StreetInsider.com Pre-Open Movers 01/08

January 8, 2007 9:28 AM EST

StreetInsider.com Pre-Open Movers:

Seattle Genetics, Inc. (Nasdaq: SGEN) 30% HIGHER; Genentech (NYSE: DNA) and Seattle Genetics entered into an exclusive worldwide license agreement for the development and commercialization of SGN-40. SGN-40 is a humanized monoclonal antibody currently in Phase I and Phase II clinical trials for multiple myeloma, chronic lymphocytic leukemia and non-Hodgkin's lymphoma.

Therma-Wave (Nasdaq: TWAV) 29% HIGHER; KLA-Tencor Corporation (NASDAQ: KLAC) has agreed to acquire Therma-Wave through a cash tender offer for $1.65 per share, or approximately $75 million.

Telestone Technologies Corp. (NASDAQ: TSTC) 20% HIGHER; Wins Bids from Four Regional Telecom Operators

United Surgical Partners International, Inc. (NASDAQ: USPI) 13.5% HIGHER; signed an agreement to merge with UNCN Acquisition Corp., an affiliate of Welsh, Carson, Anderson & Stowe (Welsh Carson). Under the terms of the merger agreement, the holders of USPI common stock will receive $31.05 per share in cash for their shares. The merger agreement allows USPI until February 17, 2007 to actively solicit other possible bidders.

MarineMax, Inc. (NYSE: HZO) 12% LOWER; expects its earnings per share for its fiscal year ending September 30, 2007 to range from $1.40 to $1.50 on a fully diluted basis from the previous range of $2.05 to $2.15.

IntraLase Corp. (Nasdaq: ILSE) 11.8% HIGHER; Advanced Medical Optics, Inc. (NYSE: EYE) and IntraLase announced that the two companies have entered into a definitive agreement for AMO to acquire IntraLase for approximately $808 million in cash, $25 per share.

Medifast Inc. (AMEX: MED) 11.6% LOWER; Negative Barron's article.

Syntax-Brillian Corporation (Nasdaq: BRLC) 8% HIGHER; said consolidated revenue for the quarter, including the revenue from Vivitar, will be above $240 million with LCD TV shipments in excess of 350,000 units. The consensus is $189.23 million. Additionally, the company said gross margins will be in the top half of the range of 15% to 17% that they had previously forecasted.

Molex Incorporated (NASDAQ: MOLX) 7% LOWER; said revenue for the second quarter is now estimated to be in a range of $830 to $840 million. The previous outlook for the second quarter, which was provided on October 19, 2006, was for revenue in a range of $830 to $850 million. The consensus is $848.11 million. The Company now estimates that earnings per share for the second quarter will be in a range of $0.34 to $0.37. The previous outlook for the second quarter was for earnings per share in a range of $0.39 to $0.43. The consensus is $0.42.

The Houston Exploration Company (NYSE: THX) 6.8% HIGHER; entered into a definitive agreement with Forest Oil Corporation (NYSE: FST), under which Forest will acquire all of the outstanding shares of Houston Exploration for approximately $1.5 billion in cash and Forest common stock. Forest will also assume approximately $0.1 billion of Houston Exploration net debt.

Savient Pharmaceuticals Inc. (Nasdaq: SVNT) 6.7% HIGHER; Cramer lists as #3 speculative pick for 2007

Tellabs (Nasdaq: TLAB) 6.6% LOWER; sees fourth-quarter revenue of $455 million to $470 million, versus the consensus of $534.2 million. Non-GAAP earnings per share, assuming dilution, are expected to range from 10 cents to 12 cents, versus the consensus of 14 cents.

Microvision Inc. (Nasdaq: MVIS) 6.5% HIGHER; continued momentum. Announced that Visteon plans to demonstrate a recently developed scanned-beam laser head-up display (HUD) based on Microvision's proprietary projection display engine at the Consumer Electronics Show in Las Vegas, January 8-11, 2006.

SKECHERS USA, Inc. (NYSE: SKX) 5% HIGHER; raises Q4 and FY06 guidance. The company expects Q4 revenues to be in the range of $295 million to $300 million, which is above the high-end of the Company's previous guidance of $255 million to $265 million. The Company now expects diluted earnings per share for the fourth quarter to be $0.28 to $0.31, exceeding the Company's previous guidance for the fourth quarter of $0.22 to $0.27. The consensus is $262.3 million and $0.27, respectively.

Level 3 Communications Inc. (Nasdaq: LVLT) 4.4% HIGHER; Cramer lists as #1 speculative pick for 2007

TiVo Inc. (Nasdaq: TIVO) 3.6% HIGHER; Bear Stearns upgrade

Myriad Genetics, Inc. (NASDAQ: MYGN) 3% LOWER; announced the results of its multi-center, double-blind, placebo-controlled human clinical trial of MPC-7869 (R-flurbiprofen) in prostate cancer. Statistical significance was not achieved for either of the endpoints, and therefore the Company does not intend to pursue further development of this compound in cancer. Myriad will continue to concentrate its efforts on the compound's demonstrated activity in Alzheimer's disease.

Wal-Mart Stores Inc. (NYSE: WMT) 1.3% LOWER; Goldman Sachs downgrades to Neutral.

Delta Apparel (AMEX: DLA) INDICATED LOWER; Lowers Q2 and FY Guidance

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