StreetInsider.com Pre-Open Movers 06/28
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StreetInsider.com Pre-Open Movers:
CryoCor, Inc. (Nasdaq: CRYO) 106% HIGHER; announced that the Advisory Panel of the FDA recommended that CryoCor\'s application for pre-market approval, or PMA, for the treatment of atrial flutter be approved by the FDA.
Meridian Gold Inc. (NYSE: MDG) 16.8% HIGHER; YAMANA GOLD INC. (NYSE: AUY) and Northern Orion Resources Inc. (AMEX: NTO) entered into a business combination agreement and a concurrent proposal has been made to Meridian Gold with respect to the combination of the three companies. The cash and share consideration represents a spot premium of approximately 23% over Meridian\'s closing share price on June 27, 2007.
Build-A-Bear Workshop, Inc. (NYSE: BBW) 15% HIGHER; retained Lehman Brothers to assist it and the board of directors in an analysis and consideration of a broad range of potential strategic alternatives to enhance long-term shareholder value.
Digital River, Inc. (NASDAQ: DRIV) 13.4% LOWER; sees Q2 revenues of $78 million, versus prior guidance of $85 million. Sees Q2 non-GAAP EPS of $0.38-$0.39, versus prior guidance of $0.46. The consensus is $85.25 million and $0.46. The Company also announced that its board of directors has authorized an expanded share repurchase program to buy back up to $200 million in the Company\'s common stock.
Momenta Pharmaceuticals (Nasdaq: MNTA) 13% LOWER; disclosed in an 8-K filing that, "Due to a change in the projected timing of certain activities required for the completion of the FDA\\\'s review of the ANDA for M-Enoxaparin, the Company believes that completion of the review of the ANDA for M-Enoxaparin will likely extend beyond its prior guidance of 18 to 24 months following submission."
American Superconductor Corporation (NASDAQ: AMSC) 6.7% HIGHER; announced that the United States Department of Energy is providing up to $21.7 million in funding for the following two new AMSC high temperature superconductor projects.
Herman Miller Inc. (Nasdaq: MLHR) 6% LOWER; reports Q4 EPS of $0.50, 1 cent better than estimates. Revenues came in at versus the consensus of $497.5 million. Sees Q1 EPS of $0.47-$0.53, versus the consensus of $0.57. Sees Q1 revs of $480-$505 million versus the consensus of $506.7 million
SMART Modular (NASDAQ: SMOD) 6% LOWER; reports Q3 EPS of $0.22, in-line with estimates. Revenues came in at $186.5 million versus the consensus of $235.3 million. Sees Q4 sales of $200-$220 million versus the consensus of $241.05 million. Sees Q4 GAAP EPS of $0.23-$0.24.
LSI Corporation (NYSE: LSI) 5.6% LOWER; announced a broad restructuring and an acceleration of merger related synergies to further reduce its operating expenses. As part of these cost savings, LSI announced that it will eliminate approximately 900 positions. Revises Q2 guidance. Sees Q2 revenues between $650 million and $670 million, versus the consensus of $773.75 million. Sees Q2 EPS between ($0.03) and $0.00, versus the consensus of a $0.06 profit
Bed Bath & Beyond (Nasdaq: BBBY) 5% LOWER; reports Q1 EPS of $0.38, 1 cent better than estimates. Revenues came in at $1.553 billion versus the consensus of $1.54 billion.
Image Entertainment Inc. (Nasdaq: DISK) 5% HIGHER; Amended its merger agreement with BTP Acquisition Company. Under the terms of the amended merger agreement, Image stockholders will receive the same aggregate cash consideration as under the original merger agreement, but also will retain between 5% and 9% of their common shares in the post-transaction company. Also reports Q4 and FY results. Net Revenues for Fourth Quarter Were $30.2 Million. Net Revenues for the Fiscal Year Were $99.8 Million.
Beazer Homes USA Inc. (NYSE: BZH) 4% LOWER; announced that Michael T. Rand has been terminated for cause, under the terms of his employment agreement, due to violations of the Company\'s ethics policy stemming from attempts to destroy documents in violation of the Company\'s document retention policy.
