Biggest Gainers Friday
Accredited Home Lenders Holding (NASDAQ:LEND - News) was upgraded to outperform from peer perform at Bear Stearns. The firm set a year-end 2007 price target of $32.
Adobe (NASDAQ:ADBE - News) reported its fiscal fourth-quarter profit rose 16%, as an investment gain and higher sales of its business and creative software offset charges related to its acquisition of smaller rival Macromedia.
Applica Inc. (NYSE:APN - News) said it's reached a merger agreement with affiliates of Harbinger Capital Partners. The deal calls for Harbinger to increase its bid to acquire the shares of Applica that it doesn't already own for $6.50 per share. Harbinger currently owns about 40% of Applica's common stock. The higher bid follows Applica's receipt of an unsolicited acquisition offer from NACCO Industries. Shares of Applica, a Miramar, Fla., maker of small household appliances, closed Thursday at $5.76, up 3 cents.
Bear Stearns Cos. (NYSE:BSC - News) said it has increased its share buyback program to $2 billion from $1.5 billion.
CalAmp (NASDAQ:CAMP - News) shares rose after the company said its Dataradio unit has received a contract worth about $1.3 million from Michigan's Genesee County E-911 Consortium. The deal calls for Dataradio to replace the Consortium's existing mobile data public safety network for first responders.
ChipMOS Technologies (NASDAQ:IMOS - News) lifted its revenue outlook for the fourth quarter to $176 million to $181 million from a prior projection ranging from $168 million to $172 million. For November, the Taiwan provider of semiconductor testing and assembly services said its revenue totaled $61.5 million, an increase of 1.9% from October and 40% from a year ago. The company also raised its gross margin forecast to 29% to 32% for the fourth quarter from a prior view of 26% to 29%.
Christopher & Banks (NYSE:CBK - News) said it has pushed forward the effective date for Matthew Dillon to become president and chief executive to Jan. 1. Previously, Dillon, who is president and chief merchandising officer, was scheduled to become CEO on March 1.
Ciena Corp. (NASDAQ:CIEN - News) was upgraded to buy from hold at Deutsche Bank.
Culp Inc. (NYSE:CFI - News) said it plans to consolidate its U.S. upholstery fabrics manufacturing facilities and outsource its specialty yarn production, resulting in the elimination of 185 jobs. Culp said it will close its weaving plant in Graham, N.C., and its yarn plant in Lincolnton, N.C.
DRS Technologies (NYSE:DRS - News) was upgraded to equal-weight from undereweight at Morgan Stanley.
E-Trade Financial (NYSE:ET - News) said it will move its stock market listing to Nasdaq from the New York Stock Exchange to save money and more closely align the company with the activities of its trading customers. E-Trade's new listing will be effective on Dec. 27. The new ticker will be "ETFC."
Fibernet Telecom Group (NASDAQ:FTGX - News) was initiated with a buy rating at Merriman Curhan Ford.
GenVec (NASDAQ:GNVC - News) shares jumped after the company reported positive phase I human trials for an HIV vaccine that is based on its proprietary adenovirus vector technology.
ICON Plc (NASDAQ:ICLR - News) said it raised its 2006 earnings and revenue forecast to reflect a strong backlog and continued new business awards. The Dublin, Ireland provider of development services to the pharmaceutical and medical device industries said it now expects earnings of $1.28 to $1.30 a share and revenue of $448 million to $452 million. Analysts surveyed by Thomson First Call had been expecting earnings of $1.29 a share and revenue of $448.5 million, on average. For 2007, the company expects earnings, including stock compensation expenses, to rise to $1.63 to $1.71 a share, and revenue to grow to $530 million to $550 million.
Immunicon Corp. (NASDAQ:IMMC - News) shares soared after the company said Veridex LLC has received Food and Drug Administration clearance for the CellSearch circulating tumor cell kit as an aid in monitoring patients with metastatic breast cancer. Veridex, a unit of Johnson & Johnson (NYSE:JNJ - News).
Intuit Inc. (NASDAQ:INTU - News) agreed to acquire Electronic Clearing House Inc. (NASDAQ:ECHO - News) for $142 million. Intuit will pay $18.75 per Electronic Clearing share, including shares issuable upon exercise of options.
Lattice Semiconductor Corp. (NASDAQ:LSCC - News) lowered its view for fourth-quarter revenue, and now expects sequential sales to drop 2% to 4%. Previously, the company forecast sequential revenue to range from matching the prior quarter's results to growing 4%.
Monsanto (NYSE:MON - News) shares rose after the company was upgraded to buy at Goldman Sachs.
Natural Resource Partners (NYSE:NRP - News) was upgraded to buy from hold at Citigroup Investment Research. The firm also lifted its price target on the stock to $60 from $55.
