Jim Cramer Blog

Adobe Inc. (NASDAQ:ADBE - News) shares rose 5.8% Wednesday after the company named Mark Garrett, an EMC Corp. (NYSE:EMC - News) executive, as its new chief financial officer, more than two weeks after the software maker said it had completed an internal review of its stock-options practices.
Affymax Inc. (NASDAQ:AFFY - News) shares rose 6.1% after the company was initiated with an outperform rating at Cowen & Co. RBC Capital Markets also began coverage of the company with an outperform rating and set a $44 price target.
Albemarle Corp. (NYSE:ALB - News) shares added 6.6% after the company reported fourth-quarter net earnings of $63 million, or $1.29 a share, compared with $32.2 million, or 67 cents a share, on the back of a $5.4 million tax benefit and lower costs of good sold.
Allegheny Technologies Inc. (NYSE:ATI - News) shares gained 5.6% after the company posted a 41% surge in fourth-quarter profit on the back of strong demand for titanium and nickel alloys from the aerospace and defense markets.
AmerisourceBergen Corp. (NYSE:ABC - News) shares rallied up 8.1% after the pharmaceutical services company posted a 26% rise in first-quarter profit and lifted its 2007 earnings outlook above Wall Street's forecast.
Ametek (NYSE:AME - News) shares advanced 6.4% after the Paoli, Pa., maker of electronic instruments posted a fourth-quarter profit of $47.8 million, or 45 cents a share, up from year-ago earnings of $36.9 million, or 35 cents a share. Sales rose 19% in the quarter to $480.7 million. The company sees earnings of $1.93 to $1.97 a share for fiscal 2007, surrounding Wall Street's current consensus estimate of $1.95 a share.
Artic Cat (NASDAQ:ACAT - News) shares rose 8.6% after the Thief River Falls, Minn., maker of snowmobiles and all-terrain vehicles reported third-quarter earnings of $8.2 million, or 43 cents a share, on sales of $228.1 million. These results include 2 cents a share in stock option expense and an income tax benefit of 3 cents a share.
Conolog Corp. (NASDAQ:CNLG - News) shares soared 86% after the company said its CM-100 direct substation communicator system has received final testing approval. The CM-100 is scheduled to ensure delivery to customers by the third quarter, the company said. Conolog makes electronic and electromagnetic components and subassemblies for telephones, radio and microwave transmissions.
Corning Inc. (NYSE:GLW - News) said it swung to a fourth-quarter net profit of $646 million, or 41 cents a share, from a year-ago loss of $33 million, or 2 cents a share. Revenue for the quarter rose 14.1% to $1.37 billion. Excluding one-off items, Corning said it earned $488 million, or 31 cents a share in the quarter, exceeding its own guidance and the 28 cents-a-share estimate of analysts polled by Thomson First Call. The materials and fiber optics group said it expects the overall market for LCD glass substrate to grow in the mid-30 percent range, driven by continued demand for LCD televisions, and added its own LCD glass volume is expected to grow at the upper end of this range. The firm added it expects to see significant growth in its heavy-duty diesel products, due to new U.S. emissions regulations that became effective Jan. 1. Overall, Corning said it expects first quarter sales to be in the range of $1.26 billion to $1.31 billion, with earnings in the range of 24 to 27 cents a share.
EZCorp (NASDAQ:EZPW - News) shares jumped 12% after the Austin, Texas-based provider of credit and other financial services late Tuesday reported fiscal first-quarter net earnings of $9.76 million, or 23 cents a share, up from $6.76 million, or 17 cents a share, in the year-ago period. Revenue rose to $91.7 million from $75.8 million. Analysts polled by Thomson First Call had forecast a per-share profit of 20 cents on revenue of $85.5 million. The company expects fiscal second-quarter earnings of 23 cents a share, and fiscal 2007 earnings of 85 cents a share.
