Pre-Open Movers 8/8: Fannie Mae (FNM) Sinks On More Losses, Qwest (Q) Jumps On Upgrade

August 8, 2008 9:28 AM EDT

StreetInsider.com Pre-Open Movers:

MIVA, Inc. (NASDAQ: MIVA) 50% HIGHER; blinkx plc delivered a letter to the Board of Directors and CEO of MIVA, Inc. in which blinkx proposes to acquire MIVA for a cash consideration of $1.20 per share.

Quality Distribution Inc. (Nasdaq: QLTY) 50% HIGHER;reports Q2 EPS of $0.02, 5 cents better than the analyst estimate of ($0.03). Revenues for the quarter were $224 million, versus the consensus of $219.07 million.

Par Pharmaceutical Companies, Inc. (NYSE: PRX) 23% LOWER; reports a Q2 loss of $0.59, which may not compare to the analyst estimate of $0.12. Revenues for the quarter were $113 million, versus the consensus of $144 million.

ANADIGICS, Inc. (Nasdaq: ANAD) 22% LOWER; lowered third quarter 2008 financial guidance. Net sales for the third quarter 2008 are now estimated to be in the range of $62 million to $65 million. The consensus is $78.03 million. Net loss per share on a GAAP basis for the third quarter 2008 is expected to approximate $0.08 to $0.10. Pro forma per share results, excluding non-cash stock compensation expense, are expected in the range of income of $0.01 to a loss of $0.01. The consensus is $0.12 profit.

The Knot (Nasdaq: KNOT) 20% LOWER; reports Q2 EPS of $0.07, 2 cents lower than the analyst estimate of $0.09. Revenues for the quarter were $28.7 million, versus the consensus of $31.24 million.

Advanced Battery Technologies Inc. (Nasdaq: ABAT) 19% LOWER; to Raise $12 Million in Private Placement

Beacon Roofing Supply, Inc. (NASDAQ: BECN) 18% HIGHER; reports Q3 EPS of $0.41, 10 cents better than the analyst estimate of $0.31. Revenues for the quarter were $514.6 million, versus the consensus of $480.27 million.

Fannie Mae (NYSE: FNM) 15% LOWER; reported a net loss of $2.3 billion, or ($2.54) per diluted share, in the second quarter of 2008, compared with a first quarter 2008 net loss of $2.2 billion, or ($2.57) per diluted share. Results were driven primarily by an increase in the provision for credit losses that more than offset higher revenue and fair value gains. Reducing the common stock dividend from $0.35 per share to $0.05 per share, effective for the third quarter, to preserve $1.9 billion in capital through 2009.

Magma Design Automation Inc. (Nasdaq: LAVA) 13% LOWER; sees Q1 total revenue of $44.5 million to $45.5 million, compared to its previous target revenue range of $50.0 million to $51.5 million, and the consensus of $50.5 million. Magma estimates Q1 non-GAAP earnings per share to be in the range of $(0.04) to $0.01, compared to its previous target range of $0.07 to $0.09 and the consensus of $0.08.

Sapient (Nasdaq: SAPE) 10% HIGHER; reports Q2 EPS of $0.13, 7 cents better than the analyst estimate of $0.06. Revenues for the quarter were $165.8 million, versus the consensus of $158.40 million. Sees Q3 revenues $177 million or higher versus $167 million consensus.

Jazz Pharmaceuticals (Nasdaq: JAZZ) 10% LOWER; reports a Q2 loss of $2.17, versus the analyst estimate of ($1.78). Revenues for the quarter were $15.5 million, versus the consensus of $20.19 million.

MBIA Inc (NYSE: MBI) 7% HIGHER; reported Q2 After-tax operating income of $0.96 per share, which may not compare to the consensus of a $1.37 loss.

EnerNOC (Nasdaq: ENOC) 7% LOWER; reports a Q2 loss of $0.54, 3 cents better than the analyst estimate of ($0.57). Revenues for the quarter were $23.7 million, versus the consensus of $19.39 million.

Qwest Communications (NYSE: Q) 7% HIGHER; Morgan Stanley upgrades Qwest from Equal-Weight to Overweight

Crocs, Inc. (Nasdaq: CROX) 7% LOWER; reports Q2 EPS of $0.06, ex-items, 1 cent better than the analyst estimate of $0.05. Revenues for the quarter were $222.8 million, versus the consensus of $219.73 million. Sees Q3 EPS of $0.01-$0.05, versus the consensus of $0.03.

Hertz Global Holdings Inc. (NYSE: HTZ) 6% LOWER; reports Q2 EPS of $0.30, 1 cents better than the analyst estimate of $0.29. Revenues for the quarter were $2.3 billion, versus the consensus of $2.24 billion. Sees 2008 EPS of $1.05-$1.15, versus the consensus of $1.29.

Emulex (NYSE: ELX) 4% LOWER; reports Q2 EPS of $0.22, 1 cent better than the analyst estimate of $0.21. Revenues for the quarter were $112.8 million, versus the consensus of $113.96 million. Emulex sees q1 eps 18-20 cents versus 22 cents consensus. Sees q1 revenuess $108-$111 million versus $116 million consensus.

Metabasis Therapeutics, Inc. (Nasdaq: MBRX) 4% HIGHER; entered into a two-year research collaboration agreement with Roche to apply Metabasis’ HepDirect liver-targeting technology to Roche’s proprietary lead nucleosides in order to develop new treatments for hepatitis C virus (HCV).

McDonald's Corp. (NYSE: MCD) 1.6% HIGHER; said global comparable sales increased 8.0% in July.

Deckers Outdoor (Nasdaq: DECK) 1% HIGHER; reports Q2 EPS of $0.39 ex-items or 28 cents headline, versus the analyst estimate of $0.24. Revenues for the quarter were $91.1 million, versus the consensus of $78.58 million. Sees FY08 revenue up 43% versus prior guidance of up 31%.

Gibraltar Industries, Inc. (Nasdaq: ROCK) INDICATED HIGHER; reports Q2 EPS of $0.67, versus the analyst estimate of $0.38. Revenues for the quarter were $379.2 million, versus the consensus of $364.26 million. Sees FY08 EPS of $1.50-$1.65, versus the consensus of $1.15.

Hormel Foods Corporation (NYSE: HRL) INDICATED LOWER; expects its third quarter earnings to be $0.37 - $0.39 per share, below the consensus of $0.45. Chairman and CEO Jeffrey M. Ettinger said, "Higher than expected feed and fuel input costs at our Jennie-O Turkey Store segment were the primary reason for the shortfall in our third quarter results." The company is adjusting our full year guidance to $2.22 - $2.28 per share, versus previous guidance was $2.30 - $ 2.40 per share.

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