Biggest Decliners Friday
Achillion Pharmaceuticals (NasdaqGM:ACHN - News) shares plunged 50% after the company and Gilead Sciences said late Thursday they have discontinued the development of a treatment for hepatitis C called GS9132. The drug was found to raise the level of serum creatinine, which indicates abnormal kidney function. The companies said the levels fell after the drug cease to be administered. Following the results of Phase 1b/2 studies, the companies said they would shift its focus to other antagonists of a viral protein called NS4A in order to find a lead candidate. The antagonists are developed by Achillion.
BMC Software (NYSE:BMC - News) shares fell 6.6% after the company reported that third-quarter net income rose 31% to $63.9 million, or 30 cents a share, from 48.7 million, or 22 cents a share as revenue grew 8.6%. Excluding certain items, the company recorded adjusted per-share earnings of 41 cents. The Houston management systems company's revenue for the quarter ended Dec. 31 rose to $412.9 million from $380.3 million in the year-earlier period. On average, analysts expected adjusted per-share earnings of 39 cents on revenue of $402.9 million, according to a poll by Thomson Financial. For 2007 the company now expects adjusted per-share earnings of $1.45 to $1.49 compared with $1.40 to $1.48, previously. Wall Street expects adjusted per-share earnings of $1.47. For the fourth-quarter, the company expects adjusted per-share earnings 36 cents to 40 cents on revenue of $415 million to $435 million. Analysts expect adjusted per-share earnings of 40 cents on revenue of $423.5 million.
Brady Corp. (NYSE:BRC - News) shares fell 9.3% after the company said it expects second-quarter per-share net income at 33 cents to 36 cents for the quarter ended January 31, on revenue of $321 million. On average, analysts expect the company to report per-share earnings of 49 cents on revenue of $307.3 million, according to a poll by Thomson Financial. The company said its OEM electronics business softened in the quarter, largely in mobile handsets and hard disks. The Milwaukee identification products provider expects 2007 per-share earnings of $2.06 to $2.15, down from $2.22 to $2.29 previously expected, on revenue of $1.35 billion to $1.37 billion, up from $1.25 billion to $1.28 billion. Wall Street expects 2007 per-share earnings of $2.30 on revenue of $1.28 billion.
Callaway Golf Co. (NYSE:ELY - News) shares lost 11% after the company reported a fourth-quarter net loss $10.2 million, or 15 cents a share, compared with a net loss of $18.7 million, or 27 cents a share, during the year-ago period. The company said it expects 2007 per-share pro forma earnings, including charges for employee long-term incentive compensation, of 66 cents to 76 cents on revenue of $1.035 billion to $1.055 billion.
CTS Corp. (NYSE:CTS - News) shares sank 12% after the company said it's continuing its probe of certain accounting issues. The Elkhart, Ind., maker of electronic components also lowered its outlook for the full year to earnings of 66 to 70 cents a share for fiscal 2006 from a previous projection for a profit of 74 to 77 cents a share. The company cited lower margins in its electronics manufacturing services business and the impact of incorrect accounting.
Curtiss-Wright (NYSE:CW - News) shares lost 8.2% after the company said it expects earnings of $2 to $2.10 per share in fiscal 2007 on revenue of between $1.37 billion and $1.4 billion. The current average estimate of analysts polled by Thomson First Call is for a profit of $2.14 a share in the period.
Energy Conversion Devices Inc. (NasdaqGS:ENER - News) shares sank 16% after the company reported a second-quarter net loss of $2.91 million, or 7 cents a share, compared with a net loss of $5.74 million, or 19 cents a share, during the year-ago period. Revenue reached $22.9 million vs. $24.3 million. Cowen & Co. downgraded the stock to neutral from outperform.
Gateway (NYSE:GTW - News) shares fell 9.8% after the company reported a fiscal fourth-quarter profit of $8.8 million, or 2 cents a share, compared to a loss of $20.9 million, or 5 cents a share, a year ago. Revenue slipped about 9%, to $1.02 billion from $1.124 billion in the year-ago quarter.
MasterCard (NYSE:MA - News) shares lost 9.7% after the company said it earned $40.9 million or 30 cents a share in the fourth quarter, compared to a loss of $52.9 million, or 39 cents a share a year ago. On an operating basis, the company said it earned 31 cents a share in the fourth quarter. Analysts polled by Thomson First Call had, on average, expected the company to earn 17 cents a share. Revenue in the quarter was $839.2 million, up 17% from $715.9 million a year ago, and ahead of the First Call estimate of $826.9 million. MasterCard also said it raised its quarterly dividend to 15 cents a share from 9 cents a share.
Omniture (NasdaqGM:OMTR - News) shares tumbled 18% after the company said its fourth-quarter net loss narrowed to $763,000, or 2 cents a share, from $7.2 million, or 52 cents a share, a year earlier, helped by the addition of more than 250 customers. Excluding items, the Orem, Utah, online business optimization software company's earnings were $900,000, or 2 cents a share. Revenue rose 71% to $23.5 million from $13.7 million a year earlier. Analysts polled by Thomson Financial expected, on average, earnings of a penny a share on revenue of $23.3 million. For the first quarter, the company expects a loss of 4 cents to 5 cents a share, or earnings of breakeven to a penny a share excluding items, on revenue of $26 million to $27 million. For the year, Omniture sees a loss of 13 cents to 15 cents a share, or earnings of 7 cents to 9 cents a share excluding items, on revenue of $128 million to $130 million. Analysts expect, on average, first-quarter earnings of 2 cents a share on revenue of $26.50, and full-year earnings of 17 cents on revenue of $125.9 million.
Silicon Image Inc. (NasdaqGS:SIMG - News) shares fell 14% after the company reported fourth-quarter net earnings of $26.3 million, or 29 cents a share, compared with $12.6 million, or 15 cents a share, in the same period last year. The company sees 2007 revenue of $340 million to $360 million.
Sirona Dental Systems (NasdaqGS:SIRO - News) shares lost 6.2% after the company said fiscal first-quarter earnings fell to $2.3 million, or 4 cents a share, from $3.3 million, or 9 cents a share, a year earlier. The results include a $21.1 million charge for the early extinguishment of debt and a $3.9 million gain from refinancing. Revenue increased 29% to $174.8 million from last year's $135.9 million.
Spectrum Brands (NYSE:SPC - News) shares fell 12% after the company was downgraded to underweight from neutral weight at Prudential Equity Group. The firm reduced its price target on the stock to $7 from $10.
Star Gas Partners (NYSE:SGU - News) shares fell 6.5% after the company said it swung to a fiscal first-quarter net income of $4.7 million, or 6 cents a share, while revenue dropped 20% to $330 million. Slightly higher selling prices were more than offset by a reduction in sales of home heating oil, the company said, while its profit was lifted by a lower charge for the change in fair value of derivative instruments, a reduction in net interest expense and lower depreciation and amortization expenses. The company also said its chief executive, Joseph Cavanaugh, will retire at the age of 70 on May 31, to be replaced by Dan Donovan, the company's president.
United Online (NasdaqGS:UNTD - News) shares lost 8.6% after the Woodland Hills, Calif., provider of Internet access services said it expects a "slight to moderate decline" in revenue for fiscal 2007 from 2006's total of $522.7 million.
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Labels: ACHN, BMC, BRC, CTS, CW, ELY, ENER, GTW, MA, OMTR, SGU, SIMG, SIRO, SPC, UNTD
posted by Stock Administrator @ 1:45 PM
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