Largest Net $ Movers of Note 07/18
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UPWARD MOVERS:
The GEO Group (NYSE: GGI) +$3.79; The company increased its previously issued earnings guidance for the second quarter of 2006 by $0.12 per share to a pro forma range of $0.67 to $0.70 per share, versus the consensus of $0.56. The company increased its second quarter 2006 revenue guidance to a range of $205 million to $210 million, versus the consensus of $189.9 million. The GEO Group also raised full year guidance.
Covance Inc. (NYSE: CVD) +$3.35; Stock moving higher, no significant news out today
NDS Group plc (Nasdaq: NNDS) +$2.85; No significant news out today, the Company provides digital technology and services to digital pay television platform operators and content providers worldwide.
Pharmaceutical Product Development (Nasdaq: PPDI) +$2.18; Reports Q2 EPS of $0.31 (including $0.028 charge for stock expense), 2 cents better than estimates.(0.29) Revenues were $309. million vs. $274.54 million consensus.
ITT Industries Inc. (NYSE: ITT) +$2.05; Merrill Lynch upgrades ITT from Neutral to Buy.
DOWNWARD MOVERS:
Centene Corp. (NYSE: CNC) -$7.28; Announced preliminary earnings per diluted share of $0.10-$0.12 for the second quarter of 2006, which includes an adjustment of approximately $9.7 million, or $0.14 per diluted share, for additional medical costs primarily related to March 2006 in Indiana and Texas. The current consensus is $0.29. Centene also announced today that it is revising its 2006 annual earnings guidance to $0.95-$1.04 per diluted share from its previous guidance of $1.53-$1.70 per diluted share, primarily due to these adverse medical cost trends. The current consensus is $1.63.
BlackRock, Inc. (NYSE: BLK) -$6.64; Company reports adjusted Q2 EPS of $1.19, 2 cents better than estimates. Revenues were $360.7 million vs. $335.76 million consensus. BLK sees FY07 EPS between $6.45-$7.05 vs. $6.94 consensus.
Universal Forest Products (Nasdaq: UFPI) +$4.13; Reports Q2 EPS of $1.41, 3 cents better than estimates.(1.38) Revenues were $826.8 million vs. $919.96 million consensus. UFPI still targets 2006 unit sales up 10-15%, and year net earnings up 15-20%.
Wellcare Health Plans (NYSE: WCG) -$4.04; Stock down following Centene Corp earnings warning. Deutsche Bank initiated coverage on Health Care Plan Industry with a Hold.
China TechFaith Wireless (NASDAQ: CNTF) -$2.91; Company said it now expects revenue for the second quarter ended June 30 2006 will be approximately US$22.5 million, with net income of approximately US$4million. Prior guidance was revenue of US$24 million, with net income of approximately US$8.5 million.
The GEO Group (NYSE: GGI) +$3.79; The company increased its previously issued earnings guidance for the second quarter of 2006 by $0.12 per share to a pro forma range of $0.67 to $0.70 per share, versus the consensus of $0.56. The company increased its second quarter 2006 revenue guidance to a range of $205 million to $210 million, versus the consensus of $189.9 million. The GEO Group also raised full year guidance.
Covance Inc. (NYSE: CVD) +$3.35; Stock moving higher, no significant news out today
NDS Group plc (Nasdaq: NNDS) +$2.85; No significant news out today, the Company provides digital technology and services to digital pay television platform operators and content providers worldwide.
Pharmaceutical Product Development (Nasdaq: PPDI) +$2.18; Reports Q2 EPS of $0.31 (including $0.028 charge for stock expense), 2 cents better than estimates.(0.29) Revenues were $309. million vs. $274.54 million consensus.
ITT Industries Inc. (NYSE: ITT) +$2.05; Merrill Lynch upgrades ITT from Neutral to Buy.
DOWNWARD MOVERS:
Centene Corp. (NYSE: CNC) -$7.28; Announced preliminary earnings per diluted share of $0.10-$0.12 for the second quarter of 2006, which includes an adjustment of approximately $9.7 million, or $0.14 per diluted share, for additional medical costs primarily related to March 2006 in Indiana and Texas. The current consensus is $0.29. Centene also announced today that it is revising its 2006 annual earnings guidance to $0.95-$1.04 per diluted share from its previous guidance of $1.53-$1.70 per diluted share, primarily due to these adverse medical cost trends. The current consensus is $1.63.
BlackRock, Inc. (NYSE: BLK) -$6.64; Company reports adjusted Q2 EPS of $1.19, 2 cents better than estimates. Revenues were $360.7 million vs. $335.76 million consensus. BLK sees FY07 EPS between $6.45-$7.05 vs. $6.94 consensus.
Universal Forest Products (Nasdaq: UFPI) +$4.13; Reports Q2 EPS of $1.41, 3 cents better than estimates.(1.38) Revenues were $826.8 million vs. $919.96 million consensus. UFPI still targets 2006 unit sales up 10-15%, and year net earnings up 15-20%.
Wellcare Health Plans (NYSE: WCG) -$4.04; Stock down following Centene Corp earnings warning. Deutsche Bank initiated coverage on Health Care Plan Industry with a Hold.
China TechFaith Wireless (NASDAQ: CNTF) -$2.91; Company said it now expects revenue for the second quarter ended June 30 2006 will be approximately US$22.5 million, with net income of approximately US$4million. Prior guidance was revenue of US$24 million, with net income of approximately US$8.5 million.
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