New Shares To Be Dumped On Market
Warner Chilcott announced that major shareholders including Bain Capital, Thomas H. Lee and J.P. Morgan Partners plan to sell almost 43 million shares in the drug maker. That's more than 15 percent of the market cap, and more than one-quarter of the present float! WCRX falls 9 percent before the bell on my tradeMONSTER platform.
Brazilian Fire Burns VeriFone
VeriFone Systems beat expectations on the bottom line, but revenue was just $493 million in its third quarter. That missed the $498 million consensus estimate. Guidance was also weak after a fire destroyed a key facility in Brazil. PAY falls 11 percent in the premarket.
AAR Results Blow Past Consensus
AAR said revenue for the first quarter ended last week was $540 million to $550 million. The preliminary earnings number was $0.42 to $0.45. Those ranges are well above the analyst forecasts for $525.62 million and $0.33. AIR, which provides products and services to the military, rose 10 percent after the bell yesterday but hasn't traded so far this morning.
OCZ Technology Hammered By Revenue Miss
OCZ Technology Group said second quarter revenue was no more than $120 million, while analysts had expected $134.1 million. Management blamed a shortage of NAND flash components, and OCZ is getting hammered by 24 percent before the bell.