Pre-Open Stock Movers 1/9: (ICPT) (CRDC) (F) Higher; (YRCW) (FDO) (PIR) Lower (more...)

January 9, 2014 9:39 AM EST
Intercept Pharmaceuticals, Inc. (Nasdaq: ICPT) 217% HIGHER; announced the FLINT trial of obeticholic acid (OCA) for the treatment of nonalcoholic steatohepatitis (NASH) has been stopped early for efficacy based on a planned interim analysis showing that the primary endpoint of the trial has been met.

Cardica, Inc. (NASDAQ: CRDC) 49% HIGHER; obtained 510(k) clearance of the MicroCutter XCHANGE™ 30 device and blue staple cartridge for medium thickness tissue from the U.S. Food and Drug Administration for use in multiple open or minimally-invasive surgical procedures for the transection, resection and/or creation of anastomoses in small and large intestine, as well as the transection of the appendix. The XCHANGE 30 is the smallest diameter cutting and stapling device available today, with articulation up to 80 degrees and single-handed operation.

Sangamo BioSciences, Inc. (Nasdaq: SGMO) 14.2% HIGHER; The company and Biogen Idec announced an exclusive worldwide collaboration and license agreement focused on the development of therapeutics for hemoglobinopathies, inherited conditions that result from the abnormal structure or underproduction of hemoglobin. The agreement will enable Biogen Idec to further enhance its expertise in non-malignant hematology by leveraging Sangamo's proprietary genome-editing technology platform to develop treatments targeting sickle cell disease (SCD) and beta-thalassemia.

Material Sciences Corp. (Nasdaq: MASC) 13.2% HIGHER; entered into a definitive merger agreement with Zink Acquisition Holdings Inc. (Parent) and Zink Acquisition Merger Sub Inc. (Merger Sub), which are affiliates of New Star Metals Inc. and Insight Equity Holdings LLC, a private equity firm headquartered in Southlake, Texas. Pursuant to the merger agreement, Parent will acquire all of the outstanding shares of common stock of MSC for $12.75 per share in cash, representing a fully diluted equity value of approximately $139 million. The $12.75 per share price represents a premium of approximately 13.6% over the closing price of $11.22 on January 8, 2014 and 27.6% over the volume-weighted average share price during the 90-day period prior January 8, 2014.

YRC Worldwide (Nasdaq: YRCW) 13.1% LOWER; the Teamsters begin counting ballots for a contract extension. The Teamsters expect voting to be done by the end of the day today. Below is a post from the Teamsters website:

Frontline Ltd. (NYSE: FRO) 12% HIGHER; sees continued momentum

Pier 1 Imports, Inc. (NYSE: PIR) 10.2% LOWER; adjusted comps down 5.7% in December. Sees Q4 earnings per share in the range of $0.47 to $0.52, compared to prior guidance of $0.60 to $0.66. (The Street sees Q4 EPS of $0.63.)

Calix Networks (NYSE: CALX) 8.6% LOWER; Preliminary estimates for the fourth quarter are for revenue to be in the range of $93.5 to $94.5 million and non-GAAP earnings per share of 2 to 4 cents per share. On October 29, 2013, the company provided guidance for the fourth quarter ending December 31, 2013 for revenue between $97 and $103 million and non-GAAP earnings to range between per share of 3 to 8 cents per share. The revised estimates for the fourth quarter reflect a greater than anticipated decline in traditional year-end "budget flush" customer spending patterns than the company historically has experienced. The company reported $91.4 million and non-GAAP earnings $0.06 in the fourth quarter of 2012. *** The Street sees Q4 revs of $100.5 million and EPS of $0.07.

