Asiainfo Holdings (NASDAQ:
ASIA -
News) shares fell 7% after it agreed to sell its financial services IT business to Fidelity National Information Services . AsiaInfo said it will receive an initial $1.5 million, with further payments of up to $1.75 million, depending on the division's performance. AsiaInfo said it is selling the division as part of its ongoing strategy to focus on its core telecommunications business.
Celestica Inc. (NYSE:
CLS -
News) shares slumped 12% after it said it expects between breakeven results and a profit of 6 cents a share on an adjusted basis for the fourth quarter ending Dec. 31 on revenue of between $2.20 billion and $2.25 billion. This view is below the company's previous forecast for adjusted earnings of 15 to 23 cents a share in the quarter on revenue of $2.25 billion to $2.45 billion. The current average estimate of analysts polled by Thomson First Call is for a profit of 19 cents a share in the December period on revenue of $2.21 billion. The Toronto-based provider of electronics manufacturing services attributed the lower outlook to demand reductions from several customers. It added that the revised adjusted earnings view includes a charge of 8 to 12 cents a share related to an increase in inventory provisions at its Monterrey, Mexico facility.
Columbus McKinnon (NASDAQ:
CMCO -
News) shares dropped 5.4% after it was initiated with a neutral rating at Sidoti & Co.
Continental Airlines (NYSE:
CAL -
News) shares declined 5.6% after it said it estimates a 6% total rise in capacity, or available seat miles, in the fourth quarter, compared to the same period a year ago. The Houston-based company forecasts a fourth-quarter domestic load factor, or the ratio of seats filled with paying passengers, of 83% to 84%, and an overall load factor of 79% to 80%. In a federal filing, Continental added that its fourth-quarter consolidated cost per available seat mile, an industry measure of operating expenses, would be 11.44 to 11.49 cents; its profit-sharing pool had grown to $106 million; and that its mainline advanced booked seats for the next six weeks would be flat compared to last year. December total revenue is expected to increase between 1% and 3%.
Cooper Cos. (NYSE:
COO -
News) shares fell 6.1% after it was downgraded to underperform from peer perform at Bear Stearns.
Delta Petroleum Corp. (NASDAQ:
DPTR -
News) shares fell 7.6% after it was downgraded to hold from buy at A.G. Edwards.
Endwave Corp. (NASDAQ:
ENWV -
News) shares dropped 15% after it said it has lowered its fourth-quarter revenue outlook to $10 million to $12 million. As a result, the Sunnyvale, Calif.-based maker of radio frequency modules now sees 2006 revenue growth of 20% to 25%, down from its prior view of 35%.
Indevus Pharmaceuticals (NASDAQ:
IDEV -
News) shares slipped 8.8% after it agreed to acquire Valera Pharmaceuticals (NASDAQ:
VLRX -
News) in a move to boost its presence in the urology and men's health category and leverage its national sales force. The deal is valued at about $7.75 a share in stock, or about $120 million, plus payments of up to $3.50 a share based on product milestones. Valera shares last traded at $5.41 a share. Upon completion of the deal and subject to the approval of the Indevus board, James Gale, Valera's chairman and chief investment officer of the Corporate Opportunities Funds and Life Sciences Opportunities Fund, affiliates of Sanders Morris Harris, will join the Indevus board. Sanders Morris Harris is currently the largest shareholder of Valera. Separately, Indevus and Valera have entered into a co-promotion agreement under which Indevus' sales force will co-promote Valera's prostate cancer drug Vantas in the U.S.
Matrixx Initiatives (NASDAQ:
MTXX -
News) shares declined 12% after it said it doesn't expect sales and net income to reach the lower end of its previously disclosed outlook for 2006 due to a slow start to the cold season. The Phoenix-based maker of the Zicam and Nasal Comfort cough and cold products said the overall season-to-date incidence level is about 3% below last year, which is hurting net sales growth.
Nucor Corp. (NYSE:
NUE -
News) shares fell 7.4% after it said it expects fourth-quarter earnings in a range of $1.05 to $1.15 a share, compared with $1.09 a year earlier. The average earnings estimate of 15 analysts surveyed by Thomson First Call is $1.44 a share. Nucor, a Charlotte, N.C., steel company, said its forecast for the fourth quarter ending Dec. 31 is "historically strong" but is below third-quarter earnings of $1.68 a share.
Source Interlink Cos. (NASDAQ:
SORC -
News) shares fell 9% after it reported third-quarter net earnings of $4.83 million, or 9 cents a share, compared with $6.08 million, or 11 cents a share, in the same period last year, as expenses rose.
Spartech Corp. (NYSE:
SEH -
News) shares declined 16% after it reported fourth-quarter net earnings of $8.62 million, or 27 cents a share, compared with $5.16 million, or 16 cents a share, in the same period last year, on the back of stronger sales related to demand after Hurricanes Katrina and Rita.
-MarketWatch
Labels: ASIA, CAL, CLS, CMCO, COO, DPTR, ENWV, Hot Stocks, IDEV, MTXX, NUE, SEH, SORC, VLRX
