Pre-Open Movers: Office Depot (ODP) Lower On Outlook; Greenbrier (GBX) Up On Results

July 8, 2008 9:32 AM EDT

StreetInsider.com Pre-Open Movers:

Syntax-Brillian Corporation (Nasdaq: BRLC) 89% LOWER; filed a voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware.

IndyMac Bancorp (NYSE: IMB) 30% LOWER; said it won't accept new loan submisson, hasn't been succesful in raising added capital. Regulators says firm no longer 'well-capitalized."

Callidus Software Inc. (Nasdaq: CALD) 15% LOWER; expects total revenues for the second quarter of 2008 to be within the range of $23.1 million to $23.7 million, below the Wall Street consensus if $28.8 million.

Office Depot, Inc. (NYSE: ODP) 13% LOWER; As a result of additional pressure from weakening business conditions in Q2, North American Retail comparables fell 10% versus the prior year and total sales were down slightly. Office Depot anticipates its EBIT margin to have declined for Q2 by 200 basis points more than the 200-250 bps decline previously indicated on a year-over-year basis as sales trends worsened late in the quarter.

Greenbrier Companies (NYSE: GBX) 10% HIGHER; reports Q3 EPS of $0.49, above the consensus of $0.38. Revenues came in at $382 million, versus the consensus of $352.85 million.

VMware, Inc. (NYSE: VMW) 9% LOWER; CEO Leaves, Sees year revenues modestly below prior forecast.

Synovus Financial Corp. (NYSE: SNV) 9% LOWER; Morgan Keegan downgrades to Market Perform
Openwave Systems Inc. (Nasdaq: OPWV) 6% HIGHER; announced the appointment of Karen Willem as chief financial officer, effective immediately. Willem brings more than 25 years of experience in finance, sales and general management at leading software companies. She will report to Openwave’s interim CEO Bruce Coleman.

Energy Conversion Devices, Inc. (Nasdaq: ENER) 5.4% HIGHER; said its UNI-SOLAR thin-film flexible solar laminates will power the world's largest rooftop solar power system. The 12-megawatt system is being installed on GM's assembly plant in Figueruelas, Zaragoza, Spain and will become operational in the fall of 2008. ECD will supply the solar laminates through its wholly owned subsidiary, United Solar Ovonic, LLC.

Medivation, Inc. (Nasdaq: MDVN) 5% HIGHER; announced top-line results of a Phase 2 study showing that its investigational drug Dimebon significantly improved cognitive function in patients with mild-to-moderate Huntington's disease.

Stage Stores, Inc. (NYSE: SSI) 4% HIGHER; today reported that its total sales for the five week June period ended July 5, 2008 rose 6.4% to $142.0 million from $133.4 million in the same period last year. Same store sales rose 1.2% this year compared to an increase of 1.4% in '07.

WD-40 Co. (Nasdaq: WDFC) 3.8% HIGHER; JPMorgan upgrades to Neutral

Annaly Capital Management, Inc. (NYSE: NLY) 3.6% LOWER; Continues lower following today's 5.6% sell-off. Could be related to IndyMac news.

Gymboree Corp. (Nasdaq: GYMB) 3.6% LOWER; Friedman Billings downgrades to Market Perform

Staples, Inc. (Nasdaq: SPLS) 3.5% LOWER; Warning from Office Depot

True Religion Apparel Inc. (Nasdaq: TRLG) 3% HIGHER; will replace Helix Energy Solutions in the S&P SmallCap 600

Willis Group Holdings Ltd. (NYSE: WSH) 3% LOWER; Citi donwgrades to Hold

Goodrich Petroleum Corp. (NYSE: GDP) 3% LOWER; To Offer 3M shares

Marsh & McLennan (NYSE: MMC) 1.5% HIGHER; Citi upgrades to Buy

Teva Pharmaceutical (Nasdaq: TEVA) 1% HIGHER; Goldman adds to Buy List

Helix Energy Solutions Group Inc. (NYSE: HLX) INDICATED HIGHER; will replace Activision Inc. (NASDAQ: ATVI) in the S&P MidCap 400

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