StreetInsider.com Largest Net $ Movers of Note 10/10
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UPWARD MOVERS:
New River Pharmaceuticals (Nasdaq: NRPH) +$7.45; Continued momentum after the company received an approvable letter from the FDA for NRP104, for the treatment of Attention-Deficit/Hyperactivity Disorder (ADHD) in children aged 6 - 12. No additional studies have been requested by the FDA as a condition for approval of NRP104.
Johnson Controls Inc. (NYSE: JCI) +$4.25; Stock moving higher after auto supplier analyst day and Baird upgrade
Rogers Corporation (NYSE: ROG) +$3.45; Announced revised guidance for its third quarter of 2006. Rogers now projects record third quarter net sales of approximately $123 million compared to the July 27, 2006, guidance of $105 to $109 million. Earnings for the third quarter are now projected to be $0.87 to $0.89 per diluted share, an all-time record. The previous earnings guidance was $0.73 to $0.77 per diluted share. Current Q3 revenue consensus is $102.5 million. Current Q3 EPS consensus is $0.75.
Chattem, Inc. (NASDAQ: CHTT) +$3.34; Reports adjusted Q3 EPS of $0.47, 5 cents better than estimates. Revenues were $72.0 million vs. $72.30 million consensus. As previously announced, the Company expects total revenues for fiscal 2006 to be in the range of $295 to $310 million, and currently expects earnings per share in fiscal 2006 to be in the range of $1.90 to $2.20. In each case, these estimates exclude any litigation related items, debt extinguishment charges and the estimated $0.15 per share fiscal 2006 impact of adopting SFAS 123R, which requires the expensing of stock based compensation. FY06 revenue consensus is $302.55 million and EPS consensus is $1.88.
Rohm and Haas Company (NYSE: ROH) +$2.35; Announced a set of strategic initiatives designed to accelerate growth and enhance profitability. Collectively, these efforts will help the company build on its most successful technologies and enable it to respond more quickly, and appropriately, to market needs around the world. The Company will reorganize into into three business groups. Also, Rohm and Haas expects third quarter sales to be 7 percent higher than the prior-year period, and earnings to be approximately $.85 per share, including approximately $.03 per share mainly due to the settlement of tax contingencies in the quarter. Current consensus is $0.80.
DOWNWARD MOVERS:
Landry's Restaurants, Inc. (NYSE: LNY) -$2.32; Announced it entered into a definitive agreement to sell 120 of its Joe's Crab Shack restaurants to JCS Holdings, LLC, a new entity created to acquire these restaurants by J. H. Whitney Capital Partners, LLC, a private equity group. The sales price is approximately $192 million, including the assumption of certain working capital liabilities.
Mastercard (NYSE: MA) -$2.15; Continues sell-off after yesterday's downgrades from Citigroup and Goldman Sachs.
Genzyme Corporation (Nasdaq: GENZ) -$1.35; Informed the Board of Directors of AnorMED Inc. (Nasdaq: ANOR) that it is prepared to increase its offer to acquire all outstanding shares of AnorMED to US $13.50 per share, or approximately $580 million, contingent upon AnorMED executing a support agreement with Genzyme.
Brinker Int'l (NYSE: EAT) Bear Stearns downgrades EAT from Outperform to Peer Perform.
Matria Healthcare (Nasdaq: MATR) -$1.06; Stock continues lower after yesterday's rumors the company may have lost a large contract.
New River Pharmaceuticals (Nasdaq: NRPH) +$7.45; Continued momentum after the company received an approvable letter from the FDA for NRP104, for the treatment of Attention-Deficit/Hyperactivity Disorder (ADHD) in children aged 6 - 12. No additional studies have been requested by the FDA as a condition for approval of NRP104.
Johnson Controls Inc. (NYSE: JCI) +$4.25; Stock moving higher after auto supplier analyst day and Baird upgrade
Rogers Corporation (NYSE: ROG) +$3.45; Announced revised guidance for its third quarter of 2006. Rogers now projects record third quarter net sales of approximately $123 million compared to the July 27, 2006, guidance of $105 to $109 million. Earnings for the third quarter are now projected to be $0.87 to $0.89 per diluted share, an all-time record. The previous earnings guidance was $0.73 to $0.77 per diluted share. Current Q3 revenue consensus is $102.5 million. Current Q3 EPS consensus is $0.75.
Chattem, Inc. (NASDAQ: CHTT) +$3.34; Reports adjusted Q3 EPS of $0.47, 5 cents better than estimates. Revenues were $72.0 million vs. $72.30 million consensus. As previously announced, the Company expects total revenues for fiscal 2006 to be in the range of $295 to $310 million, and currently expects earnings per share in fiscal 2006 to be in the range of $1.90 to $2.20. In each case, these estimates exclude any litigation related items, debt extinguishment charges and the estimated $0.15 per share fiscal 2006 impact of adopting SFAS 123R, which requires the expensing of stock based compensation. FY06 revenue consensus is $302.55 million and EPS consensus is $1.88.
Rohm and Haas Company (NYSE: ROH) +$2.35; Announced a set of strategic initiatives designed to accelerate growth and enhance profitability. Collectively, these efforts will help the company build on its most successful technologies and enable it to respond more quickly, and appropriately, to market needs around the world. The Company will reorganize into into three business groups. Also, Rohm and Haas expects third quarter sales to be 7 percent higher than the prior-year period, and earnings to be approximately $.85 per share, including approximately $.03 per share mainly due to the settlement of tax contingencies in the quarter. Current consensus is $0.80.
DOWNWARD MOVERS:
Landry's Restaurants, Inc. (NYSE: LNY) -$2.32; Announced it entered into a definitive agreement to sell 120 of its Joe's Crab Shack restaurants to JCS Holdings, LLC, a new entity created to acquire these restaurants by J. H. Whitney Capital Partners, LLC, a private equity group. The sales price is approximately $192 million, including the assumption of certain working capital liabilities.
Mastercard (NYSE: MA) -$2.15; Continues sell-off after yesterday's downgrades from Citigroup and Goldman Sachs.
Genzyme Corporation (Nasdaq: GENZ) -$1.35; Informed the Board of Directors of AnorMED Inc. (Nasdaq: ANOR) that it is prepared to increase its offer to acquire all outstanding shares of AnorMED to US $13.50 per share, or approximately $580 million, contingent upon AnorMED executing a support agreement with Genzyme.
Brinker Int'l (NYSE: EAT) Bear Stearns downgrades EAT from Outperform to Peer Perform.
Matria Healthcare (Nasdaq: MATR) -$1.06; Stock continues lower after yesterday's rumors the company may have lost a large contract.
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