Pre-Open Movers 11/16: Garmin (GRMN) Surges After Dropping Bid, FedEx (FDX) Cuts Guidance
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StreetInsider.com Pre-Open Movers:
Acacia Research (Nasdaq: ACTG) 24% LOWER; Reports Microsoft won a Texas patent trial against the company.
Garmin Ltd. (Nasdaq: GRMN) 24% HIGHER; announced today that it has signed a six-year extension to their agreement with NAVTEQ (NYSE: NVT). Garmin also said its does not intend to pursue its offer for Tele Atlas.
The9 Limited (Nasdaq: NCTY) 13% LOWER; reported Q3 EPS of $0.17, versus the analyst estimate of $0.21. Revenues for the quarter were $42.2 million, versus the consensus of $40.59 million.
Steak n\' Shake (NYSE: SNS) 11% LOWER; reported Q4 EPS of $0.07, 3 cents lower than the analyst estimate of $0.10. Revenues for the quarter were $151.1 million, versus the consensus of $152.97 million.
Jack In The Box (NYSE: JBX) 9% HIGHER; reports Q4 earnings of $0.43 per share, 5 cents better than estimates. Revenues came in at $678.4 million versus the consensus of $684.4 million. Jack In The Box sees FY08 EPS of $1.98-$2.06, which includes items and may not compare to the consensus of $1.98.
American Railcar Industries (Nasdaq: ARII) 8% HIGHER; Carl Icahn buys another 165k shares brining his stake to 11.3M shares
China Digital TV Holding (NYSE: STV) 8% LOWER; reported Q3 EPS of $0.20, up from $0.10 last year. Revenues for the quarter were $14.4 million, a 37.3% increase from the same period last year. China Digital expects Q4 revenues of $15.5 to $17.5 million.
Starbucks (Nasdaq: SBUX) 8% LOWER; reported Q4 EPS of $0.21, in-line with the analyst estimate of $0.21. Revenues for the quarter were $2.44 billion, versus the consensus of $2.42 billion. Starbucks expects Q1 EPS of $0.28, versus the consensus of $0.31 and FY08 EPS of $1.02 to $1.05, versus the consensus of $1.05.
China Techfaith (Nasdaq: CNTF) 7% HIGHER; Jefferies upgrades to Buy
Starbucks (Nasdaq: SBUX) 6% LOWER; reported Q4 EPS of $0.21, in-line with the analyst estimate of $0.21. Revenues for the quarter were $2.44 billion, versus the consensus of $2.42 billion. Starbucks expects Q1 EPS of $0.28, versus the consensus of $0.31 and FY08 EPS of $1.02 to $1.05, versus the consensus of $1.05.
FedEx Corp. (NYSE: FDX) 5% LOWER; sees second quarter EPS of $1.45 to $1.55, versus their prior guidance of $1.60 to $1.75. For the year, FedEx sees EPS of $6.40 to $6.70, versus their prior guidance of $6.70 to $7.10. Cites high fuel costs, among other things.
DryShips, Inc. (Nasdaq: DRYS) 4% HIGHER; Cantor raises price target.
Tyco Electronics (NYSE: TEL) 4% HIGHER; reported Q4 EPS of $0.59, 5 cents better than the analyst estimate of $0.54. Revenues for the quarter were $3.6 billion, versus the consensus of $3.43 billion. Tyco expects FY08 EPS of $2.23 to $2.33 (ex-items, $2.40 to $2.50), versus the consensus of $2.34.
Quanta Services Inc. (NYSE: PWR) 2.8% HIGHER; Cramer highlights on Mad Money
Marathon Oil Corp. (NYSE: MRO) 2.7% HIGHER; Deutsche Bank upgrades to Buy
GameStop (NYSE: GME) 2.6% LOWER; Piper Jaffray downgrades from Buy to Neutral and reduced its price target from $68 to $59.
Advanced Micro Devices Inc. (NYSE: AMD) 2.4% HIGHER; announces $622M investment by Mubadala, takes 8.1% stake.
Cisco (Nasdaq: CSCO) 2% HIGHER; said its board authorized up to $10 billion in additional repurchases of its common stock, increasing the total authorized amount under the program to $62 billion.
Coley Pharmaceutical Group, Inc. (Nasdaq: COLY) INDICATED HIGHER; Pfizer (NYSE: PFE) to acquire Coley Pharmaceutical (Nasdaq: COLY) for $8 per share. COLY closed at $3 yesterday.
