Morning Movers 4/16: CSKI, GMKT, UIS, JAH, PLXS, FCS, NOK Higher; GGP, NOBL, DSCO, BGG, CIM, IIIN Lower

April 16, 2009 10:07 AM EDT

General Growth Properties (NYSE: GGP) INDICATED SHARPLY LOWER; files for Chapter 11 bankruptcy protection. The Company intends to work with its constituencies to emerge from bankruptcy as quickly as possible while executing on a plan of reorganization that preserves the Company’s integrated, national business operations. All day-to-day operations and business of all of the Company’s shopping centers and other properties will continue as usual. The stock has not yet opened. Click here for the full report.

Noble International, Ltd. (Nasdaq: NOBL) 29.9% LOWER; announced that the company and certain of its US subsidiaries have filed voluntary petitions in the United States Bankruptcy Court for the Eastern District of Michigan seeking relief under the provisions of Chapter 11 of the United States Code. Noble's European, Asian and Mexican affiliates are not debtors in the bankruptcy.

China Sky One Medical, Inc. (Nasdaq: CSKI) 24.5% HIGHER; reports Q4 EPS of $0.45, versus the analyst estimate of $0.32. Revenue for the quarter was $26 million, versus the consensus of $22.21 million. Sees FY09 sales of $128-$130 million, versus the consensus of $131.40 million.

Gmarket Inc. (Nasdaq: GMKT) 19% HIGHER; eBay Inc. (Nasdaq: EBAY) and Gmarket jointly announced a definitive agreement for eBay to combine Gmarket, Korea's leading e-commerce business, with eBay's existing online marketplace in Korea. Under the terms of the agreement, eBay will make a cash tender offer of $24.00 per share for all outstanding Gmarket common shares and American Depositary Shares, for a total purchase price of up to approximately $1.2 billion assuming all outstanding shares are tendered. Click here for the full report.

Discovery Labs (Nasdaq: DSCO) 17.2% LOWER; correcting following an 89% surge so far in April prior to today. Notably, shares of DSCO have not closed in negative territory so far this month. The stock is seeing extreme volume.

Unisys (NYSE: UIS) 16.4% HIGHER; was awarded a $92 million task order for the Defense Finance and Accounting Service Desktop Management Initiative. The award is a recompete of the DMI I task order Unisys has held since March 2004. The new agreement has a one-year base award valued at an estimated $16 million and currently funded at $11.5 million and allows for four one-year options, exercisable at the discretion of DFAS.

Jarden Corporation (NYSE: JAH) 14.3% HIGHER; expects that revenue for the first quarter of 2009 will be approximately $1.14 billion as compared to $1.22 billion in the prior year and the consensus of $1.11 billion. Approximately two-thirds of this difference was foreign exchange related. The first quarter segment earnings are expected to be in the range of $90 to $92 million resulting in estimated adjusted diluted earnings per share of $0.21 to $0.23, above the consensus of $0.12. Click here for the full report.

Plexus Corp. (Nasdaq: PLXS) 11% HIGHER; announced that it recorded a non-cash charge in the amount of $5.7 million in the second fiscal quarter ended April 4, 2009, to write off the entire carrying value of its goodwill. The impairment charge was driven by adverse macroeconomic conditions that contributed to an overall reduction in demand for the Company's offerings in the Kelso, Scotland facility. These conditions led to interim goodwill impairment testing in connection with the preparation of Plexus' financial statements for the quarter, which resulted in the determination that the goodwill was impaired. This was Plexus' sole goodwill asset and was related to the original acquisition of two facilities in the United Kingdom. This non-cash charge does not impact the Company's normal business operations, liquidity or availability under its credit facilities.

Fairchild Semiconductor (NYSE: FCS) 10.7% HIGHER; reports Q1 adj-loss of $0.32, 2 cents better than the analyst estimate of ($0.34). Revenue for the quarter was $223.3 million, versus the consensus of $235.08 million.

Nokia Corporation (NYSE: NOK) 10.5% HIGHER; reports Q1 EPS of EUR 0.10., down 74.4% from the EUR 0.39 reported in the same quarter last year. Revenue for the quarter was EUR 9.276 billion, versus the consensus of EUR 12.66 billion.

Digital Ally, Inc. (Nasdaq: DGLY) 10.2% HIGHER; announced that the British Airport Authority, which is responsible for operations and security at all commercial airports in England, has placed an initial order for DVM-500 systems for installation in airport security vehicles at Heathrow International Airport and Gatwick International Airport. Digital Ally also announced that the security forces at one of Canada's busiest international airports has placed an initial order for DVM-500 systems, following several months of testing and evaluation of the DVM-500 relative to in-car surveillance systems available from Digital Ally's competitors.

