Pre-Open Movers: Gilat Satellite (GILT) Lower As Buyout In Question; LDK Solar (LDK) Up on Guidance
StreetInsider.com Pre-Open Movers:
Gilat Satellite Networks Ltd. (Nasdaq: GILT) 15% LOWER; reports Q2 non-GAAP EPS of $0.03, versus the analyst estimate of $0.12. Revenues for the quarter were $65.6 million, versus the consensus of $74 million. Private equity investors verbally informed the Company that they will not close the merger transaction at the agreed upon $11.40 share price.
LDK Solar Co.Ltd. (NYSE: LDK) 6.9% HIGHER; sees 2009 revenues between $2.8 billion and $3.0 billion, versus the consensus of $2.43 billion. Expects wafer shipments between 1.45 GW to 1.55 GW.
Fannie Mae (NYSE: FNM) 6.8% LOWER; continue lower as traders question the GSEs fate.
Freddie Mac (NYSE: FRE) 5% LOWER; continue lower as traders question the GSEs fate.
CDC Corporation (NASDAQ: CHINA) 5% HIGHER; expects total revenues for the second half of 2008, to be in the range of approximately $208-$210 million, compared to approximately $205 million for the same period in 2007 and above the Wall Street consensus of approximately $206 million. In addition, the company expects Adjusted EBITDA for 2H08 to be about $8.0-$10.0 million, which compares to Adjusted EBITDA of $1.4 million for the comparable period in 2007 and Adjusted EBITDA of $5.1 million in 1H08.
Lehman Brothers (NYSE: LEH) 3% LOWER; Korea's banking regulator warned Korea Development Bank to take a cautious approach with regards to investing in a U.S. brokerage firm.
CF Industries Holdings, Inc. (NYSE: CF) 2.7% HIGHER; will replace EDS in the S&P 500
Firstenergy Corp. (NYSE: FE) 2% HIGHER; Positive Barron's article.
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