TASER International Inc. (Nasdaq: TASR) 4% HIGHER; Announces 1,420 X26 Order and Announces Strategic Alliance With iRobot (Nasdaq: IRBT)
Rite Aid Corp. (NYSE: RAD) 3.7% HIGHER; reports Q1 EPS of $0.04, which may not compare to the consensus of a $0.01 loss. Revenues came in at $4.46 billion versus the consensus of $4.67 billion. Reaffirms forecast.
Novellus Systems, Inc. (Nasdaq: NVLS) 3.3% LOWER; expects second quarter bookings, shipments, revenues and earnings per share to come in at the low end of the guidance.
Atmel Corp. (Nasdaq: ATML) 3% HIGHER; reports Q1 EPS of $0.06, 1 cent better than estimates. Revenues came in at $391.3 million. Now current with SEC filings
Capital One Financial Corporation (NYSE: COF); aannounced a broad-based initiative to reduce operating expenses and improve the competitive cost position of the company; cutting 2000 jobs.
Con-way Inc. (NYSE: CNW) INDICATED LOWER; said earnings in 2007 from continuing operations are expected to be between $3.25 and $3.45 per diluted share. The revised guidance includes a charge to second quarter earnings of 10 cents per diluted share for costs related to an award from litigation of a vehicular casualty claim. The company had previously provided earnings guidance for the full year of between $3.60 and $3.90 per diluted share. The Wall Street consensus is $3.80.
California Micro Devices (Nasdaq: CAMD) INDICATED LOWER; lowered its financial outlook for the first quarter of fiscal 2008, which ends June 30, 2007. The company now expects revenue of between $12.6 and $13.2 million with diluted EPS of between ($0.07) and ($0.05) on a GAAP basis, and between ($0.04) and ($0.02) on a non-GAAP basis, excluding Arques Technology acquisition costs and employee stock-based compensation expenses, and using a cash basis tax rate. Its earlier guidance had been revenue between $14.0 and $17.0 million with diluted EPS of between ($0.06) and ($0.01) on a GAAP basis and between ($0.02) and $0.02 on a non-GAAP basis. (Consensus is $15.8 million and $0.00 for Q1, respectively)
CryoCor, Inc. (Nasdaq: CRYO) 106% HIGHER; announced that the Advisory Panel of the FDA recommended that CryoCor\'s application for pre-market approval, or PMA, for the treatment of atrial flutter be approved by the FDA.
Meridian Gold Inc. (NYSE: MDG) 16.8% HIGHER; YAMANA GOLD INC. (NYSE: AUY) and Northern Orion Resources Inc. (AMEX: NTO) entered into a business combination agreement and a concurrent proposal has been made to Meridian Gold with respect to the combination of the three companies. The cash and share consideration represents a spot premium of approximately 23% over Meridian\'s closing share price on June 27, 2007.
Build-A-Bear Workshop, Inc. (NYSE: BBW) 15% HIGHER; retained Lehman Brothers to assist it and the board of directors in an analysis and consideration of a broad range of potential strategic alternatives to enhance long-term shareholder value.
Digital River, Inc. (NASDAQ: DRIV) 13.4% LOWER; sees Q2 revenues of $78 million, versus prior guidance of $85 million. Sees Q2 non-GAAP EPS of $0.38-$0.39, versus prior guidance of $0.46. The consensus is $85.25 million and $0.46. The Company also announced that its board of directors has authorized an expanded share repurchase program to buy back up to $200 million in the Company\'s common stock.
Momenta Pharmaceuticals (Nasdaq: MNTA) 13% LOWER; disclosed in an 8-K filing that, "Due to a change in the projected timing of certain activities required for the completion of the FDA\\\'s review of the ANDA for M-Enoxaparin, the Company believes that completion of the review of the ANDA for M-Enoxaparin will likely extend beyond its prior guidance of 18 to 24 months following submission."
American Superconductor Corporation (NASDAQ: AMSC) 6.7% HIGHER; announced that the United States Department of Energy is providing up to $21.7 million in funding for the following two new AMSC high temperature superconductor projects.
