StreetInsider.com Pre-Open Movers 05/30
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StreetInsider.com Pre-Open Movers:
Healthcare Technologies Ltd. (NASDAQ: HCTL) 72% HIGHER; Revenues for the first quarter ended March 31, 2006 were $3.6 million, as compared to $3.1 million for the corresponding quarter last year, an increase of 16%. The net profit for the quarter was $352 thousand compared with a net profit of $163 thousand, for the first quarter of last year.
ADE Corp. (NASDAQ: ADEX) 23.8% HIGHER; KLA-Tencor Corporation (Nasdaq: KLAC) and ADE Corporation amended and restated their existing merger agreement to change the consideration that ADE stockholders will receive from KLA-Tencor common stock to $32.50 per share in cash.
Kinder Morgan Inc. (NYSE: KMI) 21.6% HIGHER; Richard D. Kinder, the Chairman and CEO of Kinder Morgan, Inc. announced that he, together with other members of management, co-founder Bill Morgan, current board members Fayez Sarofim and Mike Morgan, and investment partners Goldman Sachs Capital Partners, American International Group, Inc., The Carlyle Group and Riverstone Holdings LLC, has submitted a proposal to acquire all of the outstanding common stock of Kinder Morgan, Inc. at a price of $100 per share in cash.
CollaGenex Pharmaceuticals Inc. (NASDAQ: CGPI) 14.6% HIGHER; Receives FDA Approval for Oracea
Covad Communications (AMEX: DVW) 12% LOWER; 2006 net revenues are expected to be in the range of $475 - $485 million. 2006 net Loss is expected to be in the range of $39.5 - $29.5 million
Vical Inc. (NASDAQ: VICL) 11.8% HIGHER; Vical Incorporated (Nasdaq: VICL) and AnGes MG, Inc. announced a collaborative agreement for Vical's Allovectin-7 cancer immunotherapeutic. Under the agreement, AnGes will provide up to $100 million in ongoing clinical trial funding and future sales-based milestones as Allovectin-7 is successfully commercialized.
IDT Corp. (NYSE: IDT) 9% HIGHER; Positive Barron's write-up
Tribune Co. (NYSE: TRB) 7.6% HIGHER; to Repurchase up to 75 Million Common Shares
Level 3 Communications Inc. (NASDAQ: LVLT) 6.2% LOWER; offering an aggregate of 125 million shares of its common stock. The company also is offering $150 million aggregate principal amount of Convertible Senior Notes due 2012 in an underwritten offering.
CA, Inc. (NYSE: CA) 4.8% LOWER; to delay Q4 results. Reports preliminarily Q4 sales of $947 million and non-GAAP EPS of $0.14. Announces restatement of Q3 results.
Sirius Satellite Radio (Nasdaq: SIRI); Lehman Brothers upgrades from Equal Weight to Overweight
Kinder Morgan Energy Partners LP (NYSE: KMP) 4.3% HIGHER; KMI 'going private' offer
General Motors (NYSE: GM) 2.7% LOWER; Deutsche Bank downgrades from Hold to Sell.
JetBlue Airways Corp. (NASDAQ: JBLU) 2.6% HIGHER; Merrill Lynch upgrades JetBlue Airways from Sell to Neutral
Sun Microsystems Inc. (NASDAQ: SUNW) 1.6% HIGHER; UBS upgrades Sun Microsystems from Neutral to Buy with a $5.90 price target.
Dell Inc. (NASDAQ: DELL) 1% HIGHER; Michael Dell bought 2.92 million shares of the PC maker on 05/24 at $23.99. Shares of DELL are 1.6% higher in after-hours action on the news.
Marsh Supermarkets Inc. (NASDAQ: MARSA) INDICATED HIGHER; received an unsolicited letter, dated May 22, 2006, from Drawbridge Special Opportunities Advisors LLC and Cardinal Paragon, Inc. requesting that Marsh consent to Drawbridge/Cardinal making a proposal to acquire Marsh for $13.625 per share in cash, subject to completion of due diligence, and otherwise on substantially the same terms as the previously announced merger agreement with MSH Supermarkets Holding Corp., an affiliate of Sun Capital Partners.
Innovex Inc. (NASDAQ: INVX) INDICATED LOWER; said Q3 revenue is expected to range from $38 to $40 million, down from the Company's previous guidance of $44 to $46 million. Revenue excluding pass-through material is expected to range from $20 to $22 million for the fiscal 2005 third quarter as compared to guidance previously given of $24 to $26 million.
