Pre-Open Movers 2/29: MasterCard (MA) Up On Strong EPS, Merck (MRK) Lower on Not Approvable Letter

April 29, 2008 9:31 AM EDT

StreetInsider.com Pre-Open Movers:

iBasis Inc. (Nasdaq: IBAS) 26% LOWER; reports Q1 loss of $0.03 does not compare to analyst estimate of $0.12. Revenues for the quarter were $324.9 million, versus the consensus of $357.50 million. Announces a $15M buyback.

Gildan Activewear (NYSE: GIL) 24% LOWER; sees Q2 adj-EPS of about $0.35, which is lower than its previously issued guidance of $0.42 and versus the Street consensus of $0.42. Also lowers its FY08 guidance from $1.85-$1.90 to $1.45-$1.50, versus the consensus of $1.90.

LCA Vision (Nasdaq: LCAV) 20% LOWER; reports Q1 EPS of $0.37, 11 cents below the analyst estimate of $0.48. Revenues for the quarter were $79.6 million, versus the consensus of $86.21 million. I guess lasik is not as popular in '08.

Intevac, Inc. (Nasdaq: IVAC) 19% LOWER; reports Q1 EPS of $0.07 versus the analyst estimate of $0.02 loss - may not be comparable. Revenues for the quarter were $33.2 million, versus the consensus of $31.76 million. (Net income included $1.6 million of pre-tax stock-based compensation expense, equivalent to $0.04 per diluted share. First quarter earnings included a $1.3 million net tax benefit, equivalent to $0.06 per diluted share)

TheStreet.com (Nasdaq: TSCM) 13% LOWER; reports Q1 EPS of $0.07, 3 cents below the analyst estimate of $0.10. Revenues for the quarter were $18.9 million, versus the consensus of $20 million. StreetInsider.com wrote an article last week that TheStreet would likely come in slightly below estimates.

Heidrick & Struggles (Nasdaq: HSII) 13% LOWER; reports Q1 earnings of $0.38 per share, below the consensus of $0.60. Revenues came in at $153.1 million, versus the consensus of $155.9 million. Heidrick & Struggles reaffirms forecast.

McDermott International (NYSE: MDR) 13% LOWER; sees Q1 EPS of $0.50-$0.54, versus the consensus of $0.69. Sees Q1 revenues of $1.415-$1.46 billion, versus the consensus of $1.59 billion. McDermott said the Offshore Oil & Gas Construction segment was adversely affected by external events in the three-month period ending March 31, 2008, which is expected to moderate both segment revenues and segment income for the 2008 first quarter.

Ladish (Nasdaq: LDSH) 11.6% LOWER; reports Q1 EPS of $0.41, 16 cents below the analyst estimate of $0.57. Revenues for the quarter were $117.2 million, versus the consensus of $114.34 million

Masco (NYSE: MAS) 10% LOWER; reports Q1 EPS of $0.07 (may not compare), versus the analyst estimate of $0.21. Revenues for the quarter were $2.45 billion, versus the consensus of $2.52 billion. Masco sees FY08 EPS 50-64 cents versus prior guidance of 85c-$1.15, consensus is $1.03.

Under Armour (NYSE: UA) 10% LOWER; reports Q1 earnings of $0.06 per share, 3 cents better than estimates. Revenues came in at $157.3 million, versus the consensus of $153.7 million. Reaffirms FY08 revenue guidance of $765-$775 million.

Ultra Clean Holdings (Nasdaq: UCTT) 10% LOWER; reports Q1 EPS of $0.09, 3 cents lower than the analyst estimate of $0.12. Revenues for the quarter were $92.4 million, versus the consensus of $93.83 million. Sees Q2 loss of $0.03-to EPS of $0.03, versus the consensus of a $0.17 gain. Sees Q2 revs of $67-$74 million, versus $96.6 million.

Digi International Inc. (Nasdaq: DGII) 9.3% LOWER; reports Q1 EPS of $0.12, below the analyst estimate of $0.15. Revenues for the quarter were $43.1 million, versus the consensus of $46.97 million. Sees FY08 revs of $180-$192 million, versus the consensus of $197.2 million. Sees FY08 EPS of $0.46-$0.62, ex-items, versus the consensus of $0.70.

Trident Microsystems (Nasdaq: TRID) 9% LOWER; reports Q3 EPS of $0.08, 4 cents below the analyst estimate of $0.12. Revenues for the quarter were $55.3 million, versus the consensus of $56.47 million. Sees Q4 EPS breakeven versus consensus of 6c profit. Sees Q4 revenues $38-$41 million versus consensus of $48.7 million.

