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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Labels: ABC, ACAT, ADBE, AFFY, ALB, AME, ATI, CNLG, DNA, EMC, EZPW, GLW, HYSL, IDT, IDTI, INGN, LVLT, NATL, OSIS, PMTC

Agrium (NYSE:AGU - News) was downgraded to neutral from buy at UBS.
Alphatec Holdings Inc. (NASDAQ:ATEC - News) said President and Chief Executive Ronald Hiscock has left the company, along with Chief Administrative Officer Vicky Romanoski. The Carlsbad, Calif.-based spinal device manufacturer provided no reason for the departure of the two executives. John Foster, Alphatec's executive chairman, is assuming the position of president and CEO.
Altair Nanotechnologies (NASDAQ:ALTI - News) shares dropped after the company reached a deal with institutional investors to raise $23.15 million in net proceeds, after fees and expenses, in a "registered direct" offering through the sale of its common shares and warrants. The Canadian developer of nanomaterial and titanium dioxide pigment technologies said it has also entered into subscription agreements, and has agreed to sell 9.26 million units, with each unit consisting of one common share and one warrant to purchase one-fourth of a share. The transaction's closing is scheduled for Dec. 18.
Argon ST (NASDAQ:STST - News) shares fell after the Fairfax, Va.-based developer of systems and sensors for signals intelligence reported fourth-quarter net earnings of $4.1 million, or 18 cents a share, down from $6.06 million, or 29 cents a share, in the year-ago period. Revenue fell to $66.1 million from $83.7 million. Analysts polled by Thomson First Call had forecast a per-share profit of 30 cents on revenue of $90.8 million. The company forecast fiscal 2007 revenue of $305 million to $325 million, and income from operations of $36 million to $39 million.
Beacon Roofing Supply (NASDAQ:BECN - News) reported fourth-quarter net earnings of $14.6 million, or 32 cents a share, up from $10.4 million, or 25 cents a share, on the year-ago period. Revenue jumped to $431.3 million from $231.2 million. Analysts polled by Thomson First Call had forecast a per-share profit of 33 cents on revenue of $405.8 million. "Although we have seen a slowdown in our business since the fourth quarter, when adjusting for five fewer business days than in the first quarter of 2006, our sales continued to grow slightly in the first quarter of fiscal year 2007 through November compared to the first quarter of 2006, considering that there has been no price inflation," said Robert Buck, president and chief executive, in a statement. "As a result, we are optimistic about 2007 and excited about our future."
Cal Dive (NYSE:DVR - News) shares fell in the company's stock market debut.
Chordiant (NASDAQ:CHRD - News) said it expects a fourth-quarter net loss of $8.4 million, and a loss of $7.1 million excluding stock-based compensation. The software company said it sees quarterly revenue of $21.7 million, up 2% from the same period in the prior year, while Wall Street is looking for $27 million.
Shares in EMI Group PLC plunged as the company confirmed that takeover talks with an unnamed bidder had ceased.
Shares of Encysive Pharmaceuticals (NASDAQ:ENCY - News) retreated as it emerged that the Food and Drug Administration still isn't satisfied with the company's application to market a prospective pulmonary drug.
Forest Laboratories (NYSE:FRX - News) agreed to buy privately-held Cerexa for $480 million in cash. Cerexa's lead compound, a broad-spectrum injectable antibiotic called ceftaroline acetate, is slated to begin Phase III clinical testing during the first quarter 2007. Forest said the drug could be on the market as early as 2010, if approved. As a result of the transaction, Forest plans to take a one-time after-tax charge of about 96 cents a share. Excluding the one-time after-tax charge, Forest said it still sees fiscal 2007 earnings per share coming in between $2.60 and $2.65. The deal is expected to close in Forest's fiscal fourth quarter.
Geron Corp. (NASDAQ:GERN - News) said it's agreed to sell common stock to institutional investors in a deal expected to yield gross proceeds of $40 million. The Menlo Park, Calif., biopharmaceutical company is selling the stock at $8 per share, compared to Wednesday's closing price at $9.34. The deal includes an over-allotment option for the sale of an additional $15 million worth of common stock at the same price per share, as well as longer term warrants, exercisable after 180 days, for the purchase of three million shares at an unspecified premium. Geron plans to use the proceeds to fund clinical trials and for regulatory activities.
Introgen Therapeutics Inc. (NASDAQ:INGN - News) said it has offered 4.99 million shares of its common stock. The Austin, Texas-based biopharmaceutical company said it expects to receive gross proceeds of about $24 million. Introgen said it expects to use net proceeds from the offering primarily for working capital and other general corporate purposes, including the development of its clinical programs which include Advexin, INGN 241 and its other programs.
Lehman Brothers (NYSE:LEH - News) said record investment-banking revenue helped propel fourth-quarter profit higher by 22%, surpassing Wall Street estimates, but earnings growth lagged rivals the record results from Goldman Sachs and Bear Stearns earlier this week.
Magellan Health Services (NASDAQ:MGLN - News) announced its financial guidance for fiscal 2007. The group said it sees earnings in the range of $1.67 to $2.04 a share on sales of $2.05 billion to $2.15 billion. Chief Executive Steven Shulman said the outlook reflects the group's view of the coming year as one of transition.
Netflix (NASDAQ:NFLX - News) was initiated with a sell rating at Banc of America Securities with a price target of $24.
Obagi Medical Products (NASDAQ:OMPI - News) shares fell in the company's initial public offering.
Pier 1 Imports Inc. (NYSE:PIR - News) posted a wider third-quarter loss, hurt by increased markdowns and higher marketing costs, but said sales of holiday merchandise have been encouraging.
Smith Micro Software (NASDAQ:SMSI - News) priced an offering of 4.5 million shares at $14.75 per share. The company has granted the underwriters an option to purchase up to an extra 675,000 shares to cover any over-allotments.
United Rentals (NYSE:URI - News) was downgraded to neutral from buy at UBS.
United Technologies (NYSE:UTX - News) backed its 2006 earnings outlook of $3.68 to $3.69 a share. Analysts polled by Thomson First call expect per-share earnings of $3.69. United Technologies also said its board approved a share repurchase program for up to 60 million shares worth about $4 billion at current prices.
Winnebago Industries Inc. (NYSE:WGO - News) said first-quarter net income for the three months ended Nov. 25 fell to $7.9 million, or 25 cents a share, from $14.6 million, or 44 cents a share in the year-ago period. Revenue dropped 13% to $201.8 million. Analysts surveyed by Thomson First Call forecast earnings of 31 cents a share and revenue of $210 million, on average. "While we remained solidly profitable, the motor home market continues to be challenging," said Winnebago Chairman and CEO Bruce Hertzke. "The first quarter of fiscal 2007 was negatively impacted by lower motor home deliveries, particularly of higher priced models in all of our product classes." The company said market conditions remain challenging. The Forest City, Iowa company also cited reluctance by dealers to increase inventory during the winter.

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