Tuesday's Early Winners & Losers
Cheesecake Factory (CAKE) shares were leaping after the restaurant chain said that, based on preliminary results, comparable sales had risen a total of 0.8%, with a 0.4% rise for its Cheesecake Factory restaurants and a 7.8% climb in its secondary Grand Lux Cafe chain. It also said fourth-quarter sales have likely grown 18% from a year ago (on a 13-week basis) to $360.4 million, which tops the Street's view by about $6.4 million. Shares of the Calabasas Hills, Calif., company were up $1.63, or 6.6%, to $26.19.
Vascular Solutions (VASC) rose on word that the FDA had granted 501(k) safety clearance to the Minneapolis-based company's InnerChange micro-introducer catheter product. InnerChange allows physicians to inject the solution necessitated by diagnostic angiograms (X-rays of blood vessels) using a single micro-access needle stick. The company expects to begin its preliminary evaluations for launching the product sometime in January. Shares were gaining 38 cents, or 4.2%, to $9.38.
Emageon (EMAG) fell after the Birmingham, Ala.-based business-software company forecast 2007 sales between $136 million and $140 million, at least $23.4 million below the consensus. Earnings are pegged at $5.3 million and $6.5 million, or 24 cents to 29 cents a share; excluding items, they will likely range between 79 cents and 87 cents. Shares were sliding 94 cents, or 6.7%, to $13.00.
ScanSource (SCSC) dropped as the technology-products distributor issued disappointing fourth-quarter guidance. The Greenville, S.C., company expects to take in revenue between $467 million and $475 million. Analysts are looking for $489.4 million. Shares were losing $1.58, or 5.2%, to $28.55.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV