StreetInsider.com Pre-Open Movers 04/23
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StreetInsider.com Pre-Open Movers:
MedImmune, Inc. (Nasdaq: MEDI) 18% HIGHER; AstraZeneca PLC entered into a definitive agreement to acquire MedImmune in an all-cash transaction. Under the terms of the agreement, which has unanimous MedImmune Board support, AstraZeneca will acquire all of the fully diluted shares of MedImmune common stock at a price of $58 per share, for a total consideration of approximately $15.6 billion.
AtheroGenics, Inc. (Nasdaq: AGIX) 17.8% LOWER; said AstraZeneca (NYSE: AZN) has notified the Company that it is ending their collaboration to develop and commercialize AGI-1067. As a result of this decision, AtheroGenics will reacquire all worldwide rights for AGI-1067 and will continue to develop the compound.
Applied Micro Circuits Corporation (Nasdaq: AMCC) 15% LOWER; now expects to report net revenues of approximately $70 million for the quarter ended March 31, 2007, down approximately 8.5% compared to the quarter ended December 31, 2006. The Company had previously provided guidance for fourth quarter revenues to be down between 2% and 5% sequentially.
Avanir Pharmaceuticals (Nasdaq: AVNR) 14% HIGHER; continued momentum following positive Zenvia trial data. Company provided a business update this morning.
Pharmacyclics Inc. (Nasdaq: PCYC) 10% HIGHER; announced that the FDA has filed the company's New Drug Application (NDA) for Xcytrin Injection
Hasbro Inc. (NYSE: HAS) 8.4% HIGHER; reports Q1 earnings of $0.19 per share, 19 cents better than estimates. Revenues came in at $625.3 million versus the consensus of $507.9 million.
Fuel-Tech, Inc. (Nasdaq: FTEK) 6.8% HIGHER; Cramer highlights on Mad Money
CNH Global (NYSE: CHN) 5.7% LOWER; reports Q1 earnings of $0.40 per share, with $10 million in restructuring charges, versus the consensus of $0.31. Revenues came in at $3.24 billion versus the consensus of $3.07 billion. Sees FY07 EPS of $2.15-$2.30 versus the consensus of $2.08.
Jones Soda Co. (Nasdaq: JSDA) 5.1% LOWER; Stifel Nicolaus downgrades the stock on valuation.
Harsco Corp. (NYSE: HSC) 3.9% HIGHER; reports Q1 EPS of $0.54, versus the consensus of $0.43. Revenues came in at $840.02 million versus the consensus of $769.07 million. Sees Q2 EPS of $0.76-$0.79, versus the consensus of $0.73. Sees FY EPS of $2.69-$2.74, versus prior guidance of $2.52-$2.57 and the consensus of $2.57.
AstraZeneca plc (NYSE: AZN) 3.6% LOWER; AstraZeneca PLC entered into a definitive agreement to acquire MedImmune in an all-cash transaction. Under the terms of the agreement, which has unanimous MedImmune Board support, AstraZeneca will acquire all of the fully diluted shares of MedImmune common stock at a price of $58 per share, for a total consideration of approximately $15.6 billion.
NYSE Euronext, Inc. (NYSE: NYX) 3.2% LOWER; Goldman Sachs downgrades to Sell
Juniper Networks, Inc (Nasdaq: JNPR) 3% HIGHER; UBS upgrades to Buy
Affiliated Computer Services, Inc. (NYSE: ACS) 3% HIGHER; Darwin Deason and Cerberus Submit Revised Offer for ACS of $62 per share.
Vertex Pharmaceuticals, Inc. (Nasdaq: VRTX) 2.8% LOWER' Needham downgrades from Buy to Hold, saying the HCV drug candidate may not reach the market until late 2010/ early 2011.
Administaff, Inc. (NYSE: ASF) INDICATED LOWER; sees Q1 EPS of $0.30 vs. consensus of $0.37. The company expects to report average gross profit per worksite employee per month of $216, compared to its initial guidance of $224 to $230. This shortfall is due primarily to higher than expected healthcare costs, offset in part by a better than expected workers' compensation surplus.
Interpool, Inc. (NYSE: IPX) INDICATED HIGHER; entered into a definitive agreement to be acquired by certain private equity funds managed by affiliates of Fortress Investment Group LLC pursuant to a merger in which all Interpool stockholders would receive $27.10 in cash for each share of Interpool common stock that they hold. The total transaction value, including assumed debt, is approximately $2.4 billion.
