Largest Net $ Movers of Note 09/21
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UPWARD MOVERS:
Gymboree Corp. (Nasdaq: GYMB) +$4.05; Increased net sales and earnings expectations for both the third quarter and full year of fiscal 2006. The Company now expects earnings for the third fiscal quarter of 2006 to be in the range of $0.53 to $0.55 per diluted share, compared to prior Company guidance of $0.43 to $0.45 per diluted share for the same period. Full fiscal year earnings are expected to be in the range of $1.67 to $1.70 per diluted share, representing a $0.10 increase from prior guidance. The Q3 consensus is $0.48 and FY consensus is $1.66.
Herman Miller (Nasdaq: MLHR) +$3.77; Reports Q1 EPS of $0.43, 6 cents better than estimates.(0.37) Revenues were $449.7 million vs. $444.89 million consensus. The company sees Q2 EPS of $0.53-$0.57, versus the consensus of $0.45. Sees Q2 sales of $490-$510 million versus the consensus of $470 million.
Serono (NYSE: SRA) +$3.09; Merck KGaA entered into an agreement with the Bertarelli Family, which owns the majority stake of Serono SA (NYSE: SRA), to purchase their Serono shares. The offer price represents a 20% premium to the share price as of September 20, 2006, and a total equity value of CHF 16.6 billion (approximately EUR 10.6 billion/$13.3 billion) on a fully diluted basis.
Ritchie Bros. Auctioneers (NYSE: RBA) +$2.60; Raymond James upgrades RBA from Market Perform to Outperform.
Carnival Corp. (NYSE: CCL) +$1.79; Carnival Corporation (NYSE: CCL) reports Q3 EPS of $1.49, 3 cents better than estimates. Revenues were $3.91 billion vs. $3.83 billion consensus. The company expects diluted earnings per share for the fourth quarter of 2006 to be in the range of $0.46 to $0.48. Current consensus is $0.46. The CEO also noted that for the full year the company is currently on track to post earnings per share of $2.71 to $2.73. Current consensus is $2.71.
DOWNWARD MOVERS:
InfoSpace Inc. (Nasdaq: INSP) -$4.61; Expects its revenues, as well as its operating results, to be negatively impacted after informed by one of its carrier partners that it plans to develop direct licensing relationships with the major record labels beginning in early 2007.
Express Scripts Inc. (Nasdaq: ESRX) -$3.52; Stock seeing pressure after Wal-Mart (NYSE: WMT) said it make nearly 300 generic drugs available for only $4 per prescription for up to a 30-day supply at commonly prescribed dosages.
FormFactor Inc. (Nasdaq: FORM) -$3.49; Stock down over 7%, however, no specific news released today.
Walgreen (NYSE: WAG) -$3.12; Stock seeing pressure after Wal-Mart Stores (NYSE: WMT) said it make nearly 300 generic drugs available for only $4 per prescription for up to a 30-day supply at commonly prescribed dosages.
CVS Corp. (NYSE: CVS) 9.3% LOWER; Stock seeing pressure after Wal-Mart Stores (NYSE: WMT) said it make nearly 300 generic drugs available for only $4 per prescription for up to a 30-day supply at commonly prescribed dosages.
Gymboree Corp. (Nasdaq: GYMB) +$4.05; Increased net sales and earnings expectations for both the third quarter and full year of fiscal 2006. The Company now expects earnings for the third fiscal quarter of 2006 to be in the range of $0.53 to $0.55 per diluted share, compared to prior Company guidance of $0.43 to $0.45 per diluted share for the same period. Full fiscal year earnings are expected to be in the range of $1.67 to $1.70 per diluted share, representing a $0.10 increase from prior guidance. The Q3 consensus is $0.48 and FY consensus is $1.66.
Herman Miller (Nasdaq: MLHR) +$3.77; Reports Q1 EPS of $0.43, 6 cents better than estimates.(0.37) Revenues were $449.7 million vs. $444.89 million consensus. The company sees Q2 EPS of $0.53-$0.57, versus the consensus of $0.45. Sees Q2 sales of $490-$510 million versus the consensus of $470 million.
Serono (NYSE: SRA) +$3.09; Merck KGaA entered into an agreement with the Bertarelli Family, which owns the majority stake of Serono SA (NYSE: SRA), to purchase their Serono shares. The offer price represents a 20% premium to the share price as of September 20, 2006, and a total equity value of CHF 16.6 billion (approximately EUR 10.6 billion/$13.3 billion) on a fully diluted basis.
Ritchie Bros. Auctioneers (NYSE: RBA) +$2.60; Raymond James upgrades RBA from Market Perform to Outperform.
Carnival Corp. (NYSE: CCL) +$1.79; Carnival Corporation (NYSE: CCL) reports Q3 EPS of $1.49, 3 cents better than estimates. Revenues were $3.91 billion vs. $3.83 billion consensus. The company expects diluted earnings per share for the fourth quarter of 2006 to be in the range of $0.46 to $0.48. Current consensus is $0.46. The CEO also noted that for the full year the company is currently on track to post earnings per share of $2.71 to $2.73. Current consensus is $2.71.
DOWNWARD MOVERS:
InfoSpace Inc. (Nasdaq: INSP) -$4.61; Expects its revenues, as well as its operating results, to be negatively impacted after informed by one of its carrier partners that it plans to develop direct licensing relationships with the major record labels beginning in early 2007.
Express Scripts Inc. (Nasdaq: ESRX) -$3.52; Stock seeing pressure after Wal-Mart (NYSE: WMT) said it make nearly 300 generic drugs available for only $4 per prescription for up to a 30-day supply at commonly prescribed dosages.
FormFactor Inc. (Nasdaq: FORM) -$3.49; Stock down over 7%, however, no specific news released today.
Walgreen (NYSE: WAG) -$3.12; Stock seeing pressure after Wal-Mart Stores (NYSE: WMT) said it make nearly 300 generic drugs available for only $4 per prescription for up to a 30-day supply at commonly prescribed dosages.
CVS Corp. (NYSE: CVS) 9.3% LOWER; Stock seeing pressure after Wal-Mart Stores (NYSE: WMT) said it make nearly 300 generic drugs available for only $4 per prescription for up to a 30-day supply at commonly prescribed dosages.
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