StreetInsider.com After-Hours Movers 09/24
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StreetInsider.com After-Hours Movers:
Superconductor Technologies Inc. (Nasdaq: SCON) 19% HIGHER; Signed a term sheet to form a joint venture with Hunchun BaoLi Communication Co. Ltd. (BAOLI) by the end of 2007.
Lowe's Companies, Inc. (NYSE: LOW) 6% LOWER; indicated current sales are trending below its prior expectations as drought conditions in the mid-Atlantic, Southeastern and Western regions of the country have impacted the performance of outdoor categories. The company now expects to deliver earnings for the fiscal year at the low end or slightly below its prior guidance of $1.97 to 2.01. The Wall Street consensus is $1.99.
InterContinental Exchange Inc. (NYSE: ICE) 5% HIGHER; will be added to the S&P 500 after the close of trading on Tuesday, September 25. It will take the place of First Data Corp. (NYSE: FDC), which was removed from the S&P 500 after today’s close of trading pursuant to its completed acquisition by Kohlberg Kravis Roberts & Co.
Expedia Inc. (NASDAQ: EXPE) 5% HIGHER; will replace Solectron Corp. (NYSE: SLR) in the S&P 500 after the close of trading on Monday, October 1. Solectron is being acquired by Flextronics International Ltd. (NASDAQ: FLEX) in a deal expected to close on or about that date, pending final approvals.
Learning Tree (Nasdaq: LTRE) 4% LOWER; reports Q3 earnings of $0.22 per share, in-line with estimates. Revenues came in at $42.7 million versus the consensus of $42.6 million.
Target (NYSE: TGT) 3% LOWER; says September same-store sales will rise 1.5%-2%, below their prior forecast. The company had seen sales up 4%-6%.
Tesoro Corp. (NYSE: TSO) 3% HIGHER; will replace Maxim Integrated Products Inc. (NASDAQ: MXIM) in the S&P 500 after the close of trading on Wednesday, September 26. Maxim is scheduled to be delisted by the NASDAQ exchange after the close of trading on or about that date.
The Home Depot, Inc (NYSE: HD) 2.6% LOWER; is seeing some pressure in after-hours (-2%) action related to an earnings warning from rival Lowe's (NYSE: LOW).
optionsXpress Holdings Inc. (NASDAQ: OXPS) 2% HIGHER; will replace RARE Hospitality International Inc. (NASDAQ: RARE) in the S&P SmallCap 600 after the close of trading on Friday, September 28. RARE Hospitality is being acquired by S&P 500 constituent Darden Restaurants Inc. (NYSE: DRI) in a deal expected to close on or about that date, pending final approvals.
Kirby Corporation (NYSE: KEX) INDICTED HIGHER; expects its 2007 third quarter net earnings to exceed $.60 per share, above earnings guidance of $.53 to $.58 per share. The consensus is $.57.
Superconductor Technologies Inc. (Nasdaq: SCON) 19% HIGHER; Signed a term sheet to form a joint venture with Hunchun BaoLi Communication Co. Ltd. (BAOLI) by the end of 2007.
Lowe's Companies, Inc. (NYSE: LOW) 6% LOWER; indicated current sales are trending below its prior expectations as drought conditions in the mid-Atlantic, Southeastern and Western regions of the country have impacted the performance of outdoor categories. The company now expects to deliver earnings for the fiscal year at the low end or slightly below its prior guidance of $1.97 to 2.01. The Wall Street consensus is $1.99.
InterContinental Exchange Inc. (NYSE: ICE) 5% HIGHER; will be added to the S&P 500 after the close of trading on Tuesday, September 25. It will take the place of First Data Corp. (NYSE: FDC), which was removed from the S&P 500 after today’s close of trading pursuant to its completed acquisition by Kohlberg Kravis Roberts & Co.
Expedia Inc. (NASDAQ: EXPE) 5% HIGHER; will replace Solectron Corp. (NYSE: SLR) in the S&P 500 after the close of trading on Monday, October 1. Solectron is being acquired by Flextronics International Ltd. (NASDAQ: FLEX) in a deal expected to close on or about that date, pending final approvals.
Learning Tree (Nasdaq: LTRE) 4% LOWER; reports Q3 earnings of $0.22 per share, in-line with estimates. Revenues came in at $42.7 million versus the consensus of $42.6 million.
Target (NYSE: TGT) 3% LOWER; says September same-store sales will rise 1.5%-2%, below their prior forecast. The company had seen sales up 4%-6%.
Tesoro Corp. (NYSE: TSO) 3% HIGHER; will replace Maxim Integrated Products Inc. (NASDAQ: MXIM) in the S&P 500 after the close of trading on Wednesday, September 26. Maxim is scheduled to be delisted by the NASDAQ exchange after the close of trading on or about that date.
The Home Depot, Inc (NYSE: HD) 2.6% LOWER; is seeing some pressure in after-hours (-2%) action related to an earnings warning from rival Lowe's (NYSE: LOW).
optionsXpress Holdings Inc. (NASDAQ: OXPS) 2% HIGHER; will replace RARE Hospitality International Inc. (NASDAQ: RARE) in the S&P SmallCap 600 after the close of trading on Friday, September 28. RARE Hospitality is being acquired by S&P 500 constituent Darden Restaurants Inc. (NYSE: DRI) in a deal expected to close on or about that date, pending final approvals.
Kirby Corporation (NYSE: KEX) INDICTED HIGHER; expects its 2007 third quarter net earnings to exceed $.60 per share, above earnings guidance of $.53 to $.58 per share. The consensus is $.57.
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