StreetInsider.com Pre-Open Movers 09/06
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StreetInsider.com Pre-Open Movers:
Provena Foods Inc. (Amex: PZA) 30% HIGHER; entered into a definitive merger agreement with Hormel Foods Corporation (NYSE: HRL) pursuant to which Hormel Foods will acquire Provena Foods Inc.
EpiCept Corporation (Nasdaq: EPCT) 30% LOWER; today that LidoPAIN SP, a sterile prescription analgesic patch designed to provide sustained topical delivery of lidocaine to a post-surgical or post-traumatic sutured wound, did not meet its co-primary endpoints in a Phase III clinical trial in Europe.
Carrier Access Corp. (Nasdaq: CACS) 27% LOWER; Revised Q3 revenue and earnings estimates. Revenue for the quarter is expected to range from $16 million to $18 million. Current consensus is $25.52 million. Basic and diluted Non-GAAP loss per share for the quarter is expected to range from $(0.16) to $(0.11). Current consensus is a profit of $0.01.
PlanetOut Inc. (Nasdaq: LGBT) 18% LOWER; said it is lowering its revenue outlook for the third quarter of 2006. The company now anticipates that revenue for the third quarter will be $15 to $16 million, down approximately 14 percent from its previous range. The company also lowered its third quarter adjusted EBITDA expectations to $0.0 to $1.0 million.
Finisar Corporation (NASDAQ: FNSR) 12% LOWER; reports Q1 (Non-GAAP) EPS of $0.03, in-line with estimates. (GAAP EPS for Q1 was Breakeven - $0.00) Revenues were $106.2 million vs. $107.47 million consensus.
Hain Celestial Group Inc. (Nasdaq: HAIN) 10% HIGHER ;reports Q4 (adjusted) EPS of $0.24, 1 cent better than estimates. Revenues were $195 million vs. $186.96 million consensus. The Company announced fiscal year 2007 sales guidance of $880 million to $900 million, an increase of 19% to 22% over 2006 sales and earnings per share of $1.15 to $1.19 increasing 13% to 17% on existing business. Current consensus is $844.47 million and EPS of $1.17, respectively.
Donaldson Company, Inc. (NYSE: DCI) 9% HIGHER; reports Q4 EPS of $0.43, 3 cents better than estimates. Revenues were $468.2 million vs. $456.57 million consensus. "We are entering fiscal 2007 with solid sales and operating expectations," said Cook. "Our incoming orders remain strong, and our operations are running very well. We see enough good things in our businesses to be confident of delivering another record year in 2007, with EPS expected to be in the range of $1.72 to $1.82 per share." Current consensus is $1.68.
Magellan Health Services, Inc. (Nasdaq: MGLN) 7% LOWER; notified by WellPoint, Inc. (NYSE: WLP) of its intent to terminate its contract with Magellan for the management of behavioral health services for its commercial members in Indiana, Kentucky and Ohio (the Midwest contract), effective March 31, 2007.
Priceline.com Inc (Nasdaq: PCLN) 6.7% LOWER; Hutchison Whampoa Limited and Cheung Kong (Holdings) Limited sold 8.9 million shares of priceline.com common stock in an offering underwritten by Goldman, Sachs & Co.
ZymoGenetics, Inc. (Nasdaq: ZGEN) 6% HIGHER; announced that a Phase 3 clinical study of recombinant human Thrombin (rhThrombin) met its primary endpoint. Treatment with rhThrombin and bovine thrombin resulted in comparable incidence of hemostasis at 10 minutes in the four surgical settings tested.
Panera Bread Co. (Nasdaq: PNRA) 5.8% LOWER; reported that system-wide comparable bakery-cafe sales increased 1.3% for the five weeks ended August 29, 2006. The Company also adjusted its third quarter 2006 system-wide comparable bakery-cafe sales growth target to 2% to 3% from 3% to 4%.
TiVo Inc. (Nasdaq: TIVO) 5.5% LOWER; announced a follow-on public offering comprised of 8,264,463 primary shares.
InterDigital Communications Corp. (Nasdaq: IDCC) 5% HIGHER; Awarded $134 Million Plus Interest in Arbitration Proceeding with Samsung for Sales Through 2005
Ford Motor Co. (NYSE: F) 4.6% HIGHER; elected Boeing's (NYSE: BA) Alan Mulally as president and chief executive officer. He has also been elected to the Board of Directors. Bill Ford will continue his duties as executive chairman of the company.
Netflix, Inc. (Nasdaq: NFLX) 3.7% HIGHER; JP Morgan upgrades Netflix (NFLX) to Overweight
Ford Motor Co. (NYSE: F) 3% HIGHER; Citigroup Upgrades Ford Motor (F) to Hold
Intel Corp. (Nasdaq: INTC) 1.6% LOWER; The company's employee population will decline to approximately 95,000 by the end of this year, resulting from workforce reductions, attrition and previously announced actions. The workforce will decline to approximately 92,000 by the middle of 2007 -- 10,500 fewer than the company's employee population at the end of the second quarter of 2006.
