StreetInsider.com Pre-Open Movers 12/14: (ALXA) (SZYM) (ADBE) Higher; (BBY) (PAY) (ZQK) Lower (more...)
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Alexza Pharmaceuticals, Inc. (Nasdaq: ALXA) 20% HIGHER; the Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency (EMA) adopted a positive opinion recommending that ADASUVE (Staccato loxapine) be granted European Union (EU) centralized marketing authorization.
Solazyme, Inc. (NASDAQ: SZYM) 20% HIGHER; announced today the successful completion of multiple initial fermentations at ADMs Clinton, Iowa facility. In these runs, Solazyme achieved commercial scale production metrics, exhibited linear scalability of its process from laboratory scale, and demonstrated the ability to run at this scale without contamination. The fermentations were conducted in approximately 500,000-liter vessels, which are about four times the scale of the vessels in Solazymes Peoria facility. Solazyme is initially targeting annual production of 20,000 metric tons of oil starting in early 2014 at the ADM facility, with targeted expansion to 100,000 metric tons.
Quiksilver, Inc. (NYSE: ZQK) 16% LOWER; reported Q4 EPS of $0.02, in-line with the analyst estimate of $0.02. Revenue for the quarter came in at $558.66 million, versus $545.2 million reported last year.
Cytori Therapeutics, Inc. (NASDAQ: CYTX) 16% LOWER; announced the sale of 7,020,000 shares of its common stock in an underwritten public offering at a price to the public of $2.85 per share. The net offering proceeds to Cytori from the sale of the shares are expected to be approximately $18.5 million, after deducting underwriting discounts and commissions and other estimated offering expenses, but excluding any exercise of the underwriters’ over-allotment option.
FuelCell Energy, Inc. (Nasdaq: FCEL) 12% HIGHER; announced that it is providing a turn-key distributed power generation solution for the engineering, procurement and construction of a 14.9 megawatt (MW) fuel cell park in Bridgeport, Connecticut that includes the manufacture and sale of five 2.8 megawatt DFC3000® fuel cell power plants.
Best Buy Co., Inc. (NYSE: BBY) 11% LOWER; the company extended the deadline for a Schulze bid until the end of February.
VeriFone Systems (NYSE: PAY) 7% LOWER; reported Q4 EPS of $0.76, in-line with the analyst estimate of $0.76. Revenue for the quarter came in at $485 million versus the consensus estimate of $494.84 million. Sees Q1 2013 EPS of $0.70-0.73, versus the consensus of $0.75. VeriFone Systems sees Q1 2013 revenue of $490-500 million, versus the consensus of $498.55 million.
Adobe Systems, Inc. (NASDAQ: ADBE) 6% HIGHER; reported Q4 EPS of $0.61, versus the analyst estimate of $0.57. Revenue for the quarter came in at $1.15 billion versus the consensus estimate of $1.1 billion.
TiVo (NASDAQ: TIVO) 5% HIGHER; Goldman Sachs initiates coverage on TiVo with a Buy and $15 price target, saying pieces are falling into place.
NIC Inc. (NASDAQ: EGOV) 5% HIGHER; will replace OPNET Technologies Inc. (NASDAQ: OPNT) in the S&P SmallCap 600 after the close of trading on Tuesday, December 18. S&P MidCap 400 constituent Riverbed Technologies (NASDAQ: RVBD) is acquiring OPNET in a deal expected to be completed on or about that date pending final approvals.
SolarCity Corporation (NASDAQ: SCTY) 5% HIGHER; yesteday's hope IPO continues higher.
Isis Pharmaceuticals Inc. (NASDAQ: ISIS) 5% LOWER; announced that the Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency (EMA) has adopted a negative opinion for its marketing authorization application (MAA) for KYNAMRO (mipomersen) for the treatment of patients with Homozygous Familial Hypercholesterolaemia (HoFH). Genzyme plans to request a re-examination of the CHMP Opinion
AVG Technologies N.V. (NYSE: AVG) 4% HIGHER; announced a new Search and Distribution relationship with Yahoo! Inc. (NASDAQ: YHOO).
Leap Wireless International Inc. (NASDAQ: LEAP) 3% HIGHER; renewed takeover speculation
Lpath, Inc. (NASDAQ: LPTN) 3% LOWER; intends to offer and sell shares of its common stock in an underwritten public offering. The offering is subject to market conditions and there can be no assurance as to whether or when the offering may be complete, or as to the actual size or terms of the offering. Summer Street Research Partners is acting as sole book-running manager for the offering.
Apple Inc. (Nasdaq: AAPL) 3% LOWER; estimates, price target cut at UBS
Cirrus Logic Inc. (Nasdaq: CRUS) 3% LOWER; lower on Apple weakness
NII Holdings, Inc. (Nasdaq: NIHD) 3% LOWER; announces that its Board of Directors has appointed Steven M. Shindler, currently Chairman of the Board, to the additional position of interim Chief Executive Officer, effective immediately.
Clearwire Corporation (Nasdaq: CLWR) 3% LOWER; Concerns Softbank will keep a lid on bidding
Wynn Resorts Ltd. (Nasdaq: WYNN) 3% LOWER; downgraded at UBS
Boston Scientific (NYSE: BSX) 2% HIGHER; Barclays upgraded from Equalweight to Overweight with a price target of $7.00 (from $6.00).
Marathon Oil (NYSE: MRO) 2% HIGHER; Goldman Sachs upgraded from Neutral to Buy with a price target of $39.00 (from $35.00).
LaSalle Hotel Properties (NYSE: LHO) 2% LOWER; plans to sell 7,000,000 common shares in an underwritten public offering pursuant to its effective shelf registration statement previously filed with the Securities and Exchange Commission.
