Pre-Open Movers 5/28: Ralph Lauren (RL) Higher After Results/Buyback; KeyCorp (KEY) Sinks After Raising Charge-Off Forecast

May 28, 2008 9:23 AM EDT

StreetInsider.com Pre-Open Movers:

Forward Industries, Inc. (Nasdaq: FORD) 14.6% HIGHER; entered into a new, non-exclusive license agreement with Motorola Inc. (NYSE: MOT) to distribute Motorola branded products to customers in the United States, Canada, and Europe, through March 31, 2009.

Daktronics, Inc. (Nasdaq: DAKT) 8% HIGHER; reports Q4 EPS of $0.14, 8 cents better than the analyst estimate of $0.06. Revenues for the quarter were $129.1 million, versus the consensus of $123.33 million. Sees net sales growth for FY09 of more than 20% compared to FY08. Daktronics also expects operating margin in the range of 8-9.5%.

Polo Ralph Lauren Corp. (NYSE: RL) 8% HIGHER; Reports Q4 EPS of $1.00, which may not compare to the consensus of $0.65. Revenues came in at $1.185 billion versus the consensus of $1.15 billion. Polo Ralph Lauren reaffirms 2009 forecast, sees 2009 EPS of $3.95-$4.05. Authorizes a new $250 million share buyback.

KeyCorp (NYSE: KEY) 7% LOWER; Raises forecast for 2008 net loan charge-offs

Medicines Company (NASDAQ: MDCO) 7% HIGHER; announced receipt of a not approvable letter from the FDA on a supplemental New Drug Application for an additional dosing regimen for Angiomax in the treatment of acute coronary syndromes initiated in the emergency department.

Prospect Capital Corporation (Nasdaq: PSEC) 6% LOWER; To offer 3M shares

JetBlue Airways Corporation (Nasdaq: JBLU) 6% LOWER; plans to defer 21 Airbus A320 aircraft originally scheduled for delivery between 2009 through 2011 to 2014 through 2015.

American Eagle Outfitters Inc. (NYSE: AEO) 5% HIGHER; reports Q1 EPS of $0.21, 2 cents better than the analyst estimate of $0.19. Revenues for the quarter were $640.3 million, versus the consensus of $637.16 million. Sees Q2 EPS in the range of $0.28-$0.30, compared to $0.37 in the same quarter last year and versus the Street consensus of $0.29.

Coca-Cola Enterprises (NYSE: CCE) 5% LOWER; now expects a mid to high single-digit decline in second quarter comparable earnings per share versus the second quarter of 2007. CCE said, "We are working to deliver our full-year 2008 earnings guidance of $1.50 to $1.55 earnings per share. However, this will be challenging if current economic and market trends do not improve."

Donaldson (NYSE: DCI) 5.8% HIGHER; reports Q3 EPS of $0.57, 6 cents better than the analyst estimate of $0.51. Revenues for the quarter were $587.8 million, versus the consensus of $539.49 million. Raises its FY EPS to $2.08-$2.13, versus the consensus of $2.07.

Borders Group Inc. (NYSE: BGP) 4% LOWER; reports a Q1 loss of $0.53, 6 cents worse than the analyst estimate of ($0.47). Revenues for the quarter were $784.7 million, versus the consensus of $801.11 million.

Quest Software Inc. (Nasdaq: QSFT) 4% HIGHER; Goldman upgrades to Buy

Dollar Tree, Inc. (NASDAQ: DLTR) 3% HIGHER; reports Q1 EPS of $0.48, 6 cents better than the analyst estimate of $0.42. Revenues for the quarter were $1.051 billion, versus the consensus of $1.05 billion. Sees Q2 sales of $1.045-$1.075 billion, versus the Street consensus of $1.04 billion. EPS for the quarter are expected to be $0.33-$0.36, versus $0.36. For the full year, sales are expected to be $4.52-$4.63 billion, versus the consensus of $4.57 billion. EPS are expected to be $2.23-$2.39, versus $2.32.

Shanda Interactive Entertainment (Nasdaq: SNDA) 3% LOWER; reports Q1 EPS of $0.60, 9 cents better than the analyst estimate of $0.51. Revenues for the quarter were $111.1 million, versus the consensus of $106.86 million.

United Parcel Service, Inc. (NYSE: UPS) 2.7% HIGHER; Merrill upgrades to Buy

Jamba Juice (Nasdaq: JMBA) 2.4% LOWER; reports a Q1 loss of $0.12, in-line with the analyst estimate of ($0.12). Revenues for the quarter were $101.6 million, versus the consensus of $101.28 million.

Archer-Daniels-Midland Co. (NYSE: ADM) 2.3% LOWER; Launches Equity Units Offering of up to $2 Billion

NVIDIA Corporation (Nasdaq: NVDA) 2% HIGHER; JMP upgrades

Southwestern Energy Co. (NYSE: SWN) 2% HIGHER; will replace Trane in the S&P 500

Learning Tree International, Inc. (NASDAQ: LTRE) INDICATED HIGHER; announced that a special committee of its independent directors has decided to solicit offers to purchase the company.

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