StreetInsider.com Pre-Open Movers 6/11: (QCOR) (BEAT) (DOLE) Higher; (LULU) (COCO) (LDK) Lower (more...)
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Questcor Pharmacueticals, Inc. (NASDAQ: QCOR) 37.1% HIGHER; acquired rights to develop Synacthen® and Synacthen Depot in the U.S. from Novartis Pharma AG (NYSE: NVS) and Novartis AG.
CardioNet, Inc. (NASDAQ: BEAT) 30.8% HIGHER; entered into a three-year National Provider Agreement with UnitedHealthcare Insurance Company (NYSE: UNH), covering all of CardioNet's monitoring modalities, including Mobile Cardiac Outpatient Telemetry (MCOTTM).
Dole Food Company, Inc. (NYSE: DOLE) 21.9% HIGHER; announced that its Board of Directors has received an unsolicited proposal from David H. Murdock, the Company's Chairman of the Board and CEO, to acquire all of the outstanding shares of common stock of Dole Food Company, Inc. not already owned by Mr. Murdock or his family for $12.00 per share in cash.
Corinthian Colleges Inc. (NASDAQ: COCO) 16.5% LOWER; received a subpoena from the Securities and Exchange Commission (“SEC”). In a letter accompanying the subpoena, the SEC stated that it is conducting an investigation of the Company. The SEC’s subpoena requests the production of documents and communications that, among other things, relate to student information in the areas of recruitment, attendance, completion, placement, defaults on federal loans and on alternative loans, as well as compliance with U.S. Department of Education financial requirements, standards and ratios (including the effect of certain borrowings under the Company’s credit facility on the Company’s composite score, and 90/10 compliance), and other corporate, operational, financial and accounting matters. The Company intends to cooperate with the SEC in its investigation.
Catamaran (Nasdaq: CTRX) 15.1% HIGHER; Cigna Corp (NYSE: CI) announced it will build on its pharmacy benefits business by entering into a ten-year strategic PBM partnering agreement with Catamaran which combines the customer focus and clinical excellence of Cigna's pharmacy team with the capabilities of Catamaran, and the combined purchasing scale of the two companies.
lululemon athletica, inc. (NASDAQ: LULU) 14.1% LOWER; reported Q1 EPS of $0.32, $0.02 better than the analyst estimate of $0.30. Revenue for the quarter came in at $345.8 million versus the consensus estimate of $341.11 million. lululemon also announced today that after a five and half year tenure Christine Day will step down as the Company’s Chief Executive Officer when a successor is named. The Board has formed a search committee and enacted its CEO succession plan. Ms. Day’s decision is being announced at this time so the Board has the benefit of a healthy transition period, and can openly use that time for a thorough search for the next CEO.
LDK Solar (NYSE: LDK) 8% LOWER; reported Q1 EPS of ($1.21), $0.25 worse than the analyst estimate of ($0.96). Revenue for the quarter came in at $104.3 million versus the consensus estimate of $97.2 million. Shipped 240.0 megawatts (MW) of wafers, 31.4 MW of cells and modules in the first quarter. LDK Solar sees Q213 revenue of $100-150 million, versus the consensus of $138.30 million. Sees wafer shipments between 250 MW and 300 MW and cell and module shipments between 30 MW and 40 MW.
Kinross Gold Corporation (NYSE: KGC) 6.8% LOWER; announced that the Company will not proceed with further development of the Fruta del Norte (FDN) project in Ecuador. The Company also informed the Government of Ecuador of this decision, and requested its cooperation in ensuring an orderly transition that respects the interests of both parties.
Synergetics Usa, Inc. (NASDAQ: SURG) 6% HIGHER; reported Q3 EPS of $0.05, $0.02 better than the analyst estimate of $0.03. Revenue for the quarter came in at $16.3 million versus the consensus estimate of $14.99 million.
Diamond Foods, Inc. (NASDAQ: DMND) 5.5% HIGHER; reported Q3 EPS of $0.05, $0.22 better than the analyst estimate of ($0.17). Revenue for the quarter came in at $184.9 million versus the consensus estimate of $175.78 million. Diamond plans to file an amendment to its quarterly report on Form 10-Q for the quarterly period ended January 31, 2013, to restate its previously reported GAAP diluted earnings (loss) per share for the three and six months ended January 31, 2013.
