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Cyberonics, Friedman Billings: U.S. Equity Preview (Correct)
By Danny King
(Corrects to show Brocade Communications Inc. reported fourth-quarter earnings in the fifth paragraph.)
Nov. 22 (Bloomberg) -- The following is a list of companies whose shares may have unusual price changes in U.S. exchanges. This preview includes news that broke after exchanges closed yesterday. Stock symbols are in parentheses after company names.
Shares that will join the Standard & Poor's 500 Index gained in trading after the official close of U.S. exchanges following S&P's announcement. DirecTV Group Inc. (DTV US), the largest U.S. satellite television service that will replace Freescale Semiconductor Inc. (FSL US), rose $1.01, or 4.5 percent, to $23.41. Questar Corp. (STR US), an oil and natural- gas producer due to fill in for North Fork Bancorporation Inc. (NFB US), added $1.91, or 2.3 percent, to $84.38.
IAC/InterActiveCorp (IACI US) climbed $1.84, or 5.4 percent, to $35.61. The collection of businesses assembled by billionaire Barry Diller will take the place of Lucent Technologies Inc. (LU US), S&P said in a statement.
Borders Group Inc. (BGP US): The second-largest U.S. bookstore company said that, excluding some items, it had a loss of 60 cents a share for the third quarter. Nine analysts surveyed by Thomson Financial had expected a loss of 64 cents, on average. Thomson declined to disclose the parameters for the estimates in its survey. The stock lost 27 cents to $23 in regular trading.
Brocade Communications Systems Inc. (BRCD US) rose 39 cents, or 4.6 percent, to $8.88 in trading after the official close of U.S. markets. The biggest maker of switches for data- storage networks said that, excluding some items, it earned 14 cents a share for the fourth quarter. A Thomson Financial survey of analysts had an average estimate of 12 cents. McData Corp. (MCDT US), which Brocade agreed to buy for $713 million in August, advanced 31 cents, or 5.3 percent, to $6.15.
Cray Inc. (CRAY US) rose $2.58, or 26 percent, to $12.50 in trading after the official close of U.S. markets. The maker of commercial supercomputers said in a statement sent by MarketWire that it won a $250 million contract from the U.S. Defense Advanced Research Projects Agency.
Cyberonics Inc. (CYBX US) rose $1.51, or 6.1 percent, to $26.14 in extended trading yesterday. The medical device company's chairman and chief executive officer resigned Nov. 20 after a stock-options probe found improper dating of grants from 1999 to 2003, and Cyberonics' stock should rise under new management, CNBC host Jim Cramer said on his ``Mad Money'' show.
Dell Inc. (DELL US) climbed $2.22, or 8.9 percent, to $27.04 in extended trading. The personal computer maker said in a statement of preliminary results that third-quarter profit was 30 cents a share. That topped the average 24-cent estimate by analysts in a Thomson Financial survey.
Friedman Billings Ramsey Group Inc. (FBR US) rose 36 cents, or 4.9 percent, to $7.73 in trading after the official close of U.S. markets. The investment bank agreed to pay $4.5 million to CompuDyne Corp. and a unit of William Blair & Co. related to the October 2001 offering of a private investment in public equity on behalf of CompuDyne.
Hasbro Inc. (HAS US) rose 35 cents, or 1.3 percent, to $27.45 in extended trading yesterday. The toymaker will benefit from its deal to sell merchandise licensed from Marvel Entertainment Inc. (MVL US) as movies such as Spiderman 3 and Transformers come out, CNBC host Jim Cramer said on his ``Mad Money'' show.
Incyte Corp. (INCY US) fell 54 cents, or 9.8 percent, to $4.98 in trading after the official close of U.S. markets. The drugmaker said in a statement distributed today by Business Wire that it filed to sell $151.8 million in debt due 2011.
J. Crew Group Inc. (JCG US) rose $1.25, or 3.5 percent, to $36.60 in extended trading. The clothing retailer that sold shares to the public in June said it expects to earn 95 cents to 97 cents a share this year, boosting forecast from its earlier prediction of as much as 88 cents.
Openwave Systems Inc. (OPWV US) fell 21 cents, or 2.5 percent, to $8.24 in trading after the official close of U.S. markets. The maker of software for e-mail on mobile phones said in a statement sent by PR Newswire that it's subject to delisting from the Nasdaq Stock Market because of delays in filing its fiscal first-quarter results.
PDL BioPharma Inc. (PDLI US) fell 92 cents, or 4.1 percent, to $21.75 in extended trading. The company said Roche Holding AG (ROG VX) is discontinuing their agreement to jointly develop and sell daclizumab, a drug for organ transplant maintenance.
Varsity Group Inc. (VSTY US): The online retailer targeting college students said in a statement sent by MarketWire that Chief Executive Officer Mark Thimmig resigned to pursue other opportunities. Financial chief Jim Craig was named interim CEO. The shares fell 18 cents, or 8.5 percent, to $1.93 in regular U.S. trading.
VeriSign Inc. (VRSN US) fell 34 cents, or 1.5 percent, to $22.95 in trading after the official close of U.S. markets. The company, which registers Web addresses on the Internet, said it may take charges totaling $250 million to correct its accounting.
Wal-Mart Stores Inc. (WMT US): The world's largest retailer said a Massachusetts judge granted its motion to decertify a class-action lawsuit brought against the company by current and former Wal-Mart and Sam's Clubs employees. It also said it won't make contributions to ``highly controversial issues,'' causing conservative group the American Family Association to rescind a two-day boycott slated for after Thanksgiving Day. The shares rose 9 cents to $47.81 in regular U.S. trading.
Tickers: CYBX FBR HAS