Baidu.com, Blue Coat, Cintas, Petco, Toll: U.S. Equity Preview
July 14 (Bloomberg) -- The following is a list of companies whose shares may have unusual price changes in U.S. markets. This preview includes news that broke after markets closed. Stock symbols are in parentheses after company names. All share prices are as of 8:55 a.m. New York time.
Baidu.com American depositary receipts, (BIDU US) each representing one share, rose $3.59, or 4.3 percent, to $87 in trading before U.S. exchanges opened. China's most-used Internet search engine shut its enterprise software business to focus on increasing its own services. Baidu's rating was raised to ``outperform'' from `` market perform'' by analyst Safa Rashtchy at Piper Jaffray & Co.
Blue Coat Systems Inc. (BCSI US) fell $1.68, or 9.9 percent, to $15.23. The maker of software to thwart computer viruses and filter Internet traffic said in a statement that it will not file its annual report for the fiscal year ended April 30 on time because it is conducting a review of stock-options grants since its initial public offering in November 1999. It may have additional non-cash costs for options expenses.
Borders Group Inc. (BGP US) lost $3.23, or 18 percent, to $15.05 in trading before the opening of U.S. exchanges. The second-largest U.S. book retailer said in a statement that its second-quarter loss would be wider than it forecast. Borders also said it no longer could support its full-year forecast for profit of at least $1.42 a share.
Brandywine Realty Trust (BDN US): CNBC Host Jim Cramer said on his ``Mad Money'' television program that companies in the real-estate investment trust industry, whose mergers and acquisitions value this year is a record, are worth buying because of dividend payments and the potential for additional mergers. It owns or manages 46 million square feet of commercial property. Brandywine fell 53 cents to $31.11 yesterday.
CalAmp Corp. (CAMP US) fell 92 cents, or 12 percent, to $7 before official U.S. trading began. The maker of wireless access systems said fiscal 2007 second-quarter earnings will be 5 cents to 9 cents a share. That compares with an estimate of 13 cents from one analyst polled by Thomson Financial, which doesn't provide the parameters of its estimate to Bloomberg News.
Cintas Corp. (CTAS US) lost 70 cents, or 1.9 percent, to $36.40. The largest U.S. uniform provider said in a statement sent by Business Wire it expects 2007 earnings of $2.10 to $2.20 a share. That compares with an average estimate of $2.20 from five analysts polled by Thomson Financial, which doesn't provide the parameters of its estimate to Bloomberg News.
D.R. Horton Inc. (DHI US) fell $2.44, or 11 percent, to $20.42. The No. 2 U.S. home builder said third-quarter earnings fell, and slashed its forecast for the year as the housing market deteriorated because of higher mortgage rates. Profit fell to about 93 cents a share in the quarter ended June 30, the Fort Worth, Texas-based company said in a preliminary statement
D.R. Horton was expected to earn $1.30 in the quarter, the average estimate of 13 analysts surveyed by Thomson. The company said earnings for the year would be $3.65 a share or more, down from its previous forecast of $5.25 to $5.35 a share and $4.62 in 2005. The Thomson average was $5.20.
The shares of some other homebuilders declined too. Pulte Homes Inc. (PHM US) lost 49 cents, or 1.7 percent, to $27.55. Centex Corp. (CTX US) slid 80 cents, or 1.7 percent, to $46.57. KB Home (KBH US) fell 59 cents to $41.08. Meritage Homes Corp. (MTH) fell 37 cents to $41.70. Toll Brothers Inc. (TOL US) fell 85 cents, or 3.4 percent, to $23.70.
Electro Scientific Industries Inc. (ESIO US) fell 25 cents, or 1.3 percent, to $18.60 in Germany. The maker of products used in electronic manufacturing said in a statement that fourth- quarter net income was 20 cents a share. That's less than the 17 cent-a-share estimate from four analysts in a Thomson survey.
Forest Laboratories Inc. (FRX US) rose $5.60, or 15 percent, to $44 before U.S. markets opened. The maker of drugs that treat depression and Alzheimer's disease said a court upheld its patent on the Lexapro treatment. The U.S. District Court judge in Delaware ruled that the patent was infringed by Teva Pharmaceutical Industries Ltd.'s (TEVA US) Ivax unit (IVX US), Forest said in a statement.
