StreetInsider.com Pre-Open Movers 06/20
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StreetInsider.com Pre-Open Movers:
Nuveen Investments, Inc. (NYSE: JNC) 17% HIGHER; agreed to an all-cash buyout offer from an investor group majority-led by Madison Dearborn Partners, LLC. Nuveen Investments stockholders will receive $65.00 in cash.
Avalon Pharmaceuticals, Inc. (Nasdaq: AVRX) 11% HIGHER; continued positive interim results from its Phase I study of AVN944, for the treatment of hematologic malignancies in elderly and refractory patients.
Luna Innovations Incorporated (NASDAQ: LUNA) 11% HIGHER; The company and Virginia Commonwealth University (VCU) are the first to show that carbon nanospheres, sometimes referred to as "buckyballs," are able to block allergic response in human cell culture experiments and mice.
MGM MIRAGE (NYSE: MGM) 10.7% LOWER; Kerkorian\'s Tracinda Will Not Pursue Negotiations with MGM (MGM) on Purchase of Bellagio/CityCenter
LSI Industries Inc. (Nasdaq: LYTS) 10% HIGHER; is increasing its sales and earnings guidance for fiscal 2007. More specifically, for the fiscal year ending June 30, 2007, management expects diluted earnings per share to be between $0.90-0.92 per share vs. prior guidance of $0.86-0.88 vs. current consensus of $0.85.
FSI International, Inc. (Nasdaq: FSII) 10% LOWER; reports a Q3 loss of $0.19, 7 cents worse than estimates. Revenues were $25.2 million vs. $25.23 million consensus. The Company expects fourth quarter orders of $18 to $22 million as compared to $18.7 million in the third quarter of fiscal 2007 vs. consensus of $28.38 million. Backlog and deferred revenue was $20.1 million at the end of the third quarter of fiscal 2007, as compared to $48.5 million at the end of the third quarter last year. Orders for the third quarter of fiscal 2007 were $18.7 million, compared to $43.7 million in the third quarter of fiscal 2006.
Littelfuse, Inc. (NASDAQ: LFUS) 9% LOWER; revised guidance for the second quarter and full year of 2007. Sales for the second quarter, which previously were expected to be up 2% to 5% sequentially, are now expected to be similar to the first quarter of 2007. First quarter 2007 sales were $131.8 million. (Consensus is $138.34 million). Diluted earnings per share for the second quarter, which previously were expected to be in the range of $0.48 to $0.52, are now expected to be approximately $0.40 excluding an estimated gain of $0.22 per diluted share on the sale of excess land in Ireland. Diluted earnings per share on a GAAP basis are expected to be approximately $0.62. (Consensus is $0.50).
Brush Engineered Materials Inc. (NYSE: BW) 8% LOWER; Said Q2 results are now expected to be below the low end of the previously announced range of $0.50 to $0.65 per share. (Consensus is $0.59). The company also said while it is premature to comment specifically on the second quarter, the current outlook is for the full-year earnings to be in the range of $2.00 to $2.55 per share, down $0.20 a share from the previously published range of $2.20 to $2.75 per share. (Consensus is $2.50).
The Home Depot (NYSE: HD) 5.75% HIGHER; Confirmed they sold the HD Supply supply to a private equity group for $10.3 billion. The board of directors also authorized a $22.5 billion increase in its share repurchase program.
Darden Restaurants, Inc. (NYSE: DRI) 3.9% LOWER; reports Q4 EPS of $0.67, 3 cents worse than estimates. Revenues were $1.46 billion vs. $1.56 billion consensus.
Force Protection Inc. (Nasdaq: FRPT) 3% HIGHER; received a $221 million contract award to produce 455 vehicles for the U.S. Marine Corps\' Mine Resistant Ambush Protected (MRAP) vehicle program.
Circuit City Stores Inc. (NYSE: CC) 2.3% LOWER; reports Q1 loss of $0.33, versus the consensus of a $0.32 loss. Revenues came in at $2.485 billion versus the consensus of $2.44 billion. Company is withdrawing financial guidance for 08. Sees continued volatility in near term.
Morgan Stanley (NYSE: MS) 1.9% HIGHER; reports Q2 EPS from cont ops of $2.45, above the consensus of $2.01. Revenues came in at $11.5 billion versus the consensus of $10.03 billion.