Hyperion Solutions Corp. (NASDAQ:HYSL - News) shares moved up 18% after the company agreed to acquire privately held Decisioneering Inc. to gain access to its risk analysis software. Hyperion, a business management software maker, which employs 2,700 workers, plans to run Decisioneering, which employs 75 workers, as an independent unit in Denver. No job cuts are expected. Hyperion declined to disclose the terms of the deal, which is expected to close within the next month. The company also said its second-quarter earnings rose 34%, boosted by growth in software license and maintenance and service revenue. The company had second-quarter earnings of $21.5 million, or 36 cents a share, compared with $15.5 million, or 25 cents a share, a year earlier. Revenue for the quarter ended Dec. 31 rose 20% to $222.9 million from $185.5 million a year ago. Software license revenue rose 14% to $84.9 million, and maintenance and service revenue rose 24% to $138 million. Analysts surveyed by Thomson Financial expected, on average, earnings of 44 cents a share on revenue of $212 million.
Integrated Device Technology Inc. (NASDAQ:IDTI - News) (NYSE:IDT - News)shares added 5.6% after the company reported a third-quarter net loss of $1.94 million, or a penny a share, down from $42.3 million, or 21 cents a share, during the year-ago period.
Introgen Therapeutics Inc. (NASDAQ:INGN - News) shares moved up 7.9% after the company said Wednesday a preclinical study with INGN 241 in combination with Genentech Inc.'s (NYSE:DNA - News) Avastin showed "synergistic activity" resulting in "a curative therapeutic effect" in the treatment of lung cancer. The new data were published in the journal Molecular Therapy. Introgen said the study showed that the combination of INGN 241 and Avastin was "very effective" and blocked tumor angiogenesis. In the study, tumors completely regressed within the first four weeks of treatment and no additional growth was observed after cessation of therapy, the company said.
Level 3 Communications (NASDAQ:LVLT - News) shares gained 5.2% after the company was initiated with an outperform rating at Cowen & Co.
National Interstate's (NASDAQ:NATL - News) shares advanced 23% after the Richfield, Ohio-based insurance company late Tuesday forecast fourth-quarter net income in a range of 54 cents to 60 cents a share and full-year 2006 net income of $1.80 to $1.86 a share. Analysts polled by Thomson First Call are looking for fourth-quarter earnings of 51 cents a share and 2006 earnings of $1.75 a share. The company expects gross premiums written of $61.5 million in the fourth quarter, and $305.5 million for 2006.
OSI Systems (NASDAQ:OSIS - News) shares added 6.5% after the company said it expects revenue of about $137 million for the second quarter, a level that would represent growth of 17% from year-ago levels. The company also disclosed plans for a restructuring, saying it will reduce its global workforce by 8% and consolidate certain facilities. It's targeting annual cost savings of between $15 million and $17 million from these moves. OSI expects to record a charge of between $31 million and $34 million in the second quarter from asset impairment and the recording of additional inventory reserves. Excluding items, it sees a breakeven performance in the quarter on an operating basis. Hawthorne, Calif.-based OSI withdrew its earnings outlook for fiscal 2007 but backed a forecast for revenue of between $535 million and $545 million for the year.
Shares of Parametric Technology Corp. (NASDAQ:PMTC - News) rose 7.2% after the business software maker reported that its fiscal first quarter earnings doubled compared to the year-earlier period. PTC said GAAP net income rose to $15.2 million, or 13 cents per diluted share, compared to $7.5 million, or seven cents per diluted share in the year-earlier period. Revenue grew 15% to $221.7 million, the company said, while total software license revenue grew 14% to $66.6 million.
RF Micro Devices (NASDAQ:RFMD - News) shares surged 14% after the company said fiscal third-quarter net income rose sharply to $59.3 million, or 26 cents a share, from $14.7 million, or 7 cents a share, a year earlier. The Greensboro, N.C., mobile communications technology company said results were driven by strength at the world's leading handset manufacturers, market share gains in RF semiconductors and high demand for the company's cellular transceivers and transmit modules. Results from the latest quarter included other income of $1.3 million, whereas the year-ago quarter included other income of $298,000. Excluding items such as share-based compensation, amortization, an impairment charge, a gain on sale of substantially all Bluetooth assets, and restructuring charges related to sale of substantially all Bluetooth assets RF Micro Devices earned 16 cents a share, up from 8 cents a share a year earlier. Revenue for the quarter ended Dec. 31 rose 35% to $281.1 million from $208 million. On average, analysts polled by Thomson Financial expected earnings of 13 cents a share on revenue of $273.2 million. Third-quarter results also beat the company's internal projections.