Herman Miller Inc. (Nasdaq: MLHR) 6% LOWER; reports Q4 EPS of $0.50, 1 cent better than estimates. Revenues came in at versus the consensus of $497.5 million. Sees Q1 EPS of $0.47-$0.53, versus the consensus of $0.57. Sees Q1 revs of $480-$505 million versus the consensus of $506.7 million
SMART Modular (NASDAQ: SMOD) 6% LOWER; reports Q3 EPS of $0.22, in-line with estimates. Revenues came in at $186.5 million versus the consensus of $235.3 million. Sees Q4 sales of $200-$220 million versus the consensus of $241.05 million. Sees Q4 GAAP EPS of $0.23-$0.24.
LSI Corporation (NYSE: LSI) 5.6% LOWER; announced a broad restructuring and an acceleration of merger related synergies to further reduce its operating expenses. As part of these cost savings, LSI announced that it will eliminate approximately 900 positions. Revises Q2 guidance. Sees Q2 revenues between $650 million and $670 million, versus the consensus of $773.75 million. Sees Q2 EPS between ($0.03) and $0.00, versus the consensus of a $0.06 profit
Bed Bath & Beyond (Nasdaq: BBBY) 5% LOWER; reports Q1 EPS of $0.38, 1 cent better than estimates. Revenues came in at $1.553 billion versus the consensus of $1.54 billion.
Image Entertainment Inc. (Nasdaq: DISK) 5% HIGHER; Amended its merger agreement with BTP Acquisition Company. Under the terms of the amended merger agreement, Image stockholders will receive the same aggregate cash consideration as under the original merger agreement, but also will retain between 5% and 9% of their common shares in the post-transaction company. Also reports Q4 and FY results. Net Revenues for Fourth Quarter Were $30.2 Million. Net Revenues for the Fiscal Year Were $99.8 Million.
Beazer Homes USA Inc. (NYSE: BZH) 4% LOWER; announced that Michael T. Rand has been terminated for cause, under the terms of his employment agreement, due to violations of the Company\'s ethics policy stemming from attempts to destroy documents in violation of the Company\'s document retention policy.
TASER International Inc. (Nasdaq: TASR) 4% HIGHER; Announces 1,420 X26 Order and Announces Strategic Alliance With iRobot (Nasdaq: IRBT)
Rite Aid Corp. (NYSE: RAD) 3.7% HIGHER; reports Q1 EPS of $0.04, which may not compare to the consensus of a $0.01 loss. Revenues came in at $4.46 billion versus the consensus of $4.67 billion. Reaffirms forecast.
Novellus Systems, Inc. (Nasdaq: NVLS) 3.3% LOWER; expects second quarter bookings, shipments, revenues and earnings per share to come in at the low end of the guidance.
Atmel Corp. (Nasdaq: ATML) 3% HIGHER; reports Q1 EPS of $0.06, 1 cent better than estimates. Revenues came in at $391.3 million. Now current with SEC filings
Capital One Financial Corporation (NYSE: COF); aannounced a broad-based initiative to reduce operating expenses and improve the competitive cost position of the company; cutting 2000 jobs.
Con-way Inc. (NYSE: CNW) INDICATED LOWER; said earnings in 2007 from continuing operations are expected to be between $3.25 and $3.45 per diluted share. The revised guidance includes a charge to second quarter earnings of 10 cents per diluted share for costs related to an award from litigation of a vehicular casualty claim. The company had previously provided earnings guidance for the full year of between $3.60 and $3.90 per diluted share. The Wall Street consensus is $3.80.
California Micro Devices (Nasdaq: CAMD) INDICATED LOWER; lowered its financial outlook for the first quarter of fiscal 2008, which ends June 30, 2007. The company now expects revenue of between $12.6 and $13.2 million with diluted EPS of between ($0.07) and ($0.05) on a GAAP basis, and between ($0.04) and ($0.02) on a non-GAAP basis, excluding Arques Technology acquisition costs and employee stock-based compensation expenses, and using a cash basis tax rate. Its earlier guidance had been revenue between $14.0 and $17.0 million with diluted EPS of between ($0.06) and ($0.01) on a GAAP basis and between ($0.02) and $0.02 on a non-GAAP basis. (Consensus is $15.8 million and $0.00 for Q1, respectively)
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