Morning Movers 4/9: TXT, WFC, APWR, CRME, USB, EXM, BAC, GYMB, CSH Higher; MOV, ELMG, ANF Lower

April 9, 2009 9:45 AM EDT

Textron Inc. (NYSE: TXT) 42% HIGHER; surging on reports out of a Kuwati newspaper that a consortium of UAE companies is close to a deal to purchase Textron for $21 per share. Click here for the full report.

Wells Fargo & Company (NYSE: WFC) 32.1% HIGHER; expects to report record net income of approximately $3 billion for Q109, or approximately $0.55 per common share after preferred dividends, including $372 million in dividends paid to U.S. taxpayers on the U.S. Treasury’s Capital Purchase Program investment. Click here for the full report.

A-Power Energy Generation Systems, Ltd. (Nasdaq: APWR) 30.9% HIGHER; reports Q4 EPS of $0.30, cents better than the analyst estimate of $0.15. Revenue for the quarter was $81.4 million, versus the consensus of $75.91 million. Sees Fy09 sales of about $290 million.

Cardiome Pharma Corp. (NASDAQ: CRME) 27.4% HIGHER; Merck (NYSE: MRK) and Cardiome announced a collaboration and license agreement for the development and commercialization of vernakalant, an investigational candidate for the treatment of atrial fibrillation. Click here for the full report.

US Bancorp (NYSE: USB) 20.8% HIGHER; financials are rallying on the Wells Fargo news.

Excel Maritime Carriers Ltd. (NYSE: EXM) 19.5% HIGHER; reports Q4 EPS of $1.71, ex-items, versus the analyst estimate of $1.04. Revenue for the quarter was $189.2 million, versus the consensus of $123.53 million.

Bank of America (NYSE: BAC) 18.3% HIGHER; financials are rallying on the Wells Fargo news.

SunTrust Banks (NYSE: STI) 18.2% HIGHER; rising with financials. Also upgraded at KBW to Outperform.

The Gymboree Corporation (Nasdaq: GYMB) 17.8% HIGHER; sees Q1 same store sales down in the range of the mid-teens, compared to its prior view of down 20-25%. Raises its Q1 EPS guidance from $0.18-$0.25 to $0.50-$0.56, versus the Street estimate of $0.23.

Cash America International, Inc. (NYSE: CSH) 15.8% HIGHER; raises its Q1 EPS guidance from $0.61-$0.65 to $0.76-$0.78, versus the consensus of $0.63. Maintains its FY09 EPS guidance of $3.10-$3.30, versus the consensus of $2.89.

Charlotte Russe Holding, Inc. (Nasdaq: CHIC) 15.2% HIGHER; reports preliminary Q2 sales rose 3.3% to $191.2 million. The Street was expecting sales of $185.26 million. Same store sales for the quarter fell 8%. Sees Q2 non-GAAP EPS of $0.02-$0.051, which compares to the Street estimate of ($0.19). Sees Q3 comps to be in the negative low-single digit to positive low-single digit range.

RF Micro (Nasdaq: RFMD) 15% HIGHER; UBS upgrades the stock from Neutral to Buy. Click here for more color.

Movado Group, Inc. (NYSE: MOV) 14.6% LOWER; reports Q1 adj-loss of $0.42, versus the analyst estimate of ($0.02). Revenue for the quarter was $94 million, versus the consensus of $105.40 million. Eliminates its quarterly dividend. Expects to be slightly profitable in FY10.

Citigroup (NYSE: C) 12.9% HIGHER; financials are rallying on the Wells Fargo news.

Limited Brands, Inc. (NYSE: LTD) 12.7% HIGHER; March comparable store sales decrease of 9%, versus the consensus of a 12% drop. The company reported net sales of $646.2 million, compared to net sales of $733.2 million last year.

JP Morgan (NYSE: JPM) 11.8% HIGHER; financials are rallying on the Wells Fargo news.

Barclays PLC (NYSE: BCS) 10.4% HIGHER; announces agreement for the sale of its iShares business to Blue Sparkle LP, a new limited partnership established by CVC Capital Partners Group SICAV-FIS S.A., for a total consideration of approximately US$4.4 billion (£3.0 billion). Click here for the full report.

Eagle Bulk Shipping (Nasdaq: EGLE) 10% HIGHER; see Excel Maritime.

EMS Technologies, Inc. (Nasdaq: ELMG) 9.9% LOWER; lowers the low end of its previously issued FY09 EPS guidance from $1.55 to $1.35.

DryShips (Nasdaq: DRYS) 8.6% HIGHER; moving higher on better-than-expected earnings out of Excel Maritime.

Zep Inc. (NYSE: ZEP) 7.7% HIGHER; reports Q2 loss of $0.04, 4 cents better than the analyst estimate of ($0.08). Revenue for the quarter was $114.6 million, versus the consensus of $115.79 million.

