24/7 Wall St.

24/7 Wall St.

Pre-Market Stock News (January 22, 2008)

On a day that DJIA futures are indicating a -500 point drop in the market, it is pretty hard to focus on the individual news out there in each stock. There are actually a few stocks trading up and here is the individual news:

• Abraxis BioScience (ABII) received approval from the EU Commission to market ABRAXANE for metastatic breast cancer in Europe.
• ADTRAN (ADTN) $0.27 EPS vs $0.27 estimates.
• Bank of America (BAC) posted $0.05 EPS vs. $0.18 estimates, with a $5.28 Billion CDO writedown; shares down over 5% pre-market.
• BJ Services (BJS) $0.58 EPS vs. $0.59 estimate.
• Cardiome (CRME) announced that the FDA has not made a decision on its new drug application for KYNAPID for atrial fibrillation; shares appear to be indicated down 10% or so.
• DuPont (DD) $0.57 EPS vs $0.49 estimates; sees 2008 EPS $3.35 to $3.55 versus $3.43 estimates; shares down almost 2%.
• eBay (EBAY) WSJ announced Meg Whitman plans to retire, although no formal announcement has been made; shares down 8% pre-market.
• Exelixis (EXEL) and Bristol-Myers to co-develop XL139; Exelixis will receive a $20 million milestone payment; EXEL down 3% pre-market.
• Fastenal (FAST) $0.38 EPS vs $0.40 estimates.
• Google (GOOG) shares down over 5% pre-market.
• Iomega (IOM) raised guidance; shares up over 10% pre-market.
• Jacobs Engineering (JEC) $0.75 EPS vs. $0.70 estimates.
• J&J (JNJ) posted $0.88 EPS vs. $0.86 estimates; sees Fiscal 2008 EPS $4.39-$4.44 vs $4.42 estimates.
• Microsoft (MSFT) and Citrix Systems (CTXS) announce an expanded alliance to deliver a set of virtualization solutions to address the desktop and server virtualization needs of customers.
• OSI Systems (OSIS) has received a contract for Rapiscan for about $2 million from its Chinese distributor.
• Regions Financial (RF) $0.24 EPS vs. $0.29 estimate.
• Satyam (SAY) $0.32 EPS vs $0.31 estimates; sees next quarter $0.36 EPS vs. $0.34 estimate; sees 2008 EPS $1.27 vs. $1.24 estimate.
• Tellabs (TLAB) $0.04 EPS vs. $0.01 estimate; Revenues $469.1 million versus $459.6 million estimates; shares down 2.8% pre-market.
• Teva (TEVA) announced it will acquire privately held CoGenesys for development of peptide- and protein-based medicines for roughly $400 million cash.
• UnitedHealth (UNH) $0.92 EPS vs. $0.92 estimates; sees 2008 EPS $3.95 to $4.00 vs. $3.96 estimates.
• Ventana Medical Systems (VMSI) is being acquired by Roche for $89.50 per share in cash in an increased buyout price; shares up 4% at $88.75
• Wal-MArt (WMT) set to make healthcare announcement this morning.
• Waters (WAT) $0.98 EPS vs $1.06 estimate.