Thursday's Biggest Advancers
Abiomed Inc. (NASDAQ:ABMD - News) said it has received 510(k) clearance from the Food and Drug Administration for its new intra-aortic balloon, a technology designed to enhance blood flow to the heart and other organs. The Danvers, Mass.-based medical product company said a combination console platform to support the balloon, the iPulse, is currently under regulatory review and pending approval. Abiomed expects to begin shipping its new integrated iPulse console outside the U.S. during fourth quarter. Following FDA approval of the pre-market application supplement to the existing console, Abiomed's initial introduction of the iPulse is expected in the summer of 2007.
Accenture (NYSE:ACN - News) reported first-quarter earnings of 46 cents a share, compared with 36 cents in the year-earlier period.
American Greetings Corp. (NYSE:AM - News) third-quarter net income rose to 83 cents a share from 19 cents in the year-earlier period. Net sales fell to $512.2 million from $552 million. Analysts, on average, expected it to earn 35 cents on revenue of $516 million. For fiscal 2007, the company still expected to earn 80 cents to $1 a share. Analysts polled by Thomson First Call expect it to earn 81 cents a share for the year.
Anika Therapeutics Inc. (NASDAQ:ANIK - News) said it obtained FDA approval for its cosmetic tissue augmentation. Anika said the product is an injectable soft-tissue filler for facial wrinkles, scar remediation and lip augmentation.
Best Buy Co. (NYSE:BBY - News) was upgraded to outperform from neutral by Credit Suisse analyst Gary Balter, on the belief that investors overreacted to third-quarter results, which fell shy of expectations.
Bristol-Myers Squibb Co. (NYSE:BMY - News) said it's reached an initial agreement with the U.S. Department of Justice and the Office of the U.S. Attorney for the District of Mass. to settle several probes of its drug pricing, sales and marketing practices. In a statement, the drug company said it will pay $499 million and enter a corporate integrity agreement with the Department of Health and Human Services. The deal is not yet final and must be approved by the U.S. Department of Justice. Bristol-Myers said it's raising the reserves set aside to cover the cost of the probes by $353 million, to be recorded in the fourth quarter. The company said it expects to take a $220 million pre-tax charge in the fourth quarter. The company now expects 2006 earnings to range from 72 to 77 cents, down from a prior outlook of 97 cents to $1.02. Excluding special items, it's still expecting earnings of $1.02 to $1.07, however.
Carnival Corp. (NYSE:CCL - News) said fourth-quarter earnings rose to $416 million, or 51 cents a share, from $336 million, or 41 cents a share, a year earlier. Revenue increased 9.2% to $2.81 billion from last year's $2.57 billion, helped by 5.5% growth in cruise capacity and a 2.3% rise in net revenue yields. Analysts surveyed by Thomson First Call had been expecting earnings of 47 cents a share and revenue of $2.79 billion, on average. Looking ahead, the Miami cruise operator said it expects first-quarter earnings of 33 to 35 cents a share, below analyst forecasts of 36 cents a share. Revenue yields are projected to be flat to up slightly, while net cruise costs are expected to rise between 2% and 3%.
Chubb Corp. (NYSE:CB - News) said it'll pay $17 million as part of a settlement with the attorneys general of New York, Connecticut and Illinois, resolving all issues arising out of investigations of property-casualty insurance bid rigging. Chubb has agreed to contribute $15 million to a settlement fund set up for customers and make a $2 million payment for costs of the investigation. Chubb said it will discontinue paying contingent commissions on all U.S. insurance lines beginning in 2007, replacing them with a supplemental compensation program.
Coastal Financial (NASDAQ:CFCP - News) shares surged after BB&T Corp. (NYSE:BBT - News) said it has agreed to buy the company in a deal valued at $394.6 million. Winston-Salem, N.C.-based BB&T said it will pay 0.385 shares for each Coastal Financial share, equal to $17.04 a share based on BB&T's closing price Wednesday. The deal is expected to close in the second quarter.
ConAgra Foods Inc. (NYSE:CAG - News) second-quarter profit rose to 43 cents a share from 29 cents in the year-earlier period. Excluding profit from discontinued operations, earnings came to 40 cents a share. Analysts' average estimate stood at 33 cents, according to Thomson First Call. Sales rose 2.9% to $3.09 billion, ahead of analysts' view for $3.02 billion. The Omaha, Neb., packaged-food company raised its full-year outlook, excluding items, to a range of $1.28 to $1.33 a share, up from a prior target of $1.15 to $1.20. Analysts' estimate stands at $1.25 a share.
