Pre-Open Movers 4/22: Meredith (MDP) Sinks On Lower Guidance, Syntax-Brillian (BRLC) Higher on Upgrade

April 22, 2008 9:46 AM EDT

StreetInsider.com Pre-Open Movers:

Meredith Corp. (NYSE: MDP) 27% LOWER; reports Q3 EPS of $0.98, in-line with the analyst estimate of $0.98. Revenues for the quarter were $401 million, versus the consensus of $405.32 million. Sees FY08 EPS in the range of $3.15-$3.20, versus the Street estimate of $3.49.

Omnicell, Inc. (Nasdaq: OMCL) 23% LOWER; reports Q1 EPS of $0.19, ex-items, 1 cent better than the analyst estimate of $0.18. Revenues for the quarter were $62.1 million, versus the consensus of $61.20 million.

Netflix (Nasdaq: NFLX) 18% LOWER; reports Q1 EPS of $0.21 ($0.23 ex-stock compensations expense), in-line with the analyst estimate of $0.21. Revenues for the quarter were $326.2 million, versus the consensus of $326.87 million. Sees Q2 EPS of $0.33-$0.42, versus the consensus of $0.39. Q2 revs of $334-$339 million, versus $335 million. Sees FY08 EPS of $1.16-$1.29, versus the consensus of $1.25.

Syntax-Brillian (Nasdaq: BRLC) 17% HIGHER; Baird ugprades to Outperform

BJ Services Company (NYSE: BJS) 15% LOWER' reports Q2 EPS of $0.43, 12 cents lower than the analyst estimate of $0.55. Revenues for the quarter were $1.28 billion, versus the consensus of $1.30 billion. Sees Q3 EPS in the range of $0.39-$0.43, versus the consensus of $0.50. BJ Services said, "We anticipate sequential revenue and margin improvement for our Oilfield Services group. We are projecting our Tubular Services business to recover from delays experienced during the second fiscal quarter. We are also expecting seasonal improvement from our Process & Pipeline Services business."

Volterra Semiconductor (Nasdaq: VLTR) 15% HIGHER; reports Q1 EPS of $0.13, 4 cents better than the analyst estimate of $0.09. Revenues for the quarter were $23 million, versus the consensus of $20.44 million.

CIT Group Inc. (NYSE: CIT) 13.6% LOWER; announced that it has commenced concurrent offerings of common stock and Non-Cumulative Perpetual Convertible Preferred Stock, Series C, with a liquidation preference of $50 per share, for an aggregate of $1 billion.

Zoran Corporation (Nasdaq: ZRAN) 12% HIGHER; reports Q1 EPS of $0.07, in-line with the analyst estimate of $0.07. Revenues for the quarter were $109 million, versus the consensus of $106.68 million. Sees Q2 adj-EPS of $0.14-$0.18, versus the consensus of $0.18.

MedcoHealth Solutions Inc. (NYSE: MHS) 7% HIGHER; reached agreement with UnitedHealth Group to provide pharmacy benefit services through Dec. 31, 2012

Corn Products (NYSE: CPO) 7% HIGHER; reports Q1 earnings of $0.85 per share, above the consensus of $0.71. Revenues came in at $930.9 million, versus the consensus of $867.9 million. Sees FY08 EPS of $2.90-$3.15 versus the consensus of $2.87.

Fuel-Tech, Inc. (Nasdaq: FTEK) 6% HIGHER; Jim Cramer highlights on Mad Money

Novellus Systems Inc. (Nasdaq: NVLS) 6% LOWER; Reports Q1 EPS of $0.15, 1 cent below the analyst estimate of $0.16. Revenues for the quarter were $314.7 million, versus the consensus of $315.45 million. Sees Q2 revs of $245-$260 million, versus the consensus of $315.2 million. Novellus sees Q2 EPS of a loss of $0.06 to break-even, versus the consensus of $0.23.

