Unusual 11 Mid-Day Movers 2/28: EOG, HURC, VISN, CRM Higher; WPL, RHD, SEED Lower
W.P. Stewart & Co., Ltd. (NYSE: WPL) 39% LOWER; today announced that its Board of Directors is reviewing strategic alternatives that could better position it to enhance long-term shareholder value. The Company will use Merrill Lynch as its financial advisor. The Company is currently in discussions with a number of parties; however, there can be no assurances these discussions will result in a successful conclusion.
R.H. Donnelley (NYSE: RHD) 37.8% LOWER; reported FY07 earnings. Sees FY08 revenues of $2.6-$2.7 billion and free cash flow between $525 and $575 million. The Street estimate for FY08 revs is $2.7 billion. R.H. Donnelley was also downgraded by J.P. Morgan to Neutral this morning.
Origin Agritech (NASDAQ: SEED) 29.9% LOWER; missed Q4 earnings and issued FY08 guidance: sees revenues in the range of $75-$80 million. The Company also announced it has licensed a new genetically modified corn to officially introduce the next generation of corn product into China. However, this new product was not enough positive news to offset its soft earnings.
PharmaNet Development Group (Nasdaq: PDGI) 27.4% LOWER; reports Q4 EPS of $0.33, 2 cents better than the analyst estimate of $0.31. Revenues for the quarter came in at $92.3 million, versus the consensus of $94.49 million. Sees FY08 revenues of $401-$409 million, versus the consensus of $412.78 million and EPS of $1.42-$1.57, versus the Street estimate of $1.72.
Borland Software Corp. (Nasdaq: BORL) 23.8% LOWER; reports a Q4 loss of $0.04, in-line with the analyst estimate of ($0.04). Revenues for the quarter were $61.5 million, versus the consensus of $66.12 million. Sees FY08 revs of $235-$255 million, versus the Street estimate of $271.81 million. Was also downgraded to Sell by S&P Equity and to Neutral at J.P. Morgan.
EOG Resources (NYSE: EOG) 20% HIGHER; issued a press release this morning highlighting notably parts of its 2008 analyst conference. EOG raised its organic production growth estimates for '09 and '10 to 13%-15% from 10%. Additionally, it increased its potential reserve recovery from its Fort Worth Barnett Shale and Uinta Basin natural gas plays.
Hurco Companies Inc. (Nasdaq: HURC) 23.6% HIGHER; reports Q1 EPS of $1.21, versus the analyst estimate of $0.90. Revenues for the quarter were $60.9 million, versus the consensus of $51 million.
VisionChina Media (Nasdaq: VISN) 23.4% HIGHER; reports Q4 EPS of $0.10, 2 cents better than the analyst estimate of $0.08. Revenues for the quarter were $12 million, versus the consensus of $11.75 million.
salesforce.com, Inc. (NYSE: CRM) 16.3% HIGHER; reports Q4 EPS of $0.06, 2 cents better than the analyst estimate of $0.04. Revenues for the quarter were $217 million, versus the consensus of $209.19 million. Sees Q1 EPS of $0.06-$0.07, versus the consensus of $0.06. FY08 EPS are expected to be $0.32-$0.33, versus $0.33.
Avici Systems Inc. (NASDAQ: AVCI) 16% HIGHER; reports Q4 non-GAAP EPS of $1.93, compared to $0.26 in the same quarter last year. Revenues for the quarter came in at $44.9 million, versus the consensus of $42.07 million.
Dress Barn (Nasdaq: DBRN) 13.6% HIGHER; reports Q4 EPS of $0.09 ex-items, 3 cents better than the analyst estimate of $0.06. Revenues for the quarter were $345.6 million, versus the consensus of $343.02 million.
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