tumbled nearly 9% after the closing bell rang Monday on reams of bad news. The Reston, Va.-based company lost 306,000 postpaid subscribers in the fourth quarter, will slash about 5,000 jobs (more than 7% of its year-end headcount) and has forecast bleak full-year results.
The company will likely bring in revenue of $41 billion in 2006 -- more than $533 million below Wall Street projections, according to Thomson Financial. Fourth-quarter results should be better: At $12.6 billion to $12.9 billion, they handily beat the $10.47 billion consensus. Also, 2007 full-year revenue is pegged at $41 billion to $42 billion, which just about covers the mean Street estimate. Shares, however, were losing $1.71 to $17.93.
jumped on better-than-expected preliminary results. The Hayward, Calif., medical equipment maker said it probably brought in a top line between $14.6 million and $14.8 million in the fourth quarter, or about 58% more than last year. Analysts are seeking $14.3 million. Shares were adding 54 cents, or 7.2%, to $8.05.
gained after the Food and Drug Administration granted the Baltimore-based biotech "fast track" status in order to finish developing its stem-cell treatment for a resistant form of Crohn's disease (inflammation of the digestive tract). The treatment, called Prochymal, was also approved for advanced-phase testing. Prior midphase testing on Prochymal yielded statistically significant results in Crohn's disease patients who didn't respond to standard therapies. Shares were rising $1.13, or 4.5%, to $26.20.
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.
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.
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.
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.