Pre-Open Movers 7/24: QUALCOMM (QCOM) Surges On Nokia Settlement; Chipotle (CMG) Sinks On Results

July 24, 2008 9:31 AM EDT

StreetInsider.com Pre-Open Movers:

Cadence Design Systems (Nasdaq: CDNS) 27% LOWER; reports Q2 EPS of $0.14, versus the analyst estimate of $0.14. Revenues for the quarter were $329 million, versus the consensus of $316.15 million. Sees a Q3 loss of 11 to 9 cents versus consensus of a profit of 40 cents. Sees Q3 revs $235 to $245 million versus $412.8 million. Sees FY08 1 to 5 cents versus $1.16. Revenues for the year 1.12 billion to $1.14 billion versus $1.5 billion.

Vital Signs, Inc. (NASDAQ: VITL) 25% HIGHER; GE Healthcare, a unit of General Electric Company (NYSE: GE), and Vital Signs entered into a definitive merger agreement for GE to acquire Vital Signs. Under the terms of the agreement, shareholders of Vital Signs will receive $74.50 per share in cash for each Vital Signs share they own. Shares of VITL closed at $58 per share yesterday.

QUALCOMM Inc. (Nasdaq: QCOM) 20% HIGHER; Nokia (NYSE: NOK) and Qualcomm Settle Dispute, Enter License Agreement. In addition, QCOM tops Q3 EPS by 1c and bumps guidance.

Sierra Wireless, Inc (Nasdaq: SWIR) 18% LOWER; reports Q2 EPS of $0.36, 1 cent better than the analyst estimate of $0.35. Revenues for the quarter were $155.7 million, versus the consensus of $154.37 million. Sees Q3 eps 32 cents versus 37 cents. Sees Q3 revs $140 million versus $157 million consensus.

MEMC Electronic Materials (NYSE: WFR) 17% LOWER; reports Q2 EPS of $0.92, 8 cents lower than the analyst estimate of $1.00. Revenues for the quarter were $531.4 million, versus the consensus of $558 million. Sees Q3 sales of $560-$620 million, versus the consensus of $616 million. FY08 EPS are expected to be $4.00-$4.30, versus the consensus of $4.30 and revs of $2.25-$2.35 billion, versus $2.36 billion. Authorizes a $500 million increase in its buyback program.

Omniture, Inc. (Nasdaq: OMTR) 14% LOWER; reports Q2 EPS of $0.10, 1 cent lower than the analyst estimate of $0.11. Revenues for the quarter were $74.9 million, versus the consensus of $74.34 million. Sees Q3 EPS of $0.10-$0.12, versus the consneus of $0.12 and revs of $76-$78 million, versus the consensus of $79.8 million.

RadioShack Corporation (NYSE: RSH) 13% HIGHER; reports Q2 adjusted EPS of $0.35, 9 cents better than estimates. Revenues were $995 million vs. $908.54 million consensus. RadioShack announced today that its board of directors has approved a new $200 million share repurchase program

Baidu (Nasdaq: BIDU) 13% HIGHER; reports Q2 EPS of $1.11, 13 cents better than the analyst estimate of $0.98. Revenues for the quarter were $117 million, versus the consensus of $112.53 million. Sees Q3 revs of $132-$136 million, versus the consensus of $135 million.

Skechers USA, Inc (NYSE: SKX) 12% LOWER; reports Q2 EPS of $0.31, 3 cents below the analyst estimate of $0.34. Revenues for the quarter were $354.6 million, versus the consensus of $360.34 million. Sees Q3 EPS 57-65 cents versus 66 cents consensus. Sees Q3 revs $425 to $440 million versus $447 million consensus.

Chipotle Mexican Grill, Inc. (NYSE: CMG) 12% LOWER; reports Q2 EPS of $0.74, 1 cent lower than the analyst estimate of $0.75. Revenues for the quarter were $340.8 million, versus the consensus of $343.89 million.

