StreetInsider.com Pre-Open Movers 12/06
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StreetInsider.com Pre-Open Movers:
Halozyme Therapeutics, Inc. (Amex: HTI) 62% HIGHER; entered into an agreement with Roche to apply its proprietary Enhanze(TM) Technology to Roche's biological therapeutic compounds.
Docucorp International (Nasdaq: DOCC) 30% HIGHER; entered into a definitive agreement, under which Skywire Software will acquire all of Docucorp's outstanding shares for $10.00 per share in an all-cash transaction valued at approximately $127 million.
Food Technology Service Inc. (Nasdaq: VIFL) 22% HIGHER; sees continued momentum following yesterday move up on E.coli and other bacteria scares
Versant Corporation (Nasdaq: VSNT) 21.6% HIGHER; announced its financial results for the fourth fiscal quarter. For the quarter, Versant reported revenues of $4.6 million from its continuing operations, compared to $3.8 million for the comparable period last year, representing an increase of approximately 21%. Net income for the quarter was $1.4 million and diluted net income per share was $0.38, compared to net income of $0.5 million and net income per share of $0.14 for the comparable period last year.
InterDigital Communications Corporation (NASDAQ: IDCC) 11% LOWER; expects total fourth quarter 2006 revenue to be in the range of approximately $62 million to $63 million. CEO Richard Fagan said, "The level of recurring patent licensing royalties revenues for fourth quarter 2006 reflects the adverse impact on some of our licensees of delays in 3G handset purchases during third quarter 2006(1) in Japan as customers awaited the launch of both mobile number portability(2) and several new handset model introductions."
Optium Corporation (NASDAQ: OPTM) 9% HIGHER; reports Q1 GAAP EPS of $0.13 (non-GAAP EPS was $0.15) vs. consensus of $0.12. The Company expects second quarter revenues of $32 to $34 million. GAAP earnings for the second quarter are expected to be $0.12 to $0.14 per diluted share. Excluding expected pre-tax stock-based compensation charges of approximately $300,000 and duplicate facility costs of approximately $250,000, non-GAAP earnings for the second quarter are expected to be $0.14 to $0.16 per diluted share. Current Q2 EPS consensus is $0.12.
Wind River Systems (Nasdaq: WIND) 9% LOWER; reports preliminary Q3 revenues of $70.6 million vs. $74.82 million consensus. For Q4 Fiscal Year 2007, Wind River expects: Revenues to be between $74 million and $75 million. Current Q4 revenue consensus is $80.82 million. Reported revenue plus the sequential change in deferred revenue from Q3 FY07 to exceed $88 million.
Novell Inc. (Nasdaq: NOVL) 7% LOWER; reports preliminary Q4 EPS of $0.05, ex-items, 1 cent better than estimates. Revenues came in at $245 million versus the consensus of $251.4 million. Sees FY07 revenues of $945-$975 million versus the consensus of $1 billion. For FY07, on a non-GAAP basis, adjusted income from operations is expected to be between breakeven and $10 million. For FY08 Novell is targeting fourth fiscal quarter 2008 exit rate operating margins of between 12 and 15 percent.
Barnes & Noble Inc. (NYSE: BKS) 5% HIGHER; Credit Suisse upgrades to Outperform, suggests as a possible LBO target.
Biovail Corporation (NYSE: BVF) 5% HIGHER; has adopted a new dividend policy that contemplates the payment of an annual dividend of $1.50 per common share (paid quarterly in increments of $0.375 per common share subject to Board approval), a 200% increase relative to the Company's former policy. Biovail is providing overall revenue guidance for 2007 of $800 million to $850 million; diluted earnings per share (EPS) guidance of $1.70 to $1.80; and cash flow from operations guidance of $320 million to $340 million, or $2.00 to $2.12 per share. Current FY07 revenue consensus is $837.86 million and EPS consensus is $1.61.
Panera Bread Company (Nasdaq: PNRA) 5% LOWER; Based on this comp revision, the Company is also issuing a revised target for 4th quarter earnings per share of $0.62 to $0.65 (prior to any one-time expenses related to the previously reported Paradise acquisition). The consensus is $0.67. The company also revised target for full year earnings per share of $1.87 to $1.90 (prior to any one-time expenses related to the previously reported Paradise acquisition). The consensus is $1.92.
Novellus Systems Inc. (Nasdaq: NVLS) 3.9% LOWER; Goldman Sachs downgrades to Sell
Indevus Pharmaceuticals, Inc. (Nasdaq: IDEV) 3.3% HIGHER; Indevus will out-license the worldwide rights to aminocandin to Novexel.
Directed Electronics, Inc. (Nasdaq: DEIX) 3% LOWER; is revising its guidance for 2006 to reflect lower than anticipated sales of satellite radio receivers. Directed's sales are now projected to be in the range of $430 - $440 million compared to previously issued guidance of $440 - $460 million. Pro forma net income per diluted share is now expected to be in the range of $1.04 - $1.08, compared to the Company's earlier guidance of $1.09 - $1.13 per diluted share.
