Pre-Open Movers 4/10: Millennium Pharma (MLNM) Surges On Buyout; Focus Media (FMCN) Lower on Guidance

April 10, 2008 9:25 AM EDT

StreetInsider.com Pre-Open Movers:

Millennium Pharmaceuticals, Inc. (Nasdaq: MLNM) 49% HIGHER; Takeda Pharmaceutical Company Limited and Millennium Pharmaceuticals entered into a definitive agreement pursuant to which Takeda will acquire Millennium for approximately $8.8 billion through a cash tender offer of $25.00 per share.

Tuesday Morning Corporation (Nasdaq: TUES) 24% LOWER; reports Q3 sales came in at $178.4 million. Same store sales for the period decreased 8.2%, compared to the same period last year. Based on these Q3 sales results, Tuesday Morning expects to report a Q3 loss in the range of $0.10-$0.12, versus the consensus of ($0.01). For the FY08, Tuesday Morning sees sales of $895-$910 million, versus the Street estimate of $923.14 million. Same store sales are expected to fall in the mid single digits. EPS are expected to be in the range of $0.38-$0.45, versus the consensus of $0.53.

FCStone Group, Inc. (Nasdaq: FCSX) 13% HIGHER; reports Q2 EPS of $0.42, versus the consensus of $0.37. Earnings from continuing operations were $0.61. Revenues came in at $91.2 million, versus the consensus of $76.3 million.

Super Micro Computer, Inc. (NASDAQ: SMCI) 10.8% LOWER; expects to report Q3 net sales ranging between $136.5 to $137.0 million, versus the consensus of $139 million. Supermicro sees non-GAAP EPS of $0.14-$0.16, versus the consensus of $0.19.

Christopher & Banks (NYSE: CBK) 10% HIGHER; reports a Q4 loss of $0.07, ex-items, 1 cent better than the analyst estimate of ($0.08). Revenues for the quarter were $125.3 million, versus the consensus of $125.21 million. Sees Q1 EPS of $0.25-$0.27, versus the consensus of $0.25

Focus Media Holding Limited (Nasdaq: FMCN) 9% LOWER; revised its previously issued FY08 guidance for its mobile advertising business. Due to recent uncertainty in the mobile handset advertising business in China, Focus Media sees a significantly lower full year revenue for its wireless business: previous outlook goes from $54-$55.8 million to $14-$15.8 million. Reflecting this change in its wireless segment, Focus Media now sees FY08 revenues in the range of $860-$890 million, down from $900-$930 million. Focus Media's FY08 non-GAAP net income is revised from $280-$300 million to $260-$280 million.

LookSmart, Ltd. (NASDAQ: LOOK) 9% HIGHER; reported preliminary Q1 earnings: sees revenues in the range of $17.4-$17.7 million, versus the consensus of $15.03 million. This represents a 32-34% increase from Q107.

Rite Aid Corp. (NYSE: RAD) 8.4% LOWER; reports a Q4 loss of $0.08, ex-items, 1 cent lower than the analyst estimate of ($0.07). Revenues for the quarter were $6.82 billion, versus the consensus of $6.85 billion. Rite Aid's same store sales for the quarter increased 1.3% from the same period last year. Rite Aid sees FY09 sales in the range of $26.7-$27.2 billion, versus the consensus of $27.63 billion. Sees same store sales over the full year increasing 2-4% over FY08. Rite Aid expects to report a FY09 net loss in the range of ($0.34)-($0.48), versus the Street estimate of ($0.18).

Force Protection Inc. (Nasdaq: FRPT) 8% HIGHER; the DoD approved the sale to Britain of 157 armored trucks built by the company, worth about $125 million.

ADC Telecommunications (Nasdaq: ADCT) 6.5% HIGHER; DB upgrades to Buy

Bed Bath & Beyond Inc. (Nasdaq: BBBY) 5.2% LOWER; reports Q4 EPS of $0.66, 1 cent lower than the analyst estimate of $0.65. Revenues for the quarter were $1.93 billion, versus the consensus of $1.96 billion. Sees Q1 EPS of $0.26-$0.30, versus the consensus of $0.36. Sees FY08 EPS to fall to mid-teens percentage.

WD-40 Company (Nasdaq: WDFC) 3.6% LOWER; reports Q2 EPS of $0.51, 1 cent lower than the analyst estimate of $0.52. Revenues for the quarter were $78.9 million, versus the consensus of $85.34 million. Revises FY08 EPS to $1.80-$1.90, versus prior guidance of $1.83-$1.93. The Street is estimating $1.89. Sees sales growth of 4-8% for FY08, versus prior guidance of 7-10%.

Lehman Brothers (NYSE: LEH) 3.3% LOWER; Liquidated Three Investment Funds Due To "Market Disruptions"

American Eagle Outfitters, Inc. (NYSE: AEO) 3.1% LOWER; Comparable store sales were down 12% for March. The company is lowering its first quarter earnings guidance to $0.18 to $0.20 per share, compared to $0.35 per share last year. The company's previous guidance was $0.25 to $0.27 per share.

Kohl's Corporation (NYSE: KSS) 2% LOWER; reports March same store sales for the period decreased 15.5%, compared to the same period last year. Kohl's expects Q1 comps to fall in the high-single digit range. Kohl's sees EPS for the quarter in the range of $0.40-$0.42, versus the consensus of $0.49

DuPont (NYSE: DD) 1.3% HIGHER; raised its first quarter 2008 earnings estimate to about $1.29 per share, compared to its previous outlook of $1.14 to $1.19 per share which was provided March 14. The consensus is $1.17.

Halliburton Company (NYSE: HAL) 1.2% HIGHER; Goldman upgrades to Buy

Wal-Mart Stores, Inc. (NYSE: WMT) 1% HIGHER; March comps without fuel rose 0.7% (0.9% for Wal-Mart Stores and -0.7% for Sam's). Wal-Mart raising guidance for earnings per share from continuing operations for the first quarter of fiscal year 2009 to a range of $0.74 to $0.76. This is an increase from the previous earnings guidance of $0.70 to $0.74 per share from continuing operations.
Tween Brands, Inc. (NYSE: TWB) INDICATED LOWER; warns for Q1; expects earnings per diluted share to be in the range of $0.12 to $0.17 compared to its previous guidance of $0.35 to $0.40 per diluted share. The consensus is $0.37.

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