StreetInsider.com Pre-Open Movers 07/11
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StreetInsider.com Pre-Open Movers:
Valentis Inc. (Nasdaq: VLTS) 84% LOWER; announced that no statistically significant difference was seen in the primary endpoint or any of the secondary endpoints in its Phase IIb clinical trial of VLTS 934 in peripheral arterial disease (PAD). The primary efficacy endpoint in the study was improvement in exercise tolerance on an escalating grade treadmill after 90 days in patients receiving VLTS 934 versus patients receiving placebo.
Key Tronic Corporation (Nasdaq: KTCC) 41.9% HIGHER; said for the fourth quarter of fiscal 2006, Key Tronic expects to report total revenue of approximately $52 million, up from previous estimates in the range of $46 million to $50 million. Net income for the fourth quarter of fiscal 2006 is expected to be in the range of $0.18 to $0.20 per share, up from the previous estimates of $0.07 and $0.12 per share.
Brush Engineered Materials Inc. (NYSE: BW) 20% HIGHER; significantly raised its second quarter 2006 sales and earnings outlook due to stronger than anticipated demand in its key markets. The Company now expects sales for the second quarter to be in the range of $185.0 million to $188.0 million. Earnings are anticipated to be in the range of $0.32 to $0.35 per share. The Company had previously published an expected second quarter sales range of $160.0 million to $170.0 million and an earnings range of $0.25 to $0.30 per share.
Harbor Florida Bancshares Inc. (Nasdaq: HARB) 17% HIGHER; National City Corporation (NYSE: NCC) agrees to acquire Harbor Florida Bancshares for $45 per share in National City common stock. The transaction has a total indicated value of approximately $1.1 billion.
Perficient, Inc. (NASDAQ: PRFT) 9.7% HIGHER; is raising its revenue guidance for the second quarter of 2006. The Company expects its Q2 services and software revenue, including reimbursed expenses, to be in the range of $36.6 million to $37.7 million. This revised revenue guidance compares to the previous guidance range of $31.0 million to $32.8 million.
MoSys Inc. (Nasdaq: MOSY) 6.7% LOWER; now expects total revenue for the second quarter of 2006 to be approximately $2.3 million. Current consensus is $3.98 million
WD-40 Company (Nasdaq: WDFC) 6% LOWER; reports Q3 EPS of $0.42, 4 cents better than estimates.(0.38) Revenues were $73.1 million vs. $72.04 million consensus. WDFC sees FY06 EPS between $1.55-1.65 vs. $1.69 consensus. The Company sees FY06 sales between $285-290 million vs. $290 million consensus.
Pepsi Bottling Group, Inc. (NYSE: PBG) 5% HIGHER; reports Q2 EPS of $0.69 (excluding items), 10 cents better than estimates. Revenues were $3.14 billion vs. $3.03 billion consensus. On an adjusted basis, PBG sees full-year EPS between $2.00-$2.06. Current consensus is $1.86.
Alcoa (NYSE: AA) 4.6% LOWER; reports Q2 EPS of $0.90 (excluding items), 4 cents better estimates.(0.86) Revenues were $7.96 billion vs. $7.98 billion consensus.
Lucent Technologies Inc. (NYSE: LU) 3.85% LOWER; expects revenues for the third quarter of fiscal 2006 to be approximately $2.04 billion, versus the consensus of $2.34 billion.
US Airways Group, Inc. (NYSE: LCC) 3% LOWER; Merrill downgrade
Continental Airlines Inc. (NYSE: CAL) 3% LOWER; Merrill downgrade
AMR Corp. (NYSE: AMR) 2.6% LOWER; Merrill downgrade
Falconbridge Limited (NYSE: FAL) 2.7% HIGHER; Xstrata plc increased its fully underwritten all-cash offer to acquire all of the outstanding common shares of Falconbridge Limited not already owned by the Xstrata group from C$52.50 to C$59 in cash per Falconbridge share
Mirant Corp. (NYSE: MIR) 2.5% HIGHER; Immediate launch of a modified "Dutch Auction" tender offer for up to 43 million shares of Mirant common stock for an aggregate purchase price of up to $1.25 billion
TD AMERITRADE Holding Corp. (Nasdaq: AMTD) 2.3% HIGHER; Banc of America upgrade
Summit Financial Group, Inc. (NASDAQ: SMMF) INDICATED LOWER; anticipates Q2 2006 diluted earnings per share will range approximately between $0.36 and $0.37 per share. Current consensus is $0.46.
