Pre-Market Stock News (July 12, 2007)
July 12, 2007 7:07 am
(AA) Alcoa trading up 6% after Rio Tinto gave a higher rival bid over Alcoa’s buyout offer for Alcan.
(AAON) AAON announced a 3 for 2 stock split.
(AMGN) Amgen and Daiichi Sankyo announced a collaboration and license agreement for the development and commercialization of denosumab in Japan.
(ARIA) Ariad Pharm and Merck entered into a collaboration to jointly develop and commercialize AP23573 for use in cancer.
(DNA) Genentech $0.78 EPS ($0.70 after items) and revenues were $3.0 Billion versus $0.71 & $2.85 Billion estimates; sees Fiscal 2007 EPS $2.85 to $2.95 versus $2.91 estimates.
(EROC) Eagle Rock is making 3 acquisitions totaling $420 million; sees 48% increase in “distributable cash flow.”
(FAST) Fastenal announced a 1 million share buyback plan.
(GE) General Electric and Abbott Labs terminate sale of Abbott’s lab and diagnostics unit.
(GGBM) Gigabeam has regained compliance standards for NASDAQ listing.
(GTXI) GTX’s Phase III development of Acapodene review by an independent Data Safety Monitoring Board recommended that GTX continue clinical development.
(HAL) Halliburton’s board of directors approved its increased $2 Billion share buyback plan.
(IMCL) Imclone and Bristol-Myers Squibb said Erbitux Phase III study in first-line treatment of advanced lung cancer did not meet its primary endpoint of progression-free survival but secondary endpoints were statistically significant and favored the ERBITUX- containing arm.
(MAR) Marriott $0.57 EPS vs $0.53e; but Q3 looks under estimates.
(METH) Methode Electronics $0.33 EPS vs $0.17e; unsure if comparable as guidance range is in-line.
(MFLX) Multi-Fineline saw an unexpected sequential decline in Q3 revenue and now expects a loss.
(MOT) Motorola lowered guidance and sees no more profit from mobile division in 2007.
(NEM) Newmont Mining priced a $1 Billion convertible note offering.
(SPNC) Spectranetics received FDA approval for expanded labeling for TURBO elite to market its TURBO elite laser catheters to treat stenoses and occlusions within leg arteries.
(WMT) Wal-Mart June s-s-s +2.4% vs. 0.8% estimate; sees 1% to 2% July s-s-s growth; sees fiscal 2008 EPS within previous $0.75 to $0.79 guidance; shares indicated up 0.6%.
(WFMI) Whole Foods CEO Mackey has been touting his stock and attacking rival Wild oats for years on Yahoo! message boards.
Jon C. Ogg
July 12, 2007