Level 3 Communications, Inc. (Nasdaq: LVLT) 12% HIGHER; reports a Q2 loss of $0.02, 8 cents better than the analyst estimate of ($0.10). Revenues for the quarter were $1.09 billion, versus the consensus of $1.08 billion. Raises cash flow guidance from breakeven to positive for the remainder of the year. As a result, Level 3 sees its FY08 capex to be 11-12% of total communications revenue, versus its longer-term capex guidance of 12-14%.

TASER International Inc. (Nasdaq: TASR) 11% LOWER; reports Q2 loss of $0.02, versus the consensus of a $0.01 profit. Revenue came in at $21.1 million, versus the consensus of $27.2 million.

Zebra Technologies Corp. (Nasdaq: ZBRA) 10% LOWER; reports Q2 adj-EPS of $0.44, versus the consensus of $0.45. Revenues came in at $253.8 million, versus the consensus of $253.9 million. Sees Q3 EPS of $0.35-$0.41, versus the consensus of $0.47. Sees Q3 sales of $242-$253 million, versus the consensus of $255.8 million

Sturm Ruger (NYSE: RGR) 10% LOWER; reports Q2 EPS of $0.05, 6 cents lower than the analyst estimate of $0.11. Revenues for the quarter were $38.7 million, versus the consensus of $45.97 million

LSI Corporation (NYSE: LSI) 10% HIGHER; reports Q2 EPS of $0.13, 4 cents better than the analyst estimate of $0.09. Revenues for the quarter were $692 million, versus the consensus of $665.52 million. Sees Q3 11-15 cents versus consensus of 11 cents. Sees Q3 revs $695-$725 million versus $693 million consensus

Gardner Denver (NYSE: GDI) 10% LOWER; reports Q2 EPS of $0.93, versus the analyst estimate of $0.94. Revenues for the quarter were $518.1 million, versus the consensus of $497.17 million. Sees Q3 84-88 cents versus 90 cents. Sees FY08 eps $3.65-$3.75 versus $3.81

Air Methods Corporation (Nasdaq: AIRM) 10% LOWER; estimates that its fully-diluted earnings will be between $0.38 and $0.41 per share for the quarter ended June 30, 2008. The Wall Street consensus is $0.65.

Laboratory Corp. of America Holdings (NYSE: LH) 10% LOWER; reports Q2 EPS of $1.24, versus the consensus of $1.24. Revenues came in at $1.15 billion, versus the consensus of $1.16 billion. Sees FY EPS of $4.54-$4.66, below the consensus of $4.82.

Kadant Inc. (NYSE: KAI) 9% LOWER; reports Q2 EPS of $0.50, 8 cents better than the analyst estimate of $0.42. Revenues for the quarter were $92.4 million, versus the consensus of $94 million. Lowers FY08 GAAP EPS guidance from $1.85-$1.90 to $1.65-$1.70 and sales from $385-$395 million to $365-$370 million. The Street estimates for FY08 are $1.88 and $390 million for revs. Q3 GAAP are expected to be in the range of $0.36-$0.38. The Street is expecting EPS of $0.52.

Goodrich (NYSE: GR) 8% HIGHER; Reports Q2 earnings of $1.44 per share, well above the consensus of $1.08. Revenues came in at $1.85 bilion, versus the consensus of $1.8 billion. Sees FY08 EPS of $4.80-$4.95, versus prior guidance of $4.30-$4.45 and the consensus of $4.51.

Amazon.com, Inc. (Nasdaq: AMZN) 8% HIGHER; reports Q2 EPS of $0.37, 11 cents better than the analyst estimate of $0.26. Revenues for the quarter were $4.06 billion, versus the consensus of $3.96 billion. Sees Q3 sales $4.2-$4.42 billion, versus the consensus of $4.23 billion. FY08 sales of $19.35-$20.1 billion, versus the consensus of $19.6 billion.

MKS Instruments Inc. (Nasdaq: MKSI) 8% LOWER; reports Q2 EPS of $0.21, below the consensus of $0.25. Revenues came in at $171 million, versus the consensus of $175 million. Sees Q3 EPS of $0.12-$0.19, below the consensus of $0.25. Sees Q3 sales of $155-$165 million, versus the consensus of $174.3 million.

