StreetInsider.com Pre-Open Movers 03/05
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StreetInsider.com Pre-Open Movers
New Century Financial Corp. (NYSE: NEW) 55% LOWER; needs financial waivers maintain its credit lines and faces investigations related to its accounting and trading in its stock. Broker downgrades
Memory Pharmaceuticals Corp. (Nasdaq: MEMY) 31% LOWER; said an analysis of the primary and secondary outcome measures in the trial indicated that MEM 1003 did not prove effective for the treatment of bipolar mania.
Fremont General Corporation (NYSE: FMT) 27% LOWER; to sell subprime lending unit
Home Solutions of America Inc. (Nasdaq: HSOA) 25% LOWER; Lowers guidance. Also announced that Rick J. O'Brien, President and Chief Operating Officer, will resign effective April 15, 2007, to pursue other opportunities.
Novastar Financial Inc. (NYSE: NFI) 23% LOWER; Meltdown in subprime
Aeroflex Incorporated (Nasdaq: ARXX) 20% HIGHER; entered into an agreement to be acquired by General Atlantic and Francisco Partners in a transaction valued at approximately $1.0 billion. Aeroflex stockholders would receive $13.50 per share in cash.
Accredited Home Lenders (NASDAQ: LEND) 18.7% LOWER; Meltdown in subprime
Pathmark Stores (Nasdaq: PTMK) 9% HIGHER; The Great Atlantic & Pacific Tea Company (NYSE: GAP) and Pathmark Stores reached a definitive merger agreement in which A&P will acquire Pathmark Stores, Inc., for $1.3 billion in cash, stock and debt assumption or retirement. Pathmark shareholders will receive $9.00 in cash and 0.12963 shares of A&P stock for each Pathmark share.
Barnes & Noble, Inc. (NYSE: BKS) 8.6% LOWER; updates guidance
Countrywide Financial Corp. (NYSE: CFC) 6.8% LOWER; Lehman Brothers downgrades. Fears subprime troubles can trickle up to prime and Alt-a
Altair Nanotechnologies Inc. (NASDAQ: ALTI) 5% HIGHER; AES Corporation (NYSE: AES) Makes $3M Strategic Investment in Altair
Advanced Micro Devices Inc. (NYSE: AMD) 4% LOWER; said it is unlikely to meet its previously estimated revenue guidance of $1.6 to $1.7 billion for the first quarter of 2007.
Alltel Corp. (NYSE: AT) 2% HIGHER; Reports from the WSJ, the company has stepped up efforts to sell itself to a large carrier such as AT&T (NYSE: T), Verizon (NYSE: VZ) or Spring Nextel (NYSE: S).
New Century Financial Corp. (NYSE: NEW) 55% LOWER; needs financial waivers maintain its credit lines and faces investigations related to its accounting and trading in its stock. Broker downgrades
Memory Pharmaceuticals Corp. (Nasdaq: MEMY) 31% LOWER; said an analysis of the primary and secondary outcome measures in the trial indicated that MEM 1003 did not prove effective for the treatment of bipolar mania.
Fremont General Corporation (NYSE: FMT) 27% LOWER; to sell subprime lending unit
Home Solutions of America Inc. (Nasdaq: HSOA) 25% LOWER; Lowers guidance. Also announced that Rick J. O'Brien, President and Chief Operating Officer, will resign effective April 15, 2007, to pursue other opportunities.
Novastar Financial Inc. (NYSE: NFI) 23% LOWER; Meltdown in subprime
Aeroflex Incorporated (Nasdaq: ARXX) 20% HIGHER; entered into an agreement to be acquired by General Atlantic and Francisco Partners in a transaction valued at approximately $1.0 billion. Aeroflex stockholders would receive $13.50 per share in cash.
Accredited Home Lenders (NASDAQ: LEND) 18.7% LOWER; Meltdown in subprime
Pathmark Stores (Nasdaq: PTMK) 9% HIGHER; The Great Atlantic & Pacific Tea Company (NYSE: GAP) and Pathmark Stores reached a definitive merger agreement in which A&P will acquire Pathmark Stores, Inc., for $1.3 billion in cash, stock and debt assumption or retirement. Pathmark shareholders will receive $9.00 in cash and 0.12963 shares of A&P stock for each Pathmark share.
Barnes & Noble, Inc. (NYSE: BKS) 8.6% LOWER; updates guidance
Countrywide Financial Corp. (NYSE: CFC) 6.8% LOWER; Lehman Brothers downgrades. Fears subprime troubles can trickle up to prime and Alt-a
Altair Nanotechnologies Inc. (NASDAQ: ALTI) 5% HIGHER; AES Corporation (NYSE: AES) Makes $3M Strategic Investment in Altair
Advanced Micro Devices Inc. (NYSE: AMD) 4% LOWER; said it is unlikely to meet its previously estimated revenue guidance of $1.6 to $1.7 billion for the first quarter of 2007.
Alltel Corp. (NYSE: AT) 2% HIGHER; Reports from the WSJ, the company has stepped up efforts to sell itself to a large carrier such as AT&T (NYSE: T), Verizon (NYSE: VZ) or Spring Nextel (NYSE: S).
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