MedImmune, Inc. (Nasdaq: MEDI) 18% HIGHER; AstraZeneca PLC entered into a definitive agreement to acquire MedImmune in an all-cash transaction. Under the terms of the agreement, which has unanimous MedImmune Board support, AstraZeneca will acquire all of the fully diluted shares of MedImmune common stock at a price of $58 per share, for a total consideration of approximately $15.6 billion.
AtheroGenics, Inc. (Nasdaq: AGIX) 17.8% LOWER; said AstraZeneca (NYSE: AZN) has notified the Company that it is ending their collaboration to develop and commercialize AGI-1067. As a result of this decision, AtheroGenics will reacquire all worldwide rights for AGI-1067 and will continue to develop the compound.
Applied Micro Circuits Corporation (Nasdaq: AMCC) 15% LOWER; now expects to report net revenues of approximately $70 million for the quarter ended March 31, 2007, down approximately 8.5% compared to the quarter ended December 31, 2006. The Company had previously provided guidance for fourth quarter revenues to be down between 2% and 5% sequentially.
Avanir Pharmaceuticals (Nasdaq: AVNR) 14% HIGHER; continued momentum following positive Zenvia trial data. Company provided a business update this morning.
Pharmacyclics Inc. (Nasdaq: PCYC) 10% HIGHER; announced that the FDA has filed the company's New Drug Application (NDA) for Xcytrin Injection
Hasbro Inc. (NYSE: HAS) 8.4% HIGHER; reports Q1 earnings of $0.19 per share, 19 cents better than estimates. Revenues came in at $625.3 million versus the consensus of $507.9 million.
Fuel-Tech, Inc. (Nasdaq: FTEK) 6.8% HIGHER; Cramer highlights on Mad Money
CNH Global (NYSE: CHN) 5.7% LOWER; reports Q1 earnings of $0.40 per share, with $10 million in restructuring charges, versus the consensus of $0.31. Revenues came in at $3.24 billion versus the consensus of $3.07 billion. Sees FY07 EPS of $2.15-$2.30 versus the consensus of $2.08.
Jones Soda Co. (Nasdaq: JSDA) 5.1% LOWER; Stifel Nicolaus downgrades the stock on valuation.
Harsco Corp. (NYSE: HSC) 3.9% HIGHER; reports Q1 EPS of $0.54, versus the consensus of $0.43. Revenues came in at $840.02 million versus the consensus of $769.07 million. Sees Q2 EPS of $0.76-$0.79, versus the consensus of $0.73. Sees FY EPS of $2.69-$2.74, versus prior guidance of $2.52-$2.57 and the consensus of $2.57.
AstraZeneca plc (NYSE: AZN) 3.6% LOWER; AstraZeneca PLC entered into a definitive agreement to acquire MedImmune in an all-cash transaction. Under the terms of the agreement, which has unanimous MedImmune Board support, AstraZeneca will acquire all of the fully diluted shares of MedImmune common stock at a price of $58 per share, for a total consideration of approximately $15.6 billion.
NYSE Euronext, Inc. (NYSE: NYX) 3.2% LOWER; Goldman Sachs downgrades to Sell
Juniper Networks, Inc (Nasdaq: JNPR) 3% HIGHER; UBS upgrades to Buy
Affiliated Computer Services, Inc. (NYSE: ACS) 3% HIGHER; Darwin Deason and Cerberus Submit Revised Offer for ACS of $62 per share.
Vertex Pharmaceuticals, Inc. (Nasdaq: VRTX) 2.8% LOWER' Needham downgrades from Buy to Hold, saying the HCV drug candidate may not reach the market until late 2010/ early 2011.
Administaff, Inc. (NYSE: ASF) INDICATED LOWER; sees Q1 EPS of $0.30 vs. consensus of $0.37. The company expects to report average gross profit per worksite employee per month of $216, compared to its initial guidance of $224 to $230. This shortfall is due primarily to higher than expected healthcare costs, offset in part by a better than expected workers' compensation surplus.
Interpool, Inc. (NYSE: IPX) INDICATED HIGHER; entered into a definitive agreement to be acquired by certain private equity funds managed by affiliates of Fortress Investment Group LLC pursuant to a merger in which all Interpool stockholders would receive $27.10 in cash for each share of Interpool common stock that they hold. The total transaction value, including assumed debt, is approximately $2.4 billion.
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