StreetInsider.com Pre-Open Movers 09/27

September 27, 2007 9:20 AM EDT

StreetInsider.com Pre-Open Movers:

Traffix, Inc. (NASDAQ: TRFX) 60% HIGHER; New Motion, Inc. (OTCBB: NWMO) and Traffix entered into a definitive agreement to merge in a stock for stock merger. Under the terms of the merger agreement, Traffix shareholders will receive approximately 0.683 of a share of New Motion for each share of Traffix. The exchange ratio was determined by the parties so that Traffix shareholders will own 45% of the combined company, on a fully diluted basis, and New Motion shareholders will own 55%. The exchange ratio is subject to adjustment under certain circumstances. Based upon the closing price of New Motion shares on September 26, 2007, the date the merger agreement was signed, the merger consideration would have a value of approximately $10.59 per Traffix share.

Kongzhong Corp. (Nasdaq: KONG) 31%; US-Traded Chinese stocks continue to see upside momentum

China BAK Battery, Inc. (Nasdaq: CBAK) 22% HIGHER; US-Traded Chinese stocks continue to see upside momentum

Washington Banking Company (Nasdaq: WBCO) 21% HIGHER; Frontier Financial Corporation (Nasdaq: FTBK) and Washington Banking signed a definitive agreement for the merger of Washington Banking with, and into, Frontier. The total cash and stock transaction is valued at approximately $191.1 million, or $21.40 per share, subject to certain conditions

SIGA Technologies, Inc. (NASDAQ: SIGA) 13% HIGHER; lead smallpox drug, ST-246, has passed another milestone by demonstrating 100% protection against death in cynomolgus monkeys showing signs of infection with monkeypox virus as part of a primate trial conducted at the U.S. Army Medical Research Institute of Infectious Diseases.

China Finance Online Co. Ltd. (Nasdaq: JRJC) 9% HIGHER; US-Traded Chinese stocks continue to see upside momentum. Brean Murray raises its price target to $35.

GSI Group Inc., (Nasdaq: GSIG) 8% HIGHER; sees Q3 revenue in the range of $82.0 million to $84.0 million, versus the consensus of $80.62 million. Diluted earnings per share, including restructuring charges, in the range of $0.16 to $0.18 assuming an effective tax rate of 23% to 25%. The Wall Street consensus is $0.11.

Spartan Motors, Inc. (Nasdaq: SPAR) 7% HIGHER; received a new $52 million subcontract order from Force Protection, Inc. (Nasdaq: FRPT) to support the production of Cougar series advanced tactical wheeled vehicles.

Rite Aid Corp. (NYSE: RAD) 6% LOWER; reports Q2 loss of $0.10, versus the consensus of a $0.06 loss. Revenues came in at $6.6 billion versus the consensus of $6.76 billion. Sees year sales of $24.5-$25.1 billion, versus prior view of $25.3-$26 billion. sees year loss at $0.15-$0.27 versus its prior view of a $0.11-$0.23 loss. Same store sales, which will not include the acquired stores until one year after close, are expected to improve 1.3 percent to 3.3 percent over fiscal 2007. The company had seen same store sales improving 3.8 percent to 5.8 percent.

Xyratex Ltd. (Nasdaq: XRTX) 6% LOWER; reports Q3 EPS of $0.25 versus the consensus of $0.24. Revenues came in at $234.2 million versus the consensus of $232.23 million. Revenue in the fourth quarter of 2007 is projected to be in the range $236 to $256 million, versus the consensus of $267.07 million. On a non-GAAP basis, fully diluted earnings per share is anticipated to be between $0.28 and $0.40, versus the consensus of $0.48.

The Pantry, Inc. (NASDAQ: PTRY) 5.8% HIGHER; expects its gasoline gross margin and earnings per share for the fiscal year ending September 27, 2007 to be below its previous targets.

SLM Corp. (NYSE: SLM) 5.9% HIGHER; Reports buyers are willing to renegotiate takeover price.

Superior Well Services Inc. (NASDAQ: SWSI) 3.6% HIGHER; will replace Neoware Inc. (NASDAQ: NWRE) in the S&P SmallCap 600 after the close of trading on Friday, September

Getty Images Inc. (NYSE: GYI) 3% HIGHER; will replace Greater Bay Bancorp (NASDAQ: GBBK) in the S&P MidCap 400 after the close of trading on a date to be announced.

Buffalo Wild Wings Inc. (NASDAQ: BWLD) 3% HIGHER; will replace Corn Products International in the S&P SmallCap 600 after the close of trading on Monday, October 1.

Paychex Inc. (Nasdaq: PAYX) 2.7% LOWER; reports Q1 EPS of $0.40 versus the consensus of $0.39. Revenues came in at $507.1 million versus the consensus of $511.65 million.

Duke Realty Corp. (NYSE: DRE) 2% HIGHER; will replace AG Edwards Inc. (NYSE: AGE) in the S&P MidCap 400 after the close of trading on Friday, September 28

Corn Products International Inc. (NYSE: CPO) 2% HIGHER; will replace Catalina Marketing Corp. (NYSE: POS) in the S&P MidCap 400.

AMR Corporation (NYSE: AMR) 1.9% HIGHER; Large shareholder, FL Group, urged the company to immediately consider strategic alternatives that could significantly increase shareholder value. The firm said alternatives include the separation of American Airlines' frequent flyer loyalty program from the main business.

Bed Bath & Beyond Inc. (Nasdaq: BBBY) 1.5% HIGHER; reports Q2 EPS of $0.55, 3 cents better than estimates. Revenues came in at $1.77 billion versus the consensus of $1.77 billion. Bed Bath & Beyond Inc. also announced that its Board of Directors has authorized a new $1 billion share repurchase program, which will commence after the completion of the current share repurchase program.

Boston Beer Co. Inc. (NYSE: SAM) 1% HIGHER; will replace Playtex Products Inc. (NYSE: PYX) in the S&P SmallCap 600 after the close of trading on Friday, September 28

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