StreetInsider.com Pre-Open Movers 12/13
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StreetInsider.com Pre-Open Movers:
Progen Industries Ltd. (Nasdaq: PGLA) 40% HGHER; announced positive preliminary results from its Phase II clinical trial of PI-88 for the treatment of patients with primary liver cancer following surgical resection of the tumour. The trial demonstrated that PI-88 increased time to tumour recurrence by 76%.
Midwest Air Group, Inc. (Amex: MEH) 23.9% HIGHER; AirTran Holdings, the parent of AirTran Airways, made a proposal to acquire all of the outstanding common stock of Midwest Air Group, Inc. for $11.25 per Midwest share in cash and AirTran stock or a total equity value of approximately $290 million.
Lumera Corp. (Nasdaq: LMRA) 19% HIGHER; announced today encouraging results for its multi-band millimeter wave wireless bridge.
EXACT Sciences Corporation (NASDAQ: EXAS) 19% HIGHER; Mount Sinai School of Medicine and EXACT Sciences announced today the publication of results from a prospective, multi-center study of stool DNA testing. The study found that the test demonstrated an 88% sensitivity for colorectal cancer, and with equal detection across all stages of cancer, regardless of the cancer's location in the colon. The study was published online in the American Gastroenterological Association's journal, Clinical Gastroenterology and Hepatology, and will appear in the January 2007 print issue.
TIBCO Software Inc. (Nasdaq: TIBX) 13.3% HIGHER; announced that fourth quarter fiscal 2006 financial results will exceed management's guidance.
Cooper Companies (NYSE: COO) 10% LOWER; reports Q1 EPS of $0.67, 12 cents worse than estimates.(0.79) Revenues were $216 million vs. $234.39 million consensus. Revenue guidance for 2007 has been reduced from the previous estimate of a range of $948 million to $1.0 billion to a range of $920 million to $960 million. Non-GAAP EPS has been reduced from $3.35 to $4.00, excluding estimated share-based compensation expense of 30 cents to 35 cents per share, to $2.90 to $3.05.
Apria Healthcare Group Inc. (NYSE: AHG) 8% LOWER; Citigroup and Oppenheimer downgrade to Sell
POZEN Inc. (NASDAQ: POZN) 7% LOWER; said the FDA has completed its initial review of POZEN's response to the June 8, 2006 Approvable Letter for Trexima and has determined the response is not yet complete. The FDA has requested additional analyses and supporting information relating to the data submitted in the November response.
Atmel Corp. (NASDAQ: ATML) 7% HIGHER; Announces Strategic Restructuring Initiatives to Accelerate Profitable Growth and Reduce Costs
Mamma.com Inc. (Nasdaq: MAMA) 7% HIGHER; continues today's 80% run-up following the launch of its video search service.
UAL Corp. (Nasdaq: UAUA) 7% HIGHER; reports UAL Corp, the parent of United Airlines, and Continental have held exploratory merger talks.
Martek Biosciences (Nasdaq: MATK) 6% HIGHER; reports Q4 EPS of $0.12, 2 cents better than estimates. Revenues came in at $67.2 million versus the consensus of $65.2 million. Sees Q1 revenues of $66-$69 million versus the consensus of $69.2 million. Sees Q1 EPS of $0.12-$0.15 versus the consensus of $0.12.
Continental Airlines, Inc. (NYSE: CAL) 5.5% HIGHER; reports UAL Corp, the parent of United Airlines, and Continental have held exploratory merger talks.
ADC Telecommunications (Nasdaq: ADCT) 5% HIGHER; reports Q4 EPS of $0.38 vs. consensus of $0.18 (May not be comparable) Revenues were $307 million vs. $302.95 million consensus. Expects its fiscal 2007 sales to be in the range of $1.260-$1.290 billion. Current FY07 revenue consensus is $1.34 billion. EPS from continuing operations in fiscal 2007 is estimated to be in the range of $0.53 to $0.63 (including charges of $0.27). Current consensus is $1.01.
AirTran Holdings, Inc. (NYSE: AAI) 4% HIGHER; made a proposal to acquire all of the outstanding common stock of Midwest Air Group, Inc. for $11.25 per Midwest share in cash and AirTran stock or a total equity value of approximately $290 million.
DirecTV Group Inc. (NYSE: DTV) 1.7% LOWER; Credit Suisse downgrades to Sell
Buckle, Inc. (NYSE: BKE) 1% HIGHER authorized a $3.00 per share special one-time cash dividend, approved a 3-for-2 stock split, authorized a 20 cents per share dividend.