Valentis Inc. (Nasdaq: VLTS) 84% LOWER; announced that no statistically significant difference was seen in the primary endpoint or any of the secondary endpoints in its Phase IIb clinical trial of VLTS 934 in peripheral arterial disease (PAD). The primary efficacy endpoint in the study was improvement in exercise tolerance on an escalating grade treadmill after 90 days in patients receiving VLTS 934 versus patients receiving placebo.
Key Tronic Corporation (Nasdaq: KTCC) 41.9% HIGHER; said for the fourth quarter of fiscal 2006, Key Tronic expects to report total revenue of approximately $52 million, up from previous estimates in the range of $46 million to $50 million. Net income for the fourth quarter of fiscal 2006 is expected to be in the range of $0.18 to $0.20 per share, up from the previous estimates of $0.07 and $0.12 per share.
Brush Engineered Materials Inc. (NYSE: BW) 20% HIGHER; significantly raised its second quarter 2006 sales and earnings outlook due to stronger than anticipated demand in its key markets. The Company now expects sales for the second quarter to be in the range of $185.0 million to $188.0 million. Earnings are anticipated to be in the range of $0.32 to $0.35 per share. The Company had previously published an expected second quarter sales range of $160.0 million to $170.0 million and an earnings range of $0.25 to $0.30 per share.
Harbor Florida Bancshares Inc. (Nasdaq: HARB) 17% HIGHER; National City Corporation (NYSE: NCC) agrees to acquire Harbor Florida Bancshares for $45 per share in National City common stock. The transaction has a total indicated value of approximately $1.1 billion.
Perficient, Inc. (NASDAQ: PRFT) 9.7% HIGHER; is raising its revenue guidance for the second quarter of 2006. The Company expects its Q2 services and software revenue, including reimbursed expenses, to be in the range of $36.6 million to $37.7 million. This revised revenue guidance compares to the previous guidance range of $31.0 million to $32.8 million.
MoSys Inc. (Nasdaq: MOSY) 6.7% LOWER; now expects total revenue for the second quarter of 2006 to be approximately $2.3 million. Current consensus is $3.98 million
WD-40 Company (Nasdaq: WDFC) 6% LOWER; reports Q3 EPS of $0.42, 4 cents better than estimates.(0.38) Revenues were $73.1 million vs. $72.04 million consensus. WDFC sees FY06 EPS between $1.55-1.65 vs. $1.69 consensus. The Company sees FY06 sales between $285-290 million vs. $290 million consensus.
Pepsi Bottling Group, Inc. (NYSE: PBG) 5% HIGHER; reports Q2 EPS of $0.69 (excluding items), 10 cents better than estimates. Revenues were $3.14 billion vs. $3.03 billion consensus. On an adjusted basis, PBG sees full-year EPS between $2.00-$2.06. Current consensus is $1.86.
Alcoa (NYSE: AA) 4.6% LOWER; reports Q2 EPS of $0.90 (excluding items), 4 cents better estimates.(0.86) Revenues were $7.96 billion vs. $7.98 billion consensus.
Lucent Technologies Inc. (NYSE: LU) 3.85% LOWER; expects revenues for the third quarter of fiscal 2006 to be approximately $2.04 billion, versus the consensus of $2.34 billion.
US Airways Group, Inc. (NYSE: LCC) 3% LOWER; Merrill downgrade
Continental Airlines Inc. (NYSE: CAL) 3% LOWER; Merrill downgrade
AMR Corp. (NYSE: AMR) 2.6% LOWER; Merrill downgrade
Falconbridge Limited (NYSE: FAL) 2.7% HIGHER; Xstrata plc increased its fully underwritten all-cash offer to acquire all of the outstanding common shares of Falconbridge Limited not already owned by the Xstrata group from C$52.50 to C$59 in cash per Falconbridge share
Mirant Corp. (NYSE: MIR) 2.5% HIGHER; Immediate launch of a modified "Dutch Auction" tender offer for up to 43 million shares of Mirant common stock for an aggregate purchase price of up to $1.25 billion
TD AMERITRADE Holding Corp. (Nasdaq: AMTD) 2.3% HIGHER; Banc of America upgrade
Summit Financial Group, Inc. (NASDAQ: SMMF) INDICATED LOWER; anticipates Q2 2006 diluted earnings per share will range approximately between $0.36 and $0.37 per share. Current consensus is $0.46.
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