Bed Bath & Beyond, Inc. (NASDAQ: BBBY) 8.2% LOWER; reported Q3 EPS of $1.12, $0.03 worse than the analyst estimate of $1.15. Revenue for the quarter came in at $2.87 billion versus the consensus estimate of $2.89 billion. Comparable store sales in the fiscal third quarter of 2013 increased by approximately 1.3%, compared with an increase of approximately 1.7% in last year's fiscal third quarter. Bed Bath & Beyond, Inc. sees Q4 2014 EPS of $1.60-$1.67, versus prior guidance of $1.7-$1.77 and the consensus of $1.78. Bed Bath & Beyond, Inc. sees FY2014 EPS of $4.79-$4.86, versus prior guidance of $4.88-$5.01 and the consensus of $5.01

Sequenom, Inc. (Nasdaq: SQNM) 7.7% HIGHER; announced that on January 1, 2014, the European Patent Office (EPO) issued patent EP2183693 B1, entitled "Diagnosing Fetal Chromosomal Aneuploidy Using Genomic Sequencing," invented by Drs. Dennis Lo, Rossa Chiu, and Kwan Chee Chan of The Chinese University of Hong Kong. The patent claims novel methods for detecting fetal aneuploidy using sequencing and was the first patent filing made in the EPO directed to such novel methods. Sequenom holds exclusive rights to the patent, an important part of Sequenom's prenatal diagnostic patent portfolio, with coverage across all countries in the European Union, and also including Liechtenstein, Monaco, Norway and Switzerland.

Mistras Group (NYSE: MG) 7% HIGHER; reported Q2 EPS of $0.32, $0.03 better than the analyst estimate of $0.29. Revenue for the quarter came in at $156.8 million versus the consensus estimate of $154.99 million. Mistras Group sees FY2014 revenue of $590-615 million, versus prior guidance of $570-600 million and the consensus of $591.7 million.

Rexahn Pharmaceuticals Inc. (NYSE: RNN) 7% HIGHER; Roth Capital initiated coverage with a Buy. PT $3.00.

Axcelis Technologies (NASDAQ: ACLS) 6.4% HIGHER; Needham & Company initiates coverage with a Buy. PT $3.50.

Family Dollar Stores, Inc. (NYSE: FDO) 6.7% LOWER; reported Q1 EPS of $0.68, $0.01 worse than the analyst estimate of $0.69. Revenue for the quarter came in at $2.5 million versus the consensus estimate of $2.51 million. Family Dollar Stores, Inc. sees FY2014 EPS of $3.25-$3.55, versus the consensus of $3.98. Family Dollar Stores, Inc. sees Q2 2014 EPS of $0.85-$0.95, versus the consensus of $1.21.

Zumiez Inc. (NASDAQ: ZUMZ) 6.4% LOWER; Based primarily on lower than planned sales quarter-to-date, and to a lesser extent lower than planned merchandise margins, the Company is revising guidance and now expects fiscal 2013 fourth quarter sales in the range of $226 to $229 million and net income per diluted share of approximately $0.56 to $0.59, a decrease from the previously issued guidance of sales in the range of $230 to $237 million and net income per diluted share of approximately $0.60 to $0.66.

XOMA, Ltd. (NASDAQ: XOMA) 5.6% HIGHER; Jefferies initiates coverage with a Buy. PT $11.00.

ARM Holdings (NASDAQ: ARMH) 5.3% LOWER; Deutsche Bank downgraded from Buy to Hold. Analyst Johannes Schaller said he was waiting for a better entry point.

Alcatel-Lucent (NYSE: ALU) 5.3% LOWER; Deutsche Bank downgraded from to Hold with a price target of $3.30 (from $3.00). Analyst Kai Korschelt thinks margin momentum could slow.

Macys, Inc. (NYSE: M) 5% HIGHER; cutting 2,500 jobs related to organizational changes. Also said is sees FY 2014 EPS of $4.40-$4.50 versus the consensus of $4.36.

Global Payments, Inc. (NYSE: GPN) 4.8% HIGHER; reported Q2 EPS of $1.07, $0.05 better than the analyst estimate of $1.02. Revenue for the quarter came in at $634.1 million versus the consensus estimate of $624.49 million. Global Payments, Inc. sees FY2014 EPS of $4.03-$4.10, versus the consensus of $4.04. The company maintains its expectations for annual revenue of $2.51 billion to $2.56 billion, or 6% to 8% growth over fiscal 2013.

