Largest $ Movers of Note - StreetInsider.com - 07/31/07
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UPWARD MOVERS:
Under Armour (NYSE: UA) +$8.00; Reports Q2 earnings of $0.11 per share, 8 cents better than estimates. Revenues came in at $120.5 million versus the consensus of $105.5 million. Sees FY07 revenues of $580-$590 million versus the consensus of $583.3 million.
FARO Technologies, Inc. (Nasdaq: FARO) +$7.04; Reports Q2 EPS of $0.39, 11 cents better than estimates. Revenues were $47.6 million vs. $46.01 million consensus. "Our second quarter results are tracking towards the Company's long-term model. Looking at the second half of 2007, we are maintaining our previously stated full year guidance ranges of approximately 20% - 25% sales growth and 57% to 59% gross margin."
Dow Jones (NYSE: DJ) +$5.95; CNBC reports the acquisition deal between News Corp (NYSE: NWS) and Dow Jones is a 'Done Deal', but hasn't officially been signed yet. CNBC reporter says people familiar with the situation say the deal is done, the details of how the fees are being paid is the only issue before closing...which should come later tonight. Separately, the WSJ reports: Bancroft family members owning 32% of Dow Jones' overall votes have agreed to support News Corp's $5 billion bid, likely enough to clinch a deal.
Cambridge Display Technology (Nasdaq: OLED) +$5.43; Sumitomo Chemical Company and Cambridge Display jointly announced that they have entered into a definitive merger agreement whereby Sumitomo Chemical will acquire CDT, a developer of technologies based on polymer organic light emitting diodes (P-OLEDs). Under the merger agreement, Sumitomo Chemical will acquire all outstanding shares of CDT common stock at a price of $12 per share in cash, for an aggregate purchase price of approximately $285 million.
Aftermarket Technology Corp. (Nasdaq: ATAC) +$4.72; Reports Q2 EPS of $0.46, 5 cents better than estimates. Revenues were $130.8 million vs. $141.57 million consensus. Company raises 2007 earnings guidance from $1.35-$1.55 to $1.55-$1.70 per diluted share (Consensus is $1.65)
DOWNWARD MOVERS:
DXP Enterprises (Nasdaq: DXPE) -$11.47; Reports Q2 EPS of $0.56, versus the consensus of $0.66. Sales rose to $85.3 million versus the consensus of $83.94 million.
American Home Mortgage Investment Corp. (NYSE: AHM) -$9.12: Announced that it is working diligently to determine how best to resolve the liquidity issues that have recently developed with respect to its business. These issues are primarily the result of the unprecedented disruption now occurring generally in the secondary mortgage market. Additionally, American Home's lenders have initiated margin calls in response to the decline in the collateral value of certain of the Company's loans and securities held in its portfolio. Based on the foregoing, the Company at present is unable to borrow on its credit facilities and was unable to fund its lending obligations yesterday of approximately $300 million. It does not anticipate funding approximately $450 to $500 million today.
Twin Disc, Inc. (Nasdaq: TWIN) -$8.78; Reports Q4 EPS of $0.83 compared to $0.95 for the same period last year. Revenues were $90.78 million compared to $72.53 million for the same period last year. Company declares quarterly dividend and stock buyback plan.
LCA-Vision Inc. (Nasdaq: LCAV) -$7.23; reports Q2 EPS of $0.36 vs. consensus of $0.44. Revenues were $69.7 million vs. $73.97 million consensus. LCA-Vision is revising its earnings and revenue guidance for the full-year of 2007. The company now expects earnings per diluted share to be in the range of $1.90 to $2.00, and revenues between $308.0 million to $315.0 million, which includes the impact of deferred revenues. For the third quarter of 2007, marketing spend is expected to be approximately $17.5 million. (FY07 EPS consensus is $2.10 and revenue consensus is $308.12 million)
MGIC Investment Corporation (NYSE: MTG) -$7.05; Has concluded that the value of its investment in Credit-Based Asset Servicing and Securitization LLC ("C-BASS") has been materially impaired. C-BASS is a limited liability company whose interests are owned by MGIC, Radian Group Inc. (NYSE: RDN) and the management of C-BASS.