Provena Foods Inc. (Amex: PZA) 30% HIGHER; entered into a definitive merger agreement with Hormel Foods Corporation (NYSE: HRL) pursuant to which Hormel Foods will acquire Provena Foods Inc.
EpiCept Corporation (Nasdaq: EPCT) 30% LOWER; today that LidoPAIN SP, a sterile prescription analgesic patch designed to provide sustained topical delivery of lidocaine to a post-surgical or post-traumatic sutured wound, did not meet its co-primary endpoints in a Phase III clinical trial in Europe.
Carrier Access Corp. (Nasdaq: CACS) 27% LOWER; Revised Q3 revenue and earnings estimates. Revenue for the quarter is expected to range from $16 million to $18 million. Current consensus is $25.52 million. Basic and diluted Non-GAAP loss per share for the quarter is expected to range from $(0.16) to $(0.11). Current consensus is a profit of $0.01.
PlanetOut Inc. (Nasdaq: LGBT) 18% LOWER; said it is lowering its revenue outlook for the third quarter of 2006. The company now anticipates that revenue for the third quarter will be $15 to $16 million, down approximately 14 percent from its previous range. The company also lowered its third quarter adjusted EBITDA expectations to $0.0 to $1.0 million.
Finisar Corporation (NASDAQ: FNSR) 12% LOWER; reports Q1 (Non-GAAP) EPS of $0.03, in-line with estimates. (GAAP EPS for Q1 was Breakeven - $0.00) Revenues were $106.2 million vs. $107.47 million consensus.
Hain Celestial Group Inc. (Nasdaq: HAIN) 10% HIGHER ;reports Q4 (adjusted) EPS of $0.24, 1 cent better than estimates. Revenues were $195 million vs. $186.96 million consensus. The Company announced fiscal year 2007 sales guidance of $880 million to $900 million, an increase of 19% to 22% over 2006 sales and earnings per share of $1.15 to $1.19 increasing 13% to 17% on existing business. Current consensus is $844.47 million and EPS of $1.17, respectively.
Donaldson Company, Inc. (NYSE: DCI) 9% HIGHER; reports Q4 EPS of $0.43, 3 cents better than estimates. Revenues were $468.2 million vs. $456.57 million consensus. "We are entering fiscal 2007 with solid sales and operating expectations," said Cook. "Our incoming orders remain strong, and our operations are running very well. We see enough good things in our businesses to be confident of delivering another record year in 2007, with EPS expected to be in the range of $1.72 to $1.82 per share." Current consensus is $1.68.
Magellan Health Services, Inc. (Nasdaq: MGLN) 7% LOWER; notified by WellPoint, Inc. (NYSE: WLP) of its intent to terminate its contract with Magellan for the management of behavioral health services for its commercial members in Indiana, Kentucky and Ohio (the Midwest contract), effective March 31, 2007.
Priceline.com Inc (Nasdaq: PCLN) 6.7% LOWER; Hutchison Whampoa Limited and Cheung Kong (Holdings) Limited sold 8.9 million shares of priceline.com common stock in an offering underwritten by Goldman, Sachs & Co.
ZymoGenetics, Inc. (Nasdaq: ZGEN) 6% HIGHER; announced that a Phase 3 clinical study of recombinant human Thrombin (rhThrombin) met its primary endpoint. Treatment with rhThrombin and bovine thrombin resulted in comparable incidence of hemostasis at 10 minutes in the four surgical settings tested.
Panera Bread Co. (Nasdaq: PNRA) 5.8% LOWER; reported that system-wide comparable bakery-cafe sales increased 1.3% for the five weeks ended August 29, 2006. The Company also adjusted its third quarter 2006 system-wide comparable bakery-cafe sales growth target to 2% to 3% from 3% to 4%.
TiVo Inc. (Nasdaq: TIVO) 5.5% LOWER; announced a follow-on public offering comprised of 8,264,463 primary shares.
InterDigital Communications Corp. (Nasdaq: IDCC) 5% HIGHER; Awarded $134 Million Plus Interest in Arbitration Proceeding with Samsung for Sales Through 2005
Ford Motor Co. (NYSE: F) 4.6% HIGHER; elected Boeing's (NYSE: BA) Alan Mulally as president and chief executive officer. He has also been elected to the Board of Directors. Bill Ford will continue his duties as executive chairman of the company.
Netflix, Inc. (Nasdaq: NFLX) 3.7% HIGHER; JP Morgan upgrades Netflix (NFLX) to Overweight
Ford Motor Co. (NYSE: F) 3% HIGHER; Citigroup Upgrades Ford Motor (F) to Hold
Intel Corp. (Nasdaq: INTC) 1.6% LOWER; The company's employee population will decline to approximately 95,000 by the end of this year, resulting from workforce reductions, attrition and previously announced actions. The workforce will decline to approximately 92,000 by the middle of 2007 -- 10,500 fewer than the company's employee population at the end of the second quarter of 2006.
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