Morning Movers 11/20: Suntech (STP) Sinks On Results/Guidance, Citi (C) Lower Despite Prince Alwaleed Backing

November 20, 2008 9:45 AM EST

StreetInsider.com Morning Movers:

Targanta Therapeutics Corp. (Nasdaq: TARG) 78% LOWER; the Advisory Committee voted by a narrow margin of 8-10 (against) that the data presented demonstrate the safety and effectiveness of oritavancin for the treatment of cSSSI.

VeriFone Holdings, Inc. (NYSE: PAY) 28% LOWER; said today that based on preliminary financial results, net revenue for Q4 is expected to be in the range of $244-$246 million, or below the range provided as guidance on September 9, 2008. Net revenue for FY08 is expected to be in the range of $922-$924 million. The Street is currently estimate Q4 sales of $263.56 million and FY08 sales of $940.88 million. On the earnings front, VeriFone sees non-GAAP Q4 EPS of $0.18-$0.20, and FY08 EPS of $0.73-$0.75. The Street estimates are for Q4 EPS of $0.25 and FY08 EPS of $0.87.

Suntech Power (NYSE: STP) 22% LOWER; reports Q3 earnings of $0.35 per share, ex-items, below the onsensus of $0.42. Revenues came in at $594.4 million, versus the consensus of $571.7 million. Suntech Power sees Q4 revenues of $345-$360 million, versus the consensus of $614.78 million. Suntech Power sees FY08 revenues of $1.85-$1.87 billion, versus prior guidance of $2.05-$2.15 billion and the consensus of $2.11 billion. Suntech cited the depreciation of the Euro versus the U.S. dollar combined with the impact of tighter credit markets. Suntech has revised its full year 2008 PV product shipment target from 550MW to approximately 490MW.

Eagle Bulk Shipping Inc. (Nasdaq: EGLE) 18% LOWER; JP Morgan downgrades to Underweight.

Amedisys Inc. (Nasdaq: AMED) 15% LOWER; Deutsche Bank downgrades to Hold

Patterson Companies, Inc. (Nasdaq: PDCO) 13% LOWER; reports Q2 EPS of $0.40, 6 cents lower than the analyst estimate of $0.46. Revenue for the quarter was $759.46 million, versus the consensus of $800.68 million. Patterson Companies sees Q3 EPS $0.43 to $0.45 versus consensus of $0.53.  Patterson Companies sees FY09 EPS $1.73-$1.77 versus consensus of $1.94.

Gymboree Corp. (Nasdaq: GYMB) 12% HIGHER; JP Morgan upgrades to Overweith

Petsmart (Nasdaq: PETM) 12% HIGHER; reports Q3 EPS of $0.28, 2 cents better than the analyst estimate of $0.26. Revenue for the quarter was $1.25 billion, versus the consensus of $1.24 billion. Petsmart sees Q4 EPS 59c-62c versus 60 cents consensus.

RBS (NYSE: RBS) 11% HIGHER; may receive backing from investors to raise 20 billion pounds

A-Power Energy (Nasdaq: APWR) 8% LOWER; reports Q3 EPS of $0.28, 4 cents lower than the analyst estimate of $0.32. Revenue for the quarter was $85.4 million, versus the consensus of $100.50 million.

Woodward Governor (Nasdaq: WGOV) 7% LOWER; reports Q4 EPS of $0.50, in-line with the analyst estimate of $0.50. Revenue for the quarter was $350.5 million, versus the consensus of $343.50 million. Sees FY09 sales of $1.4-$1.5 billion and EPS of $1.65-$1.90. The Street is currently expecting sales of $1.47 billion and EPS of $2.04.

GameStop Corp. (NYSE: GME) 6% LOWER; reports Q3 EPS of $0.38, ex-items, 1c better than the analyst estimate of $0.37. Revenue for the quarter was $1.695 billion, versus the consensus of $1.82 billion. Sees Q4 EPS of $1.29-$1.34, versus the consensus of $1.37, with same store sales up 4-5%. For FY08, sees EPS of $2.35-$2.40, versus the Street estimate of $2.46, with same store sales up 10-11%.

Capella Education Co. (NASDAQ: CPLA) 4.8% HIGHER; will replace Photronics Inc. (NASDAQ: PLAB) in the S&P SmallCap 600.

Dick's Sporting Goods (NYSE: DKS) 4.7% HIGHER; reports Q3 earnings of $0.07 per share, above the consensus of $0.06. Revenues came in at $924.2 million, versus the consensus of $914.8 million. Dick's Sporting sees Q4 EPS of $0.49-$0.56 versus the consensus of $0.62 million.

Oil States International Inc. (NYSE: OIS) 3.6% HIGHER; will replace Select Comfort Corp.(NASDAQ: SCSS) in the S&P SmallCap 600.

Citigroup, Inc. (C) 4% LOWER; Prince Alwaleed Plan To Increase Stake In Citi (C) Back to 5%.

Shoe Carnival (Nasdaq: SCVL) 3% LOWER; reports Q3 EPS of $0.21, versus the analyst estimate of $0.30. Revenue for the quarter was $170.1 million, versus the consensus of $178.17 million.

Hot Topic (Nasdaq: HOTT) 2% HIGHER; reports Q3 EPS of $0.17, 1 cent better than the analyst estimate of $0.16. Revenue for the quarter was $197.3 million, versus the consensus of $195.75 million. Reaffirms its Q4 EPS guidance of $0.25-$0.28, versus the Street estimate of $0.27.

Southern Union Co. (NYSE: SUG) 2% HIGHER; will replace Avis Budget Group Inc. (NYSE: CAR) in the S&P MidCap 400.

Interwoven Inc. (NASDAQ: IWOV) 2% HIGHER; will replace CPI Corp. (NYSE: CPY) in the S&P MidCap 400.

Intuit (Nasdaq: INTU) 1.4% HIGHER; reports Q1 loss of $0.09, ex-items, 3 cents better than the analyst estimate of ($0.12). Revenue for the quarter was $481 million, versus the consensus of $483.36 million.
Sees Q2 EPS of $0.40-$0.42, versus the Street estimate of $0.46, and revs of $860-$880 million, versus the consensus of $900.2 million. For FY09, Intuit sees revs of $3.26-$3.38 billion, versus the consensus of $3.33 billion, and EPS of $1.82-$1.89, versus the consensus of $1.84.

ManTech International Corp. (NASDAQ: MANT) 1.4% HIGHER; will replace Media General Inc. (NYSE: MEG) in the S&P MidCap 400.

Dress Barn (Nasdaq: DBRN) 1.3% HIGHER; reports Q1 EPS of $0.32, 5 cents better than the analyst estimate of $0.27. Revenue for the quarter was $376.4 million, versus the consensus of $370.40 million. Sees FY09 EPS of $0.90-$1.00, versus the consensus of $1.15.

Cyberonics (Nasdaq: CYBX) 0.5% HIGHER; reports Q2 EPS of $0.14, which may not compare to the analyst estimate of $0.06. Revenue for the quarter was $36 million, versus the consensus of $34.19 million. Raises its FY09 sales guidance to $136-$140 million, versus the consensus of $138.44 million.

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