StreetInsider.com Pre-Open Movers 07/20
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StreetInsider.com Pre-Open Movers:
NUCRYST Pharmaceuticals (Nasdaq: NCST) 79% HIGHER; announced that the FDA has granted 510(k) clearance for a prescription topical cream containing NPI 32101, the company's patent-protected nanocrystalline silver, as a broad-spectrum antimicrobial barrier
Biovail Corporation (NYSE: BVF) 15.8% LOWER; has received a Non-Approval letter from the U.S. Food and Drug Administration (FDA) for its New Drug Application (NDA) for BVF-033, a novel once-daily salt formulation of bupropion. The main issue raised by the FDA in its letter related to the design of the pharmacokinetic studies required to support the NDA. Biovail believes the studies were appropriate. However, the Company is evaluating the issue and will meet with the FDA as soon as possible to discuss necessary steps to resolve this matter.
PSS World Medical, Inc. (NASDAQ: PSSI) 10.5% LOWER; expects Q1 EPS to be between $0.12-0.13 vs. consensus of $0.18. The Company also announced that it is revising its earnings goal for fiscal year 2008 and now expects consolidated GAAP diluted earnings per share in the range of $0.81 to $0.85. The Company will announce final results for the fiscal 2008 first quarter on July 26, 2007. (Consensus is $0.88).
Intuitive Surgical (NASDAQ: ISRG) 16% HIGHER; reported Q2 earnings of $0.79 per share, 13 cents better than estimates. ($0.66) Revenues came in at $140.2 million versus the consensus of $123.7 million.
Research Frontiers Inc. (NASDAQ: REFR) 9.75% HIGHER; Profiled in BusinessWeek
Tempur-Pedic (NYSE: TPX) 9% HIGHER; reported Q2 earnings of $0.39 per share, 4 cents better than estimates. ($0.35) Revenues came in at $257.6 million versus the consensus of $244.8 million. $200 million buyback. Sees 2007 EPS of $1.63-$1.66 versus the consensus of $1.56.
IMAX Corporation (NASDAQ: IMAX) 8% HIGHER; reports a Q1 loss of $0.12 compared to a restated net loss of ($0.15) per diluted share from continuing operations for the first quarter of fiscal 2006. (Q1 EPS consensus is a loss of $0.14). Revenues were $27.16 million vs. consensus of $21.78 million.
Kinetic Concepts, Inc. (NYSE: KCI) 8% HIGHER; reports Q2 EPS of $0.81, 7 cents better than estimates. Revenues were $396.7 million vs. $374.67 million consensus. KCI is increasing its projections for 2007 total revenue to $1.56 - $1.59 billion vs. consensus of $1.54 billion. The Company is also raising its projections for net earnings per diluted share for 2007 to $3.10 - $3.20 per share vs. $3.10 consensus.
Packeteer (NASDAQ: PKTR) 7.7% LOWER; reported Q2 adj-loss of $0.08 per share, 8 cents worse than estimates. ($0.00) Revenues came in at $32.4 million versus the consensus of $37.0 million.
Caterpillar Inc. (NYSE: CAT) 7.5% LOWER; reports Q2 EPS of $1.24, versus the consensus of $1.48. Revenues came in at $11.36 billion versus the consensus of $11.11 billion. Sees FY EPS of $5.30-$5.80, versus the consensus of $5.59. The company expects full-year sales and revenues of about $44 billion, versus the consensus of $43.77 billion.
Google (NASDAQ: GOOG) 7% LOWER; reported Q2 earnings of $3.56 per share, versus the consensus of $3.59. Total revenues came in at $3.87 billion. Revs ex-TAC at $2.72 billion versus the consensus of $2.68 billion.
Brunswick Corporation (NYSE: BC) 7% LOWER; announced it was lowering production of marine products in the second half of 2007 due to continued weakness in retail markets in the United States. Primarily due to the lower production levels planned for the second half of the year, the company is reducing its earnings estimate for 2007 to a range of $1.20 to $1.35 per diluted share from continuing operations. Previously, the company had estimated diluted earnings per share from continuing operations of $1.65 to $2.00 for 2007. (Consensus is $1.70)
Watsco, Inc. (NYSE: WSO) 6.5% LOWER; revised its 2007 earnings guidance, updated the status of its previously announced tender offer to purchase ACR Group, Inc. and reported that it has divested of its non-core staffing unit. Second quarter earnings per share is estimated to be $0.87-0.88 vs. consensus of $1.06. Watsco announced today that its earnings per share guidance for the year ended December 31, 2007 is revised to $2.70 to $2.80 per diluted share compared to the previously communicated range of $3.25 to $3.35 per diluted share. (Consensus is $3.17)
Limelight Networks (Nasdaq: LLNW) 6.5% HIGHER; Goldman Sachs upgrades Limelight Networks from Neutral to Buy.