United Technologies Corp. (NYSE: UTX) 1% LOWER; sees FY13 EPS of $5.85 to $6.15, versus the consensus of $6.13
Solazyme, Inc. (NASDAQ: SZYM) 20% HIGHER; announced today the successful completion of multiple initial fermentations at ADMs Clinton, Iowa facility. In these runs, Solazyme achieved commercial scale production metrics, exhibited linear scalability of its process from laboratory scale, and demonstrated the ability to run at this scale without contamination. The fermentations were conducted in approximately 500,000-liter vessels, which are about four times the scale of the vessels in Solazymes Peoria facility. Solazyme is initially targeting annual production of 20,000 metric tons of oil starting in early 2014 at the ADM facility, with targeted expansion to 100,000 metric tons.
Quiksilver, Inc. (NYSE: ZQK) 16% LOWER; reported Q4 EPS of $0.02, in-line with the analyst estimate of $0.02. Revenue for the quarter came in at $558.66 million, versus $545.2 million reported last year.
Cytori Therapeutics, Inc. (NASDAQ: CYTX) 16% LOWER; announced the sale of 7,020,000 shares of its common stock in an underwritten public offering at a price to the public of $2.85 per share. The net offering proceeds to Cytori from the sale of the shares are expected to be approximately $18.5 million, after deducting underwriting discounts and commissions and other estimated offering expenses, but excluding any exercise of the underwriters’ over-allotment option.
FuelCell Energy, Inc. (Nasdaq: FCEL) 12% HIGHER; announced that it is providing a turn-key distributed power generation solution for the engineering, procurement and construction of a 14.9 megawatt (MW) fuel cell park in Bridgeport, Connecticut that includes the manufacture and sale of five 2.8 megawatt DFC3000® fuel cell power plants.
Best Buy Co., Inc. (NYSE: BBY) 11% LOWER; the company extended the deadline for a Schulze bid until the end of February.
VeriFone Systems (NYSE: PAY) 7% LOWER; reported Q4 EPS of $0.76, in-line with the analyst estimate of $0.76. Revenue for the quarter came in at $485 million versus the consensus estimate of $494.84 million. Sees Q1 2013 EPS of $0.70-0.73, versus the consensus of $0.75. VeriFone Systems sees Q1 2013 revenue of $490-500 million, versus the consensus of $498.55 million.
Adobe Systems, Inc. (NASDAQ: ADBE) 6% HIGHER; reported Q4 EPS of $0.61, versus the analyst estimate of $0.57. Revenue for the quarter came in at $1.15 billion versus the consensus estimate of $1.1 billion.
TiVo (NASDAQ: TIVO) 5% HIGHER; Goldman Sachs initiates coverage on TiVo with a Buy and $15 price target, saying pieces are falling into place.
NIC Inc. (NASDAQ: EGOV) 5% HIGHER; will replace OPNET Technologies Inc. (NASDAQ: OPNT) in the S&P SmallCap 600 after the close of trading on Tuesday, December 18. S&P MidCap 400 constituent Riverbed Technologies (NASDAQ: RVBD) is acquiring OPNET in a deal expected to be completed on or about that date pending final approvals.
SolarCity Corporation (NASDAQ: SCTY) 5% HIGHER; yesteday's hope IPO continues higher.
Isis Pharmaceuticals Inc. (NASDAQ: ISIS) 5% LOWER; announced that the Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency (EMA) has adopted a negative opinion for its marketing authorization application (MAA) for KYNAMRO (mipomersen) for the treatment of patients with Homozygous Familial Hypercholesterolaemia (HoFH). Genzyme plans to request a re-examination of the CHMP Opinion
AVG Technologies N.V. (NYSE: AVG) 4% HIGHER; announced a new Search and Distribution relationship with Yahoo! Inc. (NASDAQ: YHOO).
Leap Wireless International Inc. (NASDAQ: LEAP) 3% HIGHER; renewed takeover speculation
Lpath, Inc. (NASDAQ: LPTN) 3% LOWER; intends to offer and sell shares of its common stock in an underwritten public offering. The offering is subject to market conditions and there can be no assurance as to whether or when the offering may be complete, or as to the actual size or terms of the offering. Summer Street Research Partners is acting as sole book-running manager for the offering.
Apple Inc. (Nasdaq: AAPL) 3% LOWER; estimates, price target cut at UBS
Cirrus Logic Inc. (Nasdaq: CRUS) 3% LOWER; lower on Apple weakness
NII Holdings, Inc. (Nasdaq: NIHD) 3% LOWER; announces that its Board of Directors has appointed Steven M. Shindler, currently Chairman of the Board, to the additional position of interim Chief Executive Officer, effective immediately.
Clearwire Corporation (Nasdaq: CLWR) 3% LOWER; Concerns Softbank will keep a lid on bidding
Wynn Resorts Ltd. (Nasdaq: WYNN) 3% LOWER; downgraded at UBS
Boston Scientific (NYSE: BSX) 2% HIGHER; Barclays upgraded from Equalweight to Overweight with a price target of $7.00 (from $6.00).
Marathon Oil (NYSE: MRO) 2% HIGHER; Goldman Sachs upgraded from Neutral to Buy with a price target of $39.00 (from $35.00).
LaSalle Hotel Properties (NYSE: LHO) 2% LOWER; plans to sell 7,000,000 common shares in an underwritten public offering pursuant to its effective shelf registration statement previously filed with the Securities and Exchange Commission.
United Technologies Corp. (NYSE: UTX) 1% LOWER; sees FY13 EPS of $5.85 to $6.15, versus the consensus of $6.13
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