Northern Trust (NASDAQ:NTRS - News) was upgraded to buy from neutral at Merrill Lynch. The firm cited strong global capital market returns in the fourth quarter for the move.
Quiksilver Inc. (NYSE:ZQK - News) said fourth-quarter net income rose, as revenue gained, to $65.3 million, or 51 cents a share, from $33.6 million, or 27 cents a share, during the same period in the prior year. The Huntington Beach, Calif.-based apparel company said quarterly revenue rose to $778.4 million from $637.4 million.
Safeguard Scientifics Inc. (NYSE:SFE - News) said Christopher Davis has resigned as chief financial officer to pursue other interests. The investment firm said it has named Stephen Zarrilli, co-founder of the Penn Valley Group, as acting CFO.
Servidyne (NASDAQ:SERV - News) shares rallied after the company posted earnings of $355,951, or 10 cents a share, for its fiscal second quarter, up from a year-ago loss of $22,914, or a penny per share. The company also said it's sold a shopping center in Morton, Ill., for $3.55 million. This transaction will result in a gain of $3.1 million to be recorded in the January quarter.
Shoe Carnival (NASDAQ:SCVL - News) approved the buyback of up to $50 million of its shares. The repurchase authorization is valid through Dec. 31, 2008, the Evansville, Ind.-based footwear and accessories retailer said.
Star Gas Partners (NYSE:SGU - News), a distributor of heating oil, said its fiscal fourth-quarter net loss narrowed to $21.6 million, or 28 cents per limited partner unit, from $46.5 million, or $1.30 cents per unit. Revenue for the quarter rose 0.5% to $151.5 million as the impact of higher selling prices more than offset an 11.9% reduction in home heating oil volume. The company also announced that it would delay filing its 10-K form for the year ended Sept. 30 as it is still assessing its accounting treatment of certain derivatives transactions. Star Gas said it may have to make material adjustments to its historical financial statements if it finds it does not meet the accounting requirements for those derivatives transactions. However, it added it does not expect any restatement to have an effect on its liquidity or business.
State Street (NYSE:STT - News) was upgraded to buy from neutral at Merrill Lynch.
Temple-Inland (NYSE:TIN - News) was upgraded to buy from hold at Deutsche Bank. The firm also lifted its price target on the stock to $55 from $40.
Weyerhaeuser (NYSE:WY - News) was upgraded to buy from hold at Deutsche Bank with a price target boost to $80 from $65.
-MarketWatch
Adobe (NASDAQ:ADBE - News) reported its fiscal fourth-quarter profit rose 16%, as an investment gain and higher sales of its business and creative software offset charges related to its acquisition of smaller rival Macromedia.
Applica Inc. (NYSE:APN - News) said it's reached a merger agreement with affiliates of Harbinger Capital Partners. The deal calls for Harbinger to increase its bid to acquire the shares of Applica that it doesn't already own for $6.50 per share. Harbinger currently owns about 40% of Applica's common stock. The higher bid follows Applica's receipt of an unsolicited acquisition offer from NACCO Industries. Shares of Applica, a Miramar, Fla., maker of small household appliances, closed Thursday at $5.76, up 3 cents.
Bear Stearns Cos. (NYSE:BSC - News) said it has increased its share buyback program to $2 billion from $1.5 billion.
CalAmp (NASDAQ:CAMP - News) shares rose after the company said its Dataradio unit has received a contract worth about $1.3 million from Michigan's Genesee County E-911 Consortium. The deal calls for Dataradio to replace the Consortium's existing mobile data public safety network for first responders.
ChipMOS Technologies (NASDAQ:IMOS - News) lifted its revenue outlook for the fourth quarter to $176 million to $181 million from a prior projection ranging from $168 million to $172 million. For November, the Taiwan provider of semiconductor testing and assembly services said its revenue totaled $61.5 million, an increase of 1.9% from October and 40% from a year ago. The company also raised its gross margin forecast to 29% to 32% for the fourth quarter from a prior view of 26% to 29%.
Christopher & Banks (NYSE:CBK - News) said it has pushed forward the effective date for Matthew Dillon to become president and chief executive to Jan. 1. Previously, Dillon, who is president and chief merchandising officer, was scheduled to become CEO on March 1.
Ciena Corp. (NASDAQ:CIEN - News) was upgraded to buy from hold at Deutsche Bank.
Culp Inc. (NYSE:CFI - News) said it plans to consolidate its U.S. upholstery fabrics manufacturing facilities and outsource its specialty yarn production, resulting in the elimination of 185 jobs. Culp said it will close its weaving plant in Graham, N.C., and its yarn plant in Lincolnton, N.C.
DRS Technologies (NYSE:DRS - News) was upgraded to equal-weight from undereweight at Morgan Stanley.
E-Trade Financial (NYSE:ET - News) said it will move its stock market listing to Nasdaq from the New York Stock Exchange to save money and more closely align the company with the activities of its trading customers. E-Trade's new listing will be effective on Dec. 27. The new ticker will be "ETFC."
