Pre-Open Movers: Financials Up (CFC, C, WM) On Positive Headlines, Motorola (MOT) Surges As Zander is Out
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StreeetInsider.com Pre-Open Movers:
SeaChange International (Nasdaq: SEAC) 25% HIGHER; reported Q3 EPS of $0.11, versus the analyst estimate of ($0.02). Revenues for the quarter were $49 million, versus the consensus of $45.23 million.
Countrywide Financial (NYSE: CFC) 14.8% HIGHER; Financial are higher following reports from the Wall Street Journal, the White House and major financial institutions are close to a deal that would temporarily freeze interest rates hikes on adjustable rate subprime mortgages. Also, Ben Bernanke's speech suggested more rates cuts are on the table.
J. Crew Group, Inc. (NYSE: JCG) 12% HIGHER; reported Q3 EPS of $0.42, 6 cents better than the analyst estimate of $0.36. Revenues for the quarter were $332.7 million, versus the consensus of $311.74 million. Raises FY guidance. Sees EPS of $1.50-$1.52, versus prior view of $1.42-$1.46. The consensus is $1.46.
StemCells, Inc. (NASDAQ: STEM) 9.9% HIGHER; said the first patient to receive a transplant of HuCNS-SC cells in the Company's Phase I clinical trial has completed the trial.
Dell, Inc. (Nasdaq: DELL) 9.7% LOWER; reported Q3 EPS of $0.34, $0.35 ex-items, versus the analyst estimate of $0.35. Revenues for the quarter were $15.6 billion, versus the consensus of $15.34 billion.
Washington Mutual Inc. (NYSE: WM) 8% HIGHER; Financial are higher following reports from the Wall Street Journal, the White House and major financial institutions are close to a deal that would temporarily freeze interest rates hikes on adjustable rate subprime mortgages. Also, Ben Bernanke's speech suggested more rates cuts are on the table.
Omnivision Technologies (Nasdaq: OVTI) 7.4% HIGHER; reported Q2 adj-EPS of $0.51, 8 cents better than the analyst estimate of $0.43. Revenues for the quarter were $232.6 million, versus the consensus of $222.69 million. Omnivision expects Q3 revenues in the range of $220 to $240 million, versus the consensus of $219.60 million and EPS between $0.41 and $0.54, versus the consensus of $0.41.
Pulte Homes Inc. (NYSE: PHM) 7% HIGHER; Hombuilders are higher this AM following reports from the Wall Street Journal, the White House and major financial institutions are close to a deal that would temporarily freeze interest rates hikes on adjustable rate subprime mortgages. Also, Ben Bernanke's speech suggested more rates cuts are on the table.
Mentor Graphics (Nasdaq: MENT) 5.4% LOWER; reported Q3 adj-EPS of $0.00, 4 cents lower than the analyst estimate of $0.04. Revenues for the quarter were $186.3 million, versus the consensus of $190.5 million. Mentor reaffirms its prior FY08 guidance of $860 million on revenues, compared to the Street estimate of $855.75 and EPS of about $1.02, versus the consensus of $0.98.
Motorola (NYSE: MOT) 5% HIGHER; confirmed Edward J. Zander is out as CEO. The company elected Greg Brown, who is currently President and Chief Operating Officer, as the new CEO
E*TRADE (Nasdaq: ETFC) 5% HIGHER; recovers some of yesterday's 8.7% loss. Yesterday, the company announced a $2.5B cash infusion from Citadel.
Wells Fargo & Company (NYSE: WFC) 4% HIGHER; Financial are higher following reports from the Wall Street Journal, the White House and major financial institutions are close to a deal that would temporarily freeze interest rates hikes on adjustable rate subprime mortgages. Also, Ben Bernanke's speech suggested more rates cuts are on the table.
Citigroup Inc. (NYSE: C) 4% HIGHER; Financial are higher following reports from the Wall Street Journal, the White House and major financial institutions are close to a deal that would temporarily freeze interest rates hikes on adjustable rate subprime mortgages. Also, Ben Bernanke's speech suggested more rates cuts are on the table.
Tiffany & Co. (NYSE: TIF) 3% HIGHER; reports Q2 EPS of $0.72, which includes items and does not compare to the consensus of $0.25. Revenues came in at $627.3 million, versus the consensus of $616.2 million. Tiffany & Co. sees 2007 EPS of $2.25-$2.30, ex-items, versus the consensus of $2.29.
Pep Boys (NYSE: PBY) 2% HIGHER; A number of insider purchase disclosures on Pep Boys were made after the close.
Google Inc. (Nasdaq: GOOG) 2% HIGHER; Confirms It Will Bid for Wireless Spectrum
Big Lots (NYSE: BIG) 2% LOWER; reports Q3 earnings of $0.14 per share, 2 cents better than estimates. Revenues came in at $1.03 billion, versus the consensus of $1.03 billion. Big Lots sees Q4 EPS of $0.81-0.86 versus the consensus of $0.87. Big Lots sees FY08 EPS of $1.37-$1.42 versus the consensus of $1.45. Announces a new $150 million share buyback.