Under Armour (NYSE: UA) +$8.00; Reports Q2 earnings of $0.11 per share, 8 cents better than estimates. Revenues came in at $120.5 million versus the consensus of $105.5 million. Sees FY07 revenues of $580-$590 million versus the consensus of $583.3 million.
FARO Technologies, Inc. (Nasdaq: FARO) +$7.04; Reports Q2 EPS of $0.39, 11 cents better than estimates. Revenues were $47.6 million vs. $46.01 million consensus. "Our second quarter results are tracking towards the Company's long-term model. Looking at the second half of 2007, we are maintaining our previously stated full year guidance ranges of approximately 20% - 25% sales growth and 57% to 59% gross margin."
Dow Jones (NYSE: DJ) +$5.95; CNBC reports the acquisition deal between News Corp (NYSE: NWS) and Dow Jones is a 'Done Deal', but hasn't officially been signed yet. CNBC reporter says people familiar with the situation say the deal is done, the details of how the fees are being paid is the only issue before closing...which should come later tonight. Separately, the WSJ reports: Bancroft family members owning 32% of Dow Jones' overall votes have agreed to support News Corp's $5 billion bid, likely enough to clinch a deal.
Cambridge Display Technology (Nasdaq: OLED) +$5.43; Sumitomo Chemical Company and Cambridge Display jointly announced that they have entered into a definitive merger agreement whereby Sumitomo Chemical will acquire CDT, a developer of technologies based on polymer organic light emitting diodes (P-OLEDs). Under the merger agreement, Sumitomo Chemical will acquire all outstanding shares of CDT common stock at a price of $12 per share in cash, for an aggregate purchase price of approximately $285 million.
Aftermarket Technology Corp. (Nasdaq: ATAC) +$4.72; Reports Q2 EPS of $0.46, 5 cents better than estimates. Revenues were $130.8 million vs. $141.57 million consensus. Company raises 2007 earnings guidance from $1.35-$1.55 to $1.55-$1.70 per diluted share (Consensus is $1.65)
DOWNWARD MOVERS:
DXP Enterprises (Nasdaq: DXPE) -$11.47; Reports Q2 EPS of $0.56, versus the consensus of $0.66. Sales rose to $85.3 million versus the consensus of $83.94 million.
American Home Mortgage Investment Corp. (NYSE: AHM) -$9.12: Announced that it is working diligently to determine how best to resolve the liquidity issues that have recently developed with respect to its business. These issues are primarily the result of the unprecedented disruption now occurring generally in the secondary mortgage market. Additionally, American Home's lenders have initiated margin calls in response to the decline in the collateral value of certain of the Company's loans and securities held in its portfolio. Based on the foregoing, the Company at present is unable to borrow on its credit facilities and was unable to fund its lending obligations yesterday of approximately $300 million. It does not anticipate funding approximately $450 to $500 million today.
Twin Disc, Inc. (Nasdaq: TWIN) -$8.78; Reports Q4 EPS of $0.83 compared to $0.95 for the same period last year. Revenues were $90.78 million compared to $72.53 million for the same period last year. Company declares quarterly dividend and stock buyback plan.
LCA-Vision Inc. (Nasdaq: LCAV) -$7.23; reports Q2 EPS of $0.36 vs. consensus of $0.44. Revenues were $69.7 million vs. $73.97 million consensus. LCA-Vision is revising its earnings and revenue guidance for the full-year of 2007. The company now expects earnings per diluted share to be in the range of $1.90 to $2.00, and revenues between $308.0 million to $315.0 million, which includes the impact of deferred revenues. For the third quarter of 2007, marketing spend is expected to be approximately $17.5 million. (FY07 EPS consensus is $2.10 and revenue consensus is $308.12 million)
MGIC Investment Corporation (NYSE: MTG) -$7.05; Has concluded that the value of its investment in Credit-Based Asset Servicing and Securitization LLC ("C-BASS") has been materially impaired. C-BASS is a limited liability company whose interests are owned by MGIC, Radian Group Inc. (NYSE: RDN) and the management of C-BASS.
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