SanDisk (NASDAQ: SNDK) 6% HIGHER; reported Q2 earnings of $0.30 per share, 15 cents better than estimates. ($0.15) Revenues came in at $827 million versus the consensus of $792.9 million. Sees Q3 sales of $915-$940 million versus the consensus of $908.9 million. Says Q3 cash flow will remain strong.
Xilinx (NASDAQ: XLNX) 4.8% LOWER; reported Q1 earnings of $0.28 per share, 1 cent worse than estimates. ($0.29) Revenues came in at $445.9 million. Sees Q2 revs unchanged to down slightly sequentially. Sees Q2 gross margins 62%-63%.
PMC-Sierra (NASDAQ: PMCS) 4% HIGHER; reported Q2 adj-EPS of $0.03 per share, versus the consensus of $0.03. Revenues came in at $104.7 million versus the consensus of $107.9 million.
American Home Mortgage Investment Corp. (NYSE: AHM) 11.5% HIGHER; Recovers some of yesterday's 21% loss which was related to rumors a bank pulled a credit line. Analysts defend stock.
First Solar, Inc. (Nasdaq: FSLR) 4% LOWER; filed a registration statement with the SEC for a proposed offering of up to 9,650,000 shares of its common stock. The 9,650,000 shares to be registered include 5,650,000 shares owned by certain stockholders of the Company.
Advanced Micro (NYSE: AMD) 3% HIGHER; reported Q2 loss of $0.85 per share, ex-item, versus the consensus of a loss of $0.85. Revenues came in at $1.378 billion versus the consensus of $1.26 billion.
Gilead Sciences (NASDAQ: GILD) 1.5% LOWER; reported Q2 earnings of $0.42 per share, versus the consensus of $0.39. Revenues came in at $1.05 billion versus the consensus of $1.02 billion.
Baidu.com, Inc. (NASDAQ: BIDU) 1.3% LOWER; Down in sympathy with Goggle.
NUCRYST Pharmaceuticals (Nasdaq: NCST) 79% HIGHER; announced that the FDA has granted 510(k) clearance for a prescription topical cream containing NPI 32101, the company's patent-protected nanocrystalline silver, as a broad-spectrum antimicrobial barrier
Biovail Corporation (NYSE: BVF) 15.8% LOWER; has received a Non-Approval letter from the U.S. Food and Drug Administration (FDA) for its New Drug Application (NDA) for BVF-033, a novel once-daily salt formulation of bupropion. The main issue raised by the FDA in its letter related to the design of the pharmacokinetic studies required to support the NDA. Biovail believes the studies were appropriate. However, the Company is evaluating the issue and will meet with the FDA as soon as possible to discuss necessary steps to resolve this matter.
PSS World Medical, Inc. (NASDAQ: PSSI) 10.5% LOWER; expects Q1 EPS to be between $0.12-0.13 vs. consensus of $0.18. The Company also announced that it is revising its earnings goal for fiscal year 2008 and now expects consolidated GAAP diluted earnings per share in the range of $0.81 to $0.85. The Company will announce final results for the fiscal 2008 first quarter on July 26, 2007. (Consensus is $0.88).
Intuitive Surgical (NASDAQ: ISRG) 16% HIGHER; reported Q2 earnings of $0.79 per share, 13 cents better than estimates. ($0.66) Revenues came in at $140.2 million versus the consensus of $123.7 million.
Research Frontiers Inc. (NASDAQ: REFR) 9.75% HIGHER; Profiled in BusinessWeek
Tempur-Pedic (NYSE: TPX) 9% HIGHER; reported Q2 earnings of $0.39 per share, 4 cents better than estimates. ($0.35) Revenues came in at $257.6 million versus the consensus of $244.8 million. $200 million buyback. Sees 2007 EPS of $1.63-$1.66 versus the consensus of $1.56.
IMAX Corporation (NASDAQ: IMAX) 8% HIGHER; reports a Q1 loss of $0.12 compared to a restated net loss of ($0.15) per diluted share from continuing operations for the first quarter of fiscal 2006. (Q1 EPS consensus is a loss of $0.14). Revenues were $27.16 million vs. consensus of $21.78 million.