Fibernet Telecom Group (NASDAQ:FTGX - News) was initiated with a buy rating at Merriman Curhan Ford.
GenVec (NASDAQ:GNVC - News) shares jumped after the company reported positive phase I human trials for an HIV vaccine that is based on its proprietary adenovirus vector technology.
ICON Plc (NASDAQ:ICLR - News) said it raised its 2006 earnings and revenue forecast to reflect a strong backlog and continued new business awards. The Dublin, Ireland provider of development services to the pharmaceutical and medical device industries said it now expects earnings of $1.28 to $1.30 a share and revenue of $448 million to $452 million. Analysts surveyed by Thomson First Call had been expecting earnings of $1.29 a share and revenue of $448.5 million, on average. For 2007, the company expects earnings, including stock compensation expenses, to rise to $1.63 to $1.71 a share, and revenue to grow to $530 million to $550 million.
Immunicon Corp. (NASDAQ:IMMC - News) shares soared after the company said Veridex LLC has received Food and Drug Administration clearance for the CellSearch circulating tumor cell kit as an aid in monitoring patients with metastatic breast cancer. Veridex, a unit of Johnson & Johnson (NYSE:JNJ - News).
Intuit Inc. (NASDAQ:INTU - News) agreed to acquire Electronic Clearing House Inc. (NASDAQ:ECHO - News) for $142 million. Intuit will pay $18.75 per Electronic Clearing share, including shares issuable upon exercise of options.
Lattice Semiconductor Corp. (NASDAQ:LSCC - News) lowered its view for fourth-quarter revenue, and now expects sequential sales to drop 2% to 4%. Previously, the company forecast sequential revenue to range from matching the prior quarter's results to growing 4%.
Monsanto (NYSE:MON - News) shares rose after the company was upgraded to buy at Goldman Sachs.
Natural Resource Partners (NYSE:NRP - News) was upgraded to buy from hold at Citigroup Investment Research. The firm also lifted its price target on the stock to $60 from $55.
Northern Trust (NASDAQ:NTRS - News) was upgraded to buy from neutral at Merrill Lynch. The firm cited strong global capital market returns in the fourth quarter for the move.
Quiksilver Inc. (NYSE:ZQK - News) said fourth-quarter net income rose, as revenue gained, to $65.3 million, or 51 cents a share, from $33.6 million, or 27 cents a share, during the same period in the prior year. The Huntington Beach, Calif.-based apparel company said quarterly revenue rose to $778.4 million from $637.4 million.
Safeguard Scientifics Inc. (NYSE:SFE - News) said Christopher Davis has resigned as chief financial officer to pursue other interests. The investment firm said it has named Stephen Zarrilli, co-founder of the Penn Valley Group, as acting CFO.
Servidyne (NASDAQ:SERV - News) shares rallied after the company posted earnings of $355,951, or 10 cents a share, for its fiscal second quarter, up from a year-ago loss of $22,914, or a penny per share. The company also said it's sold a shopping center in Morton, Ill., for $3.55 million. This transaction will result in a gain of $3.1 million to be recorded in the January quarter.
Shoe Carnival (NASDAQ:SCVL - News) approved the buyback of up to $50 million of its shares. The repurchase authorization is valid through Dec. 31, 2008, the Evansville, Ind.-based footwear and accessories retailer said.
Star Gas Partners (NYSE:SGU - News), a distributor of heating oil, said its fiscal fourth-quarter net loss narrowed to $21.6 million, or 28 cents per limited partner unit, from $46.5 million, or $1.30 cents per unit. Revenue for the quarter rose 0.5% to $151.5 million as the impact of higher selling prices more than offset an 11.9% reduction in home heating oil volume. The company also announced that it would delay filing its 10-K form for the year ended Sept. 30 as it is still assessing its accounting treatment of certain derivatives transactions. Star Gas said it may have to make material adjustments to its historical financial statements if it finds it does not meet the accounting requirements for those derivatives transactions. However, it added it does not expect any restatement to have an effect on its liquidity or business.
State Street (NYSE:STT - News) was upgraded to buy from neutral at Merrill Lynch.
Temple-Inland (NYSE:TIN - News) was upgraded to buy from hold at Deutsche Bank. The firm also lifted its price target on the stock to $55 from $40.
Weyerhaeuser (NYSE:WY - News) was upgraded to buy from hold at Deutsche Bank with a price target boost to $80 from $65.
-MarketWatch
Labels: ADBE, APN, BSC, CBK, CFI, CIEN, DRS, ECHO, ET, FTGX, GNVC, ICLR, IMMC, IMOS, INTU, JNJ, LEND, LSCC, SERV, SGU
posted by Stock Administrator @ 12:13 PM
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