Pre-Open Movers 11/27: Arbitron (ARB) Sinks On Outlook; Activision (ATVI) Up On Raised Guidance, Citi (C) Gets Cash Infusion
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StreetInsider.com Pre-Open Movers:
Arbitron Inc. (NYSE: ARB) 13.5% LOWER; to Delay Commercialization of the Portable People Meter Radio Ratings Service in New York, Los Angeles, Chicago, San Francisco and Dallas. As a result of its decision to delay further implementation of the Portable People Meter service, the Company is updating its previously issued guidance to reflect the resultant financial impact. Earnings per share (diluted) for 2007 are currently estimated to be between $1.30 and $1.35 as compared to its previously issued earnings per share guidance of $1.35 to $1.45.
Staples, Inc. (Nasdaq: SPLS) 9.6% HIGHER; reports Q3 EPS of $0.42, above the consensus of $0.40. Sales rose 9% to $5.2 billion, versus the consensus of $5.18 billion. Staples expects to achieve earnings per share growth of approximately 15 percent for both the fourth quarter and the full year.
Activision, Inc. (Nasdaq: ATVI) 9% HIGHER; is raising its net revenue and earnings per diluted share outlook for the third quarter, ending December 31, 2007, and fiscal year 2008, citing a better than expected consumer response to its holiday slate worldwide. Activision's performance was driven by the success of Guitar Hero III.
BigBand Networks, Inc. (Nasdaq: BBND) 6% HIGHER; Selected by Five Chinese Cable Operators for Digital TV Expansion
IRIS International Inc. (Nasdaq: IRIS) 5.7% LOWER; files a $125M mixed securities shelf on form S-3 with the SEC. The offering will be made up of common stock, preferred stock and debt securities.
Mylan, Inc. (NYSE: MYL) 3% HIGHER; Goldman Sachs upgrades Mylan from Neutral to Buy.
Countrywide Financial Corp. (NYSE: CFC) 3% HIGHER; Fox-Pitt said the Federal Home Loan Bank of Atlanta will unlikely halt lending to Countrywide Financial.
Top Tankers Inc. (Nasdaq: TOPT) 1.3% LOWER; files to offer 21,000,000 shares of common stock. Deutsche Bank is the sole bookrunner.
Citi (NYSE: C) 1% HIGHER; reached an agreement to sell Equity Units, with mandatory conversion into common shares, in a private placement to the Abu Dhabi Investment Authority, a long-term investor committed to the U.S. capital markets, in the amount of $7.5 billion.
Tesoro Corporation (NYSE: TSO) INDICATED LOWER; Tracinda Corporation is withdrawing its cash tender offer at $64.00 per share for up to 21,875,000 shares, or approximately 16% of the outstanding shares, of Tesoro Corporation (NYSE: TSO) common stock.
Casual Male Retail Group, Inc. (Nasdaq: CMRG) INDICATED LOWER; reports Q3 loss of $0.05, ex-items, versus the consensus of a $0.01 loss. Revenues came in at $106.6 million, versus the consensus of $110.09 million. Casual Male sees FY08 EPS of $0.28-$0.33, versus the consensus of $0.40
Donaldson Company Inc. (NYSE: DCI) INDICATED HIGHER; reports Q1 EPS of $0.53, 5 above the consensus of $0.48. Revenue came in at $525.6 million, versus the consensus of $484.8 million.
Arbitron Inc. (NYSE: ARB) 13.5% LOWER; to Delay Commercialization of the Portable People Meter Radio Ratings Service in New York, Los Angeles, Chicago, San Francisco and Dallas. As a result of its decision to delay further implementation of the Portable People Meter service, the Company is updating its previously issued guidance to reflect the resultant financial impact. Earnings per share (diluted) for 2007 are currently estimated to be between $1.30 and $1.35 as compared to its previously issued earnings per share guidance of $1.35 to $1.45.
Staples, Inc. (Nasdaq: SPLS) 9.6% HIGHER; reports Q3 EPS of $0.42, above the consensus of $0.40. Sales rose 9% to $5.2 billion, versus the consensus of $5.18 billion. Staples expects to achieve earnings per share growth of approximately 15 percent for both the fourth quarter and the full year.
Activision, Inc. (Nasdaq: ATVI) 9% HIGHER; is raising its net revenue and earnings per diluted share outlook for the third quarter, ending December 31, 2007, and fiscal year 2008, citing a better than expected consumer response to its holiday slate worldwide. Activision's performance was driven by the success of Guitar Hero III.
BigBand Networks, Inc. (Nasdaq: BBND) 6% HIGHER; Selected by Five Chinese Cable Operators for Digital TV Expansion
IRIS International Inc. (Nasdaq: IRIS) 5.7% LOWER; files a $125M mixed securities shelf on form S-3 with the SEC. The offering will be made up of common stock, preferred stock and debt securities.
Mylan, Inc. (NYSE: MYL) 3% HIGHER; Goldman Sachs upgrades Mylan from Neutral to Buy.
Countrywide Financial Corp. (NYSE: CFC) 3% HIGHER; Fox-Pitt said the Federal Home Loan Bank of Atlanta will unlikely halt lending to Countrywide Financial.
Top Tankers Inc. (Nasdaq: TOPT) 1.3% LOWER; files to offer 21,000,000 shares of common stock. Deutsche Bank is the sole bookrunner.
Citi (NYSE: C) 1% HIGHER; reached an agreement to sell Equity Units, with mandatory conversion into common shares, in a private placement to the Abu Dhabi Investment Authority, a long-term investor committed to the U.S. capital markets, in the amount of $7.5 billion.
Tesoro Corporation (NYSE: TSO) INDICATED LOWER; Tracinda Corporation is withdrawing its cash tender offer at $64.00 per share for up to 21,875,000 shares, or approximately 16% of the outstanding shares, of Tesoro Corporation (NYSE: TSO) common stock.
Casual Male Retail Group, Inc. (Nasdaq: CMRG) INDICATED LOWER; reports Q3 loss of $0.05, ex-items, versus the consensus of a $0.01 loss. Revenues came in at $106.6 million, versus the consensus of $110.09 million. Casual Male sees FY08 EPS of $0.28-$0.33, versus the consensus of $0.40
Donaldson Company Inc. (NYSE: DCI) INDICATED HIGHER; reports Q1 EPS of $0.53, 5 above the consensus of $0.48. Revenue came in at $525.6 million, versus the consensus of $484.8 million.
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