Morning Movers 1/29: Allstate (ALL) Lower Following Results, Credit Downgrade; Sepracor (SEPR) Up On Results/Guidance

January 29, 2009 10:14 AM EST

StreetInsider.com Morning Movers:

POZEN Inc. (NASDAQ: POZN) 30% HIGHER; Informed by FDA That Endoscopic Gastric Ulcer Incidence Continues to Be an Acceptable Primary Endpoint

Lloyds Banking Group plc (NYSE: LYG) 25% LOWER; UK banks continue to see extreme volitility.

DryShips, Inc. (Nasdaq: DRYS) 23% LOWER; filed to offer up to $500 million in common shares.

Innovative Solutions and Support, Inc. (Nasdaq: ISSC) 24% LOWER; reports Q1 EPS of $0.11, 8 cents better than the analyst estimate of $0.03. Revenue for the quarter was $10.6 million, versus the consensus of $9.47 million. Innovative Solutions and Support sees Q2 EPS of $0.06-$0.09, versus the consensus of $0.00. Sees Q2 revs of $9.5-$10.5 million, versus the consensus of $9.15 million.

The Allstate Corporation (NYSE: ALL) 19% LOWER; reports Q4 EPS of $0.97, versus the analyst estimate of $1.35. Suspends buyback plan. Also, S&P lowered their credit ratings.

Eastman Kodak (NYSE: EK) 17% LOWER; reports Q4 loss of $0.08 per share, below the consensus of $0.21. Revenues came in at $2.43 billion, versus the consensus of $2.81 billion. Today, Kodak announced that the company expects to reduce its worldwide employment by between 3,500 and 4,500 positions during 2009, approximately 14% to 18% of its total workforce.

Black & Decker (NYSE: BDK) 14% LOWER; reports Q4 earnings of $0.73 per share, above the consensus of $0.67. Revenues came in at $1.38 billion, versus the consensus of $1.41 billion. Black & Decker sees Q1 EPS of $0.05-0.15, versus the consensus of $0.74. Black & Decker sees FY EPS of $1.75-$2.25 versus the consensus of $3.62.

Sepracor (Nasdaq: SEPR) 13% HIGHER; reports Q4 EPS of $0.77, may not compare to the analyst estimate of $0.56. Revenue for the quarter was $369.7 million, versus the consensus of $352.71 million. Sepracor is cutting 530 jobs. Sees FY09 EPS $2.10 to $2.70 may not compare to consensus of $1.43. Sees FY09 revenue $1.15 to $1.25 billion versus $1.37 billion.

Kirby (NYSE: KEX) 13% LOWER; reports Q4 EPS of $0.72, 7 cents below the analyst estimate of $0.79. Revenue for the quarter was $326.677 million, versus the consensus of $356.75 million. Kirby sees Q1 EPS of 45c to 55c versus consensus 71 cents. Kirby sees FY09 EPS of $2.40 to $2.65 versus consensus $3.07.

Barclays plc (NYSE: BCS) 12% LOWER; UK banks continue to see extreme volitility.

American Capital, Ltd. (Nasdaq: ACAS) 12% LOWER; KBW downgrades

Boston Scientific (NYSE: BSX) 12% HIGHER; reports Q4 EPS of $0.21, 8 cents better than the analyst estimate of $0.13. Revenues for the quarter were $2 billion, versus the consensus of $2.02 billion. Boston Scientific sees Q1 adj-EPS of $0.15-$0.20, versus the consensus of $0.14. Sees Q1 sales of $1.95-$2.07 billion, versus the consensus of $2.04 billion. Sees FY09 sales of $8-$8.5 billion, versus the consensus of $8.24 billion.

Flextronics (Nasdaq: FLEX) 11.8% LOWER; reports Q3 EPS of $0.16, 3 cents lower than the analyst estimate of $0.19. Revenue for the quarter was $8.15 billion, versus the consensus of $7.99 billion. Sees Q4 EPS of $0.02-$0.07, versus the consensus of $0.14 and revs of $5.5-$6.5 billion, versus the consensus of $7.2 billion.

CTS Corporation (NYSE: CTS) 11% HIGHER; reports Q4 EPS of $0.15, ex-items, versus the analyst estimate of ($0.05). Revenue for the quarter was $162.8 million, versus the consensus of $163 million. Sees FY09 sales of $565-$610 million, versus the consensus of $615 million, and EPS of $0.15-$0.25, versus the Street estimate of $0.18.

LSI Corporation (NYSE: LSI) 11% LOWER; reports Q4 EPS of $0.06, 2 cents better than the analyst estimate of $0.04. Revenue for the quarter was $610 million, versus the consensus of $588.12 million. Sees Q1 EPS breakeven to a loss of 7c versus consensus of $0.00. Sees Q1 revenues $440M to $500M versus $508 million consensus.