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SeaChange International (Nasdaq: SEAC) 25% HIGHER; reported Q3 EPS of $0.11, versus the analyst estimate of ($0.02). Revenues for the quarter were $49 million, versus the consensus of $45.23 million.
Countrywide Financial (NYSE: CFC) 14.8% HIGHER; Financial are higher following reports from the Wall Street Journal, the White House and major financial institutions are close to a deal that would temporarily freeze interest rates hikes on adjustable rate subprime mortgages. Also, Ben Bernanke's speech suggested more rates cuts are on the table.
J. Crew Group, Inc. (NYSE: JCG) 12% HIGHER; reported Q3 EPS of $0.42, 6 cents better than the analyst estimate of $0.36. Revenues for the quarter were $332.7 million, versus the consensus of $311.74 million. Raises FY guidance. Sees EPS of $1.50-$1.52, versus prior view of $1.42-$1.46. The consensus is $1.46.
StemCells, Inc. (NASDAQ: STEM) 9.9% HIGHER; said the first patient to receive a transplant of HuCNS-SC cells in the Company's Phase I clinical trial has completed the trial.
Dell, Inc. (Nasdaq: DELL) 9.7% LOWER; reported Q3 EPS of $0.34, $0.35 ex-items, versus the analyst estimate of $0.35. Revenues for the quarter were $15.6 billion, versus the consensus of $15.34 billion.
Washington Mutual Inc. (NYSE: WM) 8% HIGHER; Financial are higher following reports from the Wall Street Journal, the White House and major financial institutions are close to a deal that would temporarily freeze interest rates hikes on adjustable rate subprime mortgages. Also, Ben Bernanke's speech suggested more rates cuts are on the table.
Omnivision Technologies (Nasdaq: OVTI) 7.4% HIGHER; reported Q2 adj-EPS of $0.51, 8 cents better than the analyst estimate of $0.43. Revenues for the quarter were $232.6 million, versus the consensus of $222.69 million. Omnivision expects Q3 revenues in the range of $220 to $240 million, versus the consensus of $219.60 million and EPS between $0.41 and $0.54, versus the consensus of $0.41.
Pulte Homes Inc. (NYSE: PHM) 7% HIGHER; Hombuilders are higher this AM following reports from the Wall Street Journal, the White House and major financial institutions are close to a deal that would temporarily freeze interest rates hikes on adjustable rate subprime mortgages. Also, Ben Bernanke's speech suggested more rates cuts are on the table.
Mentor Graphics (Nasdaq: MENT) 5.4% LOWER; reported Q3 adj-EPS of $0.00, 4 cents lower than the analyst estimate of $0.04. Revenues for the quarter were $186.3 million, versus the consensus of $190.5 million. Mentor reaffirms its prior FY08 guidance of $860 million on revenues, compared to the Street estimate of $855.75 and EPS of about $1.02, versus the consensus of $0.98.
Motorola (NYSE: MOT) 5% HIGHER; confirmed Edward J. Zander is out as CEO. The company elected Greg Brown, who is currently President and Chief Operating Officer, as the new CEO
E*TRADE (Nasdaq: ETFC) 5% HIGHER; recovers some of yesterday's 8.7% loss. Yesterday, the company announced a $2.5B cash infusion from Citadel.
Wells Fargo & Company (NYSE: WFC) 4% HIGHER; Financial are higher following reports from the Wall Street Journal, the White House and major financial institutions are close to a deal that would temporarily freeze interest rates hikes on adjustable rate subprime mortgages. Also, Ben Bernanke's speech suggested more rates cuts are on the table.
Citigroup Inc. (NYSE: C) 4% HIGHER; Financial are higher following reports from the Wall Street Journal, the White House and major financial institutions are close to a deal that would temporarily freeze interest rates hikes on adjustable rate subprime mortgages. Also, Ben Bernanke's speech suggested more rates cuts are on the table.
Tiffany & Co. (NYSE: TIF) 3% HIGHER; reports Q2 EPS of $0.72, which includes items and does not compare to the consensus of $0.25. Revenues came in at $627.3 million, versus the consensus of $616.2 million. Tiffany & Co. sees 2007 EPS of $2.25-$2.30, ex-items, versus the consensus of $2.29.
Pep Boys (NYSE: PBY) 2% HIGHER; A number of insider purchase disclosures on Pep Boys were made after the close.
Google Inc. (Nasdaq: GOOG) 2% HIGHER; Confirms It Will Bid for Wireless Spectrum
Big Lots (NYSE: BIG) 2% LOWER; reports Q3 earnings of $0.14 per share, 2 cents better than estimates. Revenues came in at $1.03 billion, versus the consensus of $1.03 billion. Big Lots sees Q4 EPS of $0.81-0.86 versus the consensus of $0.87. Big Lots sees FY08 EPS of $1.37-$1.42 versus the consensus of $1.45. Announces a new $150 million share buyback.
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