StreetInsider.com Pre-Open Movers 06/20
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StreetInsider.com Pre-Open Movers:
Qiao Xing Universal Telephone, Inc. (Nasdaq: XING) 24% HIGHER; reported 2005 net sales of US$ 356 million, increasing by 42.4% over that for 2004. XING saw income from operations increased by around 400% to US$ 45 million, compared with US$ 8 million for 2004. XING reported net income of US$ 31 million, compared with US$ 3 million for 2004, an increase of 987%.
Avanir Pharmaceuticals (Nasdaq: AVNR) 9.5% LOWER; said the FDA will extend the review period by 90 days for the Neurodex new drug application for Involuntary Emotional Expression Disorder. The new PDUFA date will be October 30, 2006.
Hoku Scientific, Inc. (NASDAQ: HOKU) 7.6% HIGHER; unit Hoku Fuel Cells successfully completed the installation and commenced the demonstration of the first two stationary fuel cell power plants under Hoku Scientific's contract with the U.S. Navy. The power plants will be demonstrated over a one-year period at a building occupied by the Energy and Business Services Division of U.S. Navy Region Hawaii at Pearl Harbor.
American Commercial Lines Inc. (Nasdaq: ACLI) 5.8% HIGHER; said overall, the demand and rate environment continue to be strong and they now expect second quarter results will approximate $41 - $44 million in EBITDA and $0.48 - $0.53 in EPS (cons $0.40). In addition, they now believe full year results for 2006 will approximate $170 - $180 million in EBITDA, up from prior guidance of $155 - $165 million in EBITDA and $2.00 - $2.20 in EPS, up from prior guidance of $1.70 - $1.90 per share (cons $1.92).
Human Genome Sciences Inc. (Nasdaq: HGSI) 4.9% HIGHER; the U.S. Government has exercised its option to purchase 20,000 treatment courses of ABthrax for the Strategic National Stockpile. HGS expects to receive approximately $165 million in revenues from this award, following delivery and licensure.
Trinity Industries, Inc. (NYSE: TRN) 4.6% HIGHER; increased its earnings guidance for the second quarter of 2006 to a range of $0.60 to $0.65 per diluted share. The previously reported guidance for the second quarter was $0.52 to $0.57. The Wall Street consensus is $0.57.
JetBlue Airways Corp. (Nasdaq: JBLU) 3.9% HIGHER; Morgan Stanley Starts at Overweight
Builders FirstSource, Inc. (Nasdaq: BLDR) 3.8% LOWER; Baird downgrades to Neutral
Kroger Co. (NYSE: KR) 3.4% HIGHER; reports Q1 EPS of $0.45 (excluding $0.03 charge), 3 cents better than estimates. Revenues were $19.4 billion vs. $18.94 billion consensus.
Commercial Metals Co. (NYSE: CMC) 2.5% HIGHER; reports Q3 EPS of $0.85 (excluding after-tax LIFO expense), 15 cents better than estimates. Revenues were $2.02 billion vs. $1.68 billion consensus.
MGM Mirage (NYSE: MGM) 1.7% LOWER; Morgan Stanley downgrade
Applied Materials Inc. (Nasdaq: AMAT) 1.3% HIGHER; Prudential upgrades to Overweight
Midland Co. (Nasdaq: MLAN) INDICATED LOWER; is anticipating second quarter 2006 net income in the range $6.8 million to $8.8 million, or 35 cents to 45 cents per share, assuming no capital gains or losses. The current Wall Street consensus is $0.75.
PRAECIS Pharmaceuticals (NASDAQ: PRCS) INDICATED LOWER; reported that it will not be able to enter into by June 30, 2006 a license or sale transaction with respect to its Plenaxis assets. The Company said it will cease its previously announced process to identify and consummate such a transaction. Accordingly, as previously disclosed, the Company will work with the United States Food and Drug Administration to discontinue the limited distribution of the product in the United States as soon as reasonably practicable and will not pursue further the commercialization of Plenaxis outside the United States.
Brooks Automation Inc. (Nasdaq: BRKS) INDICATED HIGHER; Prudential upgrades to Overweight
CFC International, Inc. (Nasdaq: CFCI) INDICATED HIGHER; entered into a definitive agreement to be acquired by an affiliate of Illinois Tool Works Inc. (NYSE: ITW) for $16.75 cash per share.