Selective Insurance Group, Inc. (Nasdaq: SIGI) 10.5% LOWER; reports Q4 EPS of $0.82, versus the analyst estimate of $0.48. Revenue for the quarter was $380.4 million, versus the consensus of $440.48 million.

Arkansas Best (Nasdaq: ABFS) 10% LOWER; reports Q4 loss of $0.44, may not compare to the analyst estimate of $0.17. Revenue for the quarter was $391.2 million, versus the consensus of $413.61 million.

Arctic Cat Inc. (Nasdaq: ACAT) 10% LOWER; reports a Q3 loss of $0.15, versus the consensus of a $0.36 loss. Revenues came in at $174.7 million, versus the consensus of $178.8 million. Arctic Cat sees Q4 loss of $0.85-$0.95, versus the consensus of a $0.21 loss. Sees FY net loss of $10.46-$0.56, versus the consensus of a $0.01 loss. Additionally, to preserve cash for operations, Arctic Cat’s board of directors has voted to suspend regular quarterly cash dividends.

Western Digital Corp. (NYSE: WDC) 10% HIGHER; reports Q2 EPS of $0.55, ex-items, versus the analyst estimate of $0.31. Raevenue for the quarter was $1.8 billion, versus the consensus of $1.75 billion.

Virtusa Corporation (Nasdaq: VRTU) 10% HIGHER; reports Q3 EPS of $0.27, versus the analyst estimate of $0.09. Revenue for the quarter was $44.9 million, versus the consensus of $43.08 million. Sees Q4 EPS of $0.10-$0.15, versus the consensus of $0.06. For FY09, sees EPS of $0.46-$0.51, versus the consensus of $0.52.

Citrix Systems (Nasdaq: CTXS) 7% LOWER; reports Q4 EPS of $0.48, 1 cent better than the analyst estimate of $0.47. Revenue for the quarter was $416 million, versus the consensus of $432.24 million. Cutting 10% of jobs.

News Corporation (NYSE: NWS) 7% LOWER; Pali downgrades to Sell

Fairchild Semiconductor (NYSE: FCS) 7% LOWER; reports Q4 EPS of $0.06, 1 cent better than the analyst estimate of $0.05. Revenue for the quarter was $320.9 million, versus the consensus of $320.06 million. Fairchild Semiconductor sees Q1 revenue $220M to $245M versus consensus of $289.4 million

Fortune Brands, Inc. (NYSE: FO) 7% LOWER; reports Q4 EPS of $0.68, ex-items, versus the analyst estimate of $0.85. Revenue for the quarter was $1.79 billion, versus the consensus of $1.85 billion. Sees FY09 EPS of $2.00-$2.50, versus the consensus of $3.47.

Murphy Oil Corporation (NYSE: MUR) 6.6% LOWER; reports Q4 EPS of $0.83, 4 cents better than the analyst estimate of $0.79.

Cirrus Logic (Nasdaq: CRUS) 6.3% HIGHER; reports Q4 EPS of $0.07, 3 cents better than the analyst estimate of $0.04. Revenue for the quarter was $48.9 million, versus the consensus of $42.80 million. Announces $20million buyback. Sees Q4 sales of $31-$36 million, versus the consensus of $38 million.

NYSE Euronext, Inc. (NYSE: NYX) 6% LOWER; Piper Jaffray downgrades

QUALCOMM Inc. (Nasdaq: QCOM) 5.2% LOWER; reports Q1 EPS of $0.31, versus the analyst estimate of $0.47. Revenue for the quarter was $2.5 billion, versus the consensus of $2.42 billion. Sees Q2 sales of $2.25-$2.245 billion, versus the consensus of $2.41 billion. For FY09, sees revs of $9.3-$9.8 billion, versus the Street estimate of $10.25 billion.

Illinois Tool Works Inc. (NYSE: ITW) 4% LOWER; reports Q4 EPS of $0.54, 6 cents better than the analyst estimate of $0.48. Revenue for the quarter was $3.678 billion, versus the consensus of $3.67 billion. Sees Q1 EPS from continuing operations of $0.26-$0.42, versus the consensus of $0.47. Sees Q1 sales down 11-17%. Lowers its FY09 EPS guidance from $2.94 to $3.02 to $1.84-$2.48, versus the consensus of $2.35. 

Ford (NYSE: F) 2.5% LOWER; reports Q4 loss of $1.37, ex-items, versus the consensus of a $1.24 loss. Q4 revenues of $29.2 billion, versus the consensus of $27 billion. Ford has total liquidity of $24 billion and is drawing available credit lites of $10.1 billion. Ford's $13.4 billion in Automotive gross cash, suggests cash burn for the quarter of $5.5 billion. This is down from the $7.7 billion cash burn in the third quarter.

Exxon Mobil Corp. (NYSE: XOM) 2% LOWER; Goldman downgrades to Neutral.

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