StreetInsider.com Pre-Open Movers 09/14
StreetInsider.com Pre-Open Movers:
Cambior Inc. (AMEX: CBJ) 25% HIGHER; IAMGOLD Corporation (NYSE: IAG) and Cambior Inc. agreed to a US$3 billion transaction to create a new million ounce plus gold producer. The new company will continue under the name IAMGOLD Corporation.
Witness Systems (Nasdaq: WITS) 11% HIGHER; Israeli daily reported says Nice Systems (NYSE: NICE) may be in talks to acquire Witness Systems for approximately $750 million. NICE says it doesn't comment on rumors or speculation.
Diodes Incorporated (Nasdaq: DIOD) 8.2% HIGHER; increased its guidance for the third quarter of 2006 from its previous sequential revenue guidance of 4-7%. The Company now expects third quarter revenue to be approximately 9-11% greater than its record second quarter 2006 revenue of $82.7 million, which grew 12.4% from the first quarter.
Stanley Furniture Co. Inc. (Nasdaq: STLY) 7.5% LOWER; said third quarter sales are now expected to be below previously anticipated levels due to continued weakness in retail furniture activity. The Company now anticipates a sales decline of 8% to 10%. Diluted earnings per share are now expected to be $.27 to $.29, down from prior guidance of $.38 to $.41 and the consensus of $0.40. For total year 2006, sales are now expected to decline 4% to 7% compared to 2005 and diluted earnings per share are now expected to be $1.24 to $1.32, versus the consensus of $1.57.
RF Industries Ltd. (Nasdaq: RFIL) 7% HIGHER; continued momentum following today�s 53% run-up on strong Q3 results.
Meridian Bioscience Inc. (Nasdaq: VIVO) 5% HIGHER; Meridian Bioscience Inc. (NASDAQ: VIVO) will replace MRO Software Inc. (NASDAQ: MROI) in the S&P SmallCap 600 after the close of trading on Monday, September 18. MRO Software is being acquired by S&P 100 and S&P 500 constituent International Business Machines Corp. (NYSE: IBM)
Level 3 Communications Inc. (Nasdaq: LVLT) 5% HIGHER; On Mad Money, Jim Cramer was positive on the stock related to recent YouTube deal.
XM Satellite Radio Holdings Inc. (Nasdaq: XMSR) 4.7% HIGHER; Credit Suisse upgrades XM Satellite Radio from Neutral to Outperform with a $17 price target
Napster Inc. (Nasdaq: NAPS) 4% HIGHER; Soleil Securities initiates coverage on Napster with a Buy rating and $7 price target
Hansen Natural Corp. (Nasdaq: HANS) 3.5% HIGHER; Goldman Sachs added Hansen Natural Corp. (Nasdaq: HANS) to its Conviction Buy List. Note: On Mad Money yesterday, Jim Cramer said the momentum in HANS is done.
Time Warner Telecom Inc. (Nasdaq: TWTC) 3.4% LOWER; announced that its principal stockholders commenced an underwritten public offering of 27,500,000 shares of its Class A common stock plus an option to purchase up to an additional 4,125,000 shares to cover over-allotments, if any.
Lattice Semiconductor Corp. (Nasdaq: LSCC) 2.8% LOWER; said third quarter revenue is expected to grow 1%-3% sequentially, compared to previous guidance of 0%-4%.
Boeing Co. (NYSE: BA) 1.4% LOWER; UBS downgrades Boeing (BA) to Reduce
Genentech Inc. (NYSE: DNA) 1.3% HIGHER; Stifel Nicolaus upgrades Genentech (DNA) to Buy
General Electric Co. (NYSE: GE) 1% LOWER; UBS downgrades General Electric (GE) to Neutral; Sells GE Advanced Materials Business to Apollo Management for $3.8B
Banta Corp. (NYSE: BN) INDICATED HIGHER; Announces $16/Share Special Dividend; Raises Guidance
Cambior Inc. (AMEX: CBJ) 25% HIGHER; IAMGOLD Corporation (NYSE: IAG) and Cambior Inc. agreed to a US$3 billion transaction to create a new million ounce plus gold producer. The new company will continue under the name IAMGOLD Corporation.
Witness Systems (Nasdaq: WITS) 11% HIGHER; Israeli daily reported says Nice Systems (NYSE: NICE) may be in talks to acquire Witness Systems for approximately $750 million. NICE says it doesn't comment on rumors or speculation.
Diodes Incorporated (Nasdaq: DIOD) 8.2% HIGHER; increased its guidance for the third quarter of 2006 from its previous sequential revenue guidance of 4-7%. The Company now expects third quarter revenue to be approximately 9-11% greater than its record second quarter 2006 revenue of $82.7 million, which grew 12.4% from the first quarter.
Stanley Furniture Co. Inc. (Nasdaq: STLY) 7.5% LOWER; said third quarter sales are now expected to be below previously anticipated levels due to continued weakness in retail furniture activity. The Company now anticipates a sales decline of 8% to 10%. Diluted earnings per share are now expected to be $.27 to $.29, down from prior guidance of $.38 to $.41 and the consensus of $0.40. For total year 2006, sales are now expected to decline 4% to 7% compared to 2005 and diluted earnings per share are now expected to be $1.24 to $1.32, versus the consensus of $1.57.
RF Industries Ltd. (Nasdaq: RFIL) 7% HIGHER; continued momentum following today�s 53% run-up on strong Q3 results.
Meridian Bioscience Inc. (Nasdaq: VIVO) 5% HIGHER; Meridian Bioscience Inc. (NASDAQ: VIVO) will replace MRO Software Inc. (NASDAQ: MROI) in the S&P SmallCap 600 after the close of trading on Monday, September 18. MRO Software is being acquired by S&P 100 and S&P 500 constituent International Business Machines Corp. (NYSE: IBM)
Level 3 Communications Inc. (Nasdaq: LVLT) 5% HIGHER; On Mad Money, Jim Cramer was positive on the stock related to recent YouTube deal.
XM Satellite Radio Holdings Inc. (Nasdaq: XMSR) 4.7% HIGHER; Credit Suisse upgrades XM Satellite Radio from Neutral to Outperform with a $17 price target
Napster Inc. (Nasdaq: NAPS) 4% HIGHER; Soleil Securities initiates coverage on Napster with a Buy rating and $7 price target
Hansen Natural Corp. (Nasdaq: HANS) 3.5% HIGHER; Goldman Sachs added Hansen Natural Corp. (Nasdaq: HANS) to its Conviction Buy List. Note: On Mad Money yesterday, Jim Cramer said the momentum in HANS is done.
Time Warner Telecom Inc. (Nasdaq: TWTC) 3.4% LOWER; announced that its principal stockholders commenced an underwritten public offering of 27,500,000 shares of its Class A common stock plus an option to purchase up to an additional 4,125,000 shares to cover over-allotments, if any.
Lattice Semiconductor Corp. (Nasdaq: LSCC) 2.8% LOWER; said third quarter revenue is expected to grow 1%-3% sequentially, compared to previous guidance of 0%-4%.
Boeing Co. (NYSE: BA) 1.4% LOWER; UBS downgrades Boeing (BA) to Reduce
Genentech Inc. (NYSE: DNA) 1.3% HIGHER; Stifel Nicolaus upgrades Genentech (DNA) to Buy
General Electric Co. (NYSE: GE) 1% LOWER; UBS downgrades General Electric (GE) to Neutral; Sells GE Advanced Materials Business to Apollo Management for $3.8B
Banta Corp. (NYSE: BN) INDICATED HIGHER; Announces $16/Share Special Dividend; Raises Guidance
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