Pre-Open Movers: Performance Food Group (PFGC) Up On Buyout, Under Armour (UA) Killed On Marketing/EPS Shift

January 18, 2008 9:32 AM EST
StreetInsider.com Pre-Open Movers:

Performance Food Group Company (NASDAQ: PFGC) 35% HIGHER; signed a definitive merger agreement to be acquired by an affiliate of The Blackstone Group (NYSE: BX) and Wellspring Capital Management in a transaction valued at approximately $1.3 billion. Under the terms of the merger agreement, Performance Food Group shareholders will receive $34.50 in cash for each outstanding share of Company common stock they hold representing a premium a 42.6% over yesterday's closing share price of $24.19.

Under Armour (NYSE: UA) 16% LOWER; the company will shift its marketing spend to the first-half of '08 and therefore only report EPS of $0.03-$0.05 for the first-half.

BIOFUEL ENERGY CORP. (Nasdaq: BIOF) 12% LOWER; announced that start-up of its first two ethanol plants had been delayed by roughly 90 days.

LaBranche & Co. Inc. (NYSE: LAB) 12% HIGHER; reports Q4 EPS of $0.04, ex-items, versus the consensus of a $0.02 loss. Revenues came in at $118.5 million, versus the consensus of $111.1 million.

Wind River Systems Inc. (Nasdaq: WIND) 8% HIGHER; Jim Cramer highlights on Mad Money

Ambac Financial Group, Inc. (NYSE: ABK) 8% HIGHER; Ambac will not raise equity in current market

International Business Machines (NYSE: IBM) 5% HIGHER; reported Q4 EPS of $2.80, 12 cents better than the analysts estimates of $2.68. Revenues for the quarter were $28.9 billion, versus the consensus of $28.24 billion. Notably, the Company raised its EPS guidance just a couple days ago, Jan. 14, to $2.80.

Seagate Technology (NYSE: STX) 4.7% LOWER; reported Q2 EPS of $0.76, 1 cent better than the analysts estimates of $0.75. Revenues for the quarter were $3.4 billion, versus the consensus of $3.49 billion. Sees Q3 revenues in the range of $3.2 to $3.3 billion, versus the consensus of $3.3 billion. EPS are expected to be $0.62-$0.66, versus the consensus of $0.62.

Xilinx, Inc. (Nasdaq: XLNX) 4.7% HIGHER; reported Q3 EPS of $0.35, 3 cents better than the analysts estimates of $0.32. Revenues for the quarter were $474.8 million, versus the consensus of $463.60 million. Sees Q4 revenues up 3% to down 1%, sequentially.

Alliance Data Systems Corporation (NYSE: ADS) 4.6% HIGHER; Commenting on rumors that sent the stock down 6% today the firm said, "No discussions with regard to a renegotiation of the previously announced transaction are taking place between Blackstone and the special committee of Alliance Data's board of directors formed in connection with the transactions contemplated by the merger agreement." The Company and Blackstone are continuing to work together to close the deal as quickly as possible.

Priceline.com Inc. (Nasdaq: PCLN) 3% HIGHER; Citi upgrades to Buy

GFI Group Inc. (Nasdaq: GFIG) 3% HIGHER; Goldman upgrades to Buy

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