StreetInsider.com Pre-Open Movers 6/7: (ROSG) (CCUR) (RALY) Higher; (TIVO) (IRM) (ZQK) Lower (more...)
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TiVo Inc. (NASDAQ: TIVO) 18.5% LOWER; Google and Cisco will pay TiVo an upfront lump-sum payment of $490 million. The settlement was less than some estimates of up to $1 billion.
Rosetta Genomics Ltd. (Nasdaq: ROSG) 15.1% HIGHER; announces that the Company has executed a credentialing agreement with Three Rivers Provider Network, Inc. (TRPN) of Chula Vista, Calif., for the Rosetta Cancer Origin Test. TRPN is one of the largest supplemental Preferred Provider Organizations (PPO) in the U.S., providing healthcare benefits to more than 10 million members nationwide.
Iron Mountain Inc. (NYSE: IRM) 14.7% LOWER; Makes Case to IRS Regarding REIT Conversion; IRS was 'Tentatively Adverse
Quiksilver, Inc. (NYSE: ZQK) 10.% LOWER; reported Q2 EPS of ($0.19), $0.23 worse than the analyst estimate of $0.04. Revenue for the quarter came in at $49 million versus the consensus estimate of $505.36 million.'
Lamar Advertising Co (NASDAQ: LAMR) 8.8% LOWER; The Company has been advised by the IRS in the course of discussions relating to its request for a private letter ruling that the IRS has decided to study the current legal standards it uses to define “real estate” for purposes of the REIT provisions of the U.S. Internal Revenue Code of 1986, as amended (the “Code”). It is the Company’s understanding that the IRS intends to determine if any changes or refinements should be made to those current legal standards. Based on its discussions with the IRS, the Company has no reason to conclude that it will not be in a position to complete the previously announced plan to convert to a REIT effective January 1, 2014.
Concurrent Computer Corp. (NASDAQ: CCUR) 8% HIGHER; declared a quarterly dividend of $0.12 per share, or $0.48 annualized. This is a 100% increase from the prior dividend of $0.06.
Equinix, Inc. (Nasdaq: EQIX) 7.9% LOWER; The IRS has recently informed Equinix that the IRS has convened an internal working group to study what constitutes "real estate" for purposes of the REIT provisions of the Internal Revenue Code of 1986, as amended (the Code), and that, pending the completion of the study, the IRS is unlikely to issue PLRs on what constitutes real estate for REIT purposes. Equinix cannot predict when the IRS working group will complete its study or what the outcome of the study will be. However, Equinix continues to believe, based on both existing legal precedent and the fact that other data center companies currently operate as REITs, that its data center assets constitute real estate for REIT purposes.
Vail Resorts, Inc. (NYSE: MTN) 4.3% LOWER; reported Q3 EPS of $2.66, $0.08 worse than the analyst estimate of $2.74. Revenue for the quarter came in at $469.7 million versus the consensus estimate of $474.17 million.
RealD (NYSE: RLD) 4% HIGHER; reported Q4 EPS of ($0.09), $0.10 better than the analyst estimate of ($0.19). Revenue for the quarter came in at $45.4 million versus the consensus estimate of $42.97 million.
Rally Software Development Corp (NYSE: RALY) 3.2% HIGHER; reported Q1 EPS of ($0.86), $0.20 better than the analyst estimate of ($1.06). Revenue for the quarter came in at $13.4 million versus the consensus estimate of $14.81 million. Rally Software Development Corp sees Q2 2014 EPS of $-0.21--0.19, versus the consensus of $-0.22. Rally Software Development Corp sees Q2 2014 revenue of $17.25-17.75 million, versus the consensus of $16.4 million. Rally Software Development Corp sees FY2014 EPS of $-1.04--1.01, versus the consensus of $-1.14. Rally Software Development Corp sees FY2014 revenue of $71.0-73.0 million, versus the consensus of $68.1 million.
Gap, Inc. (NYSE: GPS) 2.9% HIGHER; comps up 7%
Penn National Gaming Inc. (NASDAQ: PENN) 2.9% LOWER; related to IRS REIT conversion worries.
Aircastle Limited (NYSE: AYR) 2.8% HIGHER; entered into a definitive agreement with Marubeni Corporation providing for the issuance of approximately 15.25% of the Company's common shares, after giving effect to the issuance, at a price of $17.00 per share, for gross proceeds of approximately $209 million.
MannKind Corp. (NASDAQ: MNKD) 2.6% LOWER; BofA/Merrill Lynch downgraded MannKind from Buy to Neutral.
Brocade Communications (NASDAQ: BRCD) 2.5% HIGHER; ISI Group upgraded Brocade from Neutral to Buy with a price target of $7.50
Cooper Cos. (NYSE: COO) 2.5% HIGHER; reported Q2 EPS of $1.50, $0.12 better than the analyst estimate of $1.38. Revenue for the quarter came in at $384 million versus the consensus estimate of $389.14 million. Cooper Cos. sees FY2013 EPS of $6.15-6.25, versus prior guidance of $5.95-6.10 and the consensus of $6.05. Cooper Cos. sees FY2013 revenue of $1.575-1.605 billion, versus prior guidance of $1.575-1.625 billion and the consensus of $1.61 billion.
Rite Aid Corporation (NYSE: RAD) 2.4% HIGHER;commenced a debt refinancing transaction that would extend the maturity of a portion of Rite Aids outstanding indebtedness and lower interest expense. Also guides Q1 above views.
