Pre-Open Movers 7/2: Family Dollar (FDO) Jumps On Strong Results; Circuit City (CC) Lower After Blockbuster Walks

July 2, 2008 9:29 AM EDT

StreetInsider.com Pre-Open Movers:

MiddleBrook Pharmaceuticals, Inc. (Nasdaq: MBRK) 50% LOWER; said completed its previously announced review of strategic alternatives and has entered into an agreement with Equity Group Investments, L.L.C. for a $100 million equity investment in the Company.

Aladdin Knowledge Systems Ltd. (Nasdaq: ALDN) 23% LOWER; sees Q2 revenues between $26.0 million and $26.5 million and non-GAAP EPS of $0.04. The consensus is $30.3 million and $0.27. Aladdin sees FY08 revenues between $112.0 million and $120.0 million and non-GAAP EPS of $0.48 to $0.56. The consensus is $125.8 million and $1.13.

Apollo Group (Nasdaq: APOL) 18% HIGHER; reports Q3 EPS of $0.85, 7 cents better than the analyst estimate of $0.78. Revenues for the quarter were $835.2 million, versus the consensus of $806.89 million. Announces a $500 million buyback

Blockbuster Inc. (NYSE: BBI) 15% HIGHER; announced that is has decided to withdraw its proposal to acquire Circuit City.

Circuit City (NYSE: CC) 10% LOWER; Blockbuster has decided to withdraw its proposal to acquire the company.

Family Dollar (NYSE: FDO) 10% HIGHER; reports Q3 earnings of $0.46 per share, above the consensus of $0.40. Revenues came in at $1.7 billion, versus the consensus of $1.7 billion. Sees Q4 EPS of $0.30-$0.35 versus the consensus of $0.29. Sees FY EPS of $1.58-$1.63, versus the consensus of $1.51.

Lithia Motors, Inc. (NYSE: LAD) 9% LOWER; is withdrawing its earnings guidance for the second quarter and year-end 2008.

Verasun Energy, Corp. (VSE) 8% HIGHER; Oppenheimer upgrades to Outperform

Yahoo! Inc. (Nasdaq: YHOO) 7.7% HIGHER; reports from the Wall Street Journal that Microsoft (Nasdaq: MSFT) is looking for a partner for a new run at Yahoo's search business. The Journal said Microsoft held talks with Time Warner (NYSE: TWX) and News Corp (NYSE: NWS), among others. The talks are considered preliminary and not likely to result in a deal.

ArvinMeritor, Inc. (NYSE: ARM) 7% HIGHER; sees strong Q3 and full year. ArvinMeritor expects sales for the third quarter of approximately $2 billion, up 20% from last year and above the Wall Street consensus of $1.87 billion. For the full fiscal year, the company now anticipates earnings at the high end of its previous guidance range of $1.40 to $1.60. The Wall Street consensus is $1.36.

Starbucks Corporation (NASDAQ: SBUX) 6.5% HIGHER; announced the next step in its multi-faceted plan to transform the company, with a decision to close approximately 600 underperforming company-operated stores in the U.S. market. This decision is a result of a rigorous evaluation of the U.S. company-operated store portfolio and includes the 100 stores targeted for closure in the company's previously announced plans. In addition, Starbucks now expects to open fewer than 200 new U.S. company-operated stores in fiscal 2009.

Allscript (Nasdaq: MDRX) 5% HIGHER; Cramer highlights on Mad Money

Unitedhealth Group, Inc. (NYSE: UNH) 5% HIGHER; Up despite lowering guidance.

Lincare Holdings Inc. (Nasdaq: LNCR) 5% LOWER; Lehman downgrades to Equal Weight

Fifth Third Bancorp (Nasdaq: FITB) 4.9% LOWER; Baird upgrades to Outperfor

General Motors (NYSE: GM) 4.6% LOWER; Merrill Lynch downgrades General Motors from Buy to Underperform and lowers their price target from $28 to $7, saying a larger capital raise is needed and bankruptcy is not impossible.

Dish Network Corp. (Nasdaq: DISH) 3% LOWER; In an 8-K filing Dish Network Corp. (Nasdaq: DISH) disclosed it received a notice of termination from AT&T (NYSE: T) under the Commercial Agreement.
Concur Technologies, Inc. (Nasdaq: CNQR) 2% LOWER; Piper downgrades to Neutral.

Dell Inc. (Nasdaq: DELL) 2% HIGHER; Chairman/CEO Michael Dell bought 4,503,600 shares from 06/27-07/01 at prices from $21.89-$22.39.This brings his stake to 250,174,723 shares.

Technitrol, Inc. (NYSE: TNL) INDICATED LOWER; expects to report Q2 revenues of approximately $320 million and operating profit, excluding severance and asset-impairment expenses and purchase accounting adjustments, of approximately $12 million. The revised outlook compares with earlier guidance of approximately $330 million for revenues and $25 million for operating profit on the same basis.

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