Delta Air Lines Inc.'s (Other OTC:DALRQ.PK - News) official creditors' committee said it supported the carrier's decision to file its proposed reorganization plan, but said the committee "will continue to consider potential alternatives in order to maximize the ultimate recoveries for the unsecured creditors in the Delta bankruptcy."
Finish Line Inc. (NASDAQ:FINL - News) said it swung to a third-quarter net loss of 6 cents a share from net income of 2 cents a share in the year-earlier period.
General Mills (NYSE:GIS - News) second-quarter earnings rose $1.08 a share from 97 cents in the year-earlier period. Revenue increased to $3.47 billion from $3.29 billion, with unit volume growing 3%. Analysts surveyed by Thomson First Call had been expecting earnings of $1.03 a share and revenue of $3.42 billion, on average. Looking ahead, the Minneapolis packaged foods company raised its fiscal 2007 earnings forecast to $3.09 to $3.13 a share from $3.03 to $3.08 a share.
Herman Miller Inc. (NASDAQ:MLHR - News) reported second-quarter earnings of 56 cents a share, compared with 40 cents in the year-earlier period, on the back of record-high orders.
Horizon Health (NASDAQ:HORC - News) shares rose after Psychiatric Solutions said it'll pay $20 a share in cash to buy the Lewisville, Texas owner of behavioral health facilities, a 24% premium over its $16.13 closing price on Wednesday. Psychiatric Solutions, (NASDAQ:PSYS - News)a Franklin, Tenn. operator of 74 owned or leased psychiatric facilities, expects the purchase to add 17 to 20 cents a share to its net income.
LifePoint Hospitals (NASDAQ:LPNT - News) was upgraded to buy from hold at Stifel Nicolaus, which cited valuation and comfort with the company's bad debt levels.
National HealthCare Corp. (AMEX:NHC - News) and National Health Realty Inc. (AMEX:NHR - News) have agreed on a merger, the companies said. Terms call for each outstanding National Health Realty common share to be converted into one share of National HealthCare Series A convertible preferred stock plus $9 in cash, and National Health Realty shareholders will receive a special dividend for the period from Jan. 1 until the deal closes, which is expected to happen in the second quarter of 2007. Each preferred share will entitle the holder to annual preferred dividends of 80 cents a share and will have a liquidation preference of $15.75. Murfreesboro, Tenn.-based National HealthCare spun off National Health Realty as a real-estate investment trust in 1997.
Nike Inc. (NYSE:NKE - News) fiscal second-quarter profit rose to $1.28 a share from $1.14 in the year-earlier period.
Paychex Inc. (NASDAQ:PAYX - News) reported second-quarter earnings of 35 cents a share, compared with 30 cents in the year-earlier period, on the back of strong revenue from its human-resource-services segment.
Pointer Telocation Ltd. (NASDAQ:PNTR - News) lifted its estimate of 2006 operating profit to a range of $4.8 million to $5.2 million from a previous estimate of $3.5 million. Revenue should range $41.3 million to $42.1 million compared with a previous estimate of $40 million, Pointer said in a statement. The company also estimated 2007 operating profit at $4.5 million to $5.6 million on revenue of $46 million to $47.5 million. The company said it expects the increases as it acquires companies in areas it serves, expands to new territories, and broadens its service offerings in each territory. The estimates exclude the impact of potential acquisitions, "although we believe such transactions will materialize," Pointer Chief Executive Danny Stern said in the statement.
Praecis Pharmaceuticals (NASDAQ:PRCS - News) shares rocketed up after GlaxoSmithKline said it's agreed to buy the company $54.8 million, or $5 a share in cash.
Raytheon Co. (NYSE:RTN - News)confirmed it's agreed to sell its aircraft-making unit to Goldman Sachs Capital Partners (NYSE:GS - News) and Onex Partners for $3.3 billion. It plans to buy back $750 million in stock and retire $1 billion in debt. It expects earnings from continuing operations of $2.35 to $2.45 a share in 2006 on sales between $20 billion and $20.5 billion, and $2.75 to $2.90 a share on revenue between $21.3 billion and $21.8 billion in 2007. It previously forecast 2006 earnings from continuing operations between $2.70 and $2.80 on sales between $23.1 billion to $23.6 billion, and earnings of $2.95 to $3.05 a share from continuing operations on revenue of $24.6 billion to $25.1 billion in 2007.
Repros Therapeutics Inc. (NASDAQ:RPRX - News) said that interim results of a U.S. phase 2 study of Proellex, an oral drug being developed to relieve symptoms of uterine fibroids, suggest that treatment with Proellex results in a statistically highly significant improvement in multiple symptoms. The company has closed enrollment in the trial at 128 patients.
