Largest Net $ Movers of Note 06/30
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UPWARD MOVERS:
Cephalon (Nasdaq: CEPH) +$5.89; Received an approvable letter from the FDA for FENTORA. Cephalon intends to submit a response to the FDA by the end of July. The company expects the FDA to classify this response as a Class I resubmission.
RSA Security (Nasdaq: RSAS) +$4.34; EMC and RSA Security announced a definitive agreement for EMC to acquire RSA for $28 per share in cash, for an aggregate purchase price of slightly less than $2.1 billion, net of RSA's existing cash balance.
Las Vegas Sands Corp. (NYSE: LVS) +$3.71; Stock moves higher for the second day. The company had a presentation Wednesday, June 28, 2006, at the Bank of America 2006 Gaming Conference in Las Vegas. William P. Weidner, president and COO of Las Vegas Sands Corp., made the presentation at 3:00 PM PDT. Also, Cabot newsletter names LVS the "Stock of the Month"
Michaels Stores Inc. (NYSE: MIK) +$3.01; Reports in the New York Times, the board plans to meet today to consider two takeover offer that could top $5.2 billion.
Under Armour Inc. (Nasdaq: UARM) +$2.16; Stock moves to new 52-wk high, no significant news
DOWNWARD MOVERS:
Computer Sciences Corp. (NYSE: CSC) -$6.63; Stock down after the company approved the repurchase of up to $2 billion of its common stock. The decision to repurchase stock concludes the Board's process to explore strategic alternatives, including a potential sale of the company, announced on April 4, 2006. On an unrelated matter, the Securities and Exchange Commission has made an informal request for information related to CSC's stock option grants and stock option practices. The company intends to fully cooperate with the SEC on this matter.
Garmin Ltd. (Nasdaq: GRMN) -$2.55; Stock down today with no significant news. Today's decline could be attributed to profit taking - the stock have moved up approx. 75% since Feb. 8th, 2006.
Qiao Xing Universal Telephone (Nasdaq: XING) +$2.25; Released an un-audited management account basis, certain key financial data for the first quarter of 2006. Compared with the same period of the previous year, in the first quarter of 2006, the Company's net sales and gross profit increased 18% and 43% respectively.
Palm (Nasdaq: PALM) -$2.08; Reports Q4 EPS of $0.29 (ex-items), 6 cents better than estimates.(0.23) Revenues were $403.1 million vs. $401.18 million consensus. PALM sees Q1 revenues between $380-385 million vs. $413.4 million consensus. PALM sees Q1 EPS between $0.18-0.19 vs. $0.22 consensus. Sees FY07 revenue growth between 20-25%.
Mittal Steel Company NV (NYSE: MT) -$1.76; Stock down after acquisition candidate Arcelor, said shareholders have voted to reject Severstal acquisition proposal.
Cephalon (Nasdaq: CEPH) +$5.89; Received an approvable letter from the FDA for FENTORA. Cephalon intends to submit a response to the FDA by the end of July. The company expects the FDA to classify this response as a Class I resubmission.
RSA Security (Nasdaq: RSAS) +$4.34; EMC and RSA Security announced a definitive agreement for EMC to acquire RSA for $28 per share in cash, for an aggregate purchase price of slightly less than $2.1 billion, net of RSA's existing cash balance.
Las Vegas Sands Corp. (NYSE: LVS) +$3.71; Stock moves higher for the second day. The company had a presentation Wednesday, June 28, 2006, at the Bank of America 2006 Gaming Conference in Las Vegas. William P. Weidner, president and COO of Las Vegas Sands Corp., made the presentation at 3:00 PM PDT. Also, Cabot newsletter names LVS the "Stock of the Month"
Michaels Stores Inc. (NYSE: MIK) +$3.01; Reports in the New York Times, the board plans to meet today to consider two takeover offer that could top $5.2 billion.
Under Armour Inc. (Nasdaq: UARM) +$2.16; Stock moves to new 52-wk high, no significant news
DOWNWARD MOVERS:
Computer Sciences Corp. (NYSE: CSC) -$6.63; Stock down after the company approved the repurchase of up to $2 billion of its common stock. The decision to repurchase stock concludes the Board's process to explore strategic alternatives, including a potential sale of the company, announced on April 4, 2006. On an unrelated matter, the Securities and Exchange Commission has made an informal request for information related to CSC's stock option grants and stock option practices. The company intends to fully cooperate with the SEC on this matter.
Garmin Ltd. (Nasdaq: GRMN) -$2.55; Stock down today with no significant news. Today's decline could be attributed to profit taking - the stock have moved up approx. 75% since Feb. 8th, 2006.
Qiao Xing Universal Telephone (Nasdaq: XING) +$2.25; Released an un-audited management account basis, certain key financial data for the first quarter of 2006. Compared with the same period of the previous year, in the first quarter of 2006, the Company's net sales and gross profit increased 18% and 43% respectively.
Palm (Nasdaq: PALM) -$2.08; Reports Q4 EPS of $0.29 (ex-items), 6 cents better than estimates.(0.23) Revenues were $403.1 million vs. $401.18 million consensus. PALM sees Q1 revenues between $380-385 million vs. $413.4 million consensus. PALM sees Q1 EPS between $0.18-0.19 vs. $0.22 consensus. Sees FY07 revenue growth between 20-25%.
Mittal Steel Company NV (NYSE: MT) -$1.76; Stock down after acquisition candidate Arcelor, said shareholders have voted to reject Severstal acquisition proposal.
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