Nuveen Investments, Inc. (NYSE: JNC) 17% HIGHER; agreed to an all-cash buyout offer from an investor group majority-led by Madison Dearborn Partners, LLC. Nuveen Investments stockholders will receive $65.00 in cash.
Avalon Pharmaceuticals, Inc. (Nasdaq: AVRX) 11% HIGHER; continued positive interim results from its Phase I study of AVN944, for the treatment of hematologic malignancies in elderly and refractory patients.
Luna Innovations Incorporated (NASDAQ: LUNA) 11% HIGHER; The company and Virginia Commonwealth University (VCU) are the first to show that carbon nanospheres, sometimes referred to as "buckyballs," are able to block allergic response in human cell culture experiments and mice.
MGM MIRAGE (NYSE: MGM) 10.7% LOWER; Kerkorian\'s Tracinda Will Not Pursue Negotiations with MGM (MGM) on Purchase of Bellagio/CityCenter
LSI Industries Inc. (Nasdaq: LYTS) 10% HIGHER; is increasing its sales and earnings guidance for fiscal 2007. More specifically, for the fiscal year ending June 30, 2007, management expects diluted earnings per share to be between $0.90-0.92 per share vs. prior guidance of $0.86-0.88 vs. current consensus of $0.85.
FSI International, Inc. (Nasdaq: FSII) 10% LOWER; reports a Q3 loss of $0.19, 7 cents worse than estimates. Revenues were $25.2 million vs. $25.23 million consensus. The Company expects fourth quarter orders of $18 to $22 million as compared to $18.7 million in the third quarter of fiscal 2007 vs. consensus of $28.38 million. Backlog and deferred revenue was $20.1 million at the end of the third quarter of fiscal 2007, as compared to $48.5 million at the end of the third quarter last year. Orders for the third quarter of fiscal 2007 were $18.7 million, compared to $43.7 million in the third quarter of fiscal 2006.
Littelfuse, Inc. (NASDAQ: LFUS) 9% LOWER; revised guidance for the second quarter and full year of 2007. Sales for the second quarter, which previously were expected to be up 2% to 5% sequentially, are now expected to be similar to the first quarter of 2007. First quarter 2007 sales were $131.8 million. (Consensus is $138.34 million). Diluted earnings per share for the second quarter, which previously were expected to be in the range of $0.48 to $0.52, are now expected to be approximately $0.40 excluding an estimated gain of $0.22 per diluted share on the sale of excess land in Ireland. Diluted earnings per share on a GAAP basis are expected to be approximately $0.62. (Consensus is $0.50).
Brush Engineered Materials Inc. (NYSE: BW) 8% LOWER; Said Q2 results are now expected to be below the low end of the previously announced range of $0.50 to $0.65 per share. (Consensus is $0.59). The company also said while it is premature to comment specifically on the second quarter, the current outlook is for the full-year earnings to be in the range of $2.00 to $2.55 per share, down $0.20 a share from the previously published range of $2.20 to $2.75 per share. (Consensus is $2.50).
The Home Depot (NYSE: HD) 5.75% HIGHER; Confirmed they sold the HD Supply supply to a private equity group for $10.3 billion. The board of directors also authorized a $22.5 billion increase in its share repurchase program.
Darden Restaurants, Inc. (NYSE: DRI) 3.9% LOWER; reports Q4 EPS of $0.67, 3 cents worse than estimates. Revenues were $1.46 billion vs. $1.56 billion consensus.
Force Protection Inc. (Nasdaq: FRPT) 3% HIGHER; received a $221 million contract award to produce 455 vehicles for the U.S. Marine Corps\' Mine Resistant Ambush Protected (MRAP) vehicle program.
Circuit City Stores Inc. (NYSE: CC) 2.3% LOWER; reports Q1 loss of $0.33, versus the consensus of a $0.32 loss. Revenues came in at $2.485 billion versus the consensus of $2.44 billion. Company is withdrawing financial guidance for 08. Sees continued volatility in near term.
Morgan Stanley (NYSE: MS) 1.9% HIGHER; reports Q2 EPS from cont ops of $2.45, above the consensus of $2.01. Revenues came in at $11.5 billion versus the consensus of $10.03 billion.
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