Rite Aid Corp. (NYSE:RAD - News) reported third-quarter net income of $1.1 million, but posted a loss of 1 cent on a per share basis, after paying out a preferred stock dividend. Revenue for the three months ended Dec. 2 rose to $4.32 billion from $4.15 billion. Analysts, on average, expected it to lose 2 cents a share on revenue of $4.28 billion, according to Thomson First Call. Same-store sales, or sales at stores open at least one year rose 3.4% during the third quarter, consisting of a 4.3% increase in pharmacy same-store sales and a 1.9% increase in front-end same-store sales. The number of prescriptions filled in comparable drugstores increased 2.3%. Prescription sales accounted for 64.3% of total sales, and third party prescription sales represented 95.5% of pharmacy sales. Rite Aid backed its fiscal 2007 forecast. Sales are expected to be between $17.4 billion and $17.65 billion, with same-store sales expected to improve 2% to 4%. It expects to post between a net loss of 7 cents a share to net income 2 cents.
Siemens AG's (NYSE:SI - News) Medical Solutions unit said it will begin clinical trials under an investigational new-drug application submitted to the Food and Drug Administration for an imaging biomarker that could potentially identify Alzheimer's disease prior to the onset of noticeable symptoms.
Sky Financial Group Inc. shares surged after the Bowling Green, Ohio-based company and Huntington Bancshares Inc. (NASDAQ:HBAN - News) late Wednesday agreed to a merger valued at $3.6 billion
SkyWest Inc. (NASDAQ:SKYW - News) said Midwest Airlines had chosen SkyWest Airlines to fly up to 25 regional jets. The first 15 aircraft are scheduled for delivery in April 2007 and will come from SkyWest's current CRJ200 fleet. SkyWest, based in St. George, Utah, flies connecting routes for United Airlines and Delta Air Lines .
Smith & Nephew (NYSE:SNN - News) shares rose in London after a report suggested that the private-equity group that has just acquired Biomet (NASDAQ:BMET - News) might have its sights set on Smith & Nephew as well.
Tower Semiconductor, (NASDAQ:TSEM - News) said the board nominated Dov Moran chairman. Moran is co-founder and was chairman and chief executive of M-systems Ltd., the flash-memory developer that was recently acquired by SanDisk. (NASDAQ:SNDK - News)Moran succeeds Udi Hillman, who continues as a director of Tower.
-MarketWatch
Accenture (NYSE:ACN - News) reported first-quarter earnings of 46 cents a share, compared with 36 cents in the year-earlier period.
American Greetings Corp. (NYSE:AM - News) third-quarter net income rose to 83 cents a share from 19 cents in the year-earlier period. Net sales fell to $512.2 million from $552 million. Analysts, on average, expected it to earn 35 cents on revenue of $516 million. For fiscal 2007, the company still expected to earn 80 cents to $1 a share. Analysts polled by Thomson First Call expect it to earn 81 cents a share for the year.
Anika Therapeutics Inc. (NASDAQ:ANIK - News) said it obtained FDA approval for its cosmetic tissue augmentation. Anika said the product is an injectable soft-tissue filler for facial wrinkles, scar remediation and lip augmentation.
Best Buy Co. (NYSE:BBY - News) was upgraded to outperform from neutral by Credit Suisse analyst Gary Balter, on the belief that investors overreacted to third-quarter results, which fell shy of expectations.
Bristol-Myers Squibb Co. (NYSE:BMY - News) said it's reached an initial agreement with the U.S. Department of Justice and the Office of the U.S. Attorney for the District of Mass. to settle several probes of its drug pricing, sales and marketing practices. In a statement, the drug company said it will pay $499 million and enter a corporate integrity agreement with the Department of Health and Human Services. The deal is not yet final and must be approved by the U.S. Department of Justice. Bristol-Myers said it's raising the reserves set aside to cover the cost of the probes by $353 million, to be recorded in the fourth quarter. The company said it expects to take a $220 million pre-tax charge in the fourth quarter. The company now expects 2006 earnings to range from 72 to 77 cents, down from a prior outlook of 97 cents to $1.02. Excluding special items, it's still expecting earnings of $1.02 to $1.07, however.