Rockwell Medical Technologies' (NASDAQ:RMTI - News) shares rose 11% after the Wixom, Mich.-based pharmaceutical company reported favorable results from pre-clinical safety studies for its iron-delivery product, soluble ferric pyrophosphate. Rockwell said it's preparing to begin human clinical trials consisting of a nine-month dose ranging study followed by a final clinical study. Upon favorable results, the company said it expects to receive Food and Drug Administration market approval for SFP sometime thereafter.
Seagate Technology (NYSE:STX - News) shares added 8.3% after the company said its fiscal second-quarter net income fell 51.2% to $140 million, or 23 cents a share, from $287 million, or 57 cents a share a year ago. Excluding a $76 million charge related to an acquisition of Maxtor and $29 million for the early retirement of 8% notes, earnings were $236 million, or 39 cents a share. Revenue for the quarter ended Dec. 29 increased 30.3% to $3 billion from $2.3 billion a year earlier, said the Scotts Valley, Calif., provider of hard disc drives. On average, analysts polled by Thomson Financial predicted second-quarter earnings of 32 cents a share, on revenue of $2.93 million. Analyst estimates exclude integration and retention costs and amortization of intangibles.
Sun Micro (NASDAQ:SUNW - News) shares surged 8.5% after the hardware maker issued an upbeat fiscal second-quarter report and bullish forecast.
Transcend Services' (NASDAQ:TRCR - News) shares jumped 37% after the Atlanta-based company reported fourth-quarter earnings of $762,000, or 10 cents a share. In the same quarter last year, the company posted a net loss of $444,000, or 6 cents a share. Revenue rose to $8.95 million from $7.3 million. Transcend Services provides medical transcription services to the healthcare industry.
TransDigm Group (NYSE:TDG - News) shares leapt 12% after the Cleveland-based maker of aircraft components forecast fiscal first-quarter net earnings of 43 cents a share, or adjusted earnings of 46 cents a share, on revenue of $123 million. TransDigm also said it now expects fiscal 2007 earnings of $1.68 to $1.80 a share, or adjusted earnings of $1.79 to $1.91 a share, on revenue of $500 million to $510 million. Analysts polled by Thomson First Call are forecasting 2007 earnings of $1.68 a share on revenue of $533 million.
TRM Corp. (NASDAQ:TRMM - News) shares rocketed up 50% after the company said it's sold its TRM Ltd. unit, which owns its ATM business in the U.K. and Germany, to NoteMachine Ltd. for 47.1 million pounds ($92.6 million). Portland, Ore.-based TRM said net proceeds from the sale were used to pay down debt. NoteMachine is a portfolio company of Rutland Partners LLP, a private equity partnership. "The sale of our European ATM business is a component of our ongoing efforts to simplify our business operations," said Jeff Brotman, TRM president and chief executive, in a statement.
Vertrue (NASDAQ:VTRU - News) shares rose 9.2% after the Norwalk, Conn.-based Internet marketer reported fiscal second-quarter net earnings of $8.7 million, or 74 cents a share, up from $7.66 million, or 66 cents a share, in the year-ago period. Revenue rose to $178.6 million from $160.1 million. The company expects fiscal 2007 earnings of $3.30 to $3.40 a share on revenue of $748 million to $758 million.
Yahoo (NASDAQ:YHOO - News) shares added 7.5% after the company reported fourth-quarter profit plunged 61% from a year ago, when it booked a large one-time investment gain. The Internet bellwether was also hurt by higher costs for employee stock options.