Varian Medical Systems, Inc. (NYSE: VAR) 7% HIGHER; reports Q2 EPS of $0.58, 12 cents better than the analyst estimate of $0.46. Revenues for the quarter were $513 million, versus the consensus of $480.30 million.

Invitrogen Corporation (Nasdaq: IVGN) 5% HIGHER; reports Q2 EPS of $0.68, 11 cents better than the analyst estimate of $0.57. Revenues for the quarter were $367.8 million, versus the consensus of $353.31 million.

Bunge (NYSE: BG) 5% HIGHER; reports Q2 earnings of $5.45 per share, which may not compare to the consensus of $2.27. Revenues came in at $14.37 billion, versus the consensus of $13.25 billion. Now sees FY08 EPS of $11.60-$11.90, up $2.25 from prior guidance and the consensus of $9.16.

iRobot Corp. (Nasdaq: IRBT) 5% HIGHER; reports a Q2 loss of $0.18, 11 cents better than the analyst estimate of ($0.29). Revenues for the quarter were $67.2 million, versus the consensus of $51.77 million. Sees FY08 revenue $295-$303 million versus consensus of $292.27 million.

Terex Corporation (NYSE: TEX) 4.7% HIGHER; reports Q2 EPS of $2.32, 32 cents better than the analyst estimate of $2.00. Revenues for the quarter were $2.94 billion, versus the consensus of $2.76 billion. Re-affirms forecast, sees full year 2008 eps $6.85 to $7.15 versus $6.92.

F5 Networks (Nasdaq: FFIV) 4% LOWER; reports Q3 EPS of $0.23, 1 cent better than the analyst estimate of $0.22. Revenues for the quarter were $165.6 million, versus the consensus of $161.36 million. Sees Q4 sales in the range of $172-$174 million, versus the consensus of $169 million.

NutriSystem (Nasdaq: NTRI) 4% HIGHER; reports Q2 EPS of $0.71, 6 cents better than the analyst estimate of $0.65. Revenues for the quarter were $194 million, versus the consensus of $185.25 million.

Wachovia Corporation (NYSE: WB) 3.6% HIGHER; new CEO, Robert Steel, bought 1,000,000 shares on 7/22 at $15.32-$17.02.

Agnico-Eagle Mines Limited (NYSE: AEM) 3% LOWER; reports Q2 EPS of $0.08, 7 cents below the analyst estimate of $0.15. Revenues for the quarter were $92.8 million, versus the consensus of $127.37 million.

McKesson Corporation (NYSE: MCK) 2.7% LOWER; reports Q1 EPS of $0.83, 3 cents better than the analyst estimate of $0.80. Revenues for the quarter were $26.7 million, versus the consensus of $26.03 million. Sees FY09 $4.00-$4.15 versus $3.83 consensus.

3M (NYSE: MMM) 2.5% HIGHER reports Q2 EPS of $1.39, ex-items, 4 cents better than the analyst estimate of $1.35. Revenues for the quarter were $6.7 billion, versus the consensus of $6.69 billion. 3M reiterates its FY08 earnings growth of at least 10% over FY07 EPS of $4.98.

Raytheon (NYSE: RTN) 2% HIGHER; reports Q2 earnings of $1.00 per share, above the consensus of $0.93. Revenues came in at $5.87 billion, versus the consensus of $5.63 billion. Sees FY08 EPS of $3.80-$3.95, versus prior guidance of $3.65-$3.80 and the consensus of $3.92.

Potash (NYSE: POT) 1.5% HIGHER; reports Q2 earnings of $2.82 per share, above the consensus of $2.61. Revenues came in at $2.62 billion, versus the consensus of $2.55 billion. Sees Q3 EPS of $3.25-$3.75, versus the consensus of $3.27. Sees FY EPS of $12.00-$13.00, versus prior guidance of $9.50-$10.50, versus the consensus of $11.67.

McDonald's Corp. (NYSE: MCD) 1% LOWER; Deutsche Bank cuts to Hold

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