Pre-Open Movers 3/26: Clearwire (CLWR) and Sprint (S) Up WiMax Venture, Motorola (MOT) Up on Split

March 26, 2008 9:31 AM EDT

StreetInsider.com Pre-Open Movers:

Clear Channel Communications (NYSE: CCU) 21% LOWER; According to reports from the Wall Street Journal, the $19 billion buyout of Clear Channel is near collapse as the private equity firms behind the deal, Thomas H. Lee and Bain Capital Partners, and the banks failed to resolve differences over the terms of the financing.

Clearwire Corporation (Nasdaq: CLWR) 16% HIGHER; Sprint and Clearwire are higher this AM on reports the two largest cable companies, Comcast and Time Warner Cable, are in talks to provide funding for the new WiMax venture from the two.

Jabil Circuit, Inc. (NYSE: JBL) 13.3% LOWER; reports Q2 EPS of $0.20, 2 cents better than the analyst estimate of $0.18. Revenues for the quarter were $3.1 billion, versus the consensus of $3.04 billion. Sees Q3 EPS of $0.18-$0.22, versus the consensus of $0.34. Sees Q3 revs of $3.05-$3.15 billion, versus $3.25 billion. FY08 EPS are expected to be $1.00-$1.16, versus $1.29 and revs of $12.6-$12.8 billion, versus $13.1 billion.

Charlotte Russe Holding, Inc. (Nasdaq: CHIC) 10% LOWER; re-affirms its previous sales and earnings guidance range of $0.12 to $0.15 diluted earnings per share for the second quarter. The consensus is $0.15. Charlotte Russe is guiding to a flat to low single digit negative comparable store sales decline and diluted earnings per share in the range of $0.27 to $0.30 for the third quarter. The consensus is $0.41

Sprint Nextel Corp. (NYSE: S) 9% HIGHER; Sprint and Clearwire are higher this AM on reports the two largest cable companies, Comcast and Time Warner Cable, are in talks to provide funding for the new WiMax venture from the two.

Motorola Inc. (NYSE: MOT) 5% HIGHER; said Board of Directors has commenced a process to create two independent, publicly-traded companies. The company will separate their Mobile Devices and Broadband & Mobility Solutions businesses.

Alpha Natural Resources Inc. (NYSE: ANR) 4% HIGHER; Goldman upgrade

International Coal Group, Inc. (NYSE: ICO) 4% HIGHER; Goldman upgrade

Talisman Energy (NYSE: TLM) 3.4% HIGHER; Citi ups to Buy

PF Chang's (Nasdaq: PFCB) 3% LOWER; FBR downgrades to Underperform

Waters Corp. (NYSE: WAT) 2.5% HIGHER; JPMorgan upgrade

Comerica Incorporated (NYSE: CMA) 2% LOWER; Goldman adds to Conviction Sell List

California Pizza Kitchen Inc. (Nasdaq: CPKI) 2% LOWER; Wedbush starts at Sell

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