Plus more stocks making headlines Friday
From Standard & Poor's Equity ResearchORACLE CORP. (ORCL)
Up 0.92 to 21.96
The company posted 16 cents vs. 13 cents first quarter GAAP EPS on 26% rise in revenue. Reportedly expects second quarter sales grow of 18%-21%, EPS of 19 cents-$0.21. S&P ups estimates, target, reiterates strong buy. CIBC World, Citigroup raise estimates.
HARMAN INTERNATIONAL INDUSTRIES, INC. (HAR)
Down 23.65 to 88.60
WSJ reports that, amid a credit crunch and lackluster finl results from HAR, Mr. Kravis and other investors involved in the HAR leveraged buyout deal have soured on the transaction. S&P believes most likely outcome is a renegotiated agreement, upgrades to buy from hold.
TEXAS INSTRUMENTS INC. (TXN)
Up 1.14 to 36.91
Raises its quarterly dividend by 25% to 10 cents. Sets additional $5 billion stock buyback. S&P reiterates strong buy. Lehman reiterates overweight.
MITSUBISHI UFJ FINANCIAL GROUP, INC. (MTU)
Down 0.63 to 8.29
S&P says MTU announces it may have to revalue its securities holdings at a significantly lower price because of credit market turmoil. Downgrades to sell from hold.
POOL CORP. (POOL)
Down 3.23 to 24.86
Cuts 2007 EPS guidance to $1.45-$1.55 from $1.75-$1.85. Cites current real estate market pressures and the resulting impact on new pool construction. S&P cuts estimate, target, keeps hold. Wedbush downgrades to hold from buy.
ADVANCE AMERICA, CASH ADVANCE CENTERS, INC. (AEA)
Down 0.81 to 10.68
To close 31 centers in Pennsylvania, 45 centers in Oregon, as well as 27 underperforming centers in various other states. Sees $4.6M in closing costs.
MOSAIC COMPANY (THE) (MOS)
Up 2.92 to 50.34
Citigroup upgrades MOS to hold from sell. The company reiterates buy on AGU, CF, TRA. MOS unavailable.
SONIC SOLUTIONS (SNIC)
Up 1.79 to 9.58
Canaccord Adams reportedly upgrades SNIC to buy from hold.
SAVIENT PHARMACEUTICALS, INC. (SVNT)
Up 0.77 to 14.02
Cowen initiates coverage with outperform. the company unavailable.
HANDHELD ENTERTAINMENT, INC. (ZVUE)
Up 1.01 to 2.74
Co. named the fastest growing Web property by comScore Media Metrix for Aug. 2007. comScore reported that ZVUE had the largest increase in unique visitors (U.S.) by 327% m/m from July 2007 to Aug 2007.
PERFICIENT, INC. (PRFT)
Down 1.62 to 22.84
Acquires BoldTech Systems Inc. for about $20.8 million (excl. transaction costs) in equal amounts of cash and stock.
RTW, INC. RTWI Up 3.89 to 11.99 Agrees to be acquired by Rockhill Holding the company for $12.45 per share in cash. Deal is valued at about $67.6 million.
FAMILY DOLLAR STORES, INC. (FDO)
Down 1.07 to 27.22
JP Morgan downgrades to underweight from neutral. the company unavailable.
DIAMOND FOODS, INC. (DMND)
Up 1.20 to 17.84
The company posted better-than-expected 5 cents vs. 21 cents Q4 non-GAAP EPS despite 4.9% revenue rise. Sees 42 cents-$0.48 first quarter non-GAAP EPS on $170M-$180M sales, 80 cents-$0.90 fiscal 08 non-GAAP EPS. Boosts quarterly dividend 50%. BB&T Capital upgrades to buy.
TRANSMETA CORP. (TMTA)
Down 1.22 to 6.33
To sell securities to selected institutional investors for an aggregate price of $12.8M, which includes up to 2M TMTA shares, warrants to purchase up to 1M TMTA shares.
PNM RESOURCES, INC. (PNM)
Up 0.68 to 22.27
Jefferies upgrades to buy from hold. the company unavailable.
MAXYGEN, INC. (MAXY)
Down 1.15 to 7.09
ROCHE advises MAXY that it has voluntarily placed a hold on further clinical development of MAXY-alpha, also known as R7025, MAXY's interferon-alpha for treatment of Hepatitis C and Hepatitis B virus infections, which it licensed to Roche. S&P maintains hold.
OPTIUM CORPORATION (OPTM)
Up 2.07 to 9.29
The company posted better-than-expected 5 cents vs. 8 cents Q4 GAAP EPS despite 17% revenue rise. Expects first quarter revenues to be in the range of $34M-$35M, indicating sequential growth of 27% to 31%. Needham raises target to $13 from $11.
3COM CORP. (COMS)
Down 0.19 to 3.55
The company posted 5 cents first quarter GAAP loss vs. 4 cents loss as higher operating expenses offset 6.4% revenue rise. S&P maintains hold, trims target. UBS Financial cuts target.
CHINA GRENTECH CORP. LTD. (GRRF)
Up 0.45 to 8.60
Sets $8M buyback of its ADSs.
IHS INC. (IHS)
Up 4.46 to 56.81
The company posted 35 cents vs. 28 cents third quarter EPS on 31% revenue rise. Sees better-than-expected fiscal 07 total revenue growth of 22%-24%, adjusted EBITDA growth of 35%-37%. S&P reiterates buy.
TEKTRONIX, INC. (TEK)
Down 2.29 to 30.01
The company posted 40 cents vs. 35 cents first quarter EPS from cont. ops (excl. items) on 8.7% sales rise. But orders fell 5%, primarily due to decline in Japan region, which was impacted by order policy changes, some economic uncertainty. Sees $38-$0.42 second quarter EPS on sales of $270M-$280M (vs. first quarter's $291.5M). S&P cuts estimates, target. Goldman cuts estimates.
STORA ENSO OYJ (SEO)
Up 0.87 to 19.14
NEWPAGE HOLDING CORP. to acquire SEO's paper manufacturing operations in North America for $1.5B in cash, a $200M note, and a 19.9% equity interest in the new company, which will retain the name NewPage.