Pre-Open Movers 2/25:Progenics Pharma (PGNX) Jumps On FDA Approval, Netgear (NTGR) Down on Results

April 25, 2008 9:31 AM EDT

StreetInsider.com Pre-Open Movers:

Progenics Pharmaceuticals, Inc. (Nasdaq: PGNX) 23% HIGHER; Progenics and Wyeth (NYSE: WYE) announced that the FDA has approved RELISTOR subcutaneous injection for the treatment of opioid-induced constipation in patients with advanced illness who are receiving palliative care, when response to laxative therapy has not been sufficient.

ISIS Pharmaceuticals Inc. (Nasdaq: ISIS) 23% LOWER; The FDA has provided guidance regarding approval requirements for mipomersen. The FDA has indicated that reduction of LDL-cholesterol is an acceptable surrogate endpoint for accelerated approval of mipomersen for use in patients with homozygous familial hypercholesterolemia (hoFH). The FDA will require data from two ongoing preclinical studies for carcinogenicity to be included in the hoFH filing, which is now anticipated to take place in 2010.

Acacia Research Corporation (Nasdaq: ACTG) 20% LOWER; reports a Q1 loss of $0.14, 7 cents worse than the analyst estimate of ($0.07). Revenues for the quarter were $9.05 million, versus the consensus of $14.46 million.

Ericsson (Nasdaq: ERIC) 17% HIGHER; Ericsson, the world's largest maker of mobile networks, surprised the market with better than expected Q1 results. Ericsson's stock had dropped after posting a terrible Q4, but this quarter's news has sent the stock up 17% in pre-market trading. Ericsson Q1 EPS SEK 17c and sales of SEK 44.2B

Nastech Pharmaceutical (Nasdaq: NSTK) 15% LOWER; entered into definitive agreements with new and existing investors to raise gross proceeds of $7,932,500 though a registered direct offering. Under terms of the agreement, the Company will sell 4,585,260 shares of its common stock at $1.73 per share.

Chemed Corporation (NYSE: CHE) 14% LOWER; reports Q1 EPS of $0.73, 10 cents below the analyst estimate of $0.83. Revenues for the quarter were $285 million, versus the consensus of $288.98 million. Sees 2008 EPS of $3.05-$3.20, versus the consensus of $3.56.

Deckers Outdoor (Nasdaq: DECK) 14% HIGHER; reports Q1 EPS of $0.86, 10 cents better than the analyst estimate of $0.76. Revenues for the quarter were $97.5 million, versus the consensus of $90.72 million. Sees Q2 revs up 50%, EPS up 30%.

Trimble Navigation Ltd. (Nasdaq: TRMB) 13% HIGHER; Strong Q1 results. Piper upgrades to Buy

Netgear (Nasdaq: NTGR) 11% LOWER; reports Q1 EPS of $0.39, 4 cents below analyst estimate of $0.43. Revenues for the quarter were $198.2 million, versus the consensus of $203.72 million. Sees Q2 revs of $195-$200 million, versus the consensus of $198.8 million.

Ariba (Nasdaq: ARBA) 10% HIGHER;reports Q1 EPS of $0.09, 1 cent better than the analyst estimate of $0.08. Revenues for the quarter were $82.8 million, versus the consensus of $81.51 million.

SiRF Technology Holdings Inc. (Nasdaq: SIRF) 9% LOWER; reports a Q1 loss of $0.14, 7 cents lower than the analyst estimate of ($0.07). Revenues for the quarter were $14.62 million, versus the consensus of $61.90 million.

NBTY Inc. (NYSE: NTY) 7% LOWER; reports Q1 EPS of $0.67, 8 cents worse than the analyst estimate of $0.75. Revenues for the quarter were $533 million, versus the consensus of $530.32 million.

AmeriCredit Corp. (NYSE: ACF) 6.8% HIGHER; reports Q1 EPS of $0.31, 10 cents better than the analyst estimate of $0.21. Revenues for the quarter were $638 million, versus the consensus of $629.77 million.

