StreetInsider.com Pre-Open Movers 09/11

September 11, 2007 9:17 AM EDT

StreetInsider.com Pre-Open Movers:

United Retail Group, Inc. (NASDAQ: URGI) 77.5% HIGHER; Entered into definitive agreement for Redcats USA to acquire United Retail Group. Under the terms of the agreement, Redcats USA will commence a tender offer to purchase all of the outstanding shares of United Retail Group for $13.70 per share in cash, which is an aggregate equity value of $198.9 million.

ImClone Systems Incorporated (NASDAQ: IMCL) 26.8% HIGHER; The company and Bristol-Myers Squibb announced that a Phase III study of ERBITUX in combination with platinum-based chemotherapy met its primary endpoint of increasing overall survival compared with chemotherapy alone in patients with advanced non-small cell lung cancer.

Nabi Biopharmaceuticals (Nasdaq: NABI) 20% HIGHER; entered into a definitive agreement with Biotest AG, Dreieich, Germany to sell the Nabi Biologics strategic business unit to Biotest Pharmaceuticals Corporation for $185 million.

G-III Apparel Group, Ltd. (NASDAQ: GIII) 9% HIGHER; reports a Q2 loss of $0.05, 15 cents better than estimates. Revenues were $83.91 million vs. $75.47 million consensus. For the full fiscal year ending January 31, 2008, the Company is now forecasting diluted net income per share between $0.98 and $1.03. This compares to its previous guidance of diluted net income per share between $0.90 and $0.95. (Consensus is $0.94). The Company is also now forecasting net sales of approximately $510 million compared to its previous forecast of $500 million. (FY08 revenue consensus is $501.29 million).

Arena Pharmaceuticals, Inc. (Nasdaq: ARNA) 7% HIGHER; said an independent Echocardiographic Data Safety Monitoring Board found no reason to stop the ongoing pivotal Phase 3 trial, BLOOM (Behavioral modification and Lorcaserin for Overweight and Obesity Management). The BLOOM trial is evaluating the efficacy and safety of lorcaserin hydrochloride for the treatment of obesity.

Aluminum Corp. of China Ltd. (NYSE: ACH) 6.5% HIGHER; Deutsche Bank raised its price target 23% to HK$15.

lululemon athletica inc. (NASDAQ: LULU) 5.9% LOWER; said Q2 Net revenue increased 80% to $58.7 million. Diluted earnings per share were $0.07, compared to diluted earnings per share of $0.03 last year. The Company expects diluted EPS of $0.30 to $0.33 in fiscal year 2007 including $0.05 to $0.06 in the third quarter.

Sepracor Inc. (Nasdaq: SEPR) 5.8% HIGHER; The company and GlaxoSmithKline (NYSE: GSK) announced an agreement for the commercialization of Sepracor's eszopiclone product for all markets worldwide. Sepracor's eszopiclone product will be marketed by GSK in these areas as LUNIVIA for the treatment of insomnia.

Shuffle Master, Inc. (NASDAQ: SHFL) 5.4% LOWER; reports Q3 GAAP EPS of $0.08 vs. consensus of $0.13. Revenues were $45.135 million vs. $45.68 million consensus.

SMART Modular Technologies (Nasdaq: SMOD) 5.2% LOWER; sees Q4 net sales of approximately $160 to $165 million and EPS of $0.21-$0.23, versus the consensus of $206.7 million and $0.24.

Take-Two Interactive Software, Inc. (NASDAQ: TTWO) 5% HIGHER; reports a Q3 loss of $0.64 (ex-items), 14 cents better than estimates. Revenues were $206.4 million vs. $200.62 million consensus. Sees Q4 revenue between $275-300 million and a non-GAAP loss between $0.05-0.10/GAAP loss between $0.20-0.25. (Consensus is $287.4 million and a loss of $0.17). Sees FY07 revenues between $950 million and $1.0 billion and non-GAAP EPS loss between $1.30-1.35/GAAP loss between $2.05-2.10. (Consensus is $970.77 million and a loss of $1.97). Sees FY08 revenues between $1.1-1.4 billion and non-GAAP EPS between $1.30-1.50/GAAP EPS $0.80-1.00. (consensus is $1.44 billion and $0.88, respectively).

Omnicell Inc. (NASDAQ: OMCL) 4% HIGHER; will replace Chaparral Steel Co. (NASDAQ: CHAP) in the S&P SmallCap 600 after the close of trading on a date to be announced. Chaparral Steel is being acquired by Gerdau AmeriSteel.

Western Digital Corp. (NYSE: WDC) 4% HIGHER; sees Q1 revenue between $1.6 billion and $1.65 billion and EPS of between $0.61 and $0.65, versus the prior guidance of between $1.45 billion and $1.5 billion and $0.43 and $0.47 and the consensus of $1.49 billion and $0.47.

Thornburg Mortgage (NYSE: TMA) 3.6% HIGHER; UBS upgrades Thornburg Mortgage from Neutral to Buy with an $18 price target, saying the worst looks to be over. Says bankruptcy is a low risk.

LSI Corporation (NYSE: LSI) 3.4% HIGHER; Deutsche Bank upgrades LSI from Hold to Buy with a $9 price target, saying risk/reward is favorable.

Genentech Inc. (NYSE: DNA) 3% LOWER; Lower on positive news from ImClone's ERBITUX in advanced non-small cell lung cancer.

Bristol-Myers Squibb Co. (NYSE: BMY) 2.7% HIGHER; ImClone and Bristol-Myers announced that a Phase III study of ERBITUX in combination with platinum-based chemotherapy met its primary endpoint of increasing overall survival compared with chemotherapy alone in patients with advanced non-small cell lung cancer.

McDonald's Corporation (NYSE: MCD) 2.3% HIGHER; announced today that global comparable sales rose 8.1% in August.

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