Crosstex Energy, L.P. (NASDAQ: XTEX) 5.3% LOWER; priced an underwritten public offering of 7,200,000 common units representing limited partner interests of the Partnership at $20.33 per common unit. The offering is expected to close on or about June 14, 2013. The Partnership has also granted the underwriters a 30-day option to purchase up to 1,080,000 additional common units. The Partnership intends to use the net proceeds from this offering, including any net proceeds from the underwriters’ exercise of their option, for capital expenditures for currently identified projects, including the Cajun-Sibon natural gas liquids pipeline expansion, and for general partnership purposes.
Pep Boys (NYSE: PBY) 2.5% LOWER; reported Q1 EPS of $0.07. May not compare to estimate of $0.09. Revenue for the quarter came in at $536.2 million versus the consensus estimate of $532.83 million.
MBIA, Inc. (NYSE: MBI) 2.4% LOWER; Bruce R. Berkowitz's fund Fairholme Capital disclosed a 1.17%, or 2,250,100 share, stake in the company. This is down 92.84% from the 31,425,820 shares held at the end of the latest quarter ending March 31, 2013.
Sprint Nextel (NYSE: S) 2.4% HIGHER; SoftBank raises offer
The Timken Company (NYSE: TKR) 2.1% HIGHER; formed a Strategy Committee to evaluate a potential separation of the company's steel business from its other businesses and to review the company's corporate governance and capital allocation strategy. The formation of the Committee is in response to the non-binding shareholder proposal that was recently approved at the company's 2013 Annual Meeting of Shareholders.
Texas Instruments (NASDAQ: TXN) 1.7% LOWER; narrowed its expected ranges for revenue and earnings per share (EPS) for Q2. The company currently expects its financial results to be within the following ranges: * Revenue: $2.99 – 3.11 billion compared with the prior range of $2.93 – 3.17 billion
* EPS: $0.39 – 0.43 compared with the prior range of $0.37 – 0.45. *** The Street sees Q2 revs of $3.06 billion and EPS of $0.42.
Annie's, Inc. (NYSE: BNNY) 1.6% LOWER; reported Q4 EPS of $0.29, $0.01 better than the analyst estimate of $0.28. Revenue for the quarter came in at $0 versus the consensus estimate of $50.73 million. Annie's, Inc. sees FY2014 EPS of $0.97-1.01, versus the consensus of $1.01.
Himax Technologies, Inc. (Nasdaq: HIMX) 1% LOWER; announced the commencement of an offering of 22,086,742 American Depositary Shares, each representing two ordinary shares of the Company, by selling shareholder Innolux Corporation.
CardioNet, Inc. (NASDAQ: BEAT) 30.8% HIGHER; entered into a three-year National Provider Agreement with UnitedHealthcare Insurance Company (NYSE: UNH), covering all of CardioNet's monitoring modalities, including Mobile Cardiac Outpatient Telemetry (MCOTTM).
Dole Food Company, Inc. (NYSE: DOLE) 21.9% HIGHER; announced that its Board of Directors has received an unsolicited proposal from David H. Murdock, the Company's Chairman of the Board and CEO, to acquire all of the outstanding shares of common stock of Dole Food Company, Inc. not already owned by Mr. Murdock or his family for $12.00 per share in cash.
Corinthian Colleges Inc. (NASDAQ: COCO) 16.5% LOWER; received a subpoena from the Securities and Exchange Commission (“SEC”). In a letter accompanying the subpoena, the SEC stated that it is conducting an investigation of the Company. The SEC’s subpoena requests the production of documents and communications that, among other things, relate to student information in the areas of recruitment, attendance, completion, placement, defaults on federal loans and on alternative loans, as well as compliance with U.S. Department of Education financial requirements, standards and ratios (including the effect of certain borrowings under the Company’s credit facility on the Company’s composite score, and 90/10 compliance), and other corporate, operational, financial and accounting matters. The Company intends to cooperate with the SEC in its investigation.
Catamaran (Nasdaq: CTRX) 15.1% HIGHER; Cigna Corp (NYSE: CI) announced it will build on its pharmacy benefits business by entering into a ten-year strategic PBM partnering agreement with Catamaran which combines the customer focus and clinical excellence of Cigna's pharmacy team with the capabilities of Catamaran, and the combined purchasing scale of the two companies.
lululemon athletica, inc. (NASDAQ: LULU) 14.1% LOWER; reported Q1 EPS of $0.32, $0.02 better than the analyst estimate of $0.30. Revenue for the quarter came in at $345.8 million versus the consensus estimate of $341.11 million. lululemon also announced today that after a five and half year tenure Christine Day will step down as the Company’s Chief Executive Officer when a successor is named. The Board has formed a search committee and enacted its CEO succession plan. Ms. Day’s decision is being announced at this time so the Board has the benefit of a healthy transition period, and can openly use that time for a thorough search for the next CEO.
