Pre-Open Movers 03/07: Reddy Ice Holdings (FRZ) Sinks On Fed Search Warrant, Ambac (ABK) Down On Offering

March 7, 2008 9:25 AM EST

StreetInsider.com Pre-Open Movers:

PeopleSupport, Inc. (Nasdaq: PSPT) 25% LOWER; reports Q4 EPS of $0.81, which may not compare to the analyst estimate of $0.29. Revenues for the quarter were $35.9 million, versus the consensus of $36.42 million. Sees FY08 revs of $162-$170 million, versus the Street estimate of $184.4 million. Sees Q1 revs of $35-$36 million, versus $40.9 million. Sees FY08 EPS of $0.47-$0.58, which may not compare to the consensus of $0.75. Q1 EPS of $0.11-$0.12, which may not compare to the consensus of $0.17. Announces a $25 million share repurchase program.

Reddy Ice Holdings, Inc. (NYSE: FRZ) 21% LOWER; announced that federal officials executed a search warrant at the Company's corporate office in Dallas on March 5, 2008.

Microvision Inc. (Nasdaq: MVIS) 19% HIGHER; reports a Q4 loss of $0.11, in-line with the analyst estimate of ($0.11). Revenues for the quarter were $2.99 million, versus the consensus of $2.86 million.

Copart (Nasdaq: CPRT) 13% LOWER; reports Q2 EPS of $0.35, 5 cents lower than the analyst estimate of $0.40. Revenues for the quarter were $173.5 million, versus the consensus of $179.33 million

Building Materials Holding Corporation (NYSE: BLG) 13% LOWER; reports a Q4 loss of $0.97, versus the analyst estimate of ($0.22). Revenues for the quarter were $419 million, versus the consensus of $406.85 million.

Ambac Financial Group, Inc. (NYSE: ABK) 11% LOWER; priced its $1.155 billion public offering of 171,111,111 shares of common stock, par value $0.01 per share, at $6.75 per share and has granted the underwriters a 30-day option to purchase up to an additional 25,666,667 shares of common stock to cover over-allotments, if any.

National Semiconductor (NYSE: NSM) 9% HIGHER; reports Q3 EPS of $0.28, 4 cents better than the analyst estimate of $0.24. Revenues for the quarter were $453.4 million, versus the consensus of $457.43 million. Sees Q4 sales of $440-$460 million, versus the consensus of $470.3 million.

Horsehead Holding (Nasdaq: ZINC) 8% LOWER; Friedman Billings downgrades Horsehead Holding from Outperform to Market Perform, citing current valuation. Price target lowered to $18.

Allied Capital Corporation (NYSE: ALD) 7% LOWER; To offer 4 million shares

Smith & Wesson Holding (Nasdaq: SWHC) 5% HIGHER; reports a Q3 loss of $0.04, 2 cents better than estimates. Revenues were $66.07 million vs. $55.02 million consensus.

Ciena (Nasdaq: CIEN) 5% HIGHER; reports Q1 earnings of $0.47 per share, ex-items, above the consensus of $0.40. Revenues came in at $227.4 million, versus the consensus of $225.6 million.

The Cooper Companies, Inc. (NYSE: COO) 4.8% HIGHER; reports Q4 EPS of $0.45, in-line. Revenues for the quarter were $245 million, versus the consensus of $245.85 million. Sees 2008 revenues $1.06 billion-$1.1 billion versus $1.05 billion. Sees full year EPS of $2.10-$2.35 versus consensus of $2.36

Blockbuster Inc (NYSE: BBI) 4% HIGHER; Citi adds Blockbuster to the 'Top Picks Live' List. Price target $8.

Legg Mason, Inc. (NYSE: LM) 4% LOWER; obtained a letter of credit from a large bank to provide support to a Structured Investment Vehicle (SIV) holding in a money market fund.

Dr. Reddy's (NYSE: RDY) 3.8% HIGHER; Citi downgrades Dr. Reddy's from Buy to Hold.

Marvell Technology Group Ltd (Nasdaq: MRVL) 3% LOWER; reports Q4 EPS of $0.20, 9 cents better than the analyst estimate of $0.11. Revenues for the quarter were $845 million, versus the consensus of $782.65 million.

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