UPWARD MOVERS:
Imperial Tobacco Group plc (NYSE: ITY) +$5.45; Stock jumps for second straight session. Yesterday, the company announced a $15.2 billion bid to acquire rival Altadis.
The Manitowoc Company (NYSE: MTW) +$4.38; Company expects to exceed its current estimate for fiscal 2007 earnings per share. The company is raising its most recent earnings per share guidance of $3.85 to $4.00 to a new range of $4.20 to $4.30. (Consensus is $4.02). In addition, the company anticipates that reported earnings per share for the first quarter of 2007 will exceed the average of published Wall Street estimates by approximately 10%.
OMI Corp. (NYSE: OMM) +$3.12; Board of Directors has decided to evaluate a range of strategic alternatives to further enhance shareholder value. Company has retained Perella Weinberg Partners and Fearnley Fonds ASA as financial advisors.
AnnTaylor (NYSE: ANN) +$3.07; Reports Q4 earnings of $0.31 per share, 2 cents better than estimates. Revenues came in at $610.5 million versus the consensus of $610.8 million. Sees FY08 EPS of $2.15-$2.25 versus the consensus of $2.15 million.
Accredited Home Lenders (Nasdaq: LEND) +$2.49; Company reached an agreement to sell substantially all of its loans held for sale that are currently funded out of its warehouse and repurchase credit facilities, asset-backed commercial paper facility, and its equity. The $2.7 billion of loans held for sale will be sold at a substantial discount in order to alleviate recent pressures from margin calls.
DOWNWARD MOVERS:
Google Inc. (Nasdaq: GOOG) -$4.45; Stock moving lower with no specific news releases.
CBOT Holding (NYSE: BOT) -$4.45; Deutsche Bank downgrades CBOT Holding (NYSE: BOT) from Buy to Hold with a $195 price target, following surge related to InterContinental Exchange (NYSE: ICE) takeover offer. The firm said, "While we do believe that CME (NYSE: CME) needs to own BOT, especially when one considers the potential loss of nearly $100 million in 2008 revenues as a result of its clearing agreement with the BOT,we don’t believe it would materially bid much higher than BOT’s closing price of $195."
Franklin Resources Inc. (NYSE: BEN) -$3.35; Goldman Sachs downgrades Franklin Resources from Buy to Neutral
Trimeris (Nasdaq: TRMS) -$2.62; Reports Q4 earnings, Amends research agreement with Roche and announces management changes.
Accuray Incorporated (Nasdaq: ARAY) -$1.65; Company reported a Q2 loss of $0.45. Total net revenues were $26.3 million for the quarter ended December 30, 2006, as compared to $11.3 million for the quarter ended December 31, 2005, an increase of 133 percent.
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