AU Optronics (NYSE: AUO) 4% HIGHER; reports Q1 earnings of $1.12 per share, well above the consensus of $0.48. Revenues came in at $4.5 billion, versus the consensus of $4.24 billion.

CME Group (NYSE: CME) 4% LOWER; reports Q1 earnings of $4.67 per share, ex-items, below the consensus of $4.80. Revenues came in at $625 million, versus the consensus of $629.3 milion.

Parker-Hannifin (NYSE: PH) 4% HIGHER; reports Q3 of $1.49 per share, above the consensus of $1.34. Revenues came in at $3.18 billion, versus the consensus of $3 billion. Sees FY08 EPS of $5.40-$5.60, versus prior guidance of $5.15-$5.40 and the consensus of $5.27

Autoliv Inc. (NYSE: ALV) 4% HIGHER; reports Q1 EPS of $1.11, 13 cents better than the analyst estimate of $0.98. Revenues for the quarter were $1.83 billion, versus the consensus of $1.79 billion.

National City Corporation (NYSE: NCC) 3.6% HIGHER DB upgrades to Buy

Boston Scientific (NYSE: BSX) 3% HIGHER; reports Q1 EPS of $0.24, which may not compare to the analyst estimate of $0.11. Revenues for the quarter were $2.05 billion, versus the consensus of $2.03 billion. Sees Q2 EPS of $0.14-$0.19, which may not compare to the consensus of $0.12. Sees Q2 sales of $1.95-$2.075 billion, versus the consensus of $2.02 billion.

Nabors Industries (NYSE: NBR) 3% HIGHER; reports Q1 EPS of $0.81, including items, which may not be comparable to the analyst estimate of $0.76. Revenues for the quarter were $1.32 billion, versus the consensus of $1.28 billion.

Peabody Energy Corp. (NYSE: BTU) 3% HIGHER; reports Q1 EPS of $0.26, 8 cents better than the analyst estimate of $0.18. Revenues for the quarter were $1.28 billion, versus the consensus of $1.25 billion. Sees Q2 EPS of $0.35-$0.60, versus the consensus of $0.52. For the FY08, Peabody sees EPS in the range of $2.20-$3.00, versus the Street estimate of $1.97.

SunTrust Banks (NYSE: STI) 3% LOWER; reports Q1 earnings of $0.81 per share, below the consensus of $1.02. Revenues came in at $2.23 billion, versus the consensus of $2.13 billion. As the deterioration of residential real estate markets continued in the first quarter of 2008, the Company increased its provision for loan losses to $560 million, increasing the ratio of allowance to total loans outstanding to 1.25% as of March 31, 2008. Annualized net charge-offs for the quarter of 0.97% of average loans were principally related to loans secured by residential real estate. During the quarter, the Company also recognized approximately $163.7 million in net valuation losses.

Texas Instruments (NYSE: TXN) 3% LOWER; reports Q1 EPS of $0.43, ex-items, in-line with the analyst estimate of $0.43. Revenues for the quarter were $3.27 billion, versus the consensus of $3.28 billion. Sees Q2 EPS of $0.42-$0.48, versus the consensus of $0.48. Sees Q2 revs of $3.24-$3.5 billion, versus the consensus of $3.44 billion.

Genzyme Corporation (Nasdaq: GENZ) 2% LOWER; said the FDA has informed the company of its opinion that Myozyme produced at the 160L bioreactor scale and Myozyme produced at the 2000L scale should be classified as two different products because of differences in the carbohydrate structures of the molecules. Myozyme sales for 2008 are now expected to be approximately $275-$285 million compared to previous guidance of $320-$330 million. Genzyme anticipates that this delay will have an impact on 2008 non-GAAP earnings of approximately $0.10 per diluted share. Genzyme now expects 2008 non-GAAP earnings of approximately $3.90 per diluted share, compared with previous guidance of $4.00 per diluted share (consensus is $4.01). GAAP earnings for 2008 are now expected to be approximately $2.65 per diluted share, compared with previous guidance of $2.75 per diluted share.

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