Unusual 11 Mid-Day Movers 11/05: RDN, SUPG, HDSN, KNDL Higher; GGP, ADEP, ABK, ITWO Lower

November 5, 2008 1:45 PM EST

General Growth Properties, Inc. (NYSE: GGP) 43.2% LOWER; reports Q3 FFO of $0.64, versus the analyst estimate of $0.76. Sees FY08 FFO of $2.85-$2.95, versus the consensus of $3.31.

Radian Group Inc. (NYSE: RDN) 34.3% HIGHER; reports Q3 EPS of $0.46, which does not compare to the analyst estimate of ($1.93).

SuperGen (Nasdaq: SUPG) 33.8% HIGHER; reports Q3 loss of $0.01, 10 cents better than the analyst estimate of ($0.11). Revenue for the quarter was $10.2 million, versus the consensus of $8.65 million. The Company has revised its royalty revenue upward from previous guidance for 2008 to range from $33 million to $36 million. The Company recognizes royalty revenue on a cash basis when it is received. The Company has reduced its anticipated milestone receipts relating to the sale of products to Mayne Pharma to $1.8 million for 2008. Research and development expenses for 2008 have been revised downward and are expected to total approximately $33 million to $35 million.

Adept Technology, Inc. (Nasdaq: ADEP) 33.3% LOWER; reports Q1 loss of $0.20, which may not compare to the analyst estimate of $0.08. Revenue for the quarter was $14.32 million, compared to $13.65 million in the same quarter last year. Sees FY09 sales of $55-$61 million, versus the consensus of $70.49 million.

Ambac Financial Group, Inc. (NYSE: ABK) 31.8% LOWER; reports Q3 loss from operations of $7.81, which does not compare to the analyst estimate of ($0.50).

i2 Technologies, Inc. (NASDAQ: ITWO) 28.2% LOWER; today announced that JDA Software Group (NASDAQ: JDAS) requested that i2 adjourn its shareholder meeting to allow the two companies to negotiate a reduced purchase price to close the merger. JDA notified i2 Technologies that due to the adverse effect of the continuing credit crisis, available credit terms would result in unacceptable risks and costs to the combined company. In August, JDA announced an agreement to acquire i2 for $14.86 per share in cash. With today's decline, i2 is currently trading at $10.53. Yesterday's close of $14.60 indicated that merger arbs expected this deal to close no problem.

Hudson Technologies, Inc. (NASDAQ: HDSN) 26.1% HIGHER; reports Q3 EPS of $0.14, versus $0.02 in the same quarter last year. Revenue for the quarter was $5.84 million, compared to $4.738 million in Q307.

SunPower Corporation (Nasdaq: SPWRA) 23.5% LOWER; now expects Q4 non-GAAP EPS of $0.58-$0.65, versus the consensus of $0.75. SunPower sees Q4 revenues of $388-$418 million, versus the consensus of $418.2 million. For 2009, SunPower now expects EPS of 'at least' $3.00, below the consensus of $3.49. The company expects revenues for 2009 of $2-$2.1 billion, versus the consensus of $2.06 billion.

Kendle (Nasdaq: KNDL) 20.4% HIGHER; reports Q3 EPS of $0.55, ex-items, 1 cent lower than the analyst estimate of $0.56. Revenue for the quarter was $124.8 million, versus the consensus of $125.93 million. Raises its FY08 EPS guidance from $2.00-$2.15 to $2.10-$2.25, versus the consensus of $2.04. Revs for the year go from $490-$500 million to $485-$500 million, versus the Street estimate of $493.68 million.

Blount International, Inc. (NYSE: BLT) 20% HIGHER; reports Q3 EPS of $0.31, 11 cents better than the analyst estimate of $0.20. Revenue for the quarter was $175 million, versus the consensus of $157.29 million. Sees FY08 sales of $610-$615 million, versus the consensus of $604.42 million.

Dollar Thrifty Automotive Group, Inc. (NYSE: DTG) 20% HIGHER; reports Q3 non-GAAP EPS of $0.89, versus the analyst estimate of $0.60. Revenue for the quarter was $500.6 million, versus the consensus of $504.15 million.

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

Related Categories

Special Reports

Stocks Mentioned

Related Entities

• Unusual 11 Mid-Day Movers

Add Your Comment

Name

Subject

Body

Verification can't see the text?
click here to refresh the image.
what's this?