Carnival Corp. (NYSE:CCL - News) said fourth-quarter earnings rose to $416 million, or 51 cents a share, from $336 million, or 41 cents a share, a year earlier. Revenue increased 9.2% to $2.81 billion from last year's $2.57 billion, helped by 5.5% growth in cruise capacity and a 2.3% rise in net revenue yields. Analysts surveyed by Thomson First Call had been expecting earnings of 47 cents a share and revenue of $2.79 billion, on average. Looking ahead, the Miami cruise operator said it expects first-quarter earnings of 33 to 35 cents a share, below analyst forecasts of 36 cents a share. Revenue yields are projected to be flat to up slightly, while net cruise costs are expected to rise between 2% and 3%.
Chubb Corp. (NYSE:CB - News) said it'll pay $17 million as part of a settlement with the attorneys general of New York, Connecticut and Illinois, resolving all issues arising out of investigations of property-casualty insurance bid rigging. Chubb has agreed to contribute $15 million to a settlement fund set up for customers and make a $2 million payment for costs of the investigation. Chubb said it will discontinue paying contingent commissions on all U.S. insurance lines beginning in 2007, replacing them with a supplemental compensation program.
Coastal Financial (NASDAQ:CFCP - News) shares surged after BB&T Corp. (NYSE:BBT - News) said it has agreed to buy the company in a deal valued at $394.6 million. Winston-Salem, N.C.-based BB&T said it will pay 0.385 shares for each Coastal Financial share, equal to $17.04 a share based on BB&T's closing price Wednesday. The deal is expected to close in the second quarter.
ConAgra Foods Inc. (NYSE:CAG - News) second-quarter profit rose to 43 cents a share from 29 cents in the year-earlier period. Excluding profit from discontinued operations, earnings came to 40 cents a share. Analysts' average estimate stood at 33 cents, according to Thomson First Call. Sales rose 2.9% to $3.09 billion, ahead of analysts' view for $3.02 billion. The Omaha, Neb., packaged-food company raised its full-year outlook, excluding items, to a range of $1.28 to $1.33 a share, up from a prior target of $1.15 to $1.20. Analysts' estimate stands at $1.25 a share.
Delta Air Lines Inc.'s (Other OTC:DALRQ.PK - News) official creditors' committee said it supported the carrier's decision to file its proposed reorganization plan, but said the committee "will continue to consider potential alternatives in order to maximize the ultimate recoveries for the unsecured creditors in the Delta bankruptcy."
Finish Line Inc. (NASDAQ:FINL - News) said it swung to a third-quarter net loss of 6 cents a share from net income of 2 cents a share in the year-earlier period.
General Mills (NYSE:GIS - News) second-quarter earnings rose $1.08 a share from 97 cents in the year-earlier period. Revenue increased to $3.47 billion from $3.29 billion, with unit volume growing 3%. Analysts surveyed by Thomson First Call had been expecting earnings of $1.03 a share and revenue of $3.42 billion, on average. Looking ahead, the Minneapolis packaged foods company raised its fiscal 2007 earnings forecast to $3.09 to $3.13 a share from $3.03 to $3.08 a share.
Herman Miller Inc. (NASDAQ:MLHR - News) reported second-quarter earnings of 56 cents a share, compared with 40 cents in the year-earlier period, on the back of record-high orders.
Horizon Health (NASDAQ:HORC - News) shares rose after Psychiatric Solutions said it'll pay $20 a share in cash to buy the Lewisville, Texas owner of behavioral health facilities, a 24% premium over its $16.13 closing price on Wednesday. Psychiatric Solutions, (NASDAQ:PSYS - News)a Franklin, Tenn. operator of 74 owned or leased psychiatric facilities, expects the purchase to add 17 to 20 cents a share to its net income.
LifePoint Hospitals (NASDAQ:LPNT - News) was upgraded to buy from hold at Stifel Nicolaus, which cited valuation and comfort with the company's bad debt levels.
National HealthCare Corp. (AMEX:NHC - News) and National Health Realty Inc. (AMEX:NHR - News) have agreed on a merger, the companies said. Terms call for each outstanding National Health Realty common share to be converted into one share of National HealthCare Series A convertible preferred stock plus $9 in cash, and National Health Realty shareholders will receive a special dividend for the period from Jan. 1 until the deal closes, which is expected to happen in the second quarter of 2007. Each preferred share will entitle the holder to annual preferred dividends of 80 cents a share and will have a liquidation preference of $15.75. Murfreesboro, Tenn.-based National HealthCare spun off National Health Realty as a real-estate investment trust in 1997.
Nike Inc. (NYSE:NKE - News) fiscal second-quarter profit rose to $1.28 a share from $1.14 in the year-earlier period.
Paychex Inc. (NASDAQ:PAYX - News) reported second-quarter earnings of 35 cents a share, compared with 30 cents in the year-earlier period, on the back of strong revenue from its human-resource-services segment.
