Pre-Open Movers 8/12: LDK Solar (LDK) Jumps On Strong Results; Comverge (COMV) Lower on Results/Guidance

August 12, 2008 9:30 AM EDT

StreetInsider.com Pre-Open Movers:

LDK Solar Co., Ltd. (NYSE: LDK) 18% HIGHER; reports Q2 EPS of $1.29, versus analyst estimate of $0.42. Revenues for the quarter were $441.7 million, versus the consensus of $282.04 million. Sees FY08 $1.65 billion to $1.75 billion versus $1.16 billion consensus.

Sonus Networks (Nasdaq: SONS) 16% LOWER; reports Q2 EPS of $0.00, in-line with the analyst estimate of $0.00. Revenues for the quarter were $87.9 million, versus the consensus of $86.22 million

DealerTrack Holdings, Inc. (Nasdaq: TRAK) 13% LOWER; Reports Q2 results, lowers FY guidance

GT Solar (Nasdaq: SOLR) 9% HIGHER; Blow-out resutls from large client LDK

AirMedia Group Inc. (Nasdaq: AMCN) 8% HIGHER; reports Q2 adjusted EPS of $0.12, 1 cent better than estimates. Total revenues increased 251.6% year-over-year and 37.9% sequentially to US$29.8 million vs. $27.71 million consensus. AirMedia currently expects that its total revenues for the third quarter of 2008 will be in an amount ranging from US$31.0 million to US$33.0 million, representing a year-over-year increase of 191.8% to 210.6% from the same period of 2007. (Q3 revenue consensus is $31.86 million). As a result of current business visibility, AirMedia currently expects that its total revenues for 2008 will be in an amount ranging from US$122.4 million to US$126.4 million, representing a year-over-year increase of 180.6% to 189.8% from fiscal year 2007. (Consensus is $119.38 million).

TurboChef Technologies, Inc. (NASDAQ: OVEN) 7% HIGHER; The Middleby Corporation (NASDAQ: MIDD) executed a definitive agreement to acquire TurboChef, in a cash and stock transaction valued at approximately $200 million, including TurboChef net cash of approximately $5 million as of June 30, 2008.

Air T, Inc. (Nasdaq: AIRT) 7% HIGHER; reports Q1 EPS of $0.55, compared to $0.25 in the same quarter last year. Revenues for the quarter were $22.42 million, compared to $15.796 million in Q107.
US Airways Group, Inc. (NYSE: LCC) 7% HIGHER; JPMorgan upgrades to Overweight

Northwest Airlines Corp. (NYSE: NWA) 6% HIGHER; JPMorgan upgrades to Neutral

ReneSola Ltd. (NYSE: SOL) 6% HIGHER; Blow-out resutls from LDK

Trina Solar Ltd. (NYSE: TSL) 6% HIGHER; Blow-out resutls from LDK

Delta Air Lines Inc. (NYSE: DAL) 5% HIGHER; JPMorgan upgrades to Neutral

Solarfun Power Holdings Co. Ltd. (Nasdaq: SOLF) 5% HIGHER; Blow-out resutls from LDK

Canadian Solar Inc. (Nasdaq: CSIQ) 5% HIGHER; Blow-out resutls from LDK

Spectrum Pharmaceuticals, Inc. (Nasdaq: SPPI) 5% HIGHER; reports Q2 EPS of $0.34, versus the consensus of a $0.34 loss. Revenue in the second quarter of 2008 was approximately $20.7 million from the sale of the Company’s financial interests in rights in sumatriptan and other injectables, compared to approximately $4.0 million in the second quarter of 2007.

Fluor Corporation (NYSE: FLR) 5% HIGHER; reports Q2 EPS of $1.13, which may not compare to the analyst estimate of $0.82. Revenues for the quarter were $5.77 billion, versus the consensus of $5.18 billion. Raises FY08 EPS range from $3.30-$3.45 to $3.65-$3.80, versus the consensus of $3.29.

Continental Airlines, Inc. (NYSE: CAL) 2% HIGHER; JPMorgan upgrades to Overweight

AMR Corporation (NYSE: AMR) 2% HIGHER; JPMorgan upgrades to Overweight

Physicians Formula Holdings (Nasdaq: FACE) INDICATED LOWER; reports Q2 loss of $0.14, versus the analyst estimate of ($0.08). Revenues for the quarter were $22.9 million, versus the consensus of $24.46 million. Sees fY08 EPS 52-57 cents which includes a 11 cent charge versus 69 cents consensus, prior guidance was 65 to 69 cents. Now, sees revenue $120M-$123M versus prior guidance of $123M to 125M versus $126.02M consensus.

Comverge (Nasdaq: COMV) INDICATED LOWER; reports Q2 loss of $0.45 per share, below the consensus of a $0.38 loss. Revenues came in at $9.5 million, versus the consensus of $13.4 million. Sees FY08 revenues of of $80-$90 million, versus the consensus of $99.41 million.

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