StreetInsider.com Pre-Open Movers 12/4: (GALE) (BIG) (TOL) Higher; (GERN) (PBY) (DHI) Lower (more...)
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Geron Corp (NASDAQ: GERN) 27% LOWER; discontinued development of GRN1005, its peptide-drug conjugate designed to treat cancers in the brain. The company also announced a restructuring to reduce its workforce from 107 positions to 64 full-time positions, and to reduce its annual cash operating expenses from approximately $65 million in 2012 to approximately $33 million in 2013.
Galena Biopharma, Inc. (Nasdaq: GALE) font color="limegreen">15% HIGHER; signed an agreement with a subsidiary of Teva Pharmaceutical Industries Limited (NYSE: TEVA) for the commercialization of NeuVax (nelipepimut-S or E75) in Israel.
Electro Scientific Industries (NASDAQ: ESIO) 10% HIGHER; declared a special dividend of $2.00 per share.
Pep Boys (NYSE: PBY) 9% LOWER; reported Q3 EPS of ($0.13), $0.28 worse than the analyst estimate of $0.15. Revenue for the quarter came in at $509.6 million versus the consensus estimate of $527.68 million. Comps fell 1.8 percent.
Darden Restaurants, Inc. (NYSE: DRI) 9% LOWER; expects diluted net earnings per share from continuing operations of approximately 25 to 26 cents for its fiscal second quarter ended November 25, 2012 (the Street sees EPS of 47 cents). Darden cited company specific issues with the closing of its Yard House acquisition and also cited Hurricane Sandy
Young Innovations, Inc. (Nasdaq: YDNT) 9% HIGHER; announced that it has entered into a definitive agreement to be acquired by an affiliate of Linden Capital Partners, a Chicago-based private equity firm that focuses on middle market leveraged buyout investments in the healthcare and life science industries, for $39.50 per share.
Big Lots, Inc. (NYSE: BIG) 7% HIGHER; reported Q3 EPS of ($0.10), $0.14 better than the analyst estimate of ($0.24). Revenue for the quarter came in at $1.13 billion versus the consensus estimate of $1.14 billion. Comparable store sales for U.S. stores open at least fifteen months decreased 4.6% for the quarter. Big Lots, Inc. sees Q4 2012 EPS of $1.91-2.10, versus the consensus of $2.02. Big Lots, Inc. sees FY2012 EPS of $2.86-3.05, compared with Street expectations of $2.80.
Francesca's Holdings (NASDAQ: FRAN) 7% HIGHER; Jefferies upgraded from Hold to Buy with a price target of $38.00 (from $35.00).
Vail Resorts, Inc. (NYSE: MTN) 6% LOWER; reported Q1 EPS of ($1.70), $0.11 worse than the analyst estimate of ($1.59). Revenue for the quarter came in at $116.35 million versus the consensus estimate of $116.89 million.
MetroPCS Communications, Inc. (NYSE: PCS) 6% LOWER; Reports a Spring counter-bid is unlikely.
Advanced Micro Devices, Inc. (NYSE: AMD) 4% HIGHER; continued HQ sale and leaseback speculation.
Fifth Street Finance Corp. (Nasdaq: FSC) 4% LOWER; announced that it priced a public offering of 14,000,000 shares of its common stock at a public offering price of $10.68 per share for total gross proceeds of $149,520,000.
Toll Brothers, Inc. (NYSE: TOL) 4% HIGHER; reported Q4 EPS of $2.35, which includes a tax benefit of $350.7 million and does not compare to the analyst estimate of $0.24. Revenue for the quarter came in at $632.8 million versus the consensus estimate of $566.46 million. Net signed contracts of $684.1 million and 1,098 units rose 75% in dollars and 70% in units, compared to FY 2011's fourth quarter. On a per-community basis, FY 2012's fourth-quarter net signed contracts of 4.86 units per community were the highest for any fourth quarter since FY 2005. Backlog of $1.67 billion and 2,569 units rose 70% in dollars and 54% in units, compared to FY 2011's fourth-quarter-end backlog
PetMed Express, Inc. (NASDAQ: PETS) 4% HIGHER; declared a special dividend of $1.00 per share.
Alexza Pharmaceuticals Inc. (NASDAQ: ALXA) 4% HIGHER; new Buy rating at Roth
Demand Media, Inc. (NYSE: DMD) 4% LOWER; downgraded to Sell at Goldman Sachs
Select Income REIT (NYSE: SIR) 3% LOWER; commenced a public offering of 6,000,000 common shares.
New Mountain Finance Corporation (NYSE: NMFC) 3% LOWER; commenced a public offering of 3,000,000 shares of its common stock. In connection with the proposed offering, the Company intends to grant the underwriters for the offering an option to purchase up to an additional 450,000 shares of common stock.
PDL BioPharma, Inc. (PDL) (NASDAQ: PDLI) 3% LOWER; Bruce Tomlinson has resigned his position as vice president and chief financial officer of PDL due to personal reasons. His resignation is effective as of November 30, 2012. The company will begin a search for a new CFO.
Neuralstem, Inc. (NYSE: CUR) 3% HIGHER; extends today's 19% gains on the back of a positive article
IAC/InterActiveCorp (NASDAQ: IACI) 3% LOWER; downgraded to Sell at Goldman Sachs
Parkway Properties, Inc. (NYSE: PKY) 2% LOWER; commenced an underwritten public offering of 13,500,000 shares of common stock.
Atlas Pipeline Partners L.P. (NYSE: APL) 2% LOWER; has commenced an underwritten public offering of 9,250,000 common units representing limited partner interests. Oracle Corp (NASDAQ: ORCL) declared a special dividend of $0.18 per share after accelerating its Q2, Q3, Q4 dividend for fiscal 2013 ahead of the fiscal cliff.
