StreetInsider.com Pre-Open Movers 09/01
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StreetInsider.com Pre-Open Movers:
Summa Industries (Nasdaq: SUMX) 72% HIGHER; Habasit Holding AG, a privately held Swiss company, and Summa Industries (Nasdaq: SUMX) entered into an agreement and plan of merger for a wholly-owned subsidiary of Habasit to acquire Summa Industries via a cash tender offer for all outstanding shares of Summa common stock. Under the terms of the agreement, a wholly-owned subsidiary of Habasit will commence a cash tender offer to acquire all of the outstanding common stock of Summa at a price of $15.00 per share.
Peerless Systems Corporation (Nasdaq: PRLS) 23.7% LOWER; reports a Q2 loss of $0.02, 9 cents worse than estimates. Revenues were $7.9 million vs. $10.2 million consensus. Company announces retirement of CEO. PRLS now sees FY revenues between $33-36 million vs. prior guidance of $40.0 million vs. current consensus of $40.0 million. Will discontinue providing specific quarterly guidance.
Intergraph Corporation (NASDAQ: INGR) 17.5% HIGHER; signed a definitive agreement to be acquired by an investor group led by Hellman & Friedman LLC and Texas Pacific Group in a transaction valued at approximately $1.3 billion or $44 per share.
Verifone (NYSE: PAY) 14% HIGHER; reports Q3 EPS of $0.28 (excludes items), 2 cents better than estimates.(0.26) Revenues were $147.6 million vs. $145.91 million consensus. Raising FY06 year end guidance to $1.07 to $1.08 of adjusted net income per share. Also raising our FY07 guidance to $1.40 to $1.42 of adjusted net income per share, assuming a November 1, 2006
Take-Two (Nasdaq: TTWO) 10.2% LOWER; Reports Preliminary Q2 Revenues of $240M, Says Q3 EPS and Q4 Revs/EPS Consensus Too High
Dyax Corp. (Nasdaq: DYAX) 9% LOWER; received guidance in a recent meeting with the FDA regarding the pathway for BLA submission and approval of DX-88. The FDA recommend that a small confirmatory placebo-controlled trial be conducted.
ActivIdentity Corporation (Nasdaq: ACTI) 9% HIGHER; entered into a material customer agreement to supply a European government department with its public sector employee identification solution.
Bristol-Myers Squibb Co. (NYSE: BMY) 6% HIGHER; Bristol-Myers Squibb and Sanofi-Aventis (NYSE: SNY) win bid to block generic Plavix
ESS Technology, Inc. (Nasdaq: ESST) 6% LOWER; said it now expects revenue for the third quarter to be between $23 million and $28 million, below its earlier guidance of $31 to $35 million. Gross margins and earnings are also expected to be below previous guidance.
OmniVision (Nasdaq: OVTI) 5% LOWER; reports Q1 EPS of $0.39 (excluding items), 1 cents worse than estimates.(.40) Revenues were $136.9 million vs. $139.87 million consensus. Sees Q2 revenues between $135-145 million vs. $151.63 million consensus. Sees Q2 EPS between $0.26-0.34 vs. $0.42 consensus.
Wind River Systems (Nasdaq: WIND) 5% HIGHER; reports Q2 revenues of $73.5 million vs. $67.18 million consensus. Company delays earnings report due to stock option review. Sees Q3 EPS between $0.10-0.11 vs. $0.11 consensus. Sees Q3 revenues between $74-75 million vs. $75 million consensus. Sees FY07 revenues between $292-298 million vs. $278.8 million consensus. Company to provide FY07 earnings forecast when option review is complete.
Intel Corp. (Nasdaq: INTC) 1.7% HIGHER; May cut 10K-20K jobs. Also, ThinkEquity upgrade
Lockheed Martin Corp. (NYSE: LMT) 1.6% HIGHER; to build the Orion capsule aimed at reviving US manned space exploration.
Bassett Furniture Industries Inc. (NASDAQ: BSET) INDICATED HIGHER; announced that its Q3 earnings will be negatively impacted by lower sales levels and slightly reduced margins, compared to the year ago period.
Sentigen Holding Corp. (Nasdaq: SGHL) INDICATED HIGHER; entered into a definitive merger agreement with Invitrogen Corporation (Nasdaq: IVGN) under which Invitrogen will acquire Sentigen in a cash transaction at a price of $3.37 per share for all shares currently issued and outstanding.
