Morning Movers 4/15: PJC, SYT, GM, IP, CSX Higher; GRRF, CYNO, RJF, BKC, FSC, BTU, SKYW Lower

April 15, 2009 9:33 AM EDT

China GrenTech Corp. (Nasdaq: GRRF) 23.9% LOWER; reports Q4 loss of $0.01, versus the analyst estimate of ($0.54) and compared to a gain in Q407. Revenue for the quarter was $75.4 million, versus the consensus of $75.58 million. Sees Q1 sales in the range of RMB280-RMB310 million.

Cynosure, Inc. (Nasdaq: CYNO) 15.5% LOWER; sees Q1 sales of $14-$15 million, compared to sales of $36.8 million in Q108 and versus the analyst estimate of $24.36 million. Sees a GAAP loss of $0.30-$0.34 for the quarter. The Street is currently expecting non-GAAP EPS of $0.09.

Raymond James Financial (NYSE: RJF) 14.8% LOWER; announced today that results for its Q2 will be well below the current consensus analysts' estimate of $0.37 per share. Goto http://www.streetinsider.com/Guidance/Raymond+James+%28RJF%29+Sees+Q2+EPS+Well+Below+Street+Estimtes/4561405.html to see the full report.

Burger King (NYSE: BKC) 14.7% LOWER; reports preliminary Q3 EPS of $0.33-$0.35, versus the consensus of $0.33. Q3 revs came in at $600 million, versus the Street estimate of $625.79 million. Same store sales rose 1% during the quarter.

Fifth Street Finance Corp. (NYSE: FSC) 11% LOWER; today announced that its Board has approved a 24% reduction in its quarterly dividend from $0.33 to $0.25 per common share. The dividend will be payable on June 25 to shareholders of record on May 26.

Piper Jaffray (NYSE: PJC) 10.8% HIGHER; reports Q1 loss of $0.17, cents better than the analyst estimate of ($0.23). Piper Jaffray's revenue for the quarter was $83.9 million, versus the consensus of $81.45 million.

Peabody Energy (NYSE: BTU) 8.8% LOWER; reports Q1 EPS of $0.50, versus the analyst estimate of $0.93. Revenue for the quarter was $1.46 billion, versus the consensus of $1.62 billion. Click here for the full report.

SkyWest, Inc. (Nasdaq: SKYW) 8.7% LOWER; sees Q1 EPS lower than previously anticipated: in the range of $0.08-$0.13, versus the consensus of $0.34.

Syngenta (NYSE: SYT) 6.9% HIGHER; reported a 7% increase in Q1 sales to $3.6 billion. More from the release. Following the news, UBS upgraded shares of Syngenta to Buy.

General Motors (NYSE: GM) 6.7% HIGHER; moving higher on no specific news.

International Paper (NYSE: IP) 6% HIGHER; Deutsche Bank upgrades IP from Hold to Buy. Price target $11. Click here for the full report.

CSX Corporation (NYSE: CSX) 5.8% HIGHER; reports Q1 EPS of $0.62, 11 cents better than the analyst estimate of $0.51. Revenue for the quarter was $2.2 billion, versus the consensus of $2.26 billion.

Starbucks (Nasdaq: SBUX) 5.7% LOWER; Deutsche Bank downgrades from Hold to Sell. Click here for more color.

Infosys Technologies (NASDAQ: INFY) 5.3% LOWER; reports Q4 EPS of $0.55, 1 cent better than the analyst estimate of $0.54. Revenue for the quarter was $1.12 billion, versus the consensus of $1.13 billion. Sees Q1 sales of $1.06-$1.08 billion, versus the consensus of $1.13 million, with EPS of about $0.47, versus the Street estimate of $0.50. For FY10, sales are expected to be in the range of $4.35-$4.52 billion with EPS of $1.91-$2.00. The Street is currently expecting sales and EPS of $4.67 billion and $2.14, respectively.

Energy Transfer Partners, L.P. (NYSE: ETP) 5.3% LOWER; has commenced a public offering of 7,500,000 common units representing limited partner interests, with a 30-day option for the underwriters to purchase up to an additional 1,125,000 common units. Net proceeds from the offering will be used by ETP to fund capital expenditures, and capital contributions to joint venture entities, related to pipeline construction projects, as well as for general partnership purposes.

Intel Corporation (Nasdaq: INTC) 4.7% LOWER; reports Q1 EPS of $0.11, 8 cents better than the analyst estimate of $0.03. Revenue for the quarter was $7.145 billion, versus the consensus of $6.98 billion. Sees Q2 revs unchanged from Q1. Sees Q2 gross margin in the mid-40's range. Sees FY09 capital spending slightly down from 2008. Believes PC sales "bottomed out" during Q1. The Street is currently expecting Q2 sales of $7.05 billion.

Abbott Laboratories (NYSE: ABT) 4.6% LOWER; reports Q1 EPS of $0.73, versus the consensus of $0.70. Revenues came in at $6.72, versus the consensus of $7.06 billion. Abbott Laboratories sees Q2 EPS of $0.87-$0.89, versus the consensus of $0.88. Abbott Laboratories sees FY EPS fo $3.65-$3.70, versus the consensus of $3.67.

Dendreon (Nasdaq: DNDN) 4.5% HIGHER; momentum is continuing today following yesterday's 130% move on news that a Phase 3 IMPACT study on PROVENGE met its primary endpoint.

UIL Holdings (NYSE: UIL) 4.4% HIGHER; Baird upgrades from Neutral to Outperform. Price target $30.

Cabot Microelectronics Corporation (Nasdaq: CCMP) 4.4% LOWER; announced today that the global economic environment continued to adversely affect the company's financial results in its Q2. Consistent with the overall industry, the company's revenue declined significantly in its second fiscal quarter, reflecting the impact of the global economic recession on demand for electronics, a correction of excess semiconductor device inventories, and traditional seasonal weakness. Sees Q2 sales of $45-$46 million, which compares to the analyst estimate of $46.80 million. Click here for the full report.

First Niagara Financial Group, Inc. (Nasdaq: FNFG) 3.9% LOWER; priced an underwritten public offering of 27,000,000 shares of the Company's common stock at a price to the public of $12.25 per share for gross proceeds of approximately $330.8 million.

Dr Pepper Snapple Group, Inc. (NYSE: DPS) 3.8% HIGHER; Goldman Sachs added the stock to its Conviction Buy List, citing better than expected fundamental trends and valuation.

ADTRAN Inc. (Nasdaq: ADTN) 3.8% HIGHER; reports Q1 EPS of $0.24, versus the consensus of $0.23. Revenues came in at $110.4 million, versus the consensus of $109 million.

Fidelity National Financial, Inc. (NYSE: FNF) 3.6% LOWER; announced last night that it has priced its offering of 15,800,000 shares of its common stock at $19.00 per share. Click here for the full report.

Lufkin Industries, Inc. (Nasdaq: LUFK) 3.3% LOWER; reports Q1 EPS of $0.74, ex-items, versus the analyst estimate of $1.42. Revenue for the quarter was $153.1 million, versus the consensus of $187.69 million.

LDK Solar Co., Ltd. (NYSE: LDK) 2.8% HIGHER; secured a loan for RMB 200 million (equivalent to approximately US$29 million) from China Development Bank and received approval for a RMB 1 billion (equivalent to approximately US$146 million) credit line from Agricultural Development Bank of China. Click here for the full report.

Tsakos Energy Navigation (NYSE: TNP) 2.6% LOWER; J.P. Morgan downgrades from Neutral to Underweight.

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