Morning Movers 07/07: (LOCM) (GENE) Higher; (XXIA) (ARX) (ALV) Lower

Ixia (Nasdaq: XXIA) 23.9% LOWER; posts preliminary Q2 sales of $67-$69 million, compares to prior guidance of $78-$82 million, and versus the Street estimate of $80.54 million. Adj-EPS move from 14-17c to 7-8c, which compares to the Street estimate of 16c. The company said sales were impacted by several factors, including lower than expected sales from Asia Pacific and from certain large equipment makers, as well as orders received late in the quarter.

Aeroflex (NYSE: ARX) 17.1% LOWER; lowers its Q4 sales guidance to $198-$200 million and its adj-EBITDA guidance to $56-$59 million amid delays in shipment approvals from orders of test equipment by US government entities. The company had previously guided Q4 sales to $220-$228 million. The Street is currently expecting quarterly sales of $224.02 million. The stock was also downgraded at Oppenheimer.

Local.com Corp. (Nasdaq: LOCM) 14.8% HIGHER; reports entering into a Google Services Agreement with Google, Inc. (Nasdaq: GOOG). The Agreement provides for the implementation by Local.com of certain advertising and search services on certain websites, subject to the Registrant's compliance with certain policy and compliance obligations as more fully described in the Agreement. The effective date of the Agreement is August 1, 2011 and it ends on July 31, 2013.

Genetic Technologies (Nasdaq: GENE) 8.3% HIGHER; continuing higher today following a 7.7 percent run-up yesterday. Shares are up a whopping 76 percent since June 17. The stock has pushed over the $8 level today.

Autoliv (NYSE: ALV) 8% LOWER; offered information on its antitrust inquiries: says DoJ, EC investigations are still ongoing. The company says it will likely see a material profit impact during the affected periods, however it is currently unable to estimate the impact.

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