After-Hours Movers 12/17: Synovus (SNV) Lower on Profit Warning, Range Resources (RRC) Higher on S&P 500 Addition
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StreetInsider.com After-Hours Movers:
Synovus (NYSE: SNV) 11% LOWER; expects to report earnings below its previously issued guidance of approximately $1.83 per share, excluding TSYS spin-related costs. The company said, based upon continued deterioration in the housing sector, Synovus' key credit indicators are expected to show continued negative pressure during the fourth quarter of 2007. Synovus will require additional loan loss provision expense.
Range Resources Corp. (NYSE: RRC) 3.7% HIGHER; will replace Tribune Co. (NYSE: TRB) in the S&P 500 after the close of trading on Thursday, December 20. Tribune is being taken private in a deal expected to close on or about that date, pending final approvals.
WellCare Health Plans, Inc. (NYSE: WCG) 3% LOWER; continues today 8.7% drop, which was related to fears of more negative new related to the DOJ probe.
United Rentals, Inc. (NYSE: URI) 3% HIGHER; continues today's 3% move on hopes of a settlement agreement related to the terminated merger deal with Cerberus Capital. Today, United Rentals said the trial against Cerberus Capital will be postponed for one day by mutual consent of the parties.
Adobe Systems Inc. (Nasdaq: ADBE) 2.45% LOWER; reports Q4 EPS of $0.49, 1 cent better than estimates. Revenues came in at $911.2 million, versus the consensus of $887.3 million. Adobe also reaffirmed its target for FY08 revenue plan. Adobe also announced they raised their buyback plan by 30 million shares.
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Synovus (NYSE: SNV) 11% LOWER; expects to report earnings below its previously issued guidance of approximately $1.83 per share, excluding TSYS spin-related costs. The company said, based upon continued deterioration in the housing sector, Synovus' key credit indicators are expected to show continued negative pressure during the fourth quarter of 2007. Synovus will require additional loan loss provision expense.
Range Resources Corp. (NYSE: RRC) 3.7% HIGHER; will replace Tribune Co. (NYSE: TRB) in the S&P 500 after the close of trading on Thursday, December 20. Tribune is being taken private in a deal expected to close on or about that date, pending final approvals.
WellCare Health Plans, Inc. (NYSE: WCG) 3% LOWER; continues today 8.7% drop, which was related to fears of more negative new related to the DOJ probe.
United Rentals, Inc. (NYSE: URI) 3% HIGHER; continues today's 3% move on hopes of a settlement agreement related to the terminated merger deal with Cerberus Capital. Today, United Rentals said the trial against Cerberus Capital will be postponed for one day by mutual consent of the parties.
Adobe Systems Inc. (Nasdaq: ADBE) 2.45% LOWER; reports Q4 EPS of $0.49, 1 cent better than estimates. Revenues came in at $911.2 million, versus the consensus of $887.3 million. Adobe also reaffirmed its target for FY08 revenue plan. Adobe also announced they raised their buyback plan by 30 million shares.
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