Pre-Market Stock News (December 20, 2007) (ACN, ATVI, ALTU, ARRY, ATHX, BSC, BX, CAKE, ECHO, INTU, FDX, MLHR, IDEV, LDK, LEG, LOCM, NKE, ORCL, PIR, RIMM, RAD, RUTH, SMOD, SCS, DEEP, TRB)

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This is not every bit of news on individual stocks but this is the major news affecting many shares in pre-market activity this Thursday morning:

  • Accenture (ACN) stock up 4% after posting $0.60 EPS vs. estimate of $0.56.
  • Activision (ATVI) again guided earnings higher.
  • Altus Pharmaceuticals (ALTU) traded down almost 20% after it reacquired ALTU-238 development and commercialization rights for North America from Genentech, an end to the development pact.
  • Array BioPharma (ARRY) traded down almost 20% after it announced initial results from a Phase II study comparing its monotherapy with temozolomide in the first-line treatment of advanced melanoma showed no apparent difference in efficacy for the primary endpoint.
  • Athersys (ATHX) and Angiotech announce authorization of Phase I stem cell trial for heart attacks.
  • Bear Stearns (BSC) expected to post first loss.
  • Blackstone (BX) plans to sell a $9 Billion CMBS offer backed by Hilton Hotels in Q1 2008.
  • Cheesecake Factory (CAKE) had a 10% stake taken by activist Nelson Peltz.
  • Electronic Clearing house (ECHO) getting acquired by intuit for $17.00 per share.
  • FedEx (FDX) $1.54 EPS vs. $1.50 estimates (had been lowered) but next quarter $1.15-1.30 vs. $1.38 est.; $6.40 to $6.70 for year bvs. $6.47 estimate.
  • Herman Miller (MLHR) $0.72EPS Vs. estimate of $0.59; stock rose about 10%.
  • Indevus Pharma (IDEV) trading down about 5% on a non-approvable letter from the FDA for VALSTAR NDA supplement (submitted May 2007).
  • Intuit (INTU) paying $131 Million for ECHO.
  • LDK Solar (LDK) $0.37 EPS on $157M revenues vs. $0.37/$143.22M est.; Q4 guidance $0.40-$0.41 on $180-$185M revenues vs. $0.41/$167.5M est.; stock indicated down 5%.
  • Leggett & Platt (LEG) stock down about 5% on lower guidance.
  • Local.com (LOCM) announced a strategic partnership with IAC/Interactive’s Citysearch; stock trading up 7% on news.
  • Nike (NKE) traded up 3% after $0.71 EPS on $4.3 Billion revenues vs. estimates $0.66/$4.3B.
  • Oracle (ORCL) traded up 6% after beating earnings and giving slightly higher guidance; sees enterprise spending lasting into 2008.
  • Pier 1 (PIR) -$0.11 EPS vs -$0.24 estimate.
  • Research-in-Motion (RIMM) reports earnings after the close today.
  • Rite Aid (RAD) indicated down about 5% after posting loss.
  • Ruths Chris (RUTH) gave an earnings warning.
  • Smart Modular Tech (SMOD) $0.18 EPS vs. $0.17 estimate.
  • Steelcase (SCS) $0.30 EPS vs. $0.28 estimate.
  • Superior Offshore (DEEP) signed a letter of intent with a strategic partner for ownership of a DP-III deepwater construction and dive support vessel expected to be delivered in late 2008.
  • Tribune (TRB) buyout supposedly set to close today.

Jon C. Ogg
December 20, 2007