Healthcare Technologies Ltd. (NASDAQ: HCTL) 72% HIGHER; Revenues for the first quarter ended March 31, 2006 were $3.6 million, as compared to $3.1 million for the corresponding quarter last year, an increase of 16%. The net profit for the quarter was $352 thousand compared with a net profit of $163 thousand, for the first quarter of last year.
ADE Corp. (NASDAQ: ADEX) 23.8% HIGHER; KLA-Tencor Corporation (Nasdaq: KLAC) and ADE Corporation amended and restated their existing merger agreement to change the consideration that ADE stockholders will receive from KLA-Tencor common stock to $32.50 per share in cash.
Kinder Morgan Inc. (NYSE: KMI) 21.6% HIGHER; Richard D. Kinder, the Chairman and CEO of Kinder Morgan, Inc. announced that he, together with other members of management, co-founder Bill Morgan, current board members Fayez Sarofim and Mike Morgan, and investment partners Goldman Sachs Capital Partners, American International Group, Inc., The Carlyle Group and Riverstone Holdings LLC, has submitted a proposal to acquire all of the outstanding common stock of Kinder Morgan, Inc. at a price of $100 per share in cash.
CollaGenex Pharmaceuticals Inc. (NASDAQ: CGPI) 14.6% HIGHER; Receives FDA Approval for Oracea
Covad Communications (AMEX: DVW) 12% LOWER; 2006 net revenues are expected to be in the range of $475 - $485 million. 2006 net Loss is expected to be in the range of $39.5 - $29.5 million
Vical Inc. (NASDAQ: VICL) 11.8% HIGHER; Vical Incorporated (Nasdaq: VICL) and AnGes MG, Inc. announced a collaborative agreement for Vical's Allovectin-7 cancer immunotherapeutic. Under the agreement, AnGes will provide up to $100 million in ongoing clinical trial funding and future sales-based milestones as Allovectin-7 is successfully commercialized.
IDT Corp. (NYSE: IDT) 9% HIGHER; Positive Barron's write-up
Tribune Co. (NYSE: TRB) 7.6% HIGHER; to Repurchase up to 75 Million Common Shares
Level 3 Communications Inc. (NASDAQ: LVLT) 6.2% LOWER; offering an aggregate of 125 million shares of its common stock. The company also is offering $150 million aggregate principal amount of Convertible Senior Notes due 2012 in an underwritten offering.
CA, Inc. (NYSE: CA) 4.8% LOWER; to delay Q4 results. Reports preliminarily Q4 sales of $947 million and non-GAAP EPS of $0.14. Announces restatement of Q3 results.
Sirius Satellite Radio (Nasdaq: SIRI); Lehman Brothers upgrades from Equal Weight to Overweight
Kinder Morgan Energy Partners LP (NYSE: KMP) 4.3% HIGHER; KMI 'going private' offer
General Motors (NYSE: GM) 2.7% LOWER; Deutsche Bank downgrades from Hold to Sell.
JetBlue Airways Corp. (NASDAQ: JBLU) 2.6% HIGHER; Merrill Lynch upgrades JetBlue Airways from Sell to Neutral
Sun Microsystems Inc. (NASDAQ: SUNW) 1.6% HIGHER; UBS upgrades Sun Microsystems from Neutral to Buy with a $5.90 price target.
Dell Inc. (NASDAQ: DELL) 1% HIGHER; Michael Dell bought 2.92 million shares of the PC maker on 05/24 at $23.99. Shares of DELL are 1.6% higher in after-hours action on the news.
Marsh Supermarkets Inc. (NASDAQ: MARSA) INDICATED HIGHER; received an unsolicited letter, dated May 22, 2006, from Drawbridge Special Opportunities Advisors LLC and Cardinal Paragon, Inc. requesting that Marsh consent to Drawbridge/Cardinal making a proposal to acquire Marsh for $13.625 per share in cash, subject to completion of due diligence, and otherwise on substantially the same terms as the previously announced merger agreement with MSH Supermarkets Holding Corp., an affiliate of Sun Capital Partners.
Innovex Inc. (NASDAQ: INVX) INDICATED LOWER; said Q3 revenue is expected to range from $38 to $40 million, down from the Company's previous guidance of $44 to $46 million. Revenue excluding pass-through material is expected to range from $20 to $22 million for the fiscal 2005 third quarter as compared to guidance previously given of $24 to $26 million.
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