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Morning Movers 7/21: JDAS, PKG, INCY, LAB, LXRX, CGEN Higher; RF, LXK, IDIX, ZION, FWRD Lower

July 21, 2009 9:26 AM EDT
JDA Software (Nasdaq: JDAS) 24.2% HIGHER; reports Q2 EPS of $0.47, 17 cents better than the analyst estimate of $0.30. Revenue for the quarter was $99.5 million, versus the consensus of $86.2 million.

Packaging Corporation of America (NYSE: PKG) 17.3% HIGHER; reports Q2 EPS of $0.28, ex-items, 12 cents better than the analyst estimate of $0.16. Revenue for the quarter was $549.4 million, versus the consensus of $535.21 million. Sees Q3 EPS of about $0.24, which compares to the Street estimate of $0.12. Also upgraded to Buy at Deutsche Bank.

Incyte Corporation (Nasdaq: INCY) 15.3% HIGHER; announced today that it has reached agreement with the U.S. FDA regarding a Special Protocol Assessment on the design of a pivotal Phase III trial for its lead JAK1/JAK2 Inhibitor, INCB18424, in patients with primary myelofibrosis, post-polycythemia vera myelofibrosis or post-essential thrombocythemia myelofibrosis. The SPA provides agreement that the study design and planned analysis of the Phase III trial adequately address objectives in support of a regulatory submission.

LaBranche & Co Inc. (NYSE: LAB) 14.2% HIGHER; reports Q2 adj-loss of $0.09, versus the analyst estimate of a gain of $0.08. Revenue for the quarter was $64.68 million, versus the consensus of $45.19 million. Adds $25 million to its buyback program, making the total authorization $65.0 million.

Lexicon Pharmaceuticals, Inc. (Nasdaq: LXRX) 13.6% HIGHER; has received orphan drug designation from the Committee for Orphan Medical Products of the European Medicines Agency for LX1032, the company's oral drug candidate for managing gastrointestinal symptoms associated with carcinoid syndrome. Click here for the full report.

Compugen Ltd. (NASDAQ: CGEN) 13.5% HIGHER; announced that CGEN-25017, a novel peptide antagonist of the Angiopoietin/Tie-2 pathway, has shown positive therapeutic effects in an animal model of retinopathy, a very serious eye condition characterized by over-growth of blood vessels. CGEN-25017, which was initially discovered using Compugen's Disease-Associated Conformation Blockers discovery platform, had previously demonstrated significant inhibitory activity in two other models of angiogenesis, an in vitro multi-cellular assay and the widely recognized chorioallantoic membrane model.

IncrediMail Ltd. (NASDAQ: MAIL) 13.5% HIGHER; sees FY09 sales exceeding $26 million and operating income exceeding $9 million. Click here for the full report.

Caterpillar Inc. (NYSE: CAT) 12.4% HIGHER; reports Q2 EPS of $0.72, down from $1.14 last year but well above the consensus of $0.22. Sales fell 41% to $7.98 billion, versus the consensus of $8.86 billion. Caterpillar sees 2009 sales of $32-$36 billion, versus the consensus of $34.9 billion. Sees 2009 EPS of $1.15-$2.25 versus the consensus of $1.02.

Regions Financial Corporation (NYSE: RF) 11.4% LOWER; reports Q2 loss of $0.28, 6 cents worse than the analyst estimate of ($0.22).

Lexmark International, Inc. (NYSE: LXK) 11.4% LOWER; reports Q2 EPS of $0.55, 5 cents lower than the analyst estimate of $0.60. Revenue for the quarter was $905 million, versus the consensus of $915.75 million.

Autoliv Inc. (NYSE: ALV) 10.1% HIGHER; reports Q2 loss of $0.24, versus the analyst estimate of ($0.42). Revenue for the quarter was $1.19 billion, versus the consensus of $1.16 billion. Sees Q3 net sales down 20-25% with organic sales down 15-20%. Sees a positive operating margin in the range of 1-3%, ex-restructuring charge.

Idenix Pharmaceuticals, Inc. (Nasdaq: IDIX) 9.8% LOWER; reports Q2 loss of $0.28, 3 cents below than the analyst estimate of ($0.25). Revenue for the quarter was $2.45 million, versus the consensus of $3.39 million.

Health Net, Inc. (NYSE: HNT) 7.9% HIGHER; UnitedHealthcare (NYSE: UNH) last night announced that it has agreed to acquire Health Net of the Northeast's licensed subsidiaries and will work with Health Net to renew the customers currently enrolled in those plans with UnitedHealthcare as those customers reach their annual renewal dates. The deal is being valued at $290 million.

Zions Bancorp (Nasdaq: ZION) 6.7% LOWER; reports Q2 loss of $0.35, versus the analyst estimate of ($1.02).

International Paper (NYSE: IP) 6.6% HIGHER; upgraded to Buy at Deutsche Bank.

Forward Air (Nasdaq: FWRD) 6.5% LOWER; reports Q2 EPS of $0.10, 1 cent better than the analyst estimate of $0.09. Revenue for the quarter was $99.7 million, versus the consensus of $105.68 million. “Assuming no further material deterioration in the environment, for the third quarter of 2009, we anticipate a year-over-year decline in revenue in the range of 15 to 20% and expect income per diluted share to be between $0.08 and $0.14 per share.” (Q3 EPS consensus is $0.17)

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