Morning Movers 10/20: (NTCT) (SCSS) (NEOP) (AMLN) Higher; (PLCM) (CRUS) (NFX) (EGHT) Lower
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Polycom, Inc. (NASDAQ: PLCM) 33% LOWER; reported Q3 non-GAAP EPS of $0.26, $0.01 worse than the analyst estimate of $0.27. Revenue for the quarter came in at $379 million versus the consensus estimate of $388.35 million.
Netscout Systems, Inc. (NASDAQ: NTCT) 21.2% HIGHER; reported Q2 EPS of $0.24, $0.02 better than the analyst estimate of $0.22. Revenue for the quarter came in at $72.6 million versus the consensus estimate of $69.89 million. Maintains outlook.
Cirrus Logic, Inc. (NASDAQ: CRUS) 17.7% LOWER; reported Q2 EPS of $0.17, $0.16 worse than the analyst estimate of $0.33. Revenue for the quarter came in at $101.6 million versus the consensus estimate of $102.66 million. forecasts revenue for the third quarter to be between $102 million and $108 million, inline with the consensus of $107.98 million. Gross margin is expected to be between 53 percent and 55 percent for the quarter.
Newfield Exploration Co. (NYSE: NFX) 13.8% LOWER; reported Q3 EPS of $1.04, $0.11 worse than the analyst estimate of $1.15. Revenue for the quarter came in at $628 million versus the consensus estimate of $702.26 million.
Select Comfort Corp (NASDAQ: SCSS) 13.7% HIGHER; reported Q3 EPS of $0.31, $0.04 better than the analyst estimate of $0.27. Revenue for the quarter came in at $199.6 million versus the consensus estimate of $182.45 million. Select Comfort Corp sees Q4 2011 EPS of $0.19-$0.21, versus the consensus of $0.19. Select Comfort Corp raises FY2011 EPS to $0.99-$1.01, versus the consensus of $0.95.
8x8, Inc. (NASDAQ: EGHT) 13% LOWER; reported Q2 EPS of $0.01, $0.02 worse than the analyst estimate of $0.03. Revenue for the quarter came in at $19.8 million versus the consensus estimate of $18.94 million.
Neoprobe Corporation (NYSE: NEOP) 11.8% HIGHER; today announced that its New Drug Application (NDA) for Lymphoseek has been accepted for review by the U.S. Food and Drug Administration. Neoprobe submitted the Lymphoseek NDA on August 10, 2011.
Amylin Pharmaceuticals, Inc., (Nasdaq: AMLN) 10.9% HIGHER; and Eli Lilly and Company (NYSE: LLY) today announced that the U.S. FDA has approved a new use for BYETTA (exenatide) injection. BYETTA is now approved as an add-on therapy to insulin glargine, with or without metformin and/or a thiazolidinedione (TZD), in conjunction with diet and exercise for adults with type 2 diabetes who are not achieving adequate glycemic control on insulin glargine alone.
Swift Transportation (Nasdaq: SWFT) 9.8% HIGHER; reports Q3 EPS of $0.25, 3 cents better than the analyst estimate of $0.22. Revenue for the quarter came in at $863.8 million, versus the consensus estimate of $871.7 million.
Lam Research Corp (NASDAQ: LRCX) 9% LOWER; reported Q3 EPS of $0.58, $0.07 worse than the analyst estimate of $0.65. Revenue for the quarter came in at $680.44 million versus the consensus estimate of $670.9 million.
Westell Technologies (Nasdaq: WSTL) 8.9% LOWER; reports Q3 EPS of $0.02, 3 cents lower than the analyst estimate of $0.05. Revenue for the quarter came in at $31.2 million, versus the consensus estimate of $34.37 million.
Washington Federal, Inc. (NASDAQ: WFSL) 8.8% LOWER; reported Q4 EPS of $0.28, $0.01 worse than the analyst estimate of $0.29.
Riverbed Technology, Inc. (NASDAQ: RVBD) 8% HIGHER; reported Q3 EPS of $0.24, $0.03 better than the analyst estimate of $0.21. Revenue for the quarter came in at $191 million versus the consensus estimate of $185.22 million. Sees Q4 adj-EPS of 24-25 cents on sales of $198-$202 million. The Street is currently looking for EPS of 23 cents on sales of $200.3 million.
Astoria Financial Corp. (NYSE: AF) 8% LOWER; reported Q3 EPS of $0.12, $0.07 worse than the analyst estimate of $0.19.
HNI Corp. (NYSE: HNI) 7.7% LOWER; reported Q3 EPS of $0.55, $0.14 better than the analyst estimate of $0.41. Revenue for the quarter came in at $504.2 million versus the consensus estimate of $491.38 million. Sees Q4 sales up 2-5%. HNI Corp. sees FY2011 EPS of $1.00-$1.05, versus prior guidance of $0.90-$1.00 and the consensus of $0.94.
Acura Pharma (Nasdaq: ACUR) 6.6% LOWER; announced results of an evaluation of NEXAFED", a pseudoephedrine tablet formulation utilizing Acura's IMPEDE Technology. The test was designed to determine whether it is possible to extract the pseudoephedrine from NEXAFED and convert it into the street drug methamphetamine. The test was performed by scientists working with a law enforcement agency. The testing demonstrated that the IMPEDE technology blocked the extraction of pseudoephedrine in several tests that were conducted under various conditions. In one test method, however, an unknown amount of methamphetamine, with unknown purity, was produced. Acura is consulting with the agency on this initial outcome, and will perform its own tests to better understand this finding. As a result, Acura will delay its commercialization activities on NEXAFED pending these tests.