Oracle Corp (NASDAQ: ORCL) 1% LOWER; declared a special dividend of $0.18 per share after accelerating its Q2, Q3, Q4 dividend for fiscal 2013 ahead of the fiscal cliff.
Galena Biopharma, Inc. (Nasdaq: GALE) font color="limegreen">15% HIGHER; signed an agreement with a subsidiary of Teva Pharmaceutical Industries Limited (NYSE: TEVA) for the commercialization of NeuVax (nelipepimut-S or E75) in Israel.
Electro Scientific Industries (NASDAQ: ESIO) 10% HIGHER; declared a special dividend of $2.00 per share.
Pep Boys (NYSE: PBY) 9% LOWER; reported Q3 EPS of ($0.13), $0.28 worse than the analyst estimate of $0.15. Revenue for the quarter came in at $509.6 million versus the consensus estimate of $527.68 million. Comps fell 1.8 percent.
Darden Restaurants, Inc. (NYSE: DRI) 9% LOWER; expects diluted net earnings per share from continuing operations of approximately 25 to 26 cents for its fiscal second quarter ended November 25, 2012 (the Street sees EPS of 47 cents). Darden cited company specific issues with the closing of its Yard House acquisition and also cited Hurricane Sandy
Young Innovations, Inc. (Nasdaq: YDNT) 9% HIGHER; announced that it has entered into a definitive agreement to be acquired by an affiliate of Linden Capital Partners, a Chicago-based private equity firm that focuses on middle market leveraged buyout investments in the healthcare and life science industries, for $39.50 per share.
Big Lots, Inc. (NYSE: BIG) 7% HIGHER; reported Q3 EPS of ($0.10), $0.14 better than the analyst estimate of ($0.24). Revenue for the quarter came in at $1.13 billion versus the consensus estimate of $1.14 billion. Comparable store sales for U.S. stores open at least fifteen months decreased 4.6% for the quarter. Big Lots, Inc. sees Q4 2012 EPS of $1.91-2.10, versus the consensus of $2.02. Big Lots, Inc. sees FY2012 EPS of $2.86-3.05, compared with Street expectations of $2.80.
Francesca's Holdings (NASDAQ: FRAN) 7% HIGHER; Jefferies upgraded from Hold to Buy with a price target of $38.00 (from $35.00).
Vail Resorts, Inc. (NYSE: MTN) 6% LOWER; reported Q1 EPS of ($1.70), $0.11 worse than the analyst estimate of ($1.59). Revenue for the quarter came in at $116.35 million versus the consensus estimate of $116.89 million.
MetroPCS Communications, Inc. (NYSE: PCS) 6% LOWER; Reports a Spring counter-bid is unlikely.
Advanced Micro Devices, Inc. (NYSE: AMD) 4% HIGHER; continued HQ sale and leaseback speculation.
Fifth Street Finance Corp. (Nasdaq: FSC) 4% LOWER; announced that it priced a public offering of 14,000,000 shares of its common stock at a public offering price of $10.68 per share for total gross proceeds of $149,520,000.
Toll Brothers, Inc. (NYSE: TOL) 4% HIGHER; reported Q4 EPS of $2.35, which includes a tax benefit of $350.7 million and does not compare to the analyst estimate of $0.24. Revenue for the quarter came in at $632.8 million versus the consensus estimate of $566.46 million. Net signed contracts of $684.1 million and 1,098 units rose 75% in dollars and 70% in units, compared to FY 2011's fourth quarter. On a per-community basis, FY 2012's fourth-quarter net signed contracts of 4.86 units per community were the highest for any fourth quarter since FY 2005. Backlog of $1.67 billion and 2,569 units rose 70% in dollars and 54% in units, compared to FY 2011's fourth-quarter-end backlog
PetMed Express, Inc. (NASDAQ: PETS) 4% HIGHER; declared a special dividend of $1.00 per share.
Alexza Pharmaceuticals Inc. (NASDAQ: ALXA) 4% HIGHER; new Buy rating at Roth
Demand Media, Inc. (NYSE: DMD) 4% LOWER; downgraded to Sell at Goldman Sachs
Select Income REIT (NYSE: SIR) 3% LOWER; commenced a public offering of 6,000,000 common shares.
New Mountain Finance Corporation (NYSE: NMFC) 3% LOWER; commenced a public offering of 3,000,000 shares of its common stock. In connection with the proposed offering, the Company intends to grant the underwriters for the offering an option to purchase up to an additional 450,000 shares of common stock.
PDL BioPharma, Inc. (PDL) (NASDAQ: PDLI) 3% LOWER; Bruce Tomlinson has resigned his position as vice president and chief financial officer of PDL due to personal reasons. His resignation is effective as of November 30, 2012. The company will begin a search for a new CFO.
Neuralstem, Inc. (NYSE: CUR) 3% HIGHER; extends today's 19% gains on the back of a positive article
IAC/InterActiveCorp (NASDAQ: IACI) 3% LOWER; downgraded to Sell at Goldman Sachs
Parkway Properties, Inc. (NYSE: PKY) 2% LOWER; commenced an underwritten public offering of 13,500,000 shares of common stock.
Atlas Pipeline Partners L.P. (NYSE: APL) 2% LOWER; has commenced an underwritten public offering of 9,250,000 common units representing limited partner interests. Oracle Corp (NASDAQ: ORCL) declared a special dividend of $0.18 per share after accelerating its Q2, Q3, Q4 dividend for fiscal 2013 ahead of the fiscal cliff.
Oracle Corp (NASDAQ: ORCL) 1% LOWER; declared a special dividend of $0.18 per share after accelerating its Q2, Q3, Q4 dividend for fiscal 2013 ahead of the fiscal cliff.
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