Largest Net $ Movers of Note 06/28
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UPWARD MOVERS:
J. Crew (NYSE: JCG) $4.91; Today's IPO debut on the NYSE. The stock priced at $20 per share, above the expected $15-$17 range.
Andersons Inc. (Nasdaq: ANDE) $4.29; Ethanol momentum play moving higher after oil inventories were reported at 10:30AM this morning which showed a larger draw-down than expected.
Penn National Gaming Inc. (Nasdaq: PENN) +$3.35; Stock moving higher on unconfirmed reports that (Pennsylvania) State gambling regulators voted to allow slot-machine distributors to operate state-wide, settling an internal dispute that had threatened to stall plans for PENN's first slot parlors to open this year.
Southern Copper Corp. (NYSE: PCU) +$2.57; Stock continues higher on recent momentum. Copper Index is trading up 1.5% today.
Penford Corporation (Nasdaq: PENX) +$1.96; The Company announced plans to invest $42 million for approximately 40 million gallons of ethanol production capacity at its Cedar Rapids, Iowa, facility. (Note - light volume)
DOWNWARD MOVERS:
HB Fuller Co. (NYSE: FUL) -$6.95; Company reported Q2 EPS of $0.65, in-line with estimates. Revenues were $388.5 million vs. $418.65 million consensus. Company sees FY06 EPS between $2.49-2.59 vs. $2.66 consensus.
Nike Inc. (NYSE: NKE) -$3.24; reports Q4 EPS of $1.39, 1 cent worse than estimates.(1.40) Revenues were $4.01 billion vs. $3.97 billion consensus.
Rambus Inc. (Nasdaq: RMBS) -$2.70; The Rambus Audit Committee has reached a preliminary conclusion that the actual measurement dates for certain stock option grants issued in prior years differ from the recorded grant dates for such awards. As a result, Rambus may need to record additional non-cash charges for stock-based compensation expense related to those prior periods. The Audit Committee has not yet completed its investigation.
NETGEAR (Nasdaq: NTGR) -$2.51; Citigroup downgrades Netgear, Inc. (Nasdaq: NTGR) from Buy to Hold with a $26 price target. Says expectations for a strong quarter are already built in.
The Cheesecake Factory (Nasdaq: CAKE) -$2.06; Expects flat to slightly negative comparable sales and an approximate 12% increase in revenues for the second quarter of fiscal 2006.
J. Crew (NYSE: JCG) $4.91; Today's IPO debut on the NYSE. The stock priced at $20 per share, above the expected $15-$17 range.
Andersons Inc. (Nasdaq: ANDE) $4.29; Ethanol momentum play moving higher after oil inventories were reported at 10:30AM this morning which showed a larger draw-down than expected.
Penn National Gaming Inc. (Nasdaq: PENN) +$3.35; Stock moving higher on unconfirmed reports that (Pennsylvania) State gambling regulators voted to allow slot-machine distributors to operate state-wide, settling an internal dispute that had threatened to stall plans for PENN's first slot parlors to open this year.
Southern Copper Corp. (NYSE: PCU) +$2.57; Stock continues higher on recent momentum. Copper Index is trading up 1.5% today.
Penford Corporation (Nasdaq: PENX) +$1.96; The Company announced plans to invest $42 million for approximately 40 million gallons of ethanol production capacity at its Cedar Rapids, Iowa, facility. (Note - light volume)
DOWNWARD MOVERS:
HB Fuller Co. (NYSE: FUL) -$6.95; Company reported Q2 EPS of $0.65, in-line with estimates. Revenues were $388.5 million vs. $418.65 million consensus. Company sees FY06 EPS between $2.49-2.59 vs. $2.66 consensus.
Nike Inc. (NYSE: NKE) -$3.24; reports Q4 EPS of $1.39, 1 cent worse than estimates.(1.40) Revenues were $4.01 billion vs. $3.97 billion consensus.
Rambus Inc. (Nasdaq: RMBS) -$2.70; The Rambus Audit Committee has reached a preliminary conclusion that the actual measurement dates for certain stock option grants issued in prior years differ from the recorded grant dates for such awards. As a result, Rambus may need to record additional non-cash charges for stock-based compensation expense related to those prior periods. The Audit Committee has not yet completed its investigation.
NETGEAR (Nasdaq: NTGR) -$2.51; Citigroup downgrades Netgear, Inc. (Nasdaq: NTGR) from Buy to Hold with a $26 price target. Says expectations for a strong quarter are already built in.
The Cheesecake Factory (Nasdaq: CAKE) -$2.06; Expects flat to slightly negative comparable sales and an approximate 12% increase in revenues for the second quarter of fiscal 2006.
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