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Pre-Open Movers 12/18: VISICU, Waste Industries Higher on Buyout News (EICU, WWIN); Tuesday Morning (TUES) Sinks On Outlook

December 18, 2007 9:27 AM EST
StreetInsider.com Pre-Open Movers:

VISICU, Inc. (NASDAQ: EICU) 32% HIGHER; entered into a merger agreement through which an affiliate of Philips will acquire the entire share capital of VISICU for $12.00 per share.

Waste Industries USA, Inc. (Nasdaq: WWIN) 20% HIGHER; entered into a definitive merger agreement with an investor group to acquire all outstanding shares the investor group does not already own for $38.00 per share in cash.

Tuesday Morning Corporation (Nasdaq: TUES) 16% LOWER; lowers guidance. Sees 2008 revenue in the range of $943 to $955 million with low single digit negative comparable store sales. The Wall Street consensus is $977.05 million. Diluted earnings per share, based on these sales results, would be approximately $0.58 to $0.65 per diluted share for the fiscal year 2008. The Wall Street consensus is $0.76.

iRobot Corp. (Nasdaq: IRBT) 15% HIGHER; has been awarded the xBot contract, a $286 million Indefinite-Delivery/Indefinite-Quantity contract from the U.S. Army Program Executive Office for Simulation, Training, and Instrumentation , on behalf of the Robotic Systems Joint Project Office at Redstone Arsenal, Ala.

Zanett, Inc. (Nasdaq: ZANE) 14% HIGHER; announced it was raising 2007 Q4 revenue guidance to a range of 8-12% above 4th quarter 2006, up from previous guidance of 4-9%. Zanett sees fourth quarter revenue between $12 million and $12.5 million.

Synovus (NYSE: SNV) 11% LOWER; expects to report earnings below its previously issued guidance of approximately $1.83 per share, excluding TSYS spin-related costs. The company said, based upon continued deterioration in the housing sector, Synovus' key credit indicators are expected to show continued negative pressure during the fourth quarter of 2007. Synovus will require additional loan loss provision expense.

Thornburg Mortgage, Inc. (NYSE: TMA) 8% HIGHER; declared a fourth quarter dividend of $0.25 per common share. The dividend was omitted last quarter.

Range Resources Corp. (NYSE: RRC) 3.7% HIGHER; will replace Tribune Co. (NYSE: TRB) in the S&P 500 after the close of trading on Thursday, December 20. Tribune is being taken private in a deal expected to close on or about that date, pending final approvals.

JA Solar Holdings Co., Ltd. (Nasdaq: JASO) 3.5% HIGHER; announced that it has signed a new wafer supply agreement with ReneSola Ltd.

WellCare Health Plans, Inc. (NYSE: WCG) 3% LOWER; continues today 8.7% drop, which was related to fears of more negative new related to the DOJ probe.

Multi-Fineline Electronix (Nasdaq: MFLX) 2% HIGHER; Banc of America initiates coverage on Multi-Fineline Electronix with a Buy, citing positive outlook to company's earnings estimates. Price target $23.

Adobe Systems Inc. (Nasdaq: ADBE) 1.5% LOWER; reports Q4 EPS of $0.49, 1 cent better than estimates. Revenues came in at $911.2 million, versus the consensus of $887.3 million. Adobe also reaffirmed its target for FY08 revenue plan. Adobe also announced they raised their buyback plan by 30 million shares.

EMBARQ (NYSE: EQ) 1.4% LOWER; announced that Dan Hesse has resigned as Chairman, President and CEO to become president and chief executive officer of Sprint Nextel (NYSE: S)

Best Buy Co. Inc. (NYSE: BBY) 1.3% HIGHER; reports Q3 EPS of $0.53, above the consensus of $0.41. Revenues came in at $9.93 billion, versus the consensus of $9.43 billion. Raises FY EPS to $3.10-$3.20, versus the consensus of $3.12.

Goldman Sachs Group Inc. (NYSE: GS) 1% HIGHER; reports Q4 EPS of $7.01, versus the consensus of $6.61. Revenues came in at $10.74 billion, versus the consensus of $10.16 billion. Raises buyback by 60 million shares.

Cherokee Inc. (NASDAQ: CHKE) INDICATED HIGHER; announced plans to explore strategic alternatives to increase shareholder value, including among others, a possible sale of the Company. Cherokee hired Goldman, Sachs & Co. as its financial advisor to evaluate and assist with the review.

Valassis (NYSE: VCI) INDICATED HIGHER; sees 2008 EPS of $2.14 and $2.39. The Wall Street consensus is $1.31. Valassis is expecting increased adjusted EBITDA of between $260 and $280 million compared to 2007 guidance. The company expects low-to mid-single digit pro forma revenue growth, most of which is expected to come in the second half of 2008. In 2008, capital expenditures are planned to be $35 million. CEO Alan F. Schultz said, "The ADVO, Inc. integration cost synergies have exceeded our 2007 targets and our shared mail optimization efforts have improved margins."

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