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ABM Industries Inc. (NYSE:ABM - News) said fourth-quarter net income rose to $61.6 million, or $1.24 a share, from $8.43 million, or 17 cents a share, during the same period in the prior year. Quarterly revenue rose to $776.7 million from $658.7 million in the prior year. For fiscal 2007, the facility services contractor said it sees income from continuing operations of $1 to $1.05 per share, and earnings before items of $1.10 to $1.15 per share. Also, ABM's board raised the quarterly cash dividend 9% to 12 cents per share. The dividend is payable Feb. 5 to shareholders as of Jan. 12. The board has also authorized a buyback for up to two million ABM shares.
AmerisourceBergen Corp. (NYSE:ABC - News) backed its full-year 2007 profit forecast ahead of its annual investor meeting.
Amgen Inc. (NASDAQ:AMGN - News) said it has authorized the buyback of an additional $5 billion in shares. The Thousand Oaks, Calif.-based biotechnology company has $1.5 billion remaining under its previous stock repurchase authorization.
Apple Computer Inc. (NASDAQ:AAPL - News) shares rose after Morgan Stanley analyst Rebecca Runkle raised her price target on Apple's stock to $110 from $90. Runkle said new products in 2007 would add to Apple's revenue growth, and she also raised her 2007 earnings estimate for the company to $3.13 a share from $2.58.
Atlas Energy Resources (NYSE:ATN - News) shares rose in the company's initial public offering.
Atmel Corp. (NASDAQ:ATML - News) shares surged after the chipmaker said it plans to restructure its operations, which includes the sale of two factories in Europe and job cuts. "This is the restructuring announcement that investors have been patiently awaiting," wrote Wedbush Morgan analyst Craig Berger, who lifted his price target on Atmel shares to $8 and reiterated his buy rating. Atmel, in an announcement Tuesday evening, said the restructuring will slash costs by $70 million to $80 million in 2007. Approximately 1,300 employees will cut from its 8,000-person workforce worldwide. Atmel, of San Jose, Calif., makes microcontroller and radio-frequency chips used in cell phones, disk drives, car alarms, camcorders and other applications.
Buckle Inc. (NYSE:BKE - News) said its board has authorized a one-time cash dividend of $3 per share. The dividend is payable Jan. 2 to shareholders as of Dec. 22, according to the Kearney, Neb.-based retailer.
Celanese Corp. (NYSE:CE - News) said it is relocating strategic management of the company's Acetyls business to Shanghai, China, as early as spring 2007. The chemical company added that it expects to derive 45% to 55% of its earnings from Asia by 2010, compared with the current level of 30%. The company also said it expects 2007 adjusted earnings of $2.60 to $2.90 a share. That view surrounds the average analyst estimate compiled by Thomson First Call of $2.85 a share. The company also said it was reorganizing into three business groups -- advanced engineered materials, consumer and industrial specialties and acetyl intermediates -- as it moves to improve earnings and reach its target of adding $300 million to $350 million to EBITDA (earnings before interest, taxes, depreciation and amortization) growth by 2010. The company is also selling its oxo products and derivatives businesses to private equity firm Advent International for 480 million euro, or about $630 million.
CPI International (NASDAQ:CPII - News) shares rose after the Palo Alto, Calif.-based provider of microwave and radio frequency products late Tuesday reported fiscal fourth-quarter net earnings of $6.19 million, or 35 cents a share. In the same quarter last year, the company posted a net loss of $2.4 million, or 19 cents a share. Revenue rose to $82.6 million from $74.9 million. Analysts polled by Thomson First Call had forecast a per-share profit of 25 cents on revenue of $83.3 million. In fiscal 2007, CPI expects earnings of $1.24 to $1.30 a share on revenue of $350 million to $355 million.
Depomed (NASDAQ:DEPO - News) shares rose after the company said it's received a commitment for up to $30 million in common stock equity financing from Azimuth Opportunity Ltd.
