The Day's Winners
was up 20% to $13.17 after the company raised its fourth-quarter revenue targets on stronger demand for LED products. The company now expects sequential revenue growth of 8% to 11%, up from previous guidance of 5%. Cree also sees revenue in the first fiscal quarter up 5% from its fourth-quarter results.
Genzyme Molecular Oncology
were climbing 65% to $4.20 after the biotech company said Friday that its experimental cancer treatment showed positive results in early stage laboratory testing. The company also said it had been granted clearance to test the kidney cancer treatment on patients in clinical trials beginning within the next two months.
, the 80%-controlled software arm of media conglomerate
, added about 30% on news that
had agreed to drop its industrial sabotage lawsuit. Vivendi accused NDS of encouraging piracy against its pay television service, but the lawsuit has been put on hold pending the outcome of News Corp.'s deal to buy Vivendi's Italian pay television business. Assuming the deal goes through, Vivendi has agreed to drop the lawsuit. Shares of NDS were up to $14.50 recently.
was gaining almost 14% to $4.35 after the company reiterated its second-quarter outlook Friday and said it was moving more of its advertising money to the Internet. priceline still expects second-quarter pro forma earnings of 3 cents to 5 cents a share on revenue of $320 million to $350 million. The company said strength in its hotel business has helped offset declines in airline ticket purchases. priceline also plans to shift about one-third of its advertising dollars to the Internet, which it said will save it money by more effectively targeting online travel users. The stock was also upgraded to buy from hold by CIBC.
jumped 73% to $8.90 on news that
plans to acquire the Web services company for $9 a share. The total purchase price will be about $212 million in cash. The $9 offer price is a 75% premium to SilverStream's Friday close of $5.14. The transaction is expected to close in July, assuming regulatory and shareholder approval.
The Day's Losers
Auto parts maker
Collins & Aikman
was dropping 17% after the company restated its first-quarter results in response to a request from federal regulators to give investors more information before the company's planned 20 million share public offering. The company said its loss widened by $1.4 million, or 2 cents a share, as it wrote down part of its acquisition of
auto-trim unit. The public offering was delayed as a result of the restatement.
was down about 30% to $4.35 after the company slashed its outlook, saying IT spending continued to be tight. The company, which makes products that help businesses manage computer networks and software, expects first-quarter results ranging from a loss of 4 cents a share to a profit of 1 cent on revenue of $17 million to $20 million. Analysts had expected the company to earn 3 cents on revenue of $23.6 million.
were losing 28% to $27.40 on news the
Federal Trade Commission
has requested information relating to the company's $190 million acquisition of Magella Healthcare. Pediatrix, which runs a network of physician group practices, said the inquiry shouldn't be viewed as an accusation of wrongdoing, but the company can't predict if the investigation will impact its business.
plunged about 40% to 6 cents after
said it would acquire the cheap Internet service provider for 1.71 cents a share. Earthlink will pay about $10 million for the company and assume $35 million in liabilities. Earthlink said the purchase price could go up to 2.45 cents a share, or $14.3 million, depending on preclosing adjustments.
shed 11% to $4.75 after the company said it will take $29 million in second-quarter charges to lay off 8% of its workforce and fold its services segment. The company said its revenue would be 5% below last quarter due to lower IT spending in the services sector. In response Rainbow plans to shut down its Spectria segment, slash its workforce, and discontinue certain products. Rainbow said it sees no long-term visibility for a services sector rebound in IT spending.