Summa Industries (Nasdaq: SUMX) 72% HIGHER; Habasit Holding AG, a privately held Swiss company, and Summa Industries (Nasdaq: SUMX) entered into an agreement and plan of merger for a wholly-owned subsidiary of Habasit to acquire Summa Industries via a cash tender offer for all outstanding shares of Summa common stock. Under the terms of the agreement, a wholly-owned subsidiary of Habasit will commence a cash tender offer to acquire all of the outstanding common stock of Summa at a price of $15.00 per share.
Peerless Systems Corporation (Nasdaq: PRLS) 23.7% LOWER; reports a Q2 loss of $0.02, 9 cents worse than estimates. Revenues were $7.9 million vs. $10.2 million consensus. Company announces retirement of CEO. PRLS now sees FY revenues between $33-36 million vs. prior guidance of $40.0 million vs. current consensus of $40.0 million. Will discontinue providing specific quarterly guidance.
Intergraph Corporation (NASDAQ: INGR) 17.5% HIGHER; signed a definitive agreement to be acquired by an investor group led by Hellman & Friedman LLC and Texas Pacific Group in a transaction valued at approximately $1.3 billion or $44 per share.
Verifone (NYSE: PAY) 14% HIGHER; reports Q3 EPS of $0.28 (excludes items), 2 cents better than estimates.(0.26) Revenues were $147.6 million vs. $145.91 million consensus. Raising FY06 year end guidance to $1.07 to $1.08 of adjusted net income per share. Also raising our FY07 guidance to $1.40 to $1.42 of adjusted net income per share, assuming a November 1, 2006
Take-Two (Nasdaq: TTWO) 10.2% LOWER; Reports Preliminary Q2 Revenues of $240M, Says Q3 EPS and Q4 Revs/EPS Consensus Too High
Dyax Corp. (Nasdaq: DYAX) 9% LOWER; received guidance in a recent meeting with the FDA regarding the pathway for BLA submission and approval of DX-88. The FDA recommend that a small confirmatory placebo-controlled trial be conducted.
ActivIdentity Corporation (Nasdaq: ACTI) 9% HIGHER; entered into a material customer agreement to supply a European government department with its public sector employee identification solution.
Bristol-Myers Squibb Co. (NYSE: BMY) 6% HIGHER; Bristol-Myers Squibb and Sanofi-Aventis (NYSE: SNY) win bid to block generic Plavix
ESS Technology, Inc. (Nasdaq: ESST) 6% LOWER; said it now expects revenue for the third quarter to be between $23 million and $28 million, below its earlier guidance of $31 to $35 million. Gross margins and earnings are also expected to be below previous guidance.
OmniVision (Nasdaq: OVTI) 5% LOWER; reports Q1 EPS of $0.39 (excluding items), 1 cents worse than estimates.(.40) Revenues were $136.9 million vs. $139.87 million consensus. Sees Q2 revenues between $135-145 million vs. $151.63 million consensus. Sees Q2 EPS between $0.26-0.34 vs. $0.42 consensus.
Wind River Systems (Nasdaq: WIND) 5% HIGHER; reports Q2 revenues of $73.5 million vs. $67.18 million consensus. Company delays earnings report due to stock option review. Sees Q3 EPS between $0.10-0.11 vs. $0.11 consensus. Sees Q3 revenues between $74-75 million vs. $75 million consensus. Sees FY07 revenues between $292-298 million vs. $278.8 million consensus. Company to provide FY07 earnings forecast when option review is complete.
Intel Corp. (Nasdaq: INTC) 1.7% HIGHER; May cut 10K-20K jobs. Also, ThinkEquity upgrade
Lockheed Martin Corp. (NYSE: LMT) 1.6% HIGHER; to build the Orion capsule aimed at reviving US manned space exploration.
Bassett Furniture Industries Inc. (NASDAQ: BSET) INDICATED HIGHER; announced that its Q3 earnings will be negatively impacted by lower sales levels and slightly reduced margins, compared to the year ago period.
Sentigen Holding Corp. (Nasdaq: SGHL) INDICATED HIGHER; entered into a definitive merger agreement with Invitrogen Corporation (Nasdaq: IVGN) under which Invitrogen will acquire Sentigen in a cash transaction at a price of $3.37 per share for all shares currently issued and outstanding.
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