StreetInsider.com Unusual 11 Mid-Day Movers 03/21/2007
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U.S. Auto Parts Network, Inc. (Nasdaq: PRTS) 44.5% LOWER; Net sales for the fourth quarter ended December 31, 2006 were $36.8 million, 134% from $15.7 million in the prior year period. Net loss was $(0.02) million, or $(0.00) per diluted share compared to net income of $2.1 million, or $0.16 per diluted share.
Velocity Express (NASDAQ: VEXP) 25% HIGHER; Recently signed a multi-year contract renewal, representing more than $13 million in revenue per annum, with one of the world's largest financial institutions. As part of the agreement, Velocity Express will continue to manage the primary transportation needs for this customer in key business regions across the country, including markets in the south, northeast and west coast states.
ICF International (Nasdaq: ICFI) 20.5% HIGHER; Reports Q4 EPS of $0.65 vs. consensus of $0.30. Fourth quarter 2006 revenue of $113.9 million was up 5.7% sequentially from the $107.8 million reported for the 2006 third quarter. In the 2005 fourth quarter, ICF generated revenue of $51.8 million. Based on currently available information, the Company expects to report revenues for the quarter ending March 31, 2007, in the range of $125 million to $135 million and for the full year 2007 in the range of $480 million to $520 million. For both the quarter and the year, the Company seeks to earn net income equal to approximately 5% of revenues. (No consensus available)
Telestone Technologies Corporation (NASDAQ: TSTC) 18.9% HIGHER; Reported revenue for Q4 increased 35.2% to $7.4 million compared to $ 5.5 million in the prior year period. Net income increased 12.2% to $1.6 million, $.19 per share (diluted) compared to $1.4 million, $.17 per share ( diluted) in the prior year period.
FSI Int'l (Nasdaq: FSII) 15.2% LOWER; Reports a Q2 loss of $0.02 (ex-items), 2 cents worse than estimates.(0.00) Revenues were $33.3 million vs. $33.76 million consensus. Given the quarter-to-date orders, the Company expects third quarter orders to increase to $24 to $27 million as compared to $19.2 million in the second quarter of fiscal 2007. (Consensus is $36.44 million)
Fremont General Corporation (NYSE: FMT) 13.7% HIGHER; Company entered into whole loan sale agreements to sell approximately $4 billion of its sub-prime residential real estate loans. The Company has received approximately $950 million in cash from the first sale installment under the agreements with the remaining sales under the agreements expected to be completed over the next several weeks. The Company will sell the loans at a discount, reflecting current conditions in the sub-prime mortgage market. The Company estimates that the sale of the approximately $4 billion of its sub-prime residential loans will result in a pre-tax loss of approximately $140 million.
GSI Commerce (NASDAQ: GSIC) 10.5% HIGHER; Goldman Sachs raised from Neutral to a Buy with 25% upside to new $24.00 target (this was Jim Cramer's e-commerce stealth play too).
Technical Olympic USA Inc. (NYSE: TOA) 8.6% HIGHER; Stock rebounding today after falling almost 25% yesterday and losing about 50% market cap since Feb. 21, 2007.
Fortress Investment Group LLC (NYSE: FIG) 6% HIGHER; A number of firms initiated coverage on FIG today. Banc of America initiates coverage at Buy; Lehman Brothers starts at Overweight; Goldman Sachs starts at Buy; Citigroup starts at Hold. Also, Fortress declared increase in Q1 dividend.
ProQuest Company (NYSE: PQE) 5.5% LOWER; Company has been advised by the New York Stock Exchange (NYSE) that the NYSE expects to suspend trading in the Company's shares prior to the opening of trading on March 28, 2007. The Company's common stock is expected to be quoted on the Pink Sheets.
Morgan Stanley (NYSE: MS) 4.2% HIGHER; Reports Q1 EPS of $2.40, versus the consensus of $1.88. Revenues came in at $11 billion versus the consensus of $9.42 billion.
Velocity Express (NASDAQ: VEXP) 25% HIGHER; Recently signed a multi-year contract renewal, representing more than $13 million in revenue per annum, with one of the world's largest financial institutions. As part of the agreement, Velocity Express will continue to manage the primary transportation needs for this customer in key business regions across the country, including markets in the south, northeast and west coast states.
ICF International (Nasdaq: ICFI) 20.5% HIGHER; Reports Q4 EPS of $0.65 vs. consensus of $0.30. Fourth quarter 2006 revenue of $113.9 million was up 5.7% sequentially from the $107.8 million reported for the 2006 third quarter. In the 2005 fourth quarter, ICF generated revenue of $51.8 million. Based on currently available information, the Company expects to report revenues for the quarter ending March 31, 2007, in the range of $125 million to $135 million and for the full year 2007 in the range of $480 million to $520 million. For both the quarter and the year, the Company seeks to earn net income equal to approximately 5% of revenues. (No consensus available)
Telestone Technologies Corporation (NASDAQ: TSTC) 18.9% HIGHER; Reported revenue for Q4 increased 35.2% to $7.4 million compared to $ 5.5 million in the prior year period. Net income increased 12.2% to $1.6 million, $.19 per share (diluted) compared to $1.4 million, $.17 per share ( diluted) in the prior year period.
FSI Int'l (Nasdaq: FSII) 15.2% LOWER; Reports a Q2 loss of $0.02 (ex-items), 2 cents worse than estimates.(0.00) Revenues were $33.3 million vs. $33.76 million consensus. Given the quarter-to-date orders, the Company expects third quarter orders to increase to $24 to $27 million as compared to $19.2 million in the second quarter of fiscal 2007. (Consensus is $36.44 million)
Fremont General Corporation (NYSE: FMT) 13.7% HIGHER; Company entered into whole loan sale agreements to sell approximately $4 billion of its sub-prime residential real estate loans. The Company has received approximately $950 million in cash from the first sale installment under the agreements with the remaining sales under the agreements expected to be completed over the next several weeks. The Company will sell the loans at a discount, reflecting current conditions in the sub-prime mortgage market. The Company estimates that the sale of the approximately $4 billion of its sub-prime residential loans will result in a pre-tax loss of approximately $140 million.
GSI Commerce (NASDAQ: GSIC) 10.5% HIGHER; Goldman Sachs raised from Neutral to a Buy with 25% upside to new $24.00 target (this was Jim Cramer's e-commerce stealth play too).
Technical Olympic USA Inc. (NYSE: TOA) 8.6% HIGHER; Stock rebounding today after falling almost 25% yesterday and losing about 50% market cap since Feb. 21, 2007.
Fortress Investment Group LLC (NYSE: FIG) 6% HIGHER; A number of firms initiated coverage on FIG today. Banc of America initiates coverage at Buy; Lehman Brothers starts at Overweight; Goldman Sachs starts at Buy; Citigroup starts at Hold. Also, Fortress declared increase in Q1 dividend.
ProQuest Company (NYSE: PQE) 5.5% LOWER; Company has been advised by the New York Stock Exchange (NYSE) that the NYSE expects to suspend trading in the Company's shares prior to the opening of trading on March 28, 2007. The Company's common stock is expected to be quoted on the Pink Sheets.
Morgan Stanley (NYSE: MS) 4.2% HIGHER; Reports Q1 EPS of $2.40, versus the consensus of $1.88. Revenues came in at $11 billion versus the consensus of $9.42 billion.
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