Pre-Open Movers 9/5: SankDisk (SNDK) and UST (UST) Both Up on Takeover Reports; Nokia (NOK) Sinks On Lower Market Share View

September 5, 2008 9:25 AM EDT

StreetInsider.com Pre-Open Movers:

SankDisk (Nasdaq: SNDK) 26% HIGHER; issued a statement in response to rumors, Samsung Electronics is looking to acquire the company. The company said, "SanDisk periodically has conversations with multiple parties, including Samsung."

UST (NYSE: UST) 23% HIGHER; Altria Group (NYSE: MO) in in advanced talks to buy UST, people with close knowledge of the negotiations said. Terms of a deal could not be learned.

Hoku Scientific, Inc. (NASDAQ: HOKU) 15% HIGHER; Hoku and Solargiga Sign Contract Worth Up to $455 Million

Shiloh Industries, Inc. (NASDAQ: SHLO) 15% HIGHER; reports Q3 EPS of $0.18, versus the analyst estimate of $0.06. Revenues for the quarter were $124.2 million, compared to $115.8 million in the same quarter last year.

Quiksilver (NYSE: ZQK) 10% LOWER; reports Q2 adj-EPS of $0.22, 1 cent better than the analyst estimate of $0.21. Revenues for the quarter were $564.9 million, versus the consensus of $543.92 million. Sees FY08 EPS slightly below $0.90, which includes a $0.03 tax benefit, versus the consensus of $0.86.

Spectranetics Corporation (NASDAQ: SPNC) 10% HIGHER; Rebounds after yesterday's 47% drop after confirming federal probe.

Nokia (NYSE: NOK) 10% LOWER; has lowered its Q3 mobile device market share estimate to lower than Q2, which compares to its prior estimate of flat from Q3 to Q2. Nokia's market share outlook for FY08 remains to be an increase from FY07.

Martek Biosciences Corporation (Nasdaq: MATK) 8% HIGHER; reports Q3 EPS of $0.28, 4 cents better than the analyst estimate of $0.24. Revenues for the quarter were $88.4 million, versus the consensus of $86.47 million. Martek Biosciences sees Q4 EPS 24-27 cents versus 26 cents consensus. Martek Biosciences sees Q4 revenue $87M-$91M versus $89 million. Martek Biosciences sees FY08 EPS $1.06 to $1.09 versus $1.04. Martek Biosciences sees FY08 $349M-$353M versus $349 million.

Cascade Corporation (NYSE: CAE) 5% LOWER; reports Q2 EPS of $0.94, 9 cents better than the analyst estimate of $1.03. Revenues for the quarter were $150.1 million, versus the consensus of $156.03 million.

Smith & Wesson Holding (Nasdaq: SWHC) 5% LOWER; reports Q2 EPS of $0.05, 2 cents better than the analyst estimate of $0.03. Revenues for the quarter were $78 million, versus the consensus of $75.38 million.

Merrill Lynch (NYSE: MER) 5% LOWER; Goldman downgrades to Sell

ADC Telecommunications (Nasdaq: ADCT) 5% HIGHER; reports Q3 EPS of $0.27, 1 cent better than the analyst estimate of $0.26. Revenues for the quarter were $390 million, versus the consensus of $388.55 million. Sees Q4 sales below Q3, versus the consensus of $381 million and FY08 sales of $1.5-$1.52 billion, versus the consensus of $1.51 billion.

Advanced Micro Devices Inc. (NYSE: AMD) 4% LOWER; Merrill downgrades to Sell

American International Group, Inc. (NYSE: AIG) 3% LOWER; Morgan Stanley downgrades to Equal Weight

Safeway Inc. (NYSE: SWY) 3% LOWER; Morgan Stanley downgrades to Underweight

Abercrombie & Fitch (NYSE: ANF) 2% LOWER; Citi downgrades to Sell

Sycamore Networks (Nasdaq: SCMR) 2% LOWER; reports Q4 loss of $0.03, 3 cents below the analyst estimate of $0.00. Revenues for the quarter were $15.1 million, versus the consensus of $25.08 million.

Take-Two Interactive Software (Nasdaq: TTWO) 0.5% LOWER; reports Q3 adj-EPS of $0.93, versus the analyst estimate of $0.54. Revenues for the quarter were $433.8 million, versus the consensus of $381.27 million. Sees Q4 revs of $285-$335 million, versus the consensus of $350 million and EPS of $0.01-$0.05, versus the consensus of $0.19. For the year revs are expected to be $1.5-$1.55 billion, versus $1.5 billion and EPS of $2.08-$2.12, versus the Street estimate of $1.83.

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