Morning Movers 11/14: Nokia (NOK) Lower On Outlook; Citi (C) Up On Insider Buys/Job Cuts

November 14, 2008 9:47 AM EST

StreetInsider.com Morning Movers

FUQI International, Inc. (Nasdaq: FUQI) 22% HIGHER; reports Q3 EPS of $0.31, 5 cents better than the analyst estimate of $0.26. Revenue for the quarter was $93.7 million, versus the consensus of $79.04 million. Sees Q4 EPS of $0.34-$0.36, versus the consensus of $0.33, and sales of $107-$112 million, versus the Street estimate of $108.18 million. For FY08, Fuqi sees EPS of $1.17-$1.20 and sales of $345-$350 million. The Street is expecting EPS of $1.14 and sales of $331.68 million

General Steel (NYSE: GSI) 20% LOWER; reports Q3 loss of ($0.17), cents better than the analyst estimate of ($0.02). Revenue for the quarter was 345.4 million, versus the consensus of $411.46 million.

Cypress Semiconductor Corp. (NYSE: CY) 13% LOWER; lowers Q4 guidance. Sees revenue of $165 million to $180 million, versus the consensus of $199 million. Non-GAAP fully diluted loss per share of ($0.03) to ($0.12), versus the consensusof a $0.04 profit.

Nokia (NYSE: NOK) 11% LOWER; said it now expects that the industry mobile device volumes will be lower in the fourth quarter 2008 than previously expected. Nokia now sees Q4 industry mobile device volumes of about 330 million. This would result in industry mobile volume of 1.24 billion in 2008, instead of the earlier estimated 1.26 billion units. Nokia's preliminary estimate is that the industry mobile device volumes will be down in 2009 compared to 2008.

Acergy SA (Nasdaq: ACGY) 9% LOWER; JP Morgan downgrade

Freddie Mac (NYSE: FRE) 8% LOWER; reports a Q3 loss of $19.44 per share. Freddie sees getting $13.8 billion from Treasury by Nov. 29.

Abercrombie & Fitch (NYSE: ANF) 8% LOWER; reports Q3 earnings of $0.72 per share, above the consensus of $0.71. Revenues came in at $896.3 million, versus the consensus of $909 million. Sees Q4 EPS of $1.00-$1.05 versus the consensus of $1.57.

Clean Energy Fuels (Nasdaq: CLNE) 7% LOWER; reports Q3 non-GAAP loss of $0.18, versus the analyst estimate of $0.22. Revenue for the quarter was $35.3 million, versus the consensus of $36.33 million.

Nordstrom (NYSE: JWN) 6% LOWER; reports Q3 EPS of $0.30, ex-items, 1 cent lower than the analyst estimate of $0.31. Revenue for the quarter was $1.81 billion, versus the consensus of $1.82 billion. Sees Q4 EPS of $0.35-$0.45, versus the consensus of $0.70. Sees FY08 EPS of $1.87-$1.97, versus the consensus of $2.21.

Motorola Inc. (NYSE: MOT) 5% LOWER; Nokia warning

Christopher & Banks Corporation (NYSE: CBK) 5% LOWER; expects to report a Q3 net loss per share from continuing operations of between $0.04 and $0.07 for the third quarter ended November 29, 2008, as compared to its previous guidance of net income per share from continuing operations in the range of $0.10 to $0.13.

Citi (NYSE: C) 4% HIGHER; Executives bought 1.2M shares to stop the slide in the stock. Also massive job cuts coming. Also, raising credit card rates.

Kohls Corporation (NYSE: KSS) 4% LOWER; reports Q3 EPS of $0.52, 1 cent better than the analyst estimate of $0.51. Revenue for the quarter was $3.8 billion, versus the consensus of $3.87 billion. Cuts Q4 EPS guidance from $1.26-$1.34 to $0.90-$1.05, versus the consensus of $1.23.

J. C. Penney Company, Inc. (NYSE: JCP) 3.6% LOWER; reports Q3 EPS of $0.56, 3 cents better than the analyst estimate of $0.53. Revenue for the quarter was $4.318 billion, versus the consensus of $4.39 billion. Sees sales falling 7-9%, with same store sales down 9-11%. Sees Q4 EPS of $0.90-$1.05, versus the consensus of $1.32.

Wynn Resorts, Limited (Nasdaq: WYNN) 3% LOWER; intends to offer, subject to market conditions and other factors, 5,000,000 newly issued shares of its common stock in conjunction with the November 10th announcement of the Company’s inclusion in the S&P 500.

Microsemi (Nasdaq: MSCC) 3% HIGHER; reports Q4 non-GAAP EPS of $0.36, in-line with the analyst estimate of $0.36. Revenue for the quarter was $134.7 million, versus the consensus of $134.26 million. Sees Q1 non-GAAP EPS of $0.36-$0.37, versus the consensus of $0.37.

MGM MIRAGE (NYSE: MGM) 1.5% LOWER; Chairman and CEO, Terry Lanni, has notified the company that he will retire from his executive positions, effective November 30, but will remain as a member of the Board of Directors.

LDK Solar Co.Ltd. (NYSE: LDK) 1% HIGHER; Morgan Stanley upgrades

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