Pre-market: Alliance Fiber Optics raises Q2 guidance
Sunnyvale, Calif.-based Alliance Fiber Optic Products Inc. (Nasdaq: AFOP) raised its revenue guidance for the quarter ended June 30, 2007. The maker of fiber optic components expects to report net sales above $8.3 million, the company said this morning. Analyst estimates were unavailable. The stock has added $0.32, 18%, to $2.11.
Shares of Syntroleum Corp. (Nasdaq: SYNM), which develops a process for converting natural gas or gasified coal into synthetic liquid hydrocarbons, are higher on news this morning that the Tulsa, Okla.-based company has agreed to a $150 million venture with Tyson Foods Inc. (NYSE: TSN) to produce synthetic fuels for the renewable diesel, jet, and military fuel markets. Shares are up $0.84, or 30%, to $3.60.
Shares of Smith Micro Software Inc. (Nasdaq: SMSI) have appreciated on news this morning that the Aliso Viejo, Calif.-based company has been upgraded to “Buy” from “Hold” by brokerage firm Jefferies & Co. Inc. (NYSE: JEF). Shares are up $0.64, or 4%, to $15.29.
San Diego-based Orexigen Therapeutics Inc. (Nasdaq: OREX) has been added to the Russell 2000 index of publicly traded companies, which debuts today. Shares of the company focused on the treatment of central nervous system disorders are up $0.32, or 2%, to $14.60.
Shares of Arrowhead Research Corp. (Nasdaq: ARWR) are looking up after news this morning that the Pasadena, Calif.-based nanotechnology company’s new wholly-owned nanobioscience subsidiary has changed its name from C Sixty Acquisition Corp, to Tego BioSciences Corp. and will develop products protecting from sun exposure and radiation therapy. Shares are up $0.02, or 0.35%, $5.69.
