Unusual 11 Mid-Day Movers 11/20: PERY, PALM, GYMB, NED Higher; TARG, PAY, EGLE, KWK Lower
Targanta Therapeutics Corp. (Nasdaq: TARG) 82.6% LOWER; the Advisory Committee voted by a narrow margin of 8-10 (against) that the data presented demonstrate the safety and effectiveness of oritavancin for the treatment of cSSSI.
VeriFone Holdings, Inc. (NYSE: PAY) 46.5% LOWER; said today that based on preliminary financial results, net revenue for Q4 is expected to be in the range of $244-$246 million, or below the range provided as guidance on September 9, 2008. Net revenue for FY08 is expected to be in the range of $922-$924 million. The Street is currently estimate Q4 sales of $263.56 million and FY08 sales of $940.88 million. On the earnings front, VeriFone sees non-GAAP Q4 EPS of $0.18-$0.20, and FY08 EPS of $0.73-$0.75. The Street estimates are for Q4 EPS of $0.25 and FY08 EPS of $0.87.
Eagle Bulk Shipping Inc. (Nasdaq: EGLE) 35.2% LOWER; earlier, JP Morgan downgraded the stock to Underweight. Notably, the entire shipping sector is feeling pain today. Elsewhere in the industry: DryShips (Nasdaq: DRYS) down 18.9%, OceanFreight (Nasdaq: OCNF) down 28.6%.
Perry Ellis International, Inc. (NASDAQ: PERY) 32.9% HIGHER; reports Q3 EPS of $0.33, 2 cents better than the analyst estimate of $0.31. Revenue for the quarter was $222.8 million, versus the consensus of $222.82 million. Affirms its FY09 EPS guidance of $0.90-$1.10, which includes one-time costs of $0.10-$0.15, versus the consensus of $0.92.
Quicksilver Resources (NYSE: KWK) 32.5% LOWER; commodity stocks are getting slaughtered today. In addition, with crude oil pushing below the $50 level earlier, oil & gas stocks are seeing even more downside.
Media General, Inc. (NYSE: MEG) 30.1% LOWER; today reported October sales of $85.9 million compared with $91.2 million in October 2007.
Palm (Nasdaq: PALM) 27.8% HIGHER; after hitting a fresh 52-week low this morning at $1.65, shares have rebounded very strongly. With about 43% of its float shorted as of the beginning of November, today's sharp upside move could be the result of short sellers taking profits.
The Gymboree Corporation (Nasdaq: GYMB) 22.3% HIGHER; reports Q3 EPS of $1.06, 7 cents better than the analyst estimate of $0.99. Revenue for the quarter was $264.1 million, versus the consensus of $301.77 million. Sees Q4 EPS of $0.92-$1.00 and FY08 EPS of $3.12-$3.20. The Street estimates are $0.90 for Q4 and $3.15 for FY08. JPMorgan also upgraded the stock to Overweight.
Noah Education Holding Limited (NYSE: NED) 21% HIGHER; reports Q1 EPS of $0.13 may not be comparable to the analyst estimate of $0.57. Revenue for the quarter was $29.8 million, versus the consensus of $201.60 million.
Chico's FAS (NYSE: CHS) 17.2% HIGHER; earnings were mixed at retailers today, but the majority of the industry is trading higher today. Elsewhere in the sector: Target (NYSE: TGT) up 4.75%, Abercrombie & Fitch (NYSE: ANF) up 3.7%, Charming Shoppes (Nasdaq: cHRS) up 30%.
Petsmart (Nasdaq: PETM) 15.5% HIGHER; reports Q3 EPS of $0.28, 2 cents better than the analyst estimate of $0.26. Revenue for the quarter was $1.25 billion, versus the consensus of $1.24 billion. Petsmart sees Q4 EPS 59c-62c versus 60 cents consensus.
To get this report daily visit http://www.streetinsider.com/entities/Unusual+11+Mid-Day+Movers.
VeriFone Holdings, Inc. (NYSE: PAY) 46.5% LOWER; said today that based on preliminary financial results, net revenue for Q4 is expected to be in the range of $244-$246 million, or below the range provided as guidance on September 9, 2008. Net revenue for FY08 is expected to be in the range of $922-$924 million. The Street is currently estimate Q4 sales of $263.56 million and FY08 sales of $940.88 million. On the earnings front, VeriFone sees non-GAAP Q4 EPS of $0.18-$0.20, and FY08 EPS of $0.73-$0.75. The Street estimates are for Q4 EPS of $0.25 and FY08 EPS of $0.87.
Eagle Bulk Shipping Inc. (Nasdaq: EGLE) 35.2% LOWER; earlier, JP Morgan downgraded the stock to Underweight. Notably, the entire shipping sector is feeling pain today. Elsewhere in the industry: DryShips (Nasdaq: DRYS) down 18.9%, OceanFreight (Nasdaq: OCNF) down 28.6%.
Perry Ellis International, Inc. (NASDAQ: PERY) 32.9% HIGHER; reports Q3 EPS of $0.33, 2 cents better than the analyst estimate of $0.31. Revenue for the quarter was $222.8 million, versus the consensus of $222.82 million. Affirms its FY09 EPS guidance of $0.90-$1.10, which includes one-time costs of $0.10-$0.15, versus the consensus of $0.92.
Quicksilver Resources (NYSE: KWK) 32.5% LOWER; commodity stocks are getting slaughtered today. In addition, with crude oil pushing below the $50 level earlier, oil & gas stocks are seeing even more downside.
Media General, Inc. (NYSE: MEG) 30.1% LOWER; today reported October sales of $85.9 million compared with $91.2 million in October 2007.
Palm (Nasdaq: PALM) 27.8% HIGHER; after hitting a fresh 52-week low this morning at $1.65, shares have rebounded very strongly. With about 43% of its float shorted as of the beginning of November, today's sharp upside move could be the result of short sellers taking profits.
The Gymboree Corporation (Nasdaq: GYMB) 22.3% HIGHER; reports Q3 EPS of $1.06, 7 cents better than the analyst estimate of $0.99. Revenue for the quarter was $264.1 million, versus the consensus of $301.77 million. Sees Q4 EPS of $0.92-$1.00 and FY08 EPS of $3.12-$3.20. The Street estimates are $0.90 for Q4 and $3.15 for FY08. JPMorgan also upgraded the stock to Overweight.
Noah Education Holding Limited (NYSE: NED) 21% HIGHER; reports Q1 EPS of $0.13 may not be comparable to the analyst estimate of $0.57. Revenue for the quarter was $29.8 million, versus the consensus of $201.60 million.
Chico's FAS (NYSE: CHS) 17.2% HIGHER; earnings were mixed at retailers today, but the majority of the industry is trading higher today. Elsewhere in the sector: Target (NYSE: TGT) up 4.75%, Abercrombie & Fitch (NYSE: ANF) up 3.7%, Charming Shoppes (Nasdaq: cHRS) up 30%.
Petsmart (Nasdaq: PETM) 15.5% HIGHER; reports Q3 EPS of $0.28, 2 cents better than the analyst estimate of $0.26. Revenue for the quarter was $1.25 billion, versus the consensus of $1.24 billion. Petsmart sees Q4 EPS 59c-62c versus 60 cents consensus.
To get this report daily visit http://www.streetinsider.com/entities/Unusual+11+Mid-Day+Movers.
You May Also Be Interested In
Create E-mail Alert Related Categories
Special ReportsRelated Entities
JPMorgan, Crude Oil, Unusual 11 Mid-Day MoversSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
