Pre-Market Stock Movers (January 15, 2008) (EDU, COIN, CWTR, DNDN, DNA, WSM, FRX, LCBM, NWY, STT, PVH, TMA)

247wallst — Tue, 15 Jan 2008 08:50:55 +0000

Below is a snapshot of the key pre-market news that we are focusing on for early pre-market trading this Tuesday:

Apple (AAPL) has its Macworld today.
CECO Environmental (CECE) announced 14 new orders received totaling ~ $7.3 million.
Charles & Colvard (CTHR) lowered guidance and announced a strategic review.
Citigroup (C) was trading up but then went negative in early trading: -$1.99 EPS vs -$1.00 estimate, huge charges of $18.1 Billion, 4,200 layoffs included, review divestitures, cut $0.54 dividend down to $0.32.
Coldwater Creek (CWTR) lowered guidance, again, again. Shares down 15% to new low.
Converted Organics (COIN) announced its has secured a Rhode Island site for second organic fertilizer facility; stock down 6% pre-market.
Dendreon (DNDN) received a European patent covering Provenge and its ACI platform technology; shares up 5% pre-market after solid gains yesterday.
First American Financial (FAF) sees revenues of $1.9 Billion as expected but sees charges and writedowns.
Forest Labs (FRX) $0.96 EPS vs $0.75 estimate; Revenues $998.2 million versus $946+ million estimate. Raised 2008 guidance.
Genentech (DNA) trading down 2% pre-market after beating earnings but missing estimates on its top 4 drugs; sees 2008 EPS $3.30-3.45 vs. $3.37 estimate.
Kellwood (KWD) $21.00 tender from Sun Capital affiliate Cardinal Integrated commences.
Kosan (KOSN) initiated Phase II trials of alvespimycin, their second-generation inhibitor in patients with HER2-positive metastatic breast cancer.
Lifecore Biomedical (LCBM) trading up 29% after it agreed to be acquired by Warburg Pincus for $17.00 per share in cash.
Merrill Lynch (MER) confirmed that it has agreed to issue $6.6 Billion in preferred stock.
New Oriental Education & Technology (EDU) $0.10 EPS vs. $0.08 estimate.
New York & Co. (NWY) lowered guidance.
OSI Systems (OSIS) received a follow-on order from EDO Corporation for roughly $5.8 million.
Phillips-Van Heusen (PVH) guidance for Q4 EPS at least $0.53, previous guidance was $0.51 to 0.53 and $0.53 First Call; also reaffirmed FY08 EPS of $3.55 to 3.65 vs. $3.55 estimate.
State Street (STT) issued earnings and is indicated down 1% to 3% on thin volume after noting it sees 2008 at lower end of target.
Thornburg Mortgage (TMA) raised roughly $212 million in equity and convertible preferred securities sales; stock down 1% pre-market.
William Sonoma (WSM) lowered guidance; stock down 14% pre-market.

Jon C. Ogg
January 15, 2008

Pre-Market Stock News (November 20, 2007)

247wallst — Tue, 20 Nov 2007 08:05:11 +0000

Biogen Idec (BIIB) announced an alliance with Neurimmune Therapeutics to develop treatments for Alzheimer’s Disease.
BJ’s Wholesale (BJ) $0.35 EPS vs $0.33 est.
Blue Coat Systems (BCSI) $0.30 EPS vs $0.24 est.; sees next quarter $0.31 to $0.35 EPS vs. $0.26 est.
DR Horton (DHI) trading up 4% after posting narrower than expected losses at -$0.16 EPS vs -$0.60 EPS; sales down 35%.
Freddie Mac (FRE) posted a $3.29 EPS loss; engaged Goldman Sachs and Lehman to advise on near term financial concerns for capital raising after discussing lower mortgage loan values in its portfolio; apparently considering dividend cut; shares down 6% or more.
Fannie Mae (FNM) trading down 6% with Freddie Mac.
H-P (HPQ) beat earnings and slightly raised guidance; announced an $8 Billion share buyback
JW Nordstom (JWN) beat earnings and raised guidance; stock traded up 10%.
McClatchy Co (MNI) reports that both consolidated advertising and total revenues in October 2007 decreased 9.9%.
New York & Co. (NWY) $0.09 EPS vs $0.07 est; sees next quarter $0.23 to $0.32 EPS vs. $0.30 est.
Retalix (RTLX) $0.23 EPS vs $0.18 est.
Shoe Carnival (SCVL) $0.33 EPS vs $0.32 est.
Van Der Moolen (VDM) announced resignation of COO.
Zale (ZLC) -$0.54 EPS vs -$0.60 est.; sees next quarter $1.87-1.92 EPS vs. $1.80 est.; sees 2008 under plan.

24/7 Wall St. » NWY

Pre-Market Stock Movers (January 15, 2008) (EDU, COIN, CWTR, DNDN, DNA, WSM, FRX, LCBM, NWY, STT, PVH, TMA)

Pre-Market Stock News (November 20, 2007)