Teva ADRs, each representing one share, fell 13 cents to $30.38.
General Electric Co. (GE US) fell 37 cents, or 1.1 percent, to $32.30 before U.S. exchanges opened. The world's second- largest company by market value said in a statement that second- quarter profit from continuing operations was 47 cents a share. That matches the average estimate from analysts in a Thomson survey.
Hudson City Bancorp Inc. (HCBK US) rose 13 cents to $13.29. CNBC Host Jim Cramer said on his ``Mad Money'' show shares of the regional bank with branches in New Jersey is worth buying because it may be a takeover target and its dividend yield rises as prices fall.
Investors Financial Services Corp. (IFIN US) added 68 cents to $43.60 before U.S. markets opened. The provider of foreign- exchange and securities-lending services for asset managers said in a statement sent by MarketWire that second-quarter profit was 67 cents a share. Analysts polled by Thomson expected 56 cents, the average estimate.
Monster Worldwide Inc. (MNST US) rose $1.60, or 5.1 percent, to $31.50. The operator of the Monster.com job-listing service was upgraded to ``buy'' from ``hold'' by Citigroup Global Markets Inc. analyst Mark Mahaney. Monster's ``fundamentals are stronger than expected,'' he wrote in a note.
Nabi Biopharmaceuticals (NABI US) climbed 4 cents to $5.20 in Germany. The Food and Drug Administration panel, by a 9-to-2 vote with three abstentions, said Nabi had submitted enough information to show that Nabi-HB, a hepatitis B drug that prevents the infection from recurring in liver-transplant patients, is effective for the added use. The FDA approved the drug in 1999 to prevent hepatitis B after exposure.
Petco Animal Supplies Inc. (PETC US) jumped $8.43, or 44 percent, to $27.88. Texas Pacific Group and Leonard Green & Partners LP agreed to buy the second-largest U.S. pet-products retailer for $1.8 billion, or $29 a share in cash. That's 49 percent more than Petco's closing price yesterday.
PetSmart Inc. (PETM US), the company's larger competitor, advanced $2.02, or 8.6 percent, to $25.49.
Popular Inc. (BPOP US) fell $1.15, or 6.3 percent, to $17.01. The Puerto Rican bank with branches in six U.S. states said in a statement sent by PR Newswire that second-quarter profit was 34 cents a share. That's less than the average estimate of 40 cents from six analysts surveyed by Thomson.
Reckson Associates Realty Corp. (RA US): CNBC Host Jim Cramer said companies in the real-estate investment trust industry, whose mergers and acquisitions value this year is a record, are worth buying because of their dividend payments and the potential for additional mergers. Reckson owns 101 properties primarily in the New York metropolitan area. Reckson fell 83 cents to $41.03 yesterday.
Rocky Brands Inc. (RCKY US): The footwear maker said in a statement sent by Business Wire that it will report a loss of about 5 cents a share for the second quarter. Four analysts surveyed by Thomson estimated a profit of 45 cents, on average. The shares added 1 cent to $22.29 yesterday.
Seacoast Banking Corporation of Florida (SBCF US): The regional bank is a takeover target, CNBC Host Jim Cramer said on his ``Mad Money'' television program, and its dividend yield rises as prices fall. The company's shares fell 53 cents, or 2 percent, to $26.61 yesterday.
Stratex Networks Inc. (STXN US) rose 27 cents, or 9.1 percent, to $3.24. The maker of wireless networking equipment's fourth-quarter revenue for the period ended June 30 was on the higher end of its previous guidance between $62 million and $66 million, it said in a preliminary statement sent by PR Newswire.
WPS Resources Corp. (WPS US): The electric utility said in a statement that it boosted its quarterly dividend by 1 cent to 57.5 cents. WPS rose 51 cents to $49.84 yesterday.
Tickers: BIDU BSCI CTA PETC BPOP TOL
To contact the reporter on this story:
Vivek Shankar in New York at vshankar3@bloomberg.net.
Last Updated: July 14, 2006 09:17 EDT
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