Northern,WI  11/15/2012 (BasicsMedia) – Starting things off this wonderful Tuesday morning is Express (EXPR).  Express has jumped some 20% in early morning trading on news of rosier fourth-quarter guidance that was triggered by robust holiday sales. This holiday season could have been a make or break scenario for Express, which had seen its shares lose almost a third of their value over the prior 12 months due to slowing sales.

Late Monday the retailer projected fourth-quarter same-store sales would be flat to up 1%, translating to EPS of 72 cents to 74 cents. Even the low end of the new profit range would trump the Street’s view of 66 cents. Express previously forecast fourth-quarter EPS of 62 cents to 68 cents.

At the same time, Express raised its full-year earnings outlook, calling for EPS of $1.56 to $1.59. By comparison, Wall Street had been anticipating EPS of $1.50. This is certainly good news for Express as it stopped their 12-month tumble of 31%.

CEO Michael Weiss commented, “Our promotional strategy and the introduction of opening price points in key categories contributed to a sequential improvement in comparable sales since the third quarter of 2012 and higher gross margin dollars versus last year’s holiday season.”

Our second upward mover finds Shares of biotech Santarus (SNTS) over10% in early trading. This is an eight-year high and came after the FDA approved its bowel-disease drug Uceris.

This makes the fifth commercial product on the market for Santarus, which already sells gastrointestinal drug Zegerid as well as two diabetes drugs and the cholesterol-lowering Fenoglide. Uceris.

In a recent interview, CEO Gerald Proehl told IBD that Uceris will be more of a complement to those products than a direct competitor, as management of the disease is complex and often involves tinkering with different drugs. He estimates peak annual sales of $300 million, significant for a company that recorded $148 million in sales for the first nine months of this year.

Our last mover of the morning is the network infrastructure provider QLogic (QLGC) which is up over 6%. The company said revenues for its fiscal third quarter ended December 30 were above previous guidance. Good news for QLogic as the company says it expects to report revenue of $119 million; the guidance had been set for a previous range of $112 million to $118 million. QLogic said that the strong results were “driven by higher than expected revenue from Host Products and particularly strong performance from Network Products.”

QLogic said it now sees non-GAAP profits of 19-20 cents a share; previous guidance was for 14-19 cents. The company expects to report full results on January 24.

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