Progen Industries Ltd. (Nasdaq: PGLA) 40% HGHER; announced positive preliminary results from its Phase II clinical trial of PI-88 for the treatment of patients with primary liver cancer following surgical resection of the tumour. The trial demonstrated that PI-88 increased time to tumour recurrence by 76%.
Midwest Air Group, Inc. (Amex: MEH) 23.9% HIGHER; AirTran Holdings, the parent of AirTran Airways, made a proposal to acquire all of the outstanding common stock of Midwest Air Group, Inc. for $11.25 per Midwest share in cash and AirTran stock or a total equity value of approximately $290 million.
Lumera Corp. (Nasdaq: LMRA) 19% HIGHER; announced today encouraging results for its multi-band millimeter wave wireless bridge.
EXACT Sciences Corporation (NASDAQ: EXAS) 19% HIGHER; Mount Sinai School of Medicine and EXACT Sciences announced today the publication of results from a prospective, multi-center study of stool DNA testing. The study found that the test demonstrated an 88% sensitivity for colorectal cancer, and with equal detection across all stages of cancer, regardless of the cancer's location in the colon. The study was published online in the American Gastroenterological Association's journal, Clinical Gastroenterology and Hepatology, and will appear in the January 2007 print issue.
TIBCO Software Inc. (Nasdaq: TIBX) 13.3% HIGHER; announced that fourth quarter fiscal 2006 financial results will exceed management's guidance.
Cooper Companies (NYSE: COO) 10% LOWER; reports Q1 EPS of $0.67, 12 cents worse than estimates.(0.79) Revenues were $216 million vs. $234.39 million consensus. Revenue guidance for 2007 has been reduced from the previous estimate of a range of $948 million to $1.0 billion to a range of $920 million to $960 million. Non-GAAP EPS has been reduced from $3.35 to $4.00, excluding estimated share-based compensation expense of 30 cents to 35 cents per share, to $2.90 to $3.05.
Apria Healthcare Group Inc. (NYSE: AHG) 8% LOWER; Citigroup and Oppenheimer downgrade to Sell
POZEN Inc. (NASDAQ: POZN) 7% LOWER; said the FDA has completed its initial review of POZEN's response to the June 8, 2006 Approvable Letter for Trexima and has determined the response is not yet complete. The FDA has requested additional analyses and supporting information relating to the data submitted in the November response.
Atmel Corp. (NASDAQ: ATML) 7% HIGHER; Announces Strategic Restructuring Initiatives to Accelerate Profitable Growth and Reduce Costs
Mamma.com Inc. (Nasdaq: MAMA) 7% HIGHER; continues today's 80% run-up following the launch of its video search service.
UAL Corp. (Nasdaq: UAUA) 7% HIGHER; reports UAL Corp, the parent of United Airlines, and Continental have held exploratory merger talks.
Martek Biosciences (Nasdaq: MATK) 6% HIGHER; reports Q4 EPS of $0.12, 2 cents better than estimates. Revenues came in at $67.2 million versus the consensus of $65.2 million. Sees Q1 revenues of $66-$69 million versus the consensus of $69.2 million. Sees Q1 EPS of $0.12-$0.15 versus the consensus of $0.12.
Continental Airlines, Inc. (NYSE: CAL) 5.5% HIGHER; reports UAL Corp, the parent of United Airlines, and Continental have held exploratory merger talks.
ADC Telecommunications (Nasdaq: ADCT) 5% HIGHER; reports Q4 EPS of $0.38 vs. consensus of $0.18 (May not be comparable) Revenues were $307 million vs. $302.95 million consensus. Expects its fiscal 2007 sales to be in the range of $1.260-$1.290 billion. Current FY07 revenue consensus is $1.34 billion. EPS from continuing operations in fiscal 2007 is estimated to be in the range of $0.53 to $0.63 (including charges of $0.27). Current consensus is $1.01.
AirTran Holdings, Inc. (NYSE: AAI) 4% HIGHER; made a proposal to acquire all of the outstanding common stock of Midwest Air Group, Inc. for $11.25 per Midwest share in cash and AirTran stock or a total equity value of approximately $290 million.
DirecTV Group Inc. (NYSE: DTV) 1.7% LOWER; Credit Suisse downgrades to Sell
Buckle, Inc. (NYSE: BKE) 1% HIGHER authorized a $3.00 per share special one-time cash dividend, approved a 3-for-2 stock split, authorized a 20 cents per share dividend.
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