Pointer Telocation Ltd. (NASDAQ:PNTR - News) lifted its estimate of 2006 operating profit to a range of $4.8 million to $5.2 million from a previous estimate of $3.5 million. Revenue should range $41.3 million to $42.1 million compared with a previous estimate of $40 million, Pointer said in a statement. The company also estimated 2007 operating profit at $4.5 million to $5.6 million on revenue of $46 million to $47.5 million. The company said it expects the increases as it acquires companies in areas it serves, expands to new territories, and broadens its service offerings in each territory. The estimates exclude the impact of potential acquisitions, "although we believe such transactions will materialize," Pointer Chief Executive Danny Stern said in the statement.
Praecis Pharmaceuticals (NASDAQ:PRCS - News) shares rocketed up after GlaxoSmithKline said it's agreed to buy the company $54.8 million, or $5 a share in cash.
Raytheon Co. (NYSE:RTN - News)confirmed it's agreed to sell its aircraft-making unit to Goldman Sachs Capital Partners (NYSE:GS - News) and Onex Partners for $3.3 billion. It plans to buy back $750 million in stock and retire $1 billion in debt. It expects earnings from continuing operations of $2.35 to $2.45 a share in 2006 on sales between $20 billion and $20.5 billion, and $2.75 to $2.90 a share on revenue between $21.3 billion and $21.8 billion in 2007. It previously forecast 2006 earnings from continuing operations between $2.70 and $2.80 on sales between $23.1 billion to $23.6 billion, and earnings of $2.95 to $3.05 a share from continuing operations on revenue of $24.6 billion to $25.1 billion in 2007.
Repros Therapeutics Inc. (NASDAQ:RPRX - News) said that interim results of a U.S. phase 2 study of Proellex, an oral drug being developed to relieve symptoms of uterine fibroids, suggest that treatment with Proellex results in a statistically highly significant improvement in multiple symptoms. The company has closed enrollment in the trial at 128 patients.
Rite Aid Corp. (NYSE:RAD - News) reported third-quarter net income of $1.1 million, but posted a loss of 1 cent on a per share basis, after paying out a preferred stock dividend. Revenue for the three months ended Dec. 2 rose to $4.32 billion from $4.15 billion. Analysts, on average, expected it to lose 2 cents a share on revenue of $4.28 billion, according to Thomson First Call. Same-store sales, or sales at stores open at least one year rose 3.4% during the third quarter, consisting of a 4.3% increase in pharmacy same-store sales and a 1.9% increase in front-end same-store sales. The number of prescriptions filled in comparable drugstores increased 2.3%. Prescription sales accounted for 64.3% of total sales, and third party prescription sales represented 95.5% of pharmacy sales. Rite Aid backed its fiscal 2007 forecast. Sales are expected to be between $17.4 billion and $17.65 billion, with same-store sales expected to improve 2% to 4%. It expects to post between a net loss of 7 cents a share to net income 2 cents.
Siemens AG's (NYSE:SI - News) Medical Solutions unit said it will begin clinical trials under an investigational new-drug application submitted to the Food and Drug Administration for an imaging biomarker that could potentially identify Alzheimer's disease prior to the onset of noticeable symptoms.
Sky Financial Group Inc. shares surged after the Bowling Green, Ohio-based company and Huntington Bancshares Inc. (NASDAQ:HBAN - News) late Wednesday agreed to a merger valued at $3.6 billion
SkyWest Inc. (NASDAQ:SKYW - News) said Midwest Airlines had chosen SkyWest Airlines to fly up to 25 regional jets. The first 15 aircraft are scheduled for delivery in April 2007 and will come from SkyWest's current CRJ200 fleet. SkyWest, based in St. George, Utah, flies connecting routes for United Airlines and Delta Air Lines .
Smith & Nephew (NYSE:SNN - News) shares rose in London after a report suggested that the private-equity group that has just acquired Biomet (NASDAQ:BMET - News) might have its sights set on Smith & Nephew as well.
Tower Semiconductor, (NASDAQ:TSEM - News) said the board nominated Dov Moran chairman. Moran is co-founder and was chairman and chief executive of M-systems Ltd., the flash-memory developer that was recently acquired by SanDisk. (NASDAQ:SNDK - News)Moran succeeds Udi Hillman, who continues as a director of Tower.
-MarketWatch
Labels: ABMD, ACN, ANIK, BBY, BMET, BMY, CAG, CCL, CFCP, FINL, GIS, GS, HORC, LPNT, MLHR, NKE, PAYX, PNTR, PSYS, RAD
posted by Stock Administrator @ 12:36 PM
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