Morning Movers 11/26: BCE (BCE) Lower After Buyout Hits Snag, Deere (DE) Lower on Cautions Outlook

November 26, 2008 9:30 AM EST

StreetInsider.com Morning Movers:

Borders Group Inc. (NYSE: BGP) 50% LOWER; reports Q3 loss of $0.54, 4 cents below the analyst estimate of ($0.50). Revenue for the quarter was $682.1 million, versus the consensus of $726.54 million. In talks with Pershing Square on financing alternatives. No longer considering a sale of the company.

BCE (NYSE: BCE) 39% LOWER; received a preliminary view from KPMG that, based on current market conditions, its analysis to date and the amount of indebtedness involved in the LBO financing, it does not expect to be in a position to deliver on the scheduled effective date of BCE's privatization, December 11, 2008, an opinion that BCE would meet the solvency tests as defined in the definitive agreement, as amended. The receipt at the effective time of a positive solvency opinion is a condition to the closing of the transaction.

The Andersons, Inc. (Nasdaq: ANDE) 15% LOWER; lowers 2008 guidance. The company sees EPS of $2.00-$2.80, versus prior guidance of $3.50-$4.00.

Yingli Green Energy (NYSE: YGE) 15% LOWER; reports Q3 adj-EPS of $0.20, versus the consensus of $0.20. Yingli Green Energy revenues came in at $325.5 million, versus the consensus of $284.5 million. Yingli Green Energy reaffirms 2008 outlook. The company sees FY revenues of $1.053-$1.106 billion, versus the consensus of $1.11 billion. Sees 2008 shipments of 270MW-280MW.

Thomas & Betts Corporation (NYSE: TNB) 12% LOWER; cuts its Q4 EPS guidance closer to the $0.84 reported in Q407 than the range implied by the company's previous FY08 guidance of $5.35-$5.45.

J. Crew Group, Inc. (NYSE: JCG) 11.3% LOWER; reports Q3 EPS of $0.30, 3 cents better than the analyst estimate of $0.27. Revenue for the quarter was $363.1 million, versus the consensus of $351.23 million. Lowers FY08 EPS from $1.44-$1.54 to $1.11-$1.16.

Deere (NYSE: DE) 8.6% LOWER; reports Q4 earnings of $0.81 per share, which may not compare to the consensus of $0.99. Revenues came in at $7.4 billion, versus the consensus of $6.84 billion. Deere said company equipment sales are projected to be about flat for the full year of 2009 and up about 7 percent for the first quarter. Included in the forecast is a negative currency-translation impact of about 6 percent for both the full year and first quarter. Deere's net income is forecast to be about $1.9 billion for 2009 and about $275 million for the first quarter.

Tiffany & Co. (NYSE: TIF) 8% LOWER; reports Q3 EPS of $0.35, above the consensus of $0.25. Q3 comp sales fell 7%. Net sales fell 1% to $618.2 million, versus the consensus of $643.8 million. Tiffany & Co sees FY EPS of $2.30-$2.50, versus the consensus of $2.58.

Excel Maritime Carriers, Ltd. (NYSE: EXM) 7% LOWER; Cantor Fitzgerald downgrades Excel Maritime Carriers to Sell.

NEXEN INC (NYSE: NXY) 2% LOWER; Merrill downgrades to Underperform

Holly Corp. (NYSE: HOC) 1.3% HIGHER; will replace LandAmerica Financial Group Inc. (NYSE: LFG) in the S&P SmallCap 600.

Mettler-Toledo International Inc. (NYSE: MTD) 1% HIGHER; will replace Borders Group, Inc. (NYSE: BGP) in the S&P MidCap 400. As of today's close of trading, Borders Group had a market capitalization of approximately $101 million, whereas the minimum market capitalization needed for admission to the S&P MidCap 400 index is currently $1 billion.

Tompkins Financial Corporation (NYSE: TMP) % HIGHER; will replace Spectrum Brands, Inc. (NYSE: SPC) in the S&P SmallCap 600

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