Largest Net $ Movers of Note 08/16
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UPWARD MOVERS:
Rio Tinto plc (NYSE: RTP) +$7.40; Seeing interest as deal between Teck Cominco (NYSE: TCK) and Inco (NYSE: N) falls through.
Abercrombie & Fitch Co. (NYSE: ANF) +$6.01; Reports Q2 EPS of $0.72, 1 cent better than estimates.(0.71) Revenues were $658.7 million vs. $658.81 million consensus. Sees 2nd half 2006 EPS between $3.15-3.20. Sees FY EPS between $4.49-4.54 vs. $4.39 consensus.
Lone Star Technologies (NYSE: LSS) +$3.84; Jefferies & Co upgrades LSS from Hold to Buy. Price target increased from $50 to $62. Jefferies analyst, Stephen D. Gengaro, says, "We are upgrading LSS to a Buy from Hold as yesterday's game changing joint venture announcement appears very accretive and provides clarity to issues that have been an overhang on the stock, including business mix, geographic diversification, and productive uses of the significant cash balance."
LCA-Vision (Nasdaq: LCAV) +$3.58; Raymond James upgrades LCAV from Outperform to Strong Buy.
Google Inc. (Nasdaq: GOOG) +$3.37; Stock up for 3rd straight session as Nasdaq moves over 1% higher on the day.
DOWNWARD MOVERS:
Daktronics, Inc. (Nasdaq: DAKT) -$8.27; Reports Q1 EPS of $0.12, 4 cents worse than estimates. Revenues were $92.2 million vs. $92.14 million consensus. Sees Q2 revenues between $95-105 million vs. $94.58 million consensus. Sees Q2 EPS between $0.13-0.18 vs. $0.18 consensus. The company increases FY revenue estimate to be in excess of $372 million. Current FY consensus is $383.24 million consensus.
Tween Brands (NYSE: TWB) -$3.38; Reports Q2 EPS of $0.18, in-line with estimates. Revenues came in at $185.8 million versus the consensus of $177.3 million. Sees FY07 EPS of $2-$2.10 versus the consensus of $2.08.
Mills Corp. (NYSE: MLS) -$2.63; Mark Ettenger�s service as President of The Mills Corporation is terminated, also, The company expects to incur severance and lease termination costs currently estimated at approximately $5.0 million, which are anticipated to result in future cash expenditures of an equivalent amount.
Inco Ltd. (NYSE: N) -$1.97; Shares fall after Teck Cominco (NYSE: TCK) pulls back from plans to enhance deal to acquire Inco.
Illumina Inc. (Nasdaq: ILMN) -$1.43; Stock seeing pressure today, no significant news reported today.
Rio Tinto plc (NYSE: RTP) +$7.40; Seeing interest as deal between Teck Cominco (NYSE: TCK) and Inco (NYSE: N) falls through.
Abercrombie & Fitch Co. (NYSE: ANF) +$6.01; Reports Q2 EPS of $0.72, 1 cent better than estimates.(0.71) Revenues were $658.7 million vs. $658.81 million consensus. Sees 2nd half 2006 EPS between $3.15-3.20. Sees FY EPS between $4.49-4.54 vs. $4.39 consensus.
Lone Star Technologies (NYSE: LSS) +$3.84; Jefferies & Co upgrades LSS from Hold to Buy. Price target increased from $50 to $62. Jefferies analyst, Stephen D. Gengaro, says, "We are upgrading LSS to a Buy from Hold as yesterday's game changing joint venture announcement appears very accretive and provides clarity to issues that have been an overhang on the stock, including business mix, geographic diversification, and productive uses of the significant cash balance."
LCA-Vision (Nasdaq: LCAV) +$3.58; Raymond James upgrades LCAV from Outperform to Strong Buy.
Google Inc. (Nasdaq: GOOG) +$3.37; Stock up for 3rd straight session as Nasdaq moves over 1% higher on the day.
DOWNWARD MOVERS:
Daktronics, Inc. (Nasdaq: DAKT) -$8.27; Reports Q1 EPS of $0.12, 4 cents worse than estimates. Revenues were $92.2 million vs. $92.14 million consensus. Sees Q2 revenues between $95-105 million vs. $94.58 million consensus. Sees Q2 EPS between $0.13-0.18 vs. $0.18 consensus. The company increases FY revenue estimate to be in excess of $372 million. Current FY consensus is $383.24 million consensus.
Tween Brands (NYSE: TWB) -$3.38; Reports Q2 EPS of $0.18, in-line with estimates. Revenues came in at $185.8 million versus the consensus of $177.3 million. Sees FY07 EPS of $2-$2.10 versus the consensus of $2.08.
Mills Corp. (NYSE: MLS) -$2.63; Mark Ettenger�s service as President of The Mills Corporation is terminated, also, The company expects to incur severance and lease termination costs currently estimated at approximately $5.0 million, which are anticipated to result in future cash expenditures of an equivalent amount.
Inco Ltd. (NYSE: N) -$1.97; Shares fall after Teck Cominco (NYSE: TCK) pulls back from plans to enhance deal to acquire Inco.
Illumina Inc. (Nasdaq: ILMN) -$1.43; Stock seeing pressure today, no significant news reported today.
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