Streetinsider.com Pre-Open Movers 07/16: (SHFL) (SOL) (POWI) Higher; (LQDT) (JOEZ) (HSII) Lower (more...)
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Joe's Jean, Inc. (NASDAQ: JOEZ) 22.6% LOWER; reported Q2 EPS of $0.02, $0.01 worse than the analyst estimate of $0.03. Revenue for the quarter came in at $30.9 million versus the consensus estimate of $32.47 million. Same stores sales, which are stores open the full 12 months and e-shop, were a negative 6% on a comparative basis.
SHFL entertainment (NASDAQ: SHFL) 21.7% HIGHER; Bally Technologies, Inc. (NYSE: BYI) entered into a definitive agreement to acquire SHFL entertainment, Inc. at a per share price of $23.25 in cash for total consideration of approximately $1.3 billion. This consideration represents a premium of 24 percent to the closing price of SHFL common stock on July 15, 2013.
ReneSola Ltd (NYSE: SOL) 19.4% HIGHER; raised its Q2 outlook.
Heidrick & Struggles, Inc. (Nasdaq: HSII) 15.4% LOWER; announced that L. Kevin Kelly has stepped down as Chief Executive Officer and resigned from the Company's Board of Directors. Jory Marino, Regional Leader, Americas, will serve as Interim CEO while a search committee of the Board considers both internal and external candidates for the CEO position. Kelly, an accomplished search professional, will return full-time to Heidrick's executive search practice in a senior client service role.
Liquidity Services, Inc. (Nasdaq: LQDT) 13.2% LOWER; announced certain preliminary financial results for its third quarter fiscal year 2013 ended June 30, 2013. Liquidity Services expects to report Gross Merchandise Volume (GMV) of $228 million to $231 million, which is lower than the Companys previous expectations of $250 million to $275 million. Adjusted EBITDA, which excludes stock based compensation and acquisition costs, is expected to be $26 million to $27 million compared to the Companys previous expectations of $29 million to $32 million. The Company also expects adjusted diluted earnings per share of $0.43 to $0.45 compared to previous expectations of $0.49 to $0.54. *** The Street sees Q3 revs of $128.99 million and EPS of $0.51.
NQ Mobile Inc. (NYSE: NQ) 8.2% HIGHER; provides its preliminary second quarter 2013 revenue guidance. The company now estimates that its overall revenues for the second quarter 2013 will exceed $40 million. The company will provide final second quarter 2013 results during its regularly scheduled earnings conference in mid-August. (Street sees Q2 revenue of $38.61 million).
Baidu, Inc. (Nasdaq: BIDU) 6.1% HIGHER; signed a Memorandum of Understanding on the Proposed Acquisition of all equity interests in 91 Wireless Websoft Limited from NetDragon.
Spectrum Pharmaceuticals (NASDAQ: SPPI) 5.4% HIGHER; JMP Securities upgraded from Market Perform to Market Outperform with a price target of $13.00.
OraSure Technologies (NASDAQ: OSUR) 5.2% HIGHER; Cowen upgraded from Market Perform to Outperform with a price target of $6.60 (from $4.80).
Insmed Incorporated (NASDAQ: INSM) 4.8% LOWER; announced today that it is offering $60 million of its common stock in a proposed underwritten public offering. All of the shares in the offering will be sold by Insmed.
Cintas Corp (NASDAQ: CTAS) 4.7% LOWER; reported Q4 EPS of $0.69, $0.01 worse than the analyst estimate of $0.70. Revenue for the quarter came in at $1.13 billion versus the consensus estimate of $1.13 billion. Cintas Corp sees FY2014 EPS of $2.66-2.75, versus the consensus of $2.79. Cintas Corp sees FY2014 revenue of $4.5-4.6 billion, versus the consensus of $4.54 billion.
Marathon Petroleum (NYSE: MPC) 3.6% LOWER; announced that the company expects to report earnings in the range of $570 million to $600 million, or $1.75 to $1.85 per diluted share, for the second quarter of 2013, compared with earnings of $814 million, or $2.38 per diluted share, for the second quarter of 2012. Included in the second-quarter 2013 estimate are after-tax charges of approximately $39 million, or $0.12 per share, related to pension settlement expenses compared with approximately $53 million, or $0.15 per share, in the second quarter of 2012. *** The Street sees EPS of $2.64.
Berry Plastics Group, Inc. (NYSE: BERY) 3.6% LOWER; announced today the commencement of a proposed secondary public offering of 15,000,000 shares of the Company’s common stock by certain funds affiliated with Apollo Global Management, LLC and certain funds affiliated with Graham Partners, Inc.. Also sees June quarter revenues below the Street.
AmREIT, Inc. (NYSE: AMRE) 2.7% LOWER; announced that it plans to sell 3,000,000 shares of its common stock in an underwritten public offering. The Company also plans to grant the underwriters a 30-day option to purchase up to 450,000 additional shares of common stock to cover overallotments, if any. Jefferies is serving as sole book-running manager for the offering. Baird will be serving as lead manager.
DaVita (NYSE: DVA) 2.2% LOWER; downgraded to Sell at Goldman
Ford Motor Co. (NYSE: F) 1.8% LOWER; removed from CL Buy at Goldman
Healthcare Realty Trust (NYSE: HR) 1.2% LOWER; announced that it has commenced an underwritten public offering of 3,000,000 shares of its common stock.
WhiteWave Foods (NYSE: WWAV) 1.2% LOWER; anticipates reporting second quarter 2013 adjusted diluted earnings per share of $0.16, a 28 percent increase compared to second quarter 2012. Net sales for the second quarter of 2013 are anticipated to be $616 million, a 10 percent increase from adjusted net sales of $558 million in the second quarter of 2012, driven primarily by volume growth across both the Companys North America and Europe segments. *** The Street is looking for EPS of $0.16 and revs of $608.2 million
GM (NYSE: GM) 0.9% HIGHER; Goldman adds to CL Buy List
Brown & Brown, Inc. (NYSE: BRO) 0.6% HIGHER; reported Q2 EPS of $0.00, $0.35 worse than the analyst estimate of $0.35. Revenue for the quarter came in at $325.8 million versus the consensus estimate of $318.7 million.
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