LDK Solar (NYSE: LDK) 8% LOWER; reported Q1 EPS of ($1.21), $0.25 worse than the analyst estimate of ($0.96). Revenue for the quarter came in at $104.3 million versus the consensus estimate of $97.2 million. Shipped 240.0 megawatts (MW) of wafers, 31.4 MW of cells and modules in the first quarter. LDK Solar sees Q213 revenue of $100-150 million, versus the consensus of $138.30 million. Sees wafer shipments between 250 MW and 300 MW and cell and module shipments between 30 MW and 40 MW.
Kinross Gold Corporation (NYSE: KGC) 6.8% LOWER; announced that the Company will not proceed with further development of the Fruta del Norte (FDN) project in Ecuador. The Company also informed the Government of Ecuador of this decision, and requested its cooperation in ensuring an orderly transition that respects the interests of both parties.
Synergetics Usa, Inc. (NASDAQ: SURG) 6% HIGHER; reported Q3 EPS of $0.05, $0.02 better than the analyst estimate of $0.03. Revenue for the quarter came in at $16.3 million versus the consensus estimate of $14.99 million.
Diamond Foods, Inc. (NASDAQ: DMND) 5.5% HIGHER; reported Q3 EPS of $0.05, $0.22 better than the analyst estimate of ($0.17). Revenue for the quarter came in at $184.9 million versus the consensus estimate of $175.78 million. Diamond plans to file an amendment to its quarterly report on Form 10-Q for the quarterly period ended January 31, 2013, to restate its previously reported GAAP diluted earnings (loss) per share for the three and six months ended January 31, 2013.
Crosstex Energy, L.P. (NASDAQ: XTEX) 5.3% LOWER; priced an underwritten public offering of 7,200,000 common units representing limited partner interests of the Partnership at $20.33 per common unit. The offering is expected to close on or about June 14, 2013. The Partnership has also granted the underwriters a 30-day option to purchase up to 1,080,000 additional common units. The Partnership intends to use the net proceeds from this offering, including any net proceeds from the underwriters’ exercise of their option, for capital expenditures for currently identified projects, including the Cajun-Sibon natural gas liquids pipeline expansion, and for general partnership purposes.
Pep Boys (NYSE: PBY) 2.5% LOWER; reported Q1 EPS of $0.07. May not compare to estimate of $0.09. Revenue for the quarter came in at $536.2 million versus the consensus estimate of $532.83 million.
MBIA, Inc. (NYSE: MBI) 2.4% LOWER; Bruce R. Berkowitz's fund Fairholme Capital disclosed a 1.17%, or 2,250,100 share, stake in the company. This is down 92.84% from the 31,425,820 shares held at the end of the latest quarter ending March 31, 2013.
Sprint Nextel (NYSE: S) 2.4% HIGHER; SoftBank raises offer
The Timken Company (NYSE: TKR) 2.1% HIGHER; formed a Strategy Committee to evaluate a potential separation of the company's steel business from its other businesses and to review the company's corporate governance and capital allocation strategy. The formation of the Committee is in response to the non-binding shareholder proposal that was recently approved at the company's 2013 Annual Meeting of Shareholders.
Texas Instruments (NASDAQ: TXN) 1.7% LOWER; narrowed its expected ranges for revenue and earnings per share (EPS) for Q2. The company currently expects its financial results to be within the following ranges: * Revenue: $2.99 – 3.11 billion compared with the prior range of $2.93 – 3.17 billion
* EPS: $0.39 – 0.43 compared with the prior range of $0.37 – 0.45. *** The Street sees Q2 revs of $3.06 billion and EPS of $0.42.
Annie's, Inc. (NYSE: BNNY) 1.6% LOWER; reported Q4 EPS of $0.29, $0.01 better than the analyst estimate of $0.28. Revenue for the quarter came in at $0 versus the consensus estimate of $50.73 million. Annie's, Inc. sees FY2014 EPS of $0.97-1.01, versus the consensus of $1.01.
Himax Technologies, Inc. (Nasdaq: HIMX) 1% LOWER; announced the commencement of an offering of 22,086,742 American Depositary Shares, each representing two ordinary shares of the Company, by selling shareholder Innolux Corporation.
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