Polaris Industries Inc. (NYSE: PII) 10.1% HIGHER; reports Q1 EPS of $0.26, 6 cents better than the analyst estimate of $0.20. Revenue for the quarter was $312 million, versus the consensus of $298.21 million. Sees Q2 EPS of $0.40-$0.50 with sales down 25-30%. The Street is currently expecting Q2 EPS of $0.51. Sees FY09 EPS of $2.50-$3.00, versus the consensus of $2.66. Sales for the year are expected to fall 15-23% from last year.

Sherwin-Williams Co. (NYSE: SHW) 9.6% HIGHER; reports Q1 EPS of $0.32, above the consensus of $0.21. Revenues came in at $1.55 billion, versus the consensus of $1.62 billion.Last year, the company reported Q1 EPS of $0.64. Sherwin-Williams sees Q1 EPS of $1.20-$1.45, versus the consensus of $1.20. Sees Q2 sales down 9%-12%. Sherwin-Williams sees FY EPS of $3.00-$4.00, versus the consensus of $3.54. Sees net sales for the year down mid-high single digits.

Harley-Davidson, Inc. (NYSE: HOG) 9.5% HIGHER; reports Q1 EPS of $0.50, versus the consensus of $0.51. Revenues came in at $1.29 billion, versus the consensus of $1.28 billion. Sees Q2 shipment volume of 55,000-59,000. Harley-Davidson re-affirms Full Year shipment plans.

Knoll, Inc. (NYSE: KNL) 9.2% HIGHER; reports Q1 EPS of $0.29, ex-items, 10 cents better than the analyst estimate of $0.19. Revenue for the quarter was $212.6 million, versus the consensus of $212.57 million.

Krispy Kreme Doughnuts, Inc. (NYSE: KKD) 9.2% HIGHER; reports Q1 EPS of $0.00, compared to a loss of $0.50 in the same quarter last year. Revenue for the quarter was $91.77 million, versus $110.95 million. Same store sales rose 0.9% during the quarter.

BIOLASE Technology, Inc. (NASDAQ: BLTI) 8.8% HIGHER; announced that it has received 510(k) clearance from the U.S. FDA to market its ezlase(TM) diode laser system for therapeutic applications including temporary pain relief. The cleared indications are broad to cover medical and dental. The FDA has given clearance for the ezlase for the following indications: "The ezlase(TM) diode system emits energy in the near-infrared spectrum to provide topical heating for the purpose of elevating tissue temperature for a temporary relief of minor muscle and joint pain and stiffness, minor arthritis pain, or muscle spasm, minor sprains and strains, and minor muscular back pain; the temporary increase in local blood circulation; the temporary relaxation of muscle."

Genuine Parts Co. (NYSE: GPC) 8.6% HIGHER; reports Q1 EPS of $0.56, above the consensus of $0.49. Revenues came in at $2.4 billion, versus the consensus of $2.49 billion.

Briggs & Stratton Corporation (NYSE: BGG) 7.9% LOWER; reports Q3 EPS of $0.51, 13 cents lower than the analyst estimate of $0.64. Revenue for the quarter was $673.8 million, versus the consensus of $720.27 million. Lowers its FY09 EPS from $0.81-$1.10 to $0.46-$0.65, versus the consensus of $0.84. Cuts its quarterly dividend from $0.22 to $0.11 per common share.

Chimera Investment Corporation (NYSE: CIM) 7.7% LOWER; announced that it has set the price for the public offering of 235 million shares of common stock at $3.00 per share for estimated gross proceeds of approximately $705 million. Chimera has granted the underwriters a 30-day option to purchase up to an additional 35,250,000 shares of common stock to cover over-allotments. All of the shares are being offered by Chimera. The estimated net proceeds to Chimera from this offering are expected to be approximately $674.8 million, excluding the exercise of the underwriters' over-allotment option.

Insteel Industries, Inc. (Nasdaq: IIIN) 7.6% LOWER; reports Q2 adj-loss of $0.36, versus the analyst estimate of ($0.04). Revenue for the quarter was $50.4 million, versus the consensus of $65.50 million.

AptarGroup (NYSE: ATR) 7.3% LOWER; reports Q1 EPS of $0.38, in-line with the analyst estimate of $0.38. Revenue for the quarter was $431.8 million, versus the consensus of $476.97 million. Sees Q2 EPS of $0.37-$0.42, versus the consensus of $0.53.

