Movers: Kraft, SAP, Pool Corp., Datalink
Pool Corp. (POOL)
Cuts $2.00-$2.10 2007 EPS view to $1.75-$1.85... The company says daily sales rate did not increase as expected in June primarily due to greater-than-projected decrease in new pool construction, adverse weather in certain markets.
Kraft Foods (KFT)
Makes binding offer to acquire global biscuit business of Groupe Danone (DA) for €5.3B ($7.2B) in cash.
SAP AG (SAP)
Acknowledges some inappropriate downloads from Oracle's (ORCL) Web site occurred at its TomorrowNow unit... The company says US Dept. of Justice requested SAP, TomorrowNow provide certain documents.
Datalink Corp. (DTLK)
Sees lower-than-expected second quarter revenue of $40M-$41M, 3 cents-$0.05 GAAP loss... Notes slowdown in IT, storage spending with some of its larger customers.
Thomas & Betts (TNB)
Agrees to purchase Danaher Corp.'s power quality business for cash purchase price of approximately $280 million, subject to post-closing adjustments.
Anaren Inc. (ANEN)
The company says that as result of control deficiencies at co.'s Suzhou, China unit, pretax income was overstated for both 6 mos, second quarter ended 12/31/06, for 9 mos, third quarter, ended 3/31/07... These results should no longer be relied upon.
UAP Holding (UAPH)
Posted $1.66 vs. $1.11 first quarter EPS on 15% sales down... Sees $1.60-$1.75 fiscal 08 EPS, which below current consensus.
Avanir Pharmaceutical (AVNR)
To sell its currently marketed antipsychotic drug FazaClo to Azur Pharma... Avanir will receive $42M at close of deal, with up to an additional $10M in contingent payments in 2009, plus up to $2M in royalties.
Autonomy Corp. (AUTNF)
Expects to report record second quarter 2007 results, with revenues, profit before tax significantly ahead of consensus estimates, ahead of top end of analysts' forecasts... Separately, to acquire Zantaz Inc. for $375 million.
Continental Airlines (CAL)
Announces June consolidated load factor of 85.7%, 1.2 points above the June, 2006, number; consolidated passenger revenue per available seat mile rose 1.5%-2.5% from June 2006.
Bill Barrett (BBG)
To be added to S&P MidCap 400 after close of trading on July 6, replacing Laureate Education, which is being acquired.
American Capital Strategies (ACAS)
To be added to S&P 500 after the close of trading on July 6, replacing Dollar General Corp., which is being acquired.
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