Abercrombie & Fitch (NYSE: ANF) 7.6% LOWER; today reported net sales of $235.1 million for the month of March, down 29% from $330.2 million reported in March '08. Same store sales fell 34% during the month.

Aeropostale, Inc. (NYSE: ARO) 7.3% HIGHER; announced that total net sales for the five-week period ended April 4, 2009 increased 13% to $160.5 million, from $141.8 million for the five-week period ended April 5, 2008. Same store sales for the month rose 3%.

American Eagle Outfitters, Inc. (NYSE: AEO) 7% HIGHER; announced that comparable store sales decreased 16% for the month, compared to a 12% decrease for the same period last year. Revises Q1 EPS view from $0.04 to $0.07 to $0.06 to $0.07 versus the consensus view of $0.05.

Rick's Cabaret International, Inc. (NASDAQ: RICK) 6.8% HIGHER; says same store sales declined by 7.60% to $14.05 million. Click here for the full report.

Equity One, Inc. (NYSE: EQY) 6.8% LOWER; plans to sell 4,000,000 shares of its common stock in an underwritten public offering. The company also plans to grant the underwriters an option to purchase up to an additional 600,000 shares of common stock to cover over-allotments, if any.

Saks Incorporated (NYSE: SKS) 6.4% HIGHER; reports March sales of $209.4 million, down 24.2% from March '08. Same store sales fell 23.6% during the month.

Diana Shipping (NYSE: DSX) 6% HIGHER; see Excel Maritime.

J. C. Penney Company, Inc. (NYSE: JCP) 5.9% HIGHER; comparable store sales decreased 7.2% for the five-week period ended April 4, 2009. Total Company sales in March decreased 5.4 percent. J.C. Penney now expects to report a Q1 loss in the range of $0.05 to $0.10 per share which compares to previous guidance for a loss of $0.20 to $0.30 per share versus the consensus of $0.22 loss.

FCStone Group (Nasdaq: FCSX) 5.6% LOWER; reports Q2 EPS of ($1.80), cents better than the analyst estimate of ($1.48). Revenue for the quarter was $56.6 million, versus the consensus of $63.6 million.

California Pizza Kitchen, Inc. (Nasdaq: CPKI) 5.4% HIGHER; reports preliminary Q1 sales of $161.1 million, down 2.2% from Q108. Same store sales fell 5.9%, compared to a 0.4% increase in the same quarter last year. Raises its Q1 EPS guidance from $0.03-$0.05 to $0.09-$0.10, versus the consensus of $0.05.

Dillard's, Inc. (NYSE: DDS) 5% HIGHER; reports total March sales of $490 million, down from $621.725 million in the comparable period last year. Same store sales for the month fell 19%.

The TJX Companies, Inc. (NYSE: TJX) 4.7% HIGHER; today reported March 2009 sales of $1.7 billion, flat from the same period last year. Consolidated same store sales for the month rose 2%. Sees Q1 EPS at or slightly above the high end of its prior guidance of $0.32-$0.38.

Wal-Mart Stores, Inc. (NYSE: WMT) 4.3% LOWER; reports March total sales of $36.21 billion, down slightly from the same period last year. Same store sales for the month rose 1.4% ex-fuel. Sees Q1 EPS at the high end of its $0.72-$0.77 range. The Street is currently expecting Q1 EPS of $0.76.

Target Corporation (NYSE: TGT) 4.2% HIGHER; today reported that its net retail sales for the month of March came in at $5.543 billion, down 2.3% from the same period last year. Same store sales for the month fell 6.3%.

Ross Stores, Inc. (Nasdaq: ROST) 4% HIGHER; today reported that sales increased 8% to $682 million for the month of March. Same store sales rose 3% from the same period last year. Raises its Q1 EPS guidance from $0.56-$0.61 to $0.68-$0.70. The Street is currently expecting Q1 EPS of $0.59.

Costco Wholesale Corporation (NASDAQ: COST) 3.5% LOWER; said March comps down 5%, -2% in the U.S. and -13% International. Comps, excluding the negative impacts from gasoline deflation and foreign exchange, were up 4%, +3% in U.S. and +9% International. Net sales were $6.39 billion for the month of March, a decrease of 3% from $6.57 billion in the same five-week period last year.

99¢ Only Stores (NYSE: NDN) 3% HIGHER; reports same-store sales increased 6.2% versus the 91 days ended Saturday, March 29, 2008, with the number of same-store sales transactions increasing 5.1% and the average transaction up 1.1% to $9.52 compared to $9.42 for the comparable quarter last year.

Matrix Service Co. (Nasdaq: MTRX) 3% LOWER; reports Q3 EPS of $0.16, versus the analyst estimate of $0.26. Revenue for the quarter was $146.3 million, versus the consensus of $157.51 million. Sees FY09 EPS of $1.10-$1.25 versus the consensus of $1.34.

BJ's Wholesale Club, Inc. (NYSE: BJ) 2.9% LOWER; reports March comps, ex-gas, up 8.5%. Click here for the full report.

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