Largest $ Movers of Note – StreetInsider.com – 03/16/2007
UPWARD MOVERS:Imperial Tobacco Group plc (NYSE: ITY) +$5.45; Stock jumps for second straight session. Yesterday, the company announced a $15.2 billion bid to acquire rival Altadis. The Manitowoc Company (NYSE: MTW) +$4.38; Company expects to exceed its current estimate for…
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.
UPWARD MOVERS:
Imperial Tobacco Group plc (NYSE: ITY) +$5.45; Stock jumps for second straight session. Yesterday, the company announced a $15.2 billion bid to acquire rival Altadis.
The Manitowoc Company (NYSE: MTW) +$4.38; Company expects to exceed its current estimate for fiscal 2007 earnings per share. The company is raising its most recent earnings per share guidance of $3.85 to $4.00 to a new range of $4.20 to $4.30. (Consensus is $4.02). In addition, the company anticipates that reported earnings per share for the first quarter of 2007 will exceed the average of published Wall Street estimates by approximately 10%.
OMI Corp. (NYSE: OMM) +$3.12; Board of Directors has decided to evaluate a range of strategic alternatives to further enhance shareholder value. Company has retained Perella Weinberg Partners and Fearnley Fonds ASA as financial advisors.
AnnTaylor (NYSE: ANN) +$3.07; Reports Q4 earnings of $0.31 per share, 2 cents better than estimates. Revenues came in at $610.5 million versus the consensus of $610.8 million. Sees FY08 EPS of $2.15-$2.25 versus the consensus of $2.15 million.
Accredited Home Lenders (Nasdaq: LEND) +$2.49; Company reached an agreement to sell substantially all of its loans held for sale that are currently funded out of its warehouse and repurchase credit facilities, asset-backed commercial paper facility, and its equity. The $2.7 billion of loans held for sale will be sold at a substantial discount in order to alleviate recent pressures from margin calls.
DOWNWARD MOVERS:
Google Inc. (Nasdaq: GOOG) -$4.45; Stock moving lower with no specific news releases.
CBOT Holding (NYSE: BOT) -$4.45; Deutsche Bank downgrades CBOT Holding (NYSE: BOT) from Buy to Hold with a $195 price target, following surge related to InterContinental Exchange (NYSE: ICE) takeover offer. The firm said, "While we do believe that CME (NYSE: CME) needs to own BOT, especially when one considers the potential loss of nearly $100 million in 2008 revenues as a result of its clearing agreement with the BOT,we don’t believe it would materially bid much higher than BOT’s closing price of $195."
Franklin Resources Inc. (NYSE: BEN) -$3.35; Goldman Sachs downgrades Franklin Resources from Buy to Neutral
Trimeris (Nasdaq: TRMS) -$2.62; Reports Q4 earnings, Amends research agreement with Roche and announces management changes.
Accuray Incorporated (Nasdaq: ARAY) -$1.65; Company reported a Q2 loss of $0.45. Total net revenues were $26.3 million for the quarter ended December 30, 2006, as compared to $11.3 million for the quarter ended December 31, 2005, an increase of 133 percent.
Contact [email protected] for any questions or corrections.
Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.
McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.
His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.
A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.
TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.
McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.