StreetInsider.com Pre-Open Movers 02/26
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StreetInsider.com Pre-Open Movers:
Hub International Limited (NYSE: HBG) 14.5% HIGHER; entereed into an agreement to be acquired by funds advised by Apax Partners together with Morgan Stanley Principal Investments, through an Arrangement Agreement and related Plan of Arrangement. Under the terms of the Arrangement Agreement, HUB shareholders will receive US$40.00 per share in cash.
TXU Corp. (NYSE: TXU) 13.8% HIGHR; together with Kohlberg Kravis Roberts & Co., Texas Pacific Group, and Goldman Sachs & Co. announced the execution of a definitive merger agreement under which an investor group led by KKR and TPG will acquire TXU in a transaction valued at $45 billion.
Temple-Inland Inc. (NYSE: TIN) 13% HIGHER; has approved a transformation plan to unlock shareholder value through the separation of Temple-Inland into three focused, stand-alone, public companies and the sale of its strategic timberland.
JAKKS Pacific, Inc. (Nasdaq: JAKK) 11% HIGHER; expects to report Q4 EPS of $0.73 (including pre-tax non-cash stock-based compensation) vs. consensus of $0.67. Revenues were $238.3 million vs. $218.10 million consensus. "For our initial 2007 guidance, we expect net sales of at least $800.0 million in 2007, with net income of $75.8 million, or $2.39 earnings per diluted share. This forecast anticipates first quarter net sales in the range of $114.0 million to $120.0 million, and diluted earnings per share of $0.07 to $0.10." (Current FY07 revenue consensus is $705.0 million and EPS consensus is $2.24 - Q1 revenue consensus is $120.0 million and EPS consensus is $0.04)
STATS ChipPAC Ltd. (NASDAQ: STTS) 8% HIGHER; Nomura upgrades to Strong Buy
Shares of Dow Chemical Co. (NYSE: DOW) 8% HIGHER; rumors reported in the Sunday Express that the company could be the target of a leveraged buyout. The paper said the company could receive a $54 billion bid from a consortium of private equity buyers.
Gehl Company (NASDAQ: GEHL) 6.9% LOWER; reported Q4 EPS of $0.40, 4 cents worse than estimates. Revenues were $103.6 million vs. $109.25 million consensus. The Company expects net income per share from continuing operations of $2.00 to $2.30 in 2007. (FY07 EPS consensus is $2.41)
GulfMark Offshore, Inc. (Nasdaq: GMRK) 6.9% HIGHER; reports Q4 EPS of $1.25 (ex-gains) vs. consensus of $0.90. Revenues were $69.0 million vs. $61.86 million consensus.
Station Casinos, Inc. (NYSE: STN) 4.4% HIGHER; entered into a definitive agreement with Fertitta Colony Partners LLC pursuant to which FCP has agreed to acquire all of Station's outstanding common stock for $90 per share in cash. The past bid was $82.
Brightpoint Inc. (Nasdaq: CELL) 3.75% HIGHER; Jefferies upgrades to Buy
Merck & Co. Inc. (NYSE: MRK) 3.4% HIGHER; Delay for Novartis' Galvus; Citigroup upgrade
Novartis (NYSE: NVS) 3% LOWER'; FDA has issued an Approvable Letter to Novartis requesting that the company conduct additional studies on the experimental diabetes drug, Galvus (before approving it).
Research In Motion Ltd. (Nasdaq: RIMM) 3% HIGHER; RBC Capital upgrades to Outperform
Hub International Limited (NYSE: HBG) 14.5% HIGHER; entereed into an agreement to be acquired by funds advised by Apax Partners together with Morgan Stanley Principal Investments, through an Arrangement Agreement and related Plan of Arrangement. Under the terms of the Arrangement Agreement, HUB shareholders will receive US$40.00 per share in cash.
TXU Corp. (NYSE: TXU) 13.8% HIGHR; together with Kohlberg Kravis Roberts & Co., Texas Pacific Group, and Goldman Sachs & Co. announced the execution of a definitive merger agreement under which an investor group led by KKR and TPG will acquire TXU in a transaction valued at $45 billion.
Temple-Inland Inc. (NYSE: TIN) 13% HIGHER; has approved a transformation plan to unlock shareholder value through the separation of Temple-Inland into three focused, stand-alone, public companies and the sale of its strategic timberland.
JAKKS Pacific, Inc. (Nasdaq: JAKK) 11% HIGHER; expects to report Q4 EPS of $0.73 (including pre-tax non-cash stock-based compensation) vs. consensus of $0.67. Revenues were $238.3 million vs. $218.10 million consensus. "For our initial 2007 guidance, we expect net sales of at least $800.0 million in 2007, with net income of $75.8 million, or $2.39 earnings per diluted share. This forecast anticipates first quarter net sales in the range of $114.0 million to $120.0 million, and diluted earnings per share of $0.07 to $0.10." (Current FY07 revenue consensus is $705.0 million and EPS consensus is $2.24 - Q1 revenue consensus is $120.0 million and EPS consensus is $0.04)
STATS ChipPAC Ltd. (NASDAQ: STTS) 8% HIGHER; Nomura upgrades to Strong Buy
Shares of Dow Chemical Co. (NYSE: DOW) 8% HIGHER; rumors reported in the Sunday Express that the company could be the target of a leveraged buyout. The paper said the company could receive a $54 billion bid from a consortium of private equity buyers.
Gehl Company (NASDAQ: GEHL) 6.9% LOWER; reported Q4 EPS of $0.40, 4 cents worse than estimates. Revenues were $103.6 million vs. $109.25 million consensus. The Company expects net income per share from continuing operations of $2.00 to $2.30 in 2007. (FY07 EPS consensus is $2.41)
GulfMark Offshore, Inc. (Nasdaq: GMRK) 6.9% HIGHER; reports Q4 EPS of $1.25 (ex-gains) vs. consensus of $0.90. Revenues were $69.0 million vs. $61.86 million consensus.
Station Casinos, Inc. (NYSE: STN) 4.4% HIGHER; entered into a definitive agreement with Fertitta Colony Partners LLC pursuant to which FCP has agreed to acquire all of Station's outstanding common stock for $90 per share in cash. The past bid was $82.
Brightpoint Inc. (Nasdaq: CELL) 3.75% HIGHER; Jefferies upgrades to Buy
Merck & Co. Inc. (NYSE: MRK) 3.4% HIGHER; Delay for Novartis' Galvus; Citigroup upgrade
Novartis (NYSE: NVS) 3% LOWER'; FDA has issued an Approvable Letter to Novartis requesting that the company conduct additional studies on the experimental diabetes drug, Galvus (before approving it).
Research In Motion Ltd. (Nasdaq: RIMM) 3% HIGHER; RBC Capital upgrades to Outperform
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