Exact Sciences Corp. (NASDAQ:EXAS - News) shares leapt after the Marlborough, Mass.-based biotech company said a study of stool DNA testing found that the test demonstrated an 88% sensitivity for colorectal cancer, with equal detection across all stages, regardless of the cancer's location in the colon. The study was published online in the American Gastroenterological Association's journal, Clinical Gastroenterology and Hepatology. Exact Sciences has licensed certain of its technologies to Laboratory Corp. of America Holdings (NYSE:LH - News) for a stool-based DNA screening test.
Gander Mountain Co. (NASDAQ:GMTN - News) shares rose after the St. Paul, Minn.-based outdoor products retailer late Tuesday said David Pratt, its new chairman, has agreed to buy 5.7 million newly issued shares, for $8.77 each, for a total purchase price of $50 million. The company also said it plans to open more than a dozen new stores in fiscal 2007 and upgrade a number of existing stores.
Guidance Software Inc. (NASDAQ:GUID - News) shares surged in the company's initial public offering.
Health Net Inc. (NYSE:HNT - News) lifted its full-year 2007 earnings forecast above Wall Street's average expectation due to its share buyback program.
Home Depot (NYSE:HD - News) is taking its first steps into the China market with its acquisition of 12 home-improvement stores, the retailer said. Home Depot will buy the stores in six cities from Home Way, China's first home-improvement retailer.
IPG Photronics Corp. (NASDAQ:IPGP - News) shares leapt in the company's stock market debut.
Lumera Corp. (NASDAQ:LMRA - News) shares jumped after the Bothell, Wash.-based company reported "encouraging" results for its multi-band millimeter wave wireless bridge. Lumera said data rates from 2.5 Gbps to 10 Gbps were successfully tested and that the company expects the system will have the capacity to operate at a range of up to three miles per data link. "In the next 12 to 18 months, we will continue to improve the functionality of the system, optimize the design, and continue testing as we work to create a commercial ready product," said Dr. Raluca Dinu, director of Lumera's Electro-Optics business unit, in a statement.
Martek Biosciences (NASDAQ:MATK - News) said fourth-quarter net earnings dropped to $641,000, or 2 cents a share, compared with $4.89 million, or 15 cents a share, in the same period last year.
MEDecision Inc. (NASDAQ:MEDE - News) shares rose in the company's opening day of trading.
Midwest Air Group (AMEX:MEH - News) shares surged after AirTran Holdings Inc. (NYSE:AAI - News) unveiled an offer to buy Midwest for $290 million.
Pixelworks (NASDAQ:PXLW - News) said Allen Alley plans to resign from the president and chief executive officer positions, effective Dec. 31. Hans Olsen, currently an executive vice president and chief operating officer, will serve in both roles on an interim basis until a successor is named. The Tualatin, Ore., semiconductor maker has formed a search committee to fill the positions of president and CEO. Also, the company said it now expects revenue of $28 million to $30 million for the fourth quarter, a forecast that's within its previously disclosed outlook.
Progen Industries Ltd.'s (NASDAQ:PGLA - News) shares soared after the Australia-based pharmaceutical company announced positive preliminary results from its Phase II clinical trial of PI-88 for the treatment of patients with primary liver cancer following surgical resection of the tumor. The trial demonstrated that PI-88 increased time to tumor recurrence by 76%, the company said. "These results offer excellent support as we proceed to Phase III development, with the guidance of the FDA, as rapidly as possible," said Justus Homburg, Progen's chief executive, in a statement. Progen said it's preparing for a much larger Phase III trial of PI-88 for the treatment of liver cancer.
Tibco Software (NASDAQ:TIBX - News) shares gained after the Palo Alto, Calif., maker of business process software said it expects revenue of about $158 million for the fourth quarter, ahead of a prior projection for revenue of between $140 million and $144 million. The company expects earnings for the quarter to exceed its prior view by more than 2 cents a share.
UAL Corp. (NASDAQ:UAUA - News) and Continental Airlines (NYSE:CAL - News) are reportedly in talks about a possible merger, according to The Wall Street Journal and The New York Times.

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