Monday, December 18, 2006

CEMEX, S.A.B. de C.V. (NYSE:CX) expects Q4 revenue of $4.3 billion, an increase of 9% versus the same period a year ago; the current consensus is $4.21 billion. For the full year 2006, CEMEX expects to meet its guidance of $4.1 billion, an increase of 15% versus the same period last year.

Oracle Corporation (NDAQ:ORCL) reports Q2 EPS of $0.22, in line with estimates. Total revenues were $4.16 milion versus the $4.15 billion consensus.

Applied Signal Technology (NDAQ:APSG) reports Q4 EPS of $0.05 versus consensus of $0.22.  Revenues were $45.38 million versus $59.58 million consensus.

DynCorp International (NYSE:DCP) shares are trading higher after reports surfaced that the company has been awarded an Army contract worth as much as $4.6 billion.

ElkCorp (NYSE:ELK) announced it has entered into a definitive agreement to be acquired and taken private by global private equity firm The Carlyle Group in an all-cash transaction valued at approximately $1.0 billion, including the assumption of approximately $173 million of net debt. Under the terms of the agreement, ElkCorp shareholders will receive $38.00 in cash for each outstanding ElkCorp share. This represents a premium of approximately 51% over ElkCorp's closing share price on November 3, 2006. We discussed the possibility of this buyout in a previous article.

Joy Global Inc.
(NDAQ:JOYG) reports Q4 EPS of $0.71, which was 5 cents better than estimates. Revenues were $689 million versus a $655.64 million consensus. Revenues over the coming 12-months are expected to be in the range of $2.70 to $3.00 billion, EPS is expected to be between $2.85 to $3.25. Current FY07 revenue consensus is $2.84 billion and EPS consensus is $2.95.

Matria Healthcare, Inc. (NDAQ:MATR) foresees FY07 EPS between $1.67 to $1.74 and revenues between $385 to $395 million, higher than the current FY07 EPS consensus of $1.36 and revenue consensus is $386.34 million.

Exelixis, Inc. (NDAQ:EXEL) and Bristol-Myers Squibb Company (NYSE:BMY) announced a worldwide collaboration today. Bristol-Myers Squibb will pay Exelixis an upfront payment of $60 million in cash. Exelixis will also receive $20 million for each of up to three different drug candidates selected by Bristol-Myers Squibb at IND.

Norsk Hydro (NYSE:NHY) and Statoil (NYSE:STO) have agreed to recommend to their shareholders a merger of Hydro's oil and gas activities with Statoil, creating the world's largest offshore operator with a strengthened platform for future growth.

Express Scripts, Inc. (NDAQ:ESRX) offered to acquire Caremark Rx, Inc. (NYSE:CMX) for $29.25 in cash and 0.426 shares of Express Scripts stock for each share of Caremark stock. The offer has a value of around $58.50 per Caremark share or approximately $26 billion in the total.

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