MasterCard (NYSE: MA) 8% HIGHER; reports Q1 earnings of $3.01, or $2.59 per share ex-items, well ahead of the consensus of $2.00. Revenues came in at $1.18 billion, versus the consensus of $1.07 billion.

Titan Machinery (Nasdaq: TITN) 7.9% LOWER; reports Q4 EPS of $0.27, 6 cents better than the analyst estimate of $0.21. Revenues for the quarter were $135 million, versus the consensus of $128.82 million. Sees FY09 EPS of $0.87-$0.92, versus the consensus of $0.70. Also announced plans to offer 3.5 million shares.

Merck & Co. (NYSE: MRK) 7% LOWER; received a Not Approvable action letter from the FDA for the Company's New Drug Application (NDA) for MK-0524A (ER niacin/laropiprant) for the treatment of primary hypercholesterolemia or mixed dyslipidemia

Flowserve Corporation (NYSE: FLS) 7% HIGHER; reports Q1 EPS of $1.53, versus the analyst estimate of $0.94. Revenues for the quarter were $993 million, versus the consensus of $930.26 million. Raises FY08 EPS target to $5.90-$6.20, versus the consensus of $5.39.

Spherion Corporation (NYSE: SFN) 6% LOWER; reports Q1 EPS of $0.05, 1 cent lower than the analyst estimate of $0.06. Revenues for the quarter were $576 million, versus the consensus of $579.19 million. Sees Q2 EPS of $0.06-$0.11, versus the consensus of $0.12. Sees Q2 revs of $570-$585 million, versus $587.5 million.

Apogee Enterprises Inc. (Nasdaq: APOG) 6% HIGHER; Jim Cramer highlights on Mad Money

Texas Roadhouse (Nasdaq: TXRH) 5.5% HIGHER; reports Q1 EPS of $0.17, 2 cents better than the analyst estimate of $0.15. Revenues for the quarter were $211.2 million, versus the consensus of $216.34 million.

The McGraw-Hill Companies (NYSE: MHP) 5% LOWER; reports Q1 EPS of $0.25, 2 cents better than the analyst estimate of $0.23. Revenues for the quarter came in at $1.2 billion, versus the consensus of $1.22 billion. Sees FY08 EPS in the range of $2.65-$2.75, versus the consensus of $2.85.

Tenet Healthcare Corp. (NYSE: THC) 4.8% LOWER; DB downgrades to Hold. Citi starts at Sell

Gen-Probe (Nasdaq: GPRO) 4% HIGHER; reports Q1 EPS of $0.58, 8 cents better than the analyst estimate of $0.50. Revenues for the quarter were $122.6 million, versus the consensus of $116.65 million. Sees full year EPS $1.72-$1.76 versus consensus of $1.70.

Visa Inc. (NYSE: V) 4% LOWER; reports Q1 EPS of $0.52, ex-items, 7 cents better than the analyst estimate of $0.45 (Bloomberg estimate). Revenues for the quarter were $1.5 billion, versus the consensus of $1.49 billion. Sees yearly revenue up 11-15% and sees adjusted Class A EPS growth of 20% or more.

Double Hull Tankers, Inc. (NYSE: DHT) 4% LOWER; Plans to offer 7M shares.

Microchip Technology (Nasdaq: MCHP) 3.8% HIGHER; reports Q4 EPS of $0.42, 5 cents better than the analyst estimate of $0.37. Revenues for the quarter were $260.4 million, versus the consensus of $257 million. Sees Q1 EPS of $0.43-$0.45, versus the consensus of $0.39.

Corning (NYSE: GLW) 3% HIGHER; reports Q1 EPS of $0.44, ex-items, 2 cents better than the analyst estimate of $0.42. Revenues for the quarter came in at $1.62 billion, versus the consensus of $1.59 billion. Sees Q2 revs in the range of $1.71-$1.75 billion, versus the consensus of $1.67 billion. Sees Q2 EPS in the range of $0.47-$0.50., versus the consensus of $0.43.

Potash (NYSE: POT) 2.9% LOWER; RBC Downgrades to Outperform

Wachovia (NSYE: WB) 1% HIGHER; DB upgrades Wachovia from Hold to Buy, saying the stock is cheap versus franchise value and normalized EPS.

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