Tenet Healthcare Corp. (NYSE: THC) 6.8% HIGHER; CS upgrades Tenet Healthcare to Outperform

CF Industries (NYSE: CF) 5.6% LOWER; reports Q1 EPS of $2.77, better than the analyst estimate of $2.13. Revenues for the quarter were $667.3 million, versus the consensus of $750.65 million.

PerkinElmer (NYSE: PKI) 5.5% HIGHER; reports Q1 EPS of $0.29, 4 cents better than the analyst estimate of $0.25. Revenues for the quarter were $482.3 million, versus the consensus of $459.64 million. Sees Q2 EPS of $0.33-$0.35, versus the consensus of $0.33.

ITT Industries (NYSE: ITT) 5% HIGHER; reports Q1 earnings of $0.91 per share, 10 cents better than estimates. Revenues came inat $2.81 billion, versus the consensus of $2.66 billion. Sees FY08 EPS of $4.00$-4.10 versus prior guidance of of $3.80-$3.95, versus the consensus of $3.94.

Interactive Brokers Group (Nasdaq: IBKR) 5% HIGHER; reports Q1 EPS of $0.66, 16 cents better than the analyst estimate of $0.50. Revenue for Q1 $464 million versus $436 million

Microsoft (Nasdaq: MSFT) 4.5% LOWER; reports Q3 EPS of $0.47, 3 cents better than the analyst estimate of $0.44. Revenues for the quarter were $14.45 billion, versus the consensus of $14.50 billion. Sees Q4 EPS of $0.45-$0.48, versus the consensus of $0.48. FY08 of $2.13-$2.19, versus the consensus of $2.10.

Emulex (NYSE: ELX) 4.3% LOWER; reports Q3 EPS of $0.31, 2 cents better than the analyst estimate of $0.29. Revenues for the quarter were $127.8 million, versus the consensus of $128.73 million. Sees Q4 EPS of $0.24-$0.27, versu sthe consensus of $0.29. Sees Q4 revs of $118-$123 million, versus $129 million.

Sohu.com (Nasdaq: SOHU) 4% HIGHER; Citi upgrades

Varian Semiconductor Equipment Associates Inc. (Nasdaq: VSEA) 4% LOWER; reports Q2 EPS of $0.45, 9 cents below the analyst estimate of $0.54. Revenues for the quarter were $255.3 million, versus the consensus of $254.48 million. Sees Q3 EPS of $0.21-$0.26, versus the consensus of $0.47. Sees Q3 revs of $175-$185 million, versus $233 million.

American Express Company (NYSE: AXP) 3.6% HIGHER; reports Q1 EPS of $0.84, 3 cents better than the analyst estimate of $0.81. Revenues for the quarter were $7.2 billion, versus the consensus of $7.20 billion.

Baidu (Nasdaq: BIDU) 3.2% HIGHER; reports Q1 EPS of $0.60, in-line with the analyst estimate of $0.60. Revenues for the quarter were $81.9 million, versus the consensus of $75.39 million. Sees Q2 revs of $111-$114 million, versus the consensus of $100.6 million.

Ford Motor Co. (NYSE: F) 3% LOWER; Multiple downgrades

MEMC Electronic Materials (NYSE: WFR) 2.7% LOWER; reports Q1 EPS of $0.84, 1 cents lower than the analyst estimate of $0.85. Revenues for the quarter were $501.4 million, versus the consensus of $500.81 million. Sees Q2 revs of $540-$570 million, versus the consensus of $565.8 million.

Hansen Natural Corp. (Nasdaq: HANS) 2% HIGHER; $200M buyback

Altria Group, Inc. (NYSE: MO) 1.6% LOWER; reports Q1 EPS of $0.37, in-line with the analyst estimate of $0.37. Revenues for the quarter were $4.4 billion, versus the consensus of $3.83 billion.

Foundry Networks (Nasdaq: FDRY) 1% HIGHER; reports Q1 EPS of $0.15, 5 cents below the analyst estimate of $0.20. Revenues for the quarter were $150.1 million, versus the consensus of $163.58 million. Announces $100 million expansion of buyback.

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