Pre-Open Movers 04/09
Pre-Open Movers:
Memory Pharmaceuticals Corp. (NASDAQ: MEMY) 30% HIGHER; completed enrollment in its Phase 2a trial of MEM 1003 in Alzheimer's disease. The Company expects to report top-line results for this trial in the fourth quarter of 2007.
American Home Mortgage Investment Corp. (NYSE: AHM) 20% LOWER; lowered its Q1 and full year outlook due to conditions in the secondary mortgage and mortgage-backed securities markets. The Company also lowered their dividend policy.
The9 Ltd. (NASDAQ: NCTY) 14% HIGHER; According to reports from Reuters, citing Shanghai Securities News, Electronic Arts (NASDAQ: ERTS) is in a deal to acquire 19% of The9 Ltd. for about $200 million.
USA Technologies Inc. (NASDAQ: USAT) 12% HIGHER; MasterCard Worldwide and USA Technologies announced today that Coca-Cola Bottling Company United Inc., the third largest bottler in America, is installing cashless payment technology in vending machines
Dendreon Corp. (NASDAQ: DNDN) 10% HIGHER; extends recent momentum and Friday's 19.7% move ahead of FDA meeting in May.
Allot Communications Ltd (NASDAQ: ALLT) 9% HIGHER; Positive Barron's mention
Dow Chemical (NYSE: DOW) 8% HIGHER; According to reports from the UK's Sunday Express, a consortium including Middle Eastern investors and American buyout firms is preparing a $50 billion offer for Dow Chemical. The paper said the offer could range between $52-$58 per share.
NetLogic Microsystems, Inc. (NASDAQ: NETL) 5% HIGHER; expects to report first quarter revenue that represents an increase of 11-11.5% from the fourth quarter of 2006, which is higher than its previous guidance issued on Jan. 24, 2007. At that time, the company gave guidance of 8-10% sequential revenue growth. Also announced that Don Witmer will step down from his position as vice president and chief financial officer.
Mirant Corp. (NYSE: MIR) 4% HIGHER; to Explore Strategic Alternatives to Enhance Stockholder Value
Advanced Micro Devices Inc. (NYSE: AMD) 4% HIGHER; lowers revenue guidance but said it will reduce 2007 capital expenditures by approximately $500 million.
Burlington Northern Santa Fe Corp. (NYSE: BNI) 4% HIGHER; A filing showed Warren Buffett's Berkshire Hathaway has accumulated a 39 million shares (10.9%) stake in Burlington Northern Santa Fe Corp. Other rail stocks higher: CSX Corp. (NYSE: CSX), Norfolk Southern Corp. (NYSE: NSC), Union Pacific Corp. (NYSE: UNP) and Canadian National Railway Company (NYSE: CNI).
Cambrex Corporation (NYSE: CBM) 3.7% HIGHER; announced that its Board of Directors approved a one-time payment of $14.00 per share to shareholders through a special cash dividend. The special dividend is payable on May 3, 2007 to shareholders of record as of April 20, 2007.
Schnitzer Steel Industries, Inc. (NASDAQ: SCHN) 3% HIGHER; reports Q2 EPS of $0.93 vs. consensus of $0.62. Revenues were $604 million vs. $493.14 million consensus.
Sanmina-SCI (NASDAQ: SANM) 3% LOWER; expects to report revenue of approximately $2.6 billion compared to previously provided guidance of $2.65-$2.75 billion for Q2.
MedImmune, Inc. (NASDAQ: MEDI) 2.5% HIGHER; anticipates its Q1 diluted earnings per share (EPS), excluding share-based compensation expense, to be in the range of $0.62 to $0.67, as compared to $0.23 in diluted EPS in the 2006 first quarter, excluding share-based compensation. (Current consensus is $0.50)
Memory Pharmaceuticals Corp. (NASDAQ: MEMY) 30% HIGHER; completed enrollment in its Phase 2a trial of MEM 1003 in Alzheimer's disease. The Company expects to report top-line results for this trial in the fourth quarter of 2007.
American Home Mortgage Investment Corp. (NYSE: AHM) 20% LOWER; lowered its Q1 and full year outlook due to conditions in the secondary mortgage and mortgage-backed securities markets. The Company also lowered their dividend policy.
The9 Ltd. (NASDAQ: NCTY) 14% HIGHER; According to reports from Reuters, citing Shanghai Securities News, Electronic Arts (NASDAQ: ERTS) is in a deal to acquire 19% of The9 Ltd. for about $200 million.
USA Technologies Inc. (NASDAQ: USAT) 12% HIGHER; MasterCard Worldwide and USA Technologies announced today that Coca-Cola Bottling Company United Inc., the third largest bottler in America, is installing cashless payment technology in vending machines
Dendreon Corp. (NASDAQ: DNDN) 10% HIGHER; extends recent momentum and Friday's 19.7% move ahead of FDA meeting in May.
Allot Communications Ltd (NASDAQ: ALLT) 9% HIGHER; Positive Barron's mention
Dow Chemical (NYSE: DOW) 8% HIGHER; According to reports from the UK's Sunday Express, a consortium including Middle Eastern investors and American buyout firms is preparing a $50 billion offer for Dow Chemical. The paper said the offer could range between $52-$58 per share.
NetLogic Microsystems, Inc. (NASDAQ: NETL) 5% HIGHER; expects to report first quarter revenue that represents an increase of 11-11.5% from the fourth quarter of 2006, which is higher than its previous guidance issued on Jan. 24, 2007. At that time, the company gave guidance of 8-10% sequential revenue growth. Also announced that Don Witmer will step down from his position as vice president and chief financial officer.
Mirant Corp. (NYSE: MIR) 4% HIGHER; to Explore Strategic Alternatives to Enhance Stockholder Value
Advanced Micro Devices Inc. (NYSE: AMD) 4% HIGHER; lowers revenue guidance but said it will reduce 2007 capital expenditures by approximately $500 million.
Burlington Northern Santa Fe Corp. (NYSE: BNI) 4% HIGHER; A filing showed Warren Buffett's Berkshire Hathaway has accumulated a 39 million shares (10.9%) stake in Burlington Northern Santa Fe Corp. Other rail stocks higher: CSX Corp. (NYSE: CSX), Norfolk Southern Corp. (NYSE: NSC), Union Pacific Corp. (NYSE: UNP) and Canadian National Railway Company (NYSE: CNI).
Cambrex Corporation (NYSE: CBM) 3.7% HIGHER; announced that its Board of Directors approved a one-time payment of $14.00 per share to shareholders through a special cash dividend. The special dividend is payable on May 3, 2007 to shareholders of record as of April 20, 2007.
Schnitzer Steel Industries, Inc. (NASDAQ: SCHN) 3% HIGHER; reports Q2 EPS of $0.93 vs. consensus of $0.62. Revenues were $604 million vs. $493.14 million consensus.
Sanmina-SCI (NASDAQ: SANM) 3% LOWER; expects to report revenue of approximately $2.6 billion compared to previously provided guidance of $2.65-$2.75 billion for Q2.
MedImmune, Inc. (NASDAQ: MEDI) 2.5% HIGHER; anticipates its Q1 diluted earnings per share (EPS), excluding share-based compensation expense, to be in the range of $0.62 to $0.67, as compared to $0.23 in diluted EPS in the 2006 first quarter, excluding share-based compensation. (Current consensus is $0.50)