SolarCity (NASDAQ: SCTY) 4.3% HIGHER; Baird analyst Ben Kallo raised his price target on price from $71 to $81 calling the stock his favorite pick for 2014.

Ford Motor Co. (NYSE: F) 3% HIGHER; declared a quarterly dividend of $0.125 per share, or $0.5 annualized. This is a 25% increase from the prior dividend of $0.10.

Quidel Corp (NASDAQ: QDEL) 2.8% LOWER; expects revenues in the fourth quarter of 2013 to be approximately $50 million. *** The Street sees Q4 revs of $48.5 million.

Dana Holding (NYSE: DAN) 2.4% LOWER; Goldman Sachs upgraded from Neutral to Buy with a price target of $25.00 (from $22.00).

Blackstone Mortgage Trust (NYSE: BXMT) 2.4% LOWER; announced it has commenced an underwritten public offering of 8,500,000 shares of its class A common stock. The underwriters have been granted a 30-day option by the Company to purchase up to an additional 1,275,000 shares.

eHealth, Inc. (NASDAQ: EHTH) 2.3% HIGHER; announced preliminary financial results for the fourth quarter and fiscal year ended December 31, 2013. Revenue for the fiscal year 2013 is expected to be in the range of $178 million to $180 million, above the company's guidance of $168 million to $174 million. EBITDA* for the year is expected to be in the range of $16.0 million to $18.0 million, below the company's guidance of $23 million to $29 million. Non-GAAP net income per diluted share* for the fiscal year 2013 is expected to be in the range of $0.34 to $0.41, compared to guidance of $0.61 to $0.71 per diluted share. Revenue for the fourth quarter of 2013 is expected to be in the range of $53 million to $55 million. EBITDA* for the fourth quarter of 2013 is expected to be in the range of $1.0 million to $3.0 million. Fourth quarter 2013 non-GAAP net income (loss) per diluted share* is expected to be in the range of $(0.03) to $0.04. (Street sees Q4 EPS of $0.21 on revenue of $49.19 million. EPS may not compare.)

Ruby Tuesday, Inc. (NYSE: RT) 2% HIGHER; reported Q2 EPS of ($0.43), $0.17 worse than the analyst estimate of ($0.26). Revenue for the quarter came in at $276.2 million versus the consensus estimate of $271.93 million.

Yum! Brands (NYSE: YUM) 2% LOWER; Morgan Stanley downgraded from Overweight to Equalweight.

Actavis plc (NYSE: ACT) 1.3% HIGHER; received approval from the U.S. Food and Drug Administration (FDA) on its Abbreviated New Drug Application (ANDA) for Telmisartan Immediate-Release Tablets, 20 mg, 40 mg and 80 mg, a generic equivalent to Boehringer Ingelheim's Micardis®. Actavis intends to launch the product immediately.

Dollar General (NYSE: DG) 1% HIGHER; down on rival Family Dollar warning

Dollar Tree, Inc. (NASDAQ: DLTR) 1% HIGHER; down on rival Family Dollar warning

REX Energy (NASDAQ: REXX) 1% HIGHER; Northland Capital Markets initiated coverage with an Outperform. PT $25.00.

WD-40 Company (NASDAQ: WDFC) 1% LOWER; reported Q1 EPS of $0.74, $0.01 better than the analyst estimate of $0.73. Revenue for the quarter came in at $95.5 million versus the consensus estimate of $97.89 million. WD-40 Company sees FY2014 EPS of $2.65-$2.80, versus the consensus of $2.75. WD-40 Company sees FY2014 revenue of $383-398 million, versus the consensus of $385.9 million.

Finisar Corporation (NASDAQ: FNSR) 0.4% HIGHER; announced plans to acquire 100% of the equity interests in u2t Photonics AG, located in Berlin, Germany for approximately $20 million in cash, subject to certain adjustments. Finisar will also assume net debt of approximately $7 million.


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