Halozyme Therapeutics, Inc. (Amex: HTI) 62% HIGHER; entered into an agreement with Roche to apply its proprietary Enhanze(TM) Technology to Roche's biological therapeutic compounds.
Docucorp International (Nasdaq: DOCC) 30% HIGHER; entered into a definitive agreement, under which Skywire Software will acquire all of Docucorp's outstanding shares for $10.00 per share in an all-cash transaction valued at approximately $127 million.
Food Technology Service Inc. (Nasdaq: VIFL) 22% HIGHER; sees continued momentum following yesterday move up on E.coli and other bacteria scares
Versant Corporation (Nasdaq: VSNT) 21.6% HIGHER; announced its financial results for the fourth fiscal quarter. For the quarter, Versant reported revenues of $4.6 million from its continuing operations, compared to $3.8 million for the comparable period last year, representing an increase of approximately 21%. Net income for the quarter was $1.4 million and diluted net income per share was $0.38, compared to net income of $0.5 million and net income per share of $0.14 for the comparable period last year.
InterDigital Communications Corporation (NASDAQ: IDCC) 11% LOWER; expects total fourth quarter 2006 revenue to be in the range of approximately $62 million to $63 million. CEO Richard Fagan said, "The level of recurring patent licensing royalties revenues for fourth quarter 2006 reflects the adverse impact on some of our licensees of delays in 3G handset purchases during third quarter 2006(1) in Japan as customers awaited the launch of both mobile number portability(2) and several new handset model introductions."
Optium Corporation (NASDAQ: OPTM) 9% HIGHER; reports Q1 GAAP EPS of $0.13 (non-GAAP EPS was $0.15) vs. consensus of $0.12. The Company expects second quarter revenues of $32 to $34 million. GAAP earnings for the second quarter are expected to be $0.12 to $0.14 per diluted share. Excluding expected pre-tax stock-based compensation charges of approximately $300,000 and duplicate facility costs of approximately $250,000, non-GAAP earnings for the second quarter are expected to be $0.14 to $0.16 per diluted share. Current Q2 EPS consensus is $0.12.
Wind River Systems (Nasdaq: WIND) 9% LOWER; reports preliminary Q3 revenues of $70.6 million vs. $74.82 million consensus. For Q4 Fiscal Year 2007, Wind River expects: Revenues to be between $74 million and $75 million. Current Q4 revenue consensus is $80.82 million. Reported revenue plus the sequential change in deferred revenue from Q3 FY07 to exceed $88 million.
Novell Inc. (Nasdaq: NOVL) 7% LOWER; reports preliminary Q4 EPS of $0.05, ex-items, 1 cent better than estimates. Revenues came in at $245 million versus the consensus of $251.4 million. Sees FY07 revenues of $945-$975 million versus the consensus of $1 billion. For FY07, on a non-GAAP basis, adjusted income from operations is expected to be between breakeven and $10 million. For FY08 Novell is targeting fourth fiscal quarter 2008 exit rate operating margins of between 12 and 15 percent.
Barnes & Noble Inc. (NYSE: BKS) 5% HIGHER; Credit Suisse upgrades to Outperform, suggests as a possible LBO target.
Biovail Corporation (NYSE: BVF) 5% HIGHER; has adopted a new dividend policy that contemplates the payment of an annual dividend of $1.50 per common share (paid quarterly in increments of $0.375 per common share subject to Board approval), a 200% increase relative to the Company's former policy. Biovail is providing overall revenue guidance for 2007 of $800 million to $850 million; diluted earnings per share (EPS) guidance of $1.70 to $1.80; and cash flow from operations guidance of $320 million to $340 million, or $2.00 to $2.12 per share. Current FY07 revenue consensus is $837.86 million and EPS consensus is $1.61.
Panera Bread Company (Nasdaq: PNRA) 5% LOWER; Based on this comp revision, the Company is also issuing a revised target for 4th quarter earnings per share of $0.62 to $0.65 (prior to any one-time expenses related to the previously reported Paradise acquisition). The consensus is $0.67. The company also revised target for full year earnings per share of $1.87 to $1.90 (prior to any one-time expenses related to the previously reported Paradise acquisition). The consensus is $1.92.
Novellus Systems Inc. (Nasdaq: NVLS) 3.9% LOWER; Goldman Sachs downgrades to Sell
Indevus Pharmaceuticals, Inc. (Nasdaq: IDEV) 3.3% HIGHER; Indevus will out-license the worldwide rights to aminocandin to Novexel.
Directed Electronics, Inc. (Nasdaq: DEIX) 3% LOWER; is revising its guidance for 2006 to reflect lower than anticipated sales of satellite radio receivers. Directed's sales are now projected to be in the range of $430 - $440 million compared to previously issued guidance of $440 - $460 million. Pro forma net income per diluted share is now expected to be in the range of $1.04 - $1.08, compared to the Company's earlier guidance of $1.09 - $1.13 per diluted share.
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