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Acacia Research (Nasdaq: ACTG) 24% LOWER; Reports Microsoft won a Texas patent trial against the company.
Garmin Ltd. (Nasdaq: GRMN) 24% HIGHER; announced today that it has signed a six-year extension to their agreement with NAVTEQ (NYSE: NVT). Garmin also said its does not intend to pursue its offer for Tele Atlas.
The9 Limited (Nasdaq: NCTY) 13% LOWER; reported Q3 EPS of $0.17, versus the analyst estimate of $0.21. Revenues for the quarter were $42.2 million, versus the consensus of $40.59 million.
Steak n\' Shake (NYSE: SNS) 11% LOWER; reported Q4 EPS of $0.07, 3 cents lower than the analyst estimate of $0.10. Revenues for the quarter were $151.1 million, versus the consensus of $152.97 million.
Jack In The Box (NYSE: JBX) 9% HIGHER; reports Q4 earnings of $0.43 per share, 5 cents better than estimates. Revenues came in at $678.4 million versus the consensus of $684.4 million. Jack In The Box sees FY08 EPS of $1.98-$2.06, which includes items and may not compare to the consensus of $1.98.
American Railcar Industries (Nasdaq: ARII) 8% HIGHER; Carl Icahn buys another 165k shares brining his stake to 11.3M shares
China Digital TV Holding (NYSE: STV) 8% LOWER; reported Q3 EPS of $0.20, up from $0.10 last year. Revenues for the quarter were $14.4 million, a 37.3% increase from the same period last year. China Digital expects Q4 revenues of $15.5 to $17.5 million.
Starbucks (Nasdaq: SBUX) 8% LOWER; reported Q4 EPS of $0.21, in-line with the analyst estimate of $0.21. Revenues for the quarter were $2.44 billion, versus the consensus of $2.42 billion. Starbucks expects Q1 EPS of $0.28, versus the consensus of $0.31 and FY08 EPS of $1.02 to $1.05, versus the consensus of $1.05.
China Techfaith (Nasdaq: CNTF) 7% HIGHER; Jefferies upgrades to Buy
Starbucks (Nasdaq: SBUX) 6% LOWER; reported Q4 EPS of $0.21, in-line with the analyst estimate of $0.21. Revenues for the quarter were $2.44 billion, versus the consensus of $2.42 billion. Starbucks expects Q1 EPS of $0.28, versus the consensus of $0.31 and FY08 EPS of $1.02 to $1.05, versus the consensus of $1.05.
FedEx Corp. (NYSE: FDX) 5% LOWER; sees second quarter EPS of $1.45 to $1.55, versus their prior guidance of $1.60 to $1.75. For the year, FedEx sees EPS of $6.40 to $6.70, versus their prior guidance of $6.70 to $7.10. Cites high fuel costs, among other things.
DryShips, Inc. (Nasdaq: DRYS) 4% HIGHER; Cantor raises price target.
Tyco Electronics (NYSE: TEL) 4% HIGHER; reported Q4 EPS of $0.59, 5 cents better than the analyst estimate of $0.54. Revenues for the quarter were $3.6 billion, versus the consensus of $3.43 billion. Tyco expects FY08 EPS of $2.23 to $2.33 (ex-items, $2.40 to $2.50), versus the consensus of $2.34.
Quanta Services Inc. (NYSE: PWR) 2.8% HIGHER; Cramer highlights on Mad Money
Marathon Oil Corp. (NYSE: MRO) 2.7% HIGHER; Deutsche Bank upgrades to Buy
GameStop (NYSE: GME) 2.6% LOWER; Piper Jaffray downgrades from Buy to Neutral and reduced its price target from $68 to $59.
Advanced Micro Devices Inc. (NYSE: AMD) 2.4% HIGHER; announces $622M investment by Mubadala, takes 8.1% stake.
Cisco (Nasdaq: CSCO) 2% HIGHER; said its board authorized up to $10 billion in additional repurchases of its common stock, increasing the total authorized amount under the program to $62 billion.
Coley Pharmaceutical Group, Inc. (Nasdaq: COLY) INDICATED HIGHER; Pfizer (NYSE: PFE) to acquire Coley Pharmaceutical (Nasdaq: COLY) for $8 per share. COLY closed at $3 yesterday.
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