StreetInsider.com Pre-Open Movers 07/18
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Centene Corp. (NYSE: CNC) 28% LOWER; announced preliminary earnings per diluted share of $0.10-$0.12 for the second quarter of 2006, which includes an adjustment of approximately $9.7 million, or $0.14 per diluted share, for additional medical costs primarily related to March 2006 in Indiana and Texas. The current consensus is $0.29. Centene also announced today that it is revising its 2006 annual earnings guidance to $0.95-$1.04 per diluted share from its previous guidance of $1.53-$1.70 per diluted share, primarily due to these adverse medical cost trends. The current consensus is $1.63.
Sanmina-SCI Corp. (Nasdaq: SANM) 12% LOWER; expects its fiscal third quarter 2006 revenue to be $2.71 billion versus previously provided guidance of $2.7 to $2.8 billion, and said that the Company now expects non-GAAP earnings per share to be in the range of $0.06 to $0.07 versus previously provided guidance of $0.08 to $0.10 and prior quarter non-GAAP earnings per share of $0.06.
Enterra (NYSE: ENT) 11.5% LOWER; reduced its target payout ratio range to 60% to 70% of cash flow from operations from the previous 90% to 100%.
Action Semiconductor (Nasdaq: ACTS) 8.4% HIGHER; reports Q2 EPS of $0.21, 3 cents better than estimates.(0.18) Revenues were $39.3 million vs. $38.31 million consensus. ACTS sees Q3 EPS between $0.21-0.24 vs. $0.22 consensus. Sees Q3 revenues between $43-46 million vs. $45.6 million consensus.
Pharmaceutical Product Development Inc. (Nasdaq: PPDI) 8% HIGHER; reports Q2 EPS of $0.31 (including $0.028 charge for stock expense), 2 cents better than estimates.(0.29) Revenues were $309. million vs. $274.54 million consensus.
TD AMERITRADE (NASDAQ: AMTD) 6% HIGHER; reports Q3 EPS of $0.23, 1 cent better than estimates. Revenues were $540 million vs. $543.83 million consensus. The Company has increased its earnings projections for fiscal year 2007 to $0.99 to $1.21 per share and confirms its guidance for the fourth quarter of fiscal year 2006. Guidance for fiscal 2006 has been tightened to $0.94 to $1.00, or $0.87 to $0.93 excluding a one-time gain realized on the sale of the Company's investment in Knight Capital Group. Current consensus for FY07 is $1.20 and consensus for FY06 is $0.90.
Neurocrine Biosciences Inc. (Nasdaq: NBIX) 6% LOWER; reports a Q2 loss of $0.73, 1 cent worse than estimates.(-.72) Revenues were $9.2 million vs. $22.88 million consensus.
Innovex Inc. (Nasdaq: INVX) 5% LOWER; reports a Q3 loss of $0.16, 8 cents worse than estimates.(-.08) Revenues were $38.9 million vs. $39.98 million consensus.
Timken Co. (NYSE: TKR) 4.4% HIGHER; announced estimated 2006 second quarter earnings per diluted share of approximately $0.79, up from $0.73 per diluted share for the same period a year ago. Excluding the impact of special items, the company estimates 2006 second quarter earnings per diluted share of $0.89, up from the previous estimate of $0.75 to $0.80 per diluted share and above last year's second quarter earnings of $0.77 per diluted share. Current consensus is $0.79
Digi Int'l (Nasdaq: DGII) 4.4% LOWER; reports Q3 EPS of $0.14, in-line with estimates.(0.14) Revenues were $35.9 million vs. $36.37 million consensus. NOTE - Company reported $0.16 (excluding stock option expense). DGII sees FY06 EPS of $0.50-0.57 (ex-stock option expense) vs. $0.55 consensus.
Target (NYSE: TGT) 3% LOWER; sees July same-store sales in the +3-4% range. Target's previous guidance was an increase of 4-6% for July same-store sales.
The GEO Group, Inc. (NYSE: GGI) 2.8% HIGHER; increased its previously issued earnings guidance for the second quarter of 2006 by $0.12 per share to a pro forma range of $0.67 to $0.70 per share, versus the consensus of $0.56. The company increased its second quarter 2006 revenue guidance to a range of $205 million to $210 million, versus the consensus of $189.9 million. This adjustment in second quarter 2006 guidance increases GEO's previously issued earnings guidance for year-end 2006 to a pro forma range of $2.27 to $2.37 per share and revenue guidance for year-end 2006 to a range of $790 million to $805 million. The consensus is $2.16 and $779.6 million.
