimate of $0.16. Revenues for the quarter were $39.7 million, versus the consensus of $36.86 million. Reaffirms FY08 outlook.
AMERIGROUP Corporation (NYSE: AGP) 19.6% HIGHER; reports Q3 EPS of $0.74, versus the analyst estimate of $0.51. Revenues for the quarter were $1.12 billion, versus the consensus of $1.13 billion. Sees FY EPS of $2.50-$2.65, versus the consensus of $2.50.
iRobot Corp. (Nasdaq: IRBT) 15% HIGHER; reports Q3 EPS of $0.15, 6 cents better than the analyst estimate of $0.09. Revenues for the quarter were $92.4 million, versus the consensus of $74.8 million. Sees FY08 EPS of $0.08-$0.10, versus the consensus of $0.14 and sales of $310-$315 million, versus the consensus of $394.5 million.
Chipotle Mexican Grill, Inc. (NYSE: CMG) 12.6% HIGHER; reports Q3 EPS of $0.59, in-line with the analyst estimate of $0.59. Revenues for the quarter were $340.5 million, versus the consensus of $340.04 million. Announces $100 million buyback. Sees FY09 comps up low single digits.
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