Arena Pharmaceuticals, Inc. (NASDAQ: ARNA) 1.6% HIGHER; reported on the launch of BELVIQ (pronounced BEL-VEEK) in the United States. BELVIQ will be available to patients by prescription in US pharmacies beginning June 11
GameStop (NYSE: GME) 1.4% HIGHER; XBox One will allow for used game trade-ins.
Rosetta Genomics Ltd. (Nasdaq: ROSG) 15.1% HIGHER; announces that the Company has executed a credentialing agreement with Three Rivers Provider Network, Inc. (TRPN) of Chula Vista, Calif., for the Rosetta Cancer Origin Test. TRPN is one of the largest supplemental Preferred Provider Organizations (PPO) in the U.S., providing healthcare benefits to more than 10 million members nationwide.
Iron Mountain Inc. (NYSE: IRM) 14.7% LOWER; Makes Case to IRS Regarding REIT Conversion; IRS was 'Tentatively Adverse
Quiksilver, Inc. (NYSE: ZQK) 10.% LOWER; reported Q2 EPS of ($0.19), $0.23 worse than the analyst estimate of $0.04. Revenue for the quarter came in at $49 million versus the consensus estimate of $505.36 million.'
Lamar Advertising Co (NASDAQ: LAMR) 8.8% LOWER; The Company has been advised by the IRS in the course of discussions relating to its request for a private letter ruling that the IRS has decided to study the current legal standards it uses to define “real estate” for purposes of the REIT provisions of the U.S. Internal Revenue Code of 1986, as amended (the “Code”). It is the Company’s understanding that the IRS intends to determine if any changes or refinements should be made to those current legal standards. Based on its discussions with the IRS, the Company has no reason to conclude that it will not be in a position to complete the previously announced plan to convert to a REIT effective January 1, 2014.
Concurrent Computer Corp. (NASDAQ: CCUR) 8% HIGHER; declared a quarterly dividend of $0.12 per share, or $0.48 annualized. This is a 100% increase from the prior dividend of $0.06.
Equinix, Inc. (Nasdaq: EQIX) 7.9% LOWER; The IRS has recently informed Equinix that the IRS has convened an internal working group to study what constitutes "real estate" for purposes of the REIT provisions of the Internal Revenue Code of 1986, as amended (the Code), and that, pending the completion of the study, the IRS is unlikely to issue PLRs on what constitutes real estate for REIT purposes. Equinix cannot predict when the IRS working group will complete its study or what the outcome of the study will be. However, Equinix continues to believe, based on both existing legal precedent and the fact that other data center companies currently operate as REITs, that its data center assets constitute real estate for REIT purposes.
Vail Resorts, Inc. (NYSE: MTN) 4.3% LOWER; reported Q3 EPS of $2.66, $0.08 worse than the analyst estimate of $2.74. Revenue for the quarter came in at $469.7 million versus the consensus estimate of $474.17 million.
RealD (NYSE: RLD) 4% HIGHER; reported Q4 EPS of ($0.09), $0.10 better than the analyst estimate of ($0.19). Revenue for the quarter came in at $45.4 million versus the consensus estimate of $42.97 million.
Rally Software Development Corp (NYSE: RALY) 3.2% HIGHER; reported Q1 EPS of ($0.86), $0.20 better than the analyst estimate of ($1.06). Revenue for the quarter came in at $13.4 million versus the consensus estimate of $14.81 million. Rally Software Development Corp sees Q2 2014 EPS of $-0.21--0.19, versus the consensus of $-0.22. Rally Software Development Corp sees Q2 2014 revenue of $17.25-17.75 million, versus the consensus of $16.4 million. Rally Software Development Corp sees FY2014 EPS of $-1.04--1.01, versus the consensus of $-1.14. Rally Software Development Corp sees FY2014 revenue of $71.0-73.0 million, versus the consensus of $68.1 million.
Gap, Inc. (NYSE: GPS) 2.9% HIGHER; comps up 7%
Penn National Gaming Inc. (NASDAQ: PENN) 2.9% LOWER; related to IRS REIT conversion worries.
Aircastle Limited (NYSE: AYR) 2.8% HIGHER; entered into a definitive agreement with Marubeni Corporation providing for the issuance of approximately 15.25% of the Company's common shares, after giving effect to the issuance, at a price of $17.00 per share, for gross proceeds of approximately $209 million.
MannKind Corp. (NASDAQ: MNKD) 2.6% LOWER; BofA/Merrill Lynch downgraded MannKind from Buy to Neutral.
Brocade Communications (NASDAQ: BRCD) 2.5% HIGHER; ISI Group upgraded Brocade from Neutral to Buy with a price target of $7.50
Cooper Cos. (NYSE: COO) 2.5% HIGHER; reported Q2 EPS of $1.50, $0.12 better than the analyst estimate of $1.38. Revenue for the quarter came in at $384 million versus the consensus estimate of $389.14 million. Cooper Cos. sees FY2013 EPS of $6.15-6.25, versus prior guidance of $5.95-6.10 and the consensus of $6.05. Cooper Cos. sees FY2013 revenue of $1.575-1.605 billion, versus prior guidance of $1.575-1.625 billion and the consensus of $1.61 billion.
Rite Aid Corporation (NYSE: RAD) 2.4% HIGHER;commenced a debt refinancing transaction that would extend the maturity of a portion of Rite Aids outstanding indebtedness and lower interest expense. Also guides Q1 above views.
Arena Pharmaceuticals, Inc. (NASDAQ: ARNA) 1.6% HIGHER; reported on the launch of BELVIQ (pronounced BEL-VEEK) in the United States. BELVIQ will be available to patients by prescription in US pharmacies beginning June 11
GameStop (NYSE: GME) 1.4% HIGHER; XBox One will allow for used game trade-ins.
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