StreetInsider.com Pre-Open Movers 11/05
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StreetInsider.com Pre-Open Movers:
Novacea, Inc. (Nasdaq: NOVC) 60% LOWER; ended its Phase 3 ASCENT-2 clinical trial of Asentar, the company's lead investigational cancer therapy for the treatment of patients with androgen-independent prostate cancer, or AIPC, due to an imbalance of deaths between the two treatment arms.
WellCare Health Plans, Inc. (NYSE: WCG) 43% HIGHER; Earnings and Jefferies upgrades to Buy
Alfa Corporation (NASDAQ: ALFA) 21% HIGHER; Alfa Corporation and Alfa Mutual Insurance Company and Alfa Mutual Fire Insurance Company announced that they have entered into a definitive merger agreement pursuant to which the Alfa Mutual Group, which owns a majority of Alfa Corp.’s common stock, will acquire all of the outstanding shares of Alfa Corp.’s common stock that it does not currently own for $22.00 per share.
American Financial Realty Trust (NYSE: AFR) 20% HIGHER; Gramercy Capital Corp. (NYSE: GKK) and American Financial Realty Trust entered into a definitive merger agreement for Gramercy to acquire American Financial for approximately $3.4 billion, including the assumption of American Financial’s outstanding indebtedness.
Marvel Entertainment, Inc. (NYSE: MVL) 16% HIGHER; reports Q3 EPS of $0.45, above the consensus of $0.28. Revenues came in at $123.6 million, versus the consensus of $90.52 million. Marvel sees FY07 EPS of $1.60-$1.65, versus prior guidance of $1.30-$1.55 and the consensus of $1.44. Marvel sees FY08 EPS of $1.30-$1.50, versus the consensus of $1.25.
iRobot Corp. (Nasdaq: IRBT) 14% HIGHER; Granted Injunction in Trade Secrets Lawsuit
PetroChina Co. Ltd. (NYSE: PTR) 9% LOWER; China stocks lower after 5% Hang Seng sell-off on reports the program to allow mainland citizens to buy Hong Kong stocks directly will be delayed.
China Mobile Limited (NYSE: CHL) 8% LOWER; China stocks lower after 5% Hang Seng sell-off on reports the program to allow mainland citizens to buy Hong Kong stocks directly will be delayed.
Cardinal Health (NYSE: CAH) 6% LOWER; reported Q1 EPS of $0.86, in-line with the analyst consensus of $0.86. Revenues for the quarter were $22 billion, versus the consensus of $22.51 billion. The Company reaffirmed its prior FY08 guidance of $3.95 to $4.15, versus the consensus of $4.07.
Citigroup (NYSE: C) 3.7% LOWER; Chuck Prince out as Chairman/CEO. Announces additional $8-$11 billion in subprime losses.
IAC (Nasdaq: IACI) INDICTED HIGHER; announced that its Board of Directors has approved a plan to separate IAC into five publicly traded companies. The five companies will be IAC, HSN, Ticketmaster, Interval International and LendingTree
Mentor Graphics (NASDAQ: MENT) INDICATED LOWER; said third quarter results will be below guidance issued on August 23, 2007. Mentor Graphics said revenue for the quarter is expected to be approximately $185 million versus guidance of $200 million and non-GAAP earnings are expected to be slightly below break-even as compared to a previously estimated $.10 per share.
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Novacea, Inc. (Nasdaq: NOVC) 60% LOWER; ended its Phase 3 ASCENT-2 clinical trial of Asentar, the company's lead investigational cancer therapy for the treatment of patients with androgen-independent prostate cancer, or AIPC, due to an imbalance of deaths between the two treatment arms.
WellCare Health Plans, Inc. (NYSE: WCG) 43% HIGHER; Earnings and Jefferies upgrades to Buy
Alfa Corporation (NASDAQ: ALFA) 21% HIGHER; Alfa Corporation and Alfa Mutual Insurance Company and Alfa Mutual Fire Insurance Company announced that they have entered into a definitive merger agreement pursuant to which the Alfa Mutual Group, which owns a majority of Alfa Corp.’s common stock, will acquire all of the outstanding shares of Alfa Corp.’s common stock that it does not currently own for $22.00 per share.
American Financial Realty Trust (NYSE: AFR) 20% HIGHER; Gramercy Capital Corp. (NYSE: GKK) and American Financial Realty Trust entered into a definitive merger agreement for Gramercy to acquire American Financial for approximately $3.4 billion, including the assumption of American Financial’s outstanding indebtedness.
Marvel Entertainment, Inc. (NYSE: MVL) 16% HIGHER; reports Q3 EPS of $0.45, above the consensus of $0.28. Revenues came in at $123.6 million, versus the consensus of $90.52 million. Marvel sees FY07 EPS of $1.60-$1.65, versus prior guidance of $1.30-$1.55 and the consensus of $1.44. Marvel sees FY08 EPS of $1.30-$1.50, versus the consensus of $1.25.
iRobot Corp. (Nasdaq: IRBT) 14% HIGHER; Granted Injunction in Trade Secrets Lawsuit
PetroChina Co. Ltd. (NYSE: PTR) 9% LOWER; China stocks lower after 5% Hang Seng sell-off on reports the program to allow mainland citizens to buy Hong Kong stocks directly will be delayed.
China Mobile Limited (NYSE: CHL) 8% LOWER; China stocks lower after 5% Hang Seng sell-off on reports the program to allow mainland citizens to buy Hong Kong stocks directly will be delayed.
Cardinal Health (NYSE: CAH) 6% LOWER; reported Q1 EPS of $0.86, in-line with the analyst consensus of $0.86. Revenues for the quarter were $22 billion, versus the consensus of $22.51 billion. The Company reaffirmed its prior FY08 guidance of $3.95 to $4.15, versus the consensus of $4.07.
Citigroup (NYSE: C) 3.7% LOWER; Chuck Prince out as Chairman/CEO. Announces additional $8-$11 billion in subprime losses.
IAC (Nasdaq: IACI) INDICTED HIGHER; announced that its Board of Directors has approved a plan to separate IAC into five publicly traded companies. The five companies will be IAC, HSN, Ticketmaster, Interval International and LendingTree
Mentor Graphics (NASDAQ: MENT) INDICATED LOWER; said third quarter results will be below guidance issued on August 23, 2007. Mentor Graphics said revenue for the quarter is expected to be approximately $185 million versus guidance of $200 million and non-GAAP earnings are expected to be slightly below break-even as compared to a previously estimated $.10 per share.
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