Qiao Xing Universal Telephone, Inc. (Nasdaq: XING) 24% HIGHER; reported 2005 net sales of US$ 356 million, increasing by 42.4% over that for 2004. XING saw income from operations increased by around 400% to US$ 45 million, compared with US$ 8 million for 2004. XING reported net income of US$ 31 million, compared with US$ 3 million for 2004, an increase of 987%.
Avanir Pharmaceuticals (Nasdaq: AVNR) 9.5% LOWER; said the FDA will extend the review period by 90 days for the Neurodex new drug application for Involuntary Emotional Expression Disorder. The new PDUFA date will be October 30, 2006.
Hoku Scientific, Inc. (NASDAQ: HOKU) 7.6% HIGHER; unit Hoku Fuel Cells successfully completed the installation and commenced the demonstration of the first two stationary fuel cell power plants under Hoku Scientific's contract with the U.S. Navy. The power plants will be demonstrated over a one-year period at a building occupied by the Energy and Business Services Division of U.S. Navy Region Hawaii at Pearl Harbor.
American Commercial Lines Inc. (Nasdaq: ACLI) 5.8% HIGHER; said overall, the demand and rate environment continue to be strong and they now expect second quarter results will approximate $41 - $44 million in EBITDA and $0.48 - $0.53 in EPS (cons $0.40). In addition, they now believe full year results for 2006 will approximate $170 - $180 million in EBITDA, up from prior guidance of $155 - $165 million in EBITDA and $2.00 - $2.20 in EPS, up from prior guidance of $1.70 - $1.90 per share (cons $1.92).
Human Genome Sciences Inc. (Nasdaq: HGSI) 4.9% HIGHER; the U.S. Government has exercised its option to purchase 20,000 treatment courses of ABthrax for the Strategic National Stockpile. HGS expects to receive approximately $165 million in revenues from this award, following delivery and licensure.
Trinity Industries, Inc. (NYSE: TRN) 4.6% HIGHER; increased its earnings guidance for the second quarter of 2006 to a range of $0.60 to $0.65 per diluted share. The previously reported guidance for the second quarter was $0.52 to $0.57. The Wall Street consensus is $0.57.
JetBlue Airways Corp. (Nasdaq: JBLU) 3.9% HIGHER; Morgan Stanley Starts at Overweight
Builders FirstSource, Inc. (Nasdaq: BLDR) 3.8% LOWER; Baird downgrades to Neutral
Kroger Co. (NYSE: KR) 3.4% HIGHER; reports Q1 EPS of $0.45 (excluding $0.03 charge), 3 cents better than estimates. Revenues were $19.4 billion vs. $18.94 billion consensus.
Commercial Metals Co. (NYSE: CMC) 2.5% HIGHER; reports Q3 EPS of $0.85 (excluding after-tax LIFO expense), 15 cents better than estimates. Revenues were $2.02 billion vs. $1.68 billion consensus.
MGM Mirage (NYSE: MGM) 1.7% LOWER; Morgan Stanley downgrade
Applied Materials Inc. (Nasdaq: AMAT) 1.3% HIGHER; Prudential upgrades to Overweight
Midland Co. (Nasdaq: MLAN) INDICATED LOWER; is anticipating second quarter 2006 net income in the range $6.8 million to $8.8 million, or 35 cents to 45 cents per share, assuming no capital gains or losses. The current Wall Street consensus is $0.75.
PRAECIS Pharmaceuticals (NASDAQ: PRCS) INDICATED LOWER; reported that it will not be able to enter into by June 30, 2006 a license or sale transaction with respect to its Plenaxis assets. The Company said it will cease its previously announced process to identify and consummate such a transaction. Accordingly, as previously disclosed, the Company will work with the United States Food and Drug Administration to discontinue the limited distribution of the product in the United States as soon as reasonably practicable and will not pursue further the commercialization of Plenaxis outside the United States.
Brooks Automation Inc. (Nasdaq: BRKS) INDICATED HIGHER; Prudential upgrades to Overweight
CFC International, Inc. (Nasdaq: CFCI) INDICATED HIGHER; entered into a definitive agreement to be acquired by an affiliate of Illinois Tool Works Inc. (NYSE: ITW) for $16.75 cash per share.
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