Streetinsider.com Pre-Open Movers 07/15: (LEAP) (BWEN) (POWI) Higher; (ALVR) (XONE) (OCZ) Lower (more...)
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Leap Wireless (NASDAQ: LEAP) 117.3% HIGHER; AT&T Inc. (NYSE: T) announced a deal Friday evening to acquire Leap Wireless International Inc. for $15 per share in cash. The deal comes at a sharp premium to Friday's NASDAQ close of $7.98.
Alvarion Ltd. (Nasdaq: ALVR) 42% LOWER; announced that the District Court of Tel-Aviv – Yaffo has decided to appoint Mr. Yoav Kfir as the company's Receiver.
Broadwind Energy, Inc. (Nasdaq: BWEN) 10.9% HIGHER; announced $87 million in tower orders from a U.S. wind turbine manufacturer. Broadwind will produce these towers in its Manitowoc, Wisc. and Abilene, Tex. facilities, with delivery scheduled primarily in 2014. Since the start of 2013, Broadwind has recorded $200 million in new tower orders. Additionally, a $34 million order which was placed in late 2010 has been canceled by mutual agreement with a longstanding customer, due to a reduction in their U.S. requirements.
Power Integrations, Inc. (NASDAQ: POWI) 7.9% HIGHER; now expects to report second-quarter revenues of between $87 million and $88 million, as compared to the previously projected range of $79 million to $85 million. The company reported revenues of $77.0 million in the first quarter of 2013. The Wall Street consensus is $82.47 million. Non-GAAP gross margin for the quarter is now expected to be between 53 percent and 53.5 percent, compared with the prior projection of 52-53 percent.
bluebird bio, Inc. (NASDAQ: BLUE) 6.6% HIGHER; new Buy ratings
NII Holdings Inc. (NASDAQ: NIHD) 6.1% HIGHER; up on Leap Wireless takeover.
The ExOne Company (NASDAQ: XONE) 5.5% LOWER; BB&T Capital downgraded The ExOne Company from Buy to Hold.
Coronado Biosciences, Inc. (Nasdaq: CNDO) 4.7% LOWER; filed a registration with the U.S. SEC to sell, from time to time, up to $200 million of Common Stock, Preferred Stock, Warrants, Units, or any combination thereof.
OCZ Technology Group, Inc. (Nasdaq: OCZ) 4.6% LOWER; announces selected preliminary financial results for the first quarter ended May 31, 2013, subject to customary closing and audit procedures. Preliminary revenue for the first quarter of fiscal 2014 is estimated to be between $50 and $55 million. The sequential decrease in revenue was primarily due to the continued tight supply of NAND flash. The Company's revenue mix continued to shift towards the mainstream and higher-end client markets, as well as enterprise and OEM solutions as the Company continued to focus on these end markets. At the end of the quarter there was an additional $23 million of shippable backlog that was unrealized in the quarter due to supply constraints. The Street sees revs of $74.2 million and a loss of $0.41 per share.
Mercadolibre, Inc. (NASDAQ: MELI) 2.5% LOWER; negative Barron's article
QLogic (NASDAQ: QLGC) 2.5% LOWER; Morgan Stanley downgraded from Equalweight to Underweight with a price target of $9.00.
Tesla Motors, Inc. (NASDAQ: TSLA) 2.5% HIGHER; Northland Securities analyst Colin Rusch boosted his price target on Tesla from $95 to $230 Monday and maintained an Outperform rating
JB Hunt Transport Services, Inc. (NASDAQ: JBHT) 2.4% LOWER; reported Q2 EPS of $0.73, $0.01 worse than the analyst estimate of $0.74. Revenue for the quarter came in at $1.38 billion versus the consensus estimate of $1.4 billion.
Citigroup, Inc. (NYSE: C) 2.4% HIGHER; reported Q2 EPS of $1.25 excluding CVA/DVA, $0.07 better than the analyst estimate of $1.18. Revenue for the quarter came in at $20.5 billion versus the consensus estimate of $19.67 billion. Revs were $20 billion flat excluding CVA/DVA.
Michael Kors (NYSE: KORS) 2.2% LOWER;
Piper Jaffray downgraded from Overweight to Neutral.
NetApp (NASDAQ: NTAP) 1.8% HIGHER; Morgan Stanley upgraded from Equalweight to Overweight with a price target of $46.00.
Aruba Networks, Inc. (NASDAQ: ARUN) 1.6% HIGHER; announced that its Board of Directors has authorized the repurchase of up to an additional $100 million of its outstanding common stock under its existing share repurchase program. The company recently completed its repurchase of the initial $100 million of common stock under the program, which was originally authorized in June 2012
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