Ultratech, Inc. (Nasdaq: UTEK) 7.2% LOWER; reports Q1 EPS of $0.01, 3 cents lower than the analyst estimate of $0.04. Revenue for the quarter was $25.7 million, versus the consensus of $27.25 million.

Intuitive Surgical (Nasdaq: ISRG) 7% HIGHER; reports Q1 earnings of $0.72, or $1.02 per share ex-items, versus the consensus of $1.02. Revenues came in at $188.4 milion, versus the consensus of $200.76 million.

Amphenol Corporation (NYSE: APH) 6.9% HIGHER; reports Q1 EPS of $0.41, ex-items, 1 cents better than the analyst estimate of $0.40. Revenue for the quarter was $660 million, versus the consensus of $654.75 million. Sees Q2 EPS of $0.41-$0.43, versus the Street estimate of $0.43.

Cheesecake Factory (Nasdaq: CAKE) 6.8% HIGHER; KeyBanc upgrades the stock from Hold to Buy. Price target $17. Click here for the full report.

Activision Blizzard (Nasdaq: ATVI) 6.6% HIGHER; announced today that its March quarter net revenues and earnings per diluted share are tracking ahead of the company's prior outlook, citing better-than-expected performance of its titles at retail. Click here for the full report.

Sonoco (NYSE: SON) 6.5% LOWER; reports Q1 adj-EPS of $0.29, 1 cent lower than the analyst estimate of $0.30. Revenue for the quarter was $801 million, versus the consensus of $899.32 million. Sees Q2 EPS of $0.34-$0.38, versus the consensus of $0.41. For FY09, Sonoco sees EPS of $1.55-$1.75, versus the consensus of $1.65.

Super Micro Computer, Inc. (NASDAQ: SMCI) 6.5% LOWER; lowers its Q3 sales guidance from $115-$125 million to $109-$110 million. The Street is currently expecting Q3 sales of $117.52 million. Also lowers its Q3 EPS guidance from $0.11-$0.14 to $0.05-$0.06, versus the consensus of $0.09. Sees Q3 non-GAAP gross margin of 15%.

Southwest Airlines Co. (NYSE: LUV) 6.4% LOWER; reports Q1 non-GAAP loss of $0.03, 2 cents worse than the analyst estimate of ($0.01). Revenue for the quarter was $2.36 billion, versus the consensus of $2.40 billion.

Gannett Co., Inc. (NYSE: GCI) 6.3% HIGHER; reports Q1 EPS of $0.25, ex-items, 1 cent better than the analyst estimate of $0.24. Revenue for the quarter was $1.38 billion, versus the consensus of $1.44 billion.

Micron (NYSE: MU) 6.3% HIGHER; Barclays upgrades the stock from Equalweight to Overweight.

Illinois Tool Works Inc. (NYSE: ITW) 6.3% HIGHER; reports Q1 non-GAAP EPS of $0.17, 3 cents better than the analyst estimate of $0.14. Revenue for the quarter was $2.914 billion, versus the consensus of $2.93 billion. Sees Q2 EPS of $0.25-$0.37, versus the consensus of $0.36. Sees Q2 sales growth of 5-11%.

Umpqua Holdings Corporation (NASDAQ: UMPQ) 6.3% LOWER; reports Q1 loss of $0.23, versus the analyst estimate of $0.00.

AIG (NYSE: AIG) 5.6% HIGHER; hearing reports that AIG is in talks to sell a car-insurance unit to rival Zurich Financial Services for $1.5-$2 billion. A deal could be announced as soon as today. Click here to see the full report.

Heartland Express, Inc. (Nasdaq: HTLD) 5.4% HIGHER; reports Q1 EPS of $0.15, 3 cents better than the analyst estimate of $0.12. Revenue for the quarter was $115 million, versus the consensus of $131.20 million.

Baxter (NYSE: BAX) 4.4% HIGHER; reports Q1 EPS of $0.83, 2 cents better than the analyst estimate of $0.81. Revenue for the quarter was $2.82 billion, versus the consensus of $2.87 billion. Baxter sees Q2 EPS 93c to 95c versus consensus of 95 cents.

Polycom Incorporated (Nasdaq: PLCM) 3.9% LOWER; reports Q1 EPS of $0.27, ex-items, 1 cent better than the analyst estimate of $0.26. Revenue for the quarter was $225.4 million, versus the consensus of $233.87 million.

JP Morgan Chase (NYSE: JPM) 2.5% HIGHER; reports Q1 earnings of $0.40 per share, above the consensus of $0.32. Revenues came in at $25.02 billion, versus the consensus of $22.95 billion. Revenues on a managed basis was $26.92 billion. Click here for the full report.

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