Morning Movers 12/16: Best Buy (BBY) and Goldman Sachs (GS) Up After Results; Fertilzer Stocks Jump On Upgrade (TRA, MOS, POT, IPI)

December 16, 2008 10:31 AM EST

StreetInsider.com Morning Movers

Conexant Systems, Inc. (NASDAQ: CNXT) 37% LOWER; slashes its Q1 sales guidance from $103-$108 million to $83-$88 million, versus the consensus of $112.07 million. Also, Q1 EPS move from $0.09-$0.12 to a loss of $0.05-$0.09, versus the consensus of a $0.10 gain. Names Jean Hu as new CFO, replacing Karen Roscher.

STEC, Inc. (Nasdaq: STEC) 24% LOWER; lowers its Q4 sales guidance from $69-$72 million to about $55-$59 million, versus the consensus of $70.48 million. Sees Q1 sales of $42-$50 million, versus the Street estimate of $63.95 million. Sees FY09 revs of $200-$240 million, versus the consensus of $289.04 million.

Smith & Wesson (Nasdaq: SWHC) 18% LOWER; reports Q2 EPS of $0.01, ex-items, 3 cents lower than the analyst estimate of $0.04. Revenue for the quarter was $72.7 million, versus the consensus of $73.20 million.

Best Buy Co. Inc. (NYSE: BBY) 14.6% HIGHER; reports Q3 adj-EPS of $0.35, 11 cents better than the analyst estimate of $0.24. Revenue for the quarter was $11.5 billion, versus the consensus of $11.09 billion.

Terra Industries Inc. (NYSE: TRA) 11% HIGHER; Merrill upgrades fertilzer stocks

Mosaic Co. (NYSE: MOS) 10% HIGHER; Merrill upgrades fertilzer stocks

Baidu.com, Inc. (Nasdaq: BIDU) 9% HIGHER; Goldman upgradea and adds to Buy List

Goldman Sachs Group Inc. (NYSE: GS) 7% HIGHER; Reports a Q4 loss of $4.97, which was widely expected.

Potash Corp. of Saskatchewan, Inc. (NYSE: POT) 7% HIGHER; Merrill upgrades fertilzer stocks

Gilead Sciences Inc. (Nasdaq: GILD) 6% HIGHER; Merrill upgrades to Buy

Durect Corp. (Nasdaq: DRRX) 6% HIGHER; Piper resumes coverage at Buy

Intrepid Potash, Inc. (NYSE: IPI) 6% HIGHER; Merrill upgrades fertilzer stocks

Eaton Corporation (NYSE: ETN) 6% LOWER; sees Q4 EPS of $1.00-$1.10, versus the consensus of $1.70, and FY08 EPS are expected to be $6.75-$6.85, versus the Street estimate of $7.44.

F5 Networks Inc. (Nasdaq: FFIV) 3.5% LOWER; Baird downgrades to Neutral

Progressive Corp. (NYSE: PGR) 3% LOWER; Citi downgrade

Constellation Energy Group, Inc. (NYSE: CEG) 2.6% HIGHER; Electricite de France S.A. is close to a deal to buy 50% of Constellation Energy Group's nuclear generation and operation business for $4.5 billion.

Vishay Intertechnology, Inc. (NYSE: VSH) 2% LOWER; now expects fourth quarter revenues to be in the range of $560 to $590 million, previous outlook was for revenues of $640 to $670 million. The consensus si $631 million.

Air Products (NYSE: APD) 2% HIGHER; Air Products sees first quarter Q1 EPS of $0.95-$1.00, versus the consensus of $1.09.

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