Western Digital Corp. (NYSE: WDC) 2.8% HIGHER; upgrades Western Digital to Hold
Palm, Inc. (Nasdaq: PALM) 2.8% HIGHER; Bear Stearns upgrades Palm (PALM) to Peer Perform
Freeport-McMoRan Copper & Gold Inc. (NYSE: FCX) 2.5% HIGHER; reports Q2 EPS of $1.74, 29 cents better than estimates. Revenues were $1.43 billion vs. $1.30 billion consensus.
Forest Laboratories Inc. (NYSE: FRX) 2.5% HIGHER; reports Q1 EPS of $0.62 vs. $0.52 consensus. Revenues were $816.34 million vs. $787.34 million consensus. The Company has increased its projected range for reported earnings per share for the fiscal year ending March 31, 2007 to $2.45-$2.50 from $2.37-$2.42. Current consensus is $2.42.
Rambus Inc. (Nasdaq: RMBS) 2.2% LOWER; WR Hambrecht downgrades Rambus (RMBS) to Hold
InterContinental Exchange, Inc. (NYSE: ICE) 2% LOWER; announced the pricing of its secondary offering of 8,000,000 shares of common stock at $56.00 per share.
State Street Corporation (NYSE: STT) 2% HIGHER; reports Q2 EPS of $0.93 (excluding items), 10 cents better than estimates. Revenues were $1.7 billion vs. $1.55 billion consensus.
Stanley Furniture Co. Inc. (Nasdaq: STLY) INDICATED LOWER; reports Q2 EPS of $0.32, 1 cent better than estimates.(0.31) Revenues were $77.5 million vs. $80.25 million consensus. STLY sees Q3 EPS between $0.38-0.41 vs. $0.42 consensus. Sees Q3 revenues between $81-83.5 million vs. $88.2 million consensus. STLY sees FY06 revenues between $323.5-331 million vs. $338.1 million consensus. Sees FY06 EPS between $1.52-1.61 vs. $1.61 consensus.
China TechFaith Wireless Communication Technology Limited (NASDAQ: CNTF) INDICATED LOWER; said it now expects revenue for the second quarter ended June 30 2006 will be approximately US$22.5 million, with net income of approximately US$4million. Prior guidance was revenue of US$24 million, with net income of approximately US$8.5 million.
Centene Corp. (NYSE: CNC) 28% LOWER; announced preliminary earnings per diluted share of $0.10-$0.12 for the second quarter of 2006, which includes an adjustment of approximately $9.7 million, or $0.14 per diluted share, for additional medical costs primarily related to March 2006 in Indiana and Texas. The current consensus is $0.29. Centene also announced today that it is revising its 2006 annual earnings guidance to $0.95-$1.04 per diluted share from its previous guidance of $1.53-$1.70 per diluted share, primarily due to these adverse medical cost trends. The current consensus is $1.63.
Sanmina-SCI Corp. (Nasdaq: SANM) 12% LOWER; expects its fiscal third quarter 2006 revenue to be $2.71 billion versus previously provided guidance of $2.7 to $2.8 billion, and said that the Company now expects non-GAAP earnings per share to be in the range of $0.06 to $0.07 versus previously provided guidance of $0.08 to $0.10 and prior quarter non-GAAP earnings per share of $0.06.
Enterra (NYSE: ENT) 11.5% LOWER; reduced its target payout ratio range to 60% to 70% of cash flow from operations from the previous 90% to 100%.
Action Semiconductor (Nasdaq: ACTS) 8.4% HIGHER; reports Q2 EPS of $0.21, 3 cents better than estimates.(0.18) Revenues were $39.3 million vs. $38.31 million consensus. ACTS sees Q3 EPS between $0.21-0.24 vs. $0.22 consensus. Sees Q3 revenues between $43-46 million vs. $45.6 million consensus.
Pharmaceutical Product Development Inc. (Nasdaq: PPDI) 8% HIGHER; reports Q2 EPS of $0.31 (including $0.028 charge for stock expense), 2 cents better than estimates.(0.29) Revenues were $309. million vs. $274.54 million consensus.
TD AMERITRADE (NASDAQ: AMTD) 6% HIGHER; reports Q3 EPS of $0.23, 1 cent better than estimates. Revenues were $540 million vs. $543.83 million consensus. The Company has increased its earnings projections for fiscal year 2007 to $0.99 to $1.21 per share and confirms its guidance for the fourth quarter of fiscal year 2006. Guidance for fiscal 2006 has been tightened to $0.94 to $1.00, or $0.87 to $0.93 excluding a one-time gain realized on the sale of the Company's investment in Knight Capital Group. Current consensus for FY07 is $1.20 and consensus for FY06 is $0.90.