Netscout Systems, Inc. (NASDAQ: NTCT) 21.2% HIGHER; reported Q2 EPS of $0.24, $0.02 better than the analyst estimate of $0.22. Revenue for the quarter came in at $72.6 million versus the consensus estimate of $69.89 million. Maintains outlook.
Cirrus Logic, Inc. (NASDAQ: CRUS) 17.7% LOWER; reported Q2 EPS of $0.17, $0.16 worse than the analyst estimate of $0.33. Revenue for the quarter came in at $101.6 million versus the consensus estimate of $102.66 million. forecasts revenue for the third quarter to be between $102 million and $108 million, inline with the consensus of $107.98 million. Gross margin is expected to be between 53 percent and 55 percent for the quarter.
Newfield Exploration Co. (NYSE: NFX) 13.8% LOWER; reported Q3 EPS of $1.04, $0.11 worse than the analyst estimate of $1.15. Revenue for the quarter came in at $628 million versus the consensus estimate of $702.26 million.
Select Comfort Corp (NASDAQ: SCSS) 13.7% HIGHER; reported Q3 EPS of $0.31, $0.04 better than the analyst estimate of $0.27. Revenue for the quarter came in at $199.6 million versus the consensus estimate of $182.45 million. Select Comfort Corp sees Q4 2011 EPS of $0.19-$0.21, versus the consensus of $0.19. Select Comfort Corp raises FY2011 EPS to $0.99-$1.01, versus the consensus of $0.95.
8x8, Inc. (NASDAQ: EGHT) 13% LOWER; reported Q2 EPS of $0.01, $0.02 worse than the analyst estimate of $0.03. Revenue for the quarter came in at $19.8 million versus the consensus estimate of $18.94 million.
Neoprobe Corporation (NYSE: NEOP) 11.8% HIGHER; today announced that its New Drug Application (NDA) for Lymphoseek has been accepted for review by the U.S. Food and Drug Administration. Neoprobe submitted the Lymphoseek NDA on August 10, 2011.
Amylin Pharmaceuticals, Inc., (Nasdaq: AMLN) 10.9% HIGHER; and Eli Lilly and Company (NYSE: LLY) today announced that the U.S. FDA has approved a new use for BYETTA (exenatide) injection. BYETTA is now approved as an add-on therapy to insulin glargine, with or without metformin and/or a thiazolidinedione (TZD), in conjunction with diet and exercise for adults with type 2 diabetes who are not achieving adequate glycemic control on insulin glargine alone.
Swift Transportation (Nasdaq: SWFT) 9.8% HIGHER; reports Q3 EPS of $0.25, 3 cents better than the analyst estimate of $0.22. Revenue for the quarter came in at $863.8 million, versus the consensus estimate of $871.7 million.
Lam Research Corp (NASDAQ: LRCX) 9% LOWER; reported Q3 EPS of $0.58, $0.07 worse than the analyst estimate of $0.65. Revenue for the quarter came in at $680.44 million versus the consensus estimate of $670.9 million.
Westell Technologies (Nasdaq: WSTL) 8.9% LOWER; reports Q3 EPS of $0.02, 3 cents lower than the analyst estimate of $0.05. Revenue for the quarter came in at $31.2 million, versus the consensus estimate of $34.37 million.
Washington Federal, Inc. (NASDAQ: WFSL) 8.8% LOWER; reported Q4 EPS of $0.28, $0.01 worse than the analyst estimate of $0.29.
Riverbed Technology, Inc. (NASDAQ: RVBD) 8% HIGHER; reported Q3 EPS of $0.24, $0.03 better than the analyst estimate of $0.21. Revenue for the quarter came in at $191 million versus the consensus estimate of $185.22 million. Sees Q4 adj-EPS of 24-25 cents on sales of $198-$202 million. The Street is currently looking for EPS of 23 cents on sales of $200.3 million.
Astoria Financial Corp. (NYSE: AF) 8% LOWER; reported Q3 EPS of $0.12, $0.07 worse than the analyst estimate of $0.19.
HNI Corp. (NYSE: HNI) 7.7% LOWER; reported Q3 EPS of $0.55, $0.14 better than the analyst estimate of $0.41. Revenue for the quarter came in at $504.2 million versus the consensus estimate of $491.38 million. Sees Q4 sales up 2-5%. HNI Corp. sees FY2011 EPS of $1.00-$1.05, versus prior guidance of $0.90-$1.00 and the consensus of $0.94.
Acura Pharma (Nasdaq: ACUR) 6.6% LOWER; announced results of an evaluation of NEXAFED", a pseudoephedrine tablet formulation utilizing Acura's IMPEDE Technology. The test was designed to determine whether it is possible to extract the pseudoephedrine from NEXAFED and convert it into the street drug methamphetamine. The test was performed by scientists working with a law enforcement agency. The testing demonstrated that the IMPEDE technology blocked the extraction of pseudoephedrine in several tests that were conducted under various conditions. In one test method, however, an unknown amount of methamphetamine, with unknown purity, was produced. Acura is consulting with the agency on this initial outcome, and will perform its own tests to better understand this finding. As a result, Acura will delay its commercialization activities on NEXAFED pending these tests.
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