Kinetic Concepts, Inc. (NYSE: KCI) 8% HIGHER; reports Q2 EPS of $0.81, 7 cents better than estimates. Revenues were $396.7 million vs. $374.67 million consensus. KCI is increasing its projections for 2007 total revenue to $1.56 - $1.59 billion vs. consensus of $1.54 billion. The Company is also raising its projections for net earnings per diluted share for 2007 to $3.10 - $3.20 per share vs. $3.10 consensus.
Packeteer (NASDAQ: PKTR) 7.7% LOWER; reported Q2 adj-loss of $0.08 per share, 8 cents worse than estimates. ($0.00) Revenues came in at $32.4 million versus the consensus of $37.0 million.
Caterpillar Inc. (NYSE: CAT) 7.5% LOWER; reports Q2 EPS of $1.24, versus the consensus of $1.48. Revenues came in at $11.36 billion versus the consensus of $11.11 billion. Sees FY EPS of $5.30-$5.80, versus the consensus of $5.59. The company expects full-year sales and revenues of about $44 billion, versus the consensus of $43.77 billion.
Google (NASDAQ: GOOG) 7% LOWER; reported Q2 earnings of $3.56 per share, versus the consensus of $3.59. Total revenues came in at $3.87 billion. Revs ex-TAC at $2.72 billion versus the consensus of $2.68 billion.
Brunswick Corporation (NYSE: BC) 7% LOWER; announced it was lowering production of marine products in the second half of 2007 due to continued weakness in retail markets in the United States. Primarily due to the lower production levels planned for the second half of the year, the company is reducing its earnings estimate for 2007 to a range of $1.20 to $1.35 per diluted share from continuing operations. Previously, the company had estimated diluted earnings per share from continuing operations of $1.65 to $2.00 for 2007. (Consensus is $1.70)
Watsco, Inc. (NYSE: WSO) 6.5% LOWER; revised its 2007 earnings guidance, updated the status of its previously announced tender offer to purchase ACR Group, Inc. and reported that it has divested of its non-core staffing unit. Second quarter earnings per share is estimated to be $0.87-0.88 vs. consensus of $1.06. Watsco announced today that its earnings per share guidance for the year ended December 31, 2007 is revised to $2.70 to $2.80 per diluted share compared to the previously communicated range of $3.25 to $3.35 per diluted share. (Consensus is $3.17)
Limelight Networks (Nasdaq: LLNW) 6.5% HIGHER; Goldman Sachs upgrades Limelight Networks from Neutral to Buy.
SanDisk (NASDAQ: SNDK) 6% HIGHER; reported Q2 earnings of $0.30 per share, 15 cents better than estimates. ($0.15) Revenues came in at $827 million versus the consensus of $792.9 million. Sees Q3 sales of $915-$940 million versus the consensus of $908.9 million. Says Q3 cash flow will remain strong.
Xilinx (NASDAQ: XLNX) 4.8% LOWER; reported Q1 earnings of $0.28 per share, 1 cent worse than estimates. ($0.29) Revenues came in at $445.9 million. Sees Q2 revs unchanged to down slightly sequentially. Sees Q2 gross margins 62%-63%.
PMC-Sierra (NASDAQ: PMCS) 4% HIGHER; reported Q2 adj-EPS of $0.03 per share, versus the consensus of $0.03. Revenues came in at $104.7 million versus the consensus of $107.9 million.
American Home Mortgage Investment Corp. (NYSE: AHM) 11.5% HIGHER; Recovers some of yesterday's 21% loss which was related to rumors a bank pulled a credit line. Analysts defend stock.
First Solar, Inc. (Nasdaq: FSLR) 4% LOWER; filed a registration statement with the SEC for a proposed offering of up to 9,650,000 shares of its common stock. The 9,650,000 shares to be registered include 5,650,000 shares owned by certain stockholders of the Company.
Advanced Micro (NYSE: AMD) 3% HIGHER; reported Q2 loss of $0.85 per share, ex-item, versus the consensus of a loss of $0.85. Revenues came in at $1.378 billion versus the consensus of $1.26 billion.
Gilead Sciences (NASDAQ: GILD) 1.5% LOWER; reported Q2 earnings of $0.42 per share, versus the consensus of $0.39. Revenues came in at $1.05 billion versus the consensus of $1.02 billion.
Baidu.com, Inc. (NASDAQ: BIDU) 1.3% LOWER; Down in sympathy with Goggle.
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