Pre-Open Movers 3/19: Fannie (FNM), Freddie (FRE) Higher On Lifted Mortgate Liquidity, LM Ericsson (ERIC) Sinks on Sony Ericsson Profit Warning

March 19, 2008 9:27 AM EDT

StreetInsider.com Pre-Open Movers:

SI International, Inc. (Nasdaq: SINT) 17% LOWER; revised its previously announced first quarter and full year FY08 guidance. Based on current trends, the Company is now forecasting that revenues for first quarter FY08 will be between $128 million and $130 million. Net Income is expected to be in the range of $3.2 million to $3.6 million, and diluted earnings per share are expected to be between $0.24 and $0.27 on a weighted average share count of 13.4 million shares for the first quarter FY08. (Consensus is $136.44 million and $0.33, respectively)

Internap Network Services Corporation (NASDAQ: INAP) 15% LOWER; Delays 10K

Premier Exhibitions, Inc. (Nasdaq: PRXI) 13% HIGHER; has signed a ten year agreement with Luxor Resort & Casino in Las Vegas to develop a new exhibition complex

Bear Stearns (NYSE: BSC) 13% HIGHER; reports large shareholders are looking for a White Knight.

Focus Media Holding Ltd. (Nasdaq: FMCN) 12% HIGHER; reports Q4 EPS of $0.52, ex-items, 6 cents better than the analyst estimate of $0.46. Revenues for the quarter were $184.6 million, versus the consensus of $337.50 million. Sees Q1 EPS of $0.33-$0.34, versus the consensus of $0.33. Sees Q1 revs of $160-$165 million, versus the consensus of $157.5 million. Sees 2008 EPS of $2.06-$2.21, versus the consensus of $2.08. Sees 2008 revs of $900-$930 million, versus the consensus of $836 million

LM Ericsson Telephone Co. (NASDAQ: ERIC) 12% LOWER; Sony Ericsson Makes Profit Warning

James River Coal Company (Nasdaq: JRCC) 7% LOWER; has agreed to sell 3,000,000 shares, with an over-allotment option to sell up to an additional 450,000 shares, of its common stock in a public offering through UBS Investment Bank.

Monster Worldwide, Inc. (NASDAQ: MNST) 6.6% LOWER; expects to report Q1 total non-GAAP operating expenses in the range of $327-$333 million. The Company’s first quarter 2008 projected non-GAAP operating expenses, while consistent with its internal financial plan, appear to exceed the current analysts’ consensus expense levels.

AMERIGROUP Corporation (NYSE: AGP) 5.8% LOWER; has updated its guidance for the full year 2008 to $2.46 to $2.61 per diluted share from the previously announced range of $2.58 to $2.73 to reflect yesterday's Federal Reserve action reducing the Federal Funds Rate by 75 basis points, which will have a corresponding impact on market interest rates. (Consensus is $2.69 for FY08)

Adobe Systems (Nasdaq: ADBE) 5.7% HIGHER; reports Q4 EPS of $0.48, 3 cents better than the analyst estimate of $0.45. Revenues for the quarter were $890.4 million, versus the consensus of $875.84 million. Sees Q2 EPS of $0.45-$0.47, versus the consensus of $0.44. Q2 revs of $855-$885 million, versus $874.7 million. FY08 EPS of $1.86-$1.92, versus the Street estimate of $1.82.

National City Corporation (NYSE: NCC) 5% HIGHER; expects to report a first quarter 2008 pre-tax cash gain of approximately $450 million on the partial redemption of its equity interest in Visa.

Morgan Stanley (NYSE: MS) 5% HIGHER; reports Q1 EPS of $1.45, above the consensus of $1.03. Revenues came in at $8.3 billion, versus the consensus of $7.19 billion

Fannie Mae (NYSE: FNM) 5% HIGHER; Regulators reduce capital requirements for Fannie Mae and Freddie Mac from 30% to 20%. This will free up about $200 million for new home loan funding.

Freddie Mac (NYSE: FRE) 5% HIGHER; Regulators reduce capital requirements for Fannie Mae and Freddie Mac from 30% to 20%. This will free up about $200 million for new home loan funding.

Healthways (Nasdaq: HWAY) 4.5% LOWER; reports Q4 EPS of $0.33, in-line with analyst estimate of $0.33. Revenues for the quarter were $179 million, versus the consensus of $182.56 million. Healthways sees FY08 EPS of $1.50-$1.55, versus the consensus of $1.55.

Actuant Corp. (NYSE: ATU) 4% HIGHER; reports Q2 EPS of $0.43 ex-items, versus the consensus of $0.41. Revenues came in at versus the consensus of $385.23 million. Actuant sees Q3 EPS of $0.53-$0.57, versus the consensus of $0.53. Actuant sees FY08 EPS of $2.00-$2.07, versus the consensus of $2.01. Sees 2008 sales of $1.67-$1.69 billion, versus the consensus of $1.64 billion.

Perry Ellis International Inc. (Nasdaq: PERY) 2% HIGHER; will be added to the S&P SmallCap 600 after the close of trading on Thursday, March 20, 2008. PERY will take the place of Bell Microproducts.

General Mills (NYSE: GIS) 1.7% HIGHER; reports Q3 adj-EPS of $0.87, versus the consensus of $0.79. Revenues came in at $3.41 billion, versus the consensus of $3.24 billion. General Mills sees FY EPS of $3.45-$3.47, ex-items, versus the consensus of $3.47

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[LJ]

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