Movers: Navistar, YRC Worldwide, Micron Technology
YRC WORLDWIDE, INC. (YRCW)
Says it in talks with its banking group to modify certain terms of its credit facilities. Terminates its tender offer that expired at midnight on Dec. 23, since the proposed wage reduction amendment to National Master Freight Agreement, which was a condition of the tender offer, has not yet been ratified. YRCW says Q4-to-date YRC National Transportation total tonnage per day is down 11.8%, YRC Regional Transportation total tonnage per day down about 11%, adjusted.
SUPERTEX, INC. (SUPX)
Lazard Capital reportedly upgrades SUPX to buy from hold.
ORBITAL SCIENCES CORP. (ORB)
ORB says it's been selected for a long-term contract by the National Aeronautics and Space Administration (NASA) to provide cargo transportation services to and from the International Space Station. ORB stated that contract, awarded under NASA's Commercial Resupply Services (CRS) program, has an expected value of about $1.9B for cargo transportation missions to be conducted between 2011 and 2015. Jefferies reiterates buy.See Pg. 5
PLD announces that it made contributions of properties in North America, Europe and Japan during the fourth quarter for total proceeds of $1.26 billion. The contributions included a total of 59 properties in 12 countries, representing 15.2 million square feet of space. Wachovia reportedly upgrades to outperform from underperform.
NAVISTAR INTERNATIONAL CORP. (NAV)
NAV to restate results for nine months ended July 31, '08; expects to increase reported net income by $50M-$70M, ($0.68-$0.95 per share) for nine months ended July 31, '08. Continues to affirm FY 08 guidance for net income of $467M-$548M, EPS of $6.35-$7.45, excl. charges for impairment of long-lived assets and related charges associated with certain assets in its Engine segment.
MICRON TECHNOLOGY, INC. (MU)
MU posts $0.91 Q1 loss (includes items) vs. $0.34 loss on 8.7% total revenue decline. S&P keeps hold. Goldman maintains sell.
INTERMEC, INC. (IN)
IN to be added to S&P SmallCap 600 after the close of trading on a date to be announced, replacing SI INTERNATIONAL (SINT), which is being acquired.
INDEPENDENT BANK CORP. (MASS.) (INDB)
INDB to be added to S&P SmallCap 600 after the close of trading on Dec. 31, replacing LIBBEY (LBY), which being removed due to its low market cap.
AMERICAN PHYSICIANS CAPITAL, INC. (ACAP)
ACAP to be added to S&P SmallCap 600 after the close of trading on Dec. 31, replacing MONACO COACH CORP. (MNC), which being removed due to its low market cap.
ACTUANT CORP. (ATU)
ATU to be added to S&P SmallCap 600 after the close of trading on Dec. 31, replacing BIOLASE TECHNOLOGY (BLTI), which being removed due to its low market cap.
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