Neurocrine Biosciences Inc. (Nasdaq: NBIX) 6% LOWER; reports a Q2 loss of $0.73, 1 cent worse than estimates.(-.72) Revenues were $9.2 million vs. $22.88 million consensus.
Innovex Inc. (Nasdaq: INVX) 5% LOWER; reports a Q3 loss of $0.16, 8 cents worse than estimates.(-.08) Revenues were $38.9 million vs. $39.98 million consensus.
Timken Co. (NYSE: TKR) 4.4% HIGHER; announced estimated 2006 second quarter earnings per diluted share of approximately $0.79, up from $0.73 per diluted share for the same period a year ago. Excluding the impact of special items, the company estimates 2006 second quarter earnings per diluted share of $0.89, up from the previous estimate of $0.75 to $0.80 per diluted share and above last year's second quarter earnings of $0.77 per diluted share. Current consensus is $0.79
Digi Int'l (Nasdaq: DGII) 4.4% LOWER; reports Q3 EPS of $0.14, in-line with estimates.(0.14) Revenues were $35.9 million vs. $36.37 million consensus. NOTE - Company reported $0.16 (excluding stock option expense). DGII sees FY06 EPS of $0.50-0.57 (ex-stock option expense) vs. $0.55 consensus.
Target (NYSE: TGT) 3% LOWER; sees July same-store sales in the +3-4% range. Target's previous guidance was an increase of 4-6% for July same-store sales.
The GEO Group, Inc. (NYSE: GGI) 2.8% HIGHER; increased its previously issued earnings guidance for the second quarter of 2006 by $0.12 per share to a pro forma range of $0.67 to $0.70 per share, versus the consensus of $0.56. The company increased its second quarter 2006 revenue guidance to a range of $205 million to $210 million, versus the consensus of $189.9 million. This adjustment in second quarter 2006 guidance increases GEO's previously issued earnings guidance for year-end 2006 to a pro forma range of $2.27 to $2.37 per share and revenue guidance for year-end 2006 to a range of $790 million to $805 million. The consensus is $2.16 and $779.6 million.
Western Digital Corp. (NYSE: WDC) 2.8% HIGHER; upgrades Western Digital to Hold
Palm, Inc. (Nasdaq: PALM) 2.8% HIGHER; Bear Stearns upgrades Palm (PALM) to Peer Perform
Freeport-McMoRan Copper & Gold Inc. (NYSE: FCX) 2.5% HIGHER; reports Q2 EPS of $1.74, 29 cents better than estimates. Revenues were $1.43 billion vs. $1.30 billion consensus.
Forest Laboratories Inc. (NYSE: FRX) 2.5% HIGHER; reports Q1 EPS of $0.62 vs. $0.52 consensus. Revenues were $816.34 million vs. $787.34 million consensus. The Company has increased its projected range for reported earnings per share for the fiscal year ending March 31, 2007 to $2.45-$2.50 from $2.37-$2.42. Current consensus is $2.42.
Rambus Inc. (Nasdaq: RMBS) 2.2% LOWER; WR Hambrecht downgrades Rambus (RMBS) to Hold
InterContinental Exchange, Inc. (NYSE: ICE) 2% LOWER; announced the pricing of its secondary offering of 8,000,000 shares of common stock at $56.00 per share.
State Street Corporation (NYSE: STT) 2% HIGHER; reports Q2 EPS of $0.93 (excluding items), 10 cents better than estimates. Revenues were $1.7 billion vs. $1.55 billion consensus.
Stanley Furniture Co. Inc. (Nasdaq: STLY) INDICATED LOWER; reports Q2 EPS of $0.32, 1 cent better than estimates.(0.31) Revenues were $77.5 million vs. $80.25 million consensus. STLY sees Q3 EPS between $0.38-0.41 vs. $0.42 consensus. Sees Q3 revenues between $81-83.5 million vs. $88.2 million consensus. STLY sees FY06 revenues between $323.5-331 million vs. $338.1 million consensus. Sees FY06 EPS between $1.52-1.61 vs. $1.61 consensus.
China TechFaith Wireless Communication Technology Limited (NASDAQ: CNTF) INDICATED LOWER; said it now expects revenue for the second quarter ended June 30 2006 will be approximately US$22.5 million, with net income of approximately US$4million. Prior guidance was revenue of US$24 million, with net income of approximately US$8.5 million.
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