Pre-Open Movers 4/17: FUQI Intl (FUQI) Higher on Raised Guidance, Nokia (NOK) Lower on Results/Outlook

April 17, 2008 9:30 AM EDT

StreetInsider.com Pre-Open Movers:

Accentia Biopharmaceuticals, Inc. (NASDAQ: ABPI) 115% HIGHER; Biovest reported that the independent Data Monitoring Committee (DMC), which is vested with the responsibility of monitoring the safety and efficacy of the BiovaxID trial, has completed a closed session review of the unblinded results, including the primary and secondary endpoints analysis of the Phase 3 study. Based on their analysis, the DMC has recommended that the results be unblinded, and has volunteered to participate, if needed, in Biovest's ongoing regulatory meetings with the FDA and other worldwide regulatory agencies (Health Authorities) in order to determine the most appropriate process for unblinding the results, and establishing a pathway to seek marketing approvals.

AVANT Immunotherapeutics (Nasdaq: AVAN) 34% HIGHER; Pfizer, Inc (NYSE: PFE) and AVANT entered into an agreement under which Pfizer will be granted an exclusive worldwide license to a therapeutic cancer vaccine candidate, CDX-110, in Phase 2 development for the treatment of glioblastoma multiforme. This agreement also gives Pfizer exclusive rights to the use of EGFRvIII vaccines in other potential indications.

FUQI International, Inc. (Nasdaq: FUQI) 23% HIGHER; sees Q1 revenues of $76-$77, which exceeds prior guidance and the consensus of $59.15 million. FUQI sees Q1 EPS of $0.27-$0.28, which exceeds prior guidance and the consensus of $0.19. The Company has also raised its financial forecast for the 2008 fiscal year

Avocent Corp. (Nasdaq: AVCT) 17% HIGHER; reports Q1 EPS of $0.31, 9 cents better than the analyst estimate of $0.22. Revenues for the quarter came in at $141.4 million, versus the consensus of $132.85 million.

Briggs & Stratton Corp. (NYSE: BGG) 15% LOWER; reports Q3 EPS of $0.75, 10 cents lower than the analyst estimate of $0.85. Revenues for the quarter were $724.8 million, versus the consensus of $767.21 million. Sees FY08 sales of $2.2 billion, versus the consensus of $2.3 billion. EPS are expected to be in the range of $0.60-$0.71, versus the consensus of $1.19.

Credence Systems Corporation (Nasdaq: CMOS) 14% LOWER; sees a lower Q1 net loss than previously announced: from $0.09-$0.11 to $0.14-$0.17, versus the consensus of ($0.06).

Watts Water Technologies, Inc. (NYSE: WTS) 13% LOWER; today reported preliminary Q1 earnings: sees sales of $344 million and EPS between $0.35 and $0.38. The Street is expecting $352.27 million in sales and EPS of $0.54.

Nokia Corp. (NYE: NOK) 12% LOWER; reported Q1 results, sees moble device market down in 2008.

Epicor Software Corporation (NASDAQ: EPIC) 12% LOWER; sees Q1 non-GAAP total revenue of $103 to $104 million, with non-GAAP earnings per share of $0.06 to $0.07. This compares to prior guidance of $112 to $115 million, with non-GAAP earnings per share of $0.16 to $0.17. The consensus is $113.5 million and $0.17.

McMoRan Exploration Co. (NYSE: MMR) 9.3% HIGHER; reports Q1 earnings of $0.46 per share, above consensus of $0.20. Revenues came in at $295.5 million, versus the consensus of $218.7 million.

Con-Way (NYSE: CNW) 9% LOWER; reports Q1 EPS of $0.54, ex-items, 6 cents lower than the analyst estimate of $0.60. Revenues for the quarter came in at $1.20 billion, versus the consensus of $1.20 billion. Con-Way lowers its previously issued FY08 EPS outlook from $3.40-$3.80 to $3.00-$3.40. The Street consensus is currently $3.63.

Harley-Davidson, Inc. (NYSE: HOG) 7.6% LOWER; reports Q1 EPS of $0.79, 2 cents better than the analyst estimate of $0.77. Revenues for the quarter were $1.31 billion, versus the consensus of $1.23 billion. Lowers its FY08 EPS guidance to $3.00-$3.18, versus the consensus of $ 3.62. Harley-Davidson expects EPS to decrease 15-20% from 2007's results.

Crown Holdings (NYSE: CCK) 7% HIGHER; reports Q1 EPS of $0.17, 3 cents better than the analyst estimate of $0.14. Revenues for the quarter came in at $1.863 billion, versus the consensus of $1.79 billion.

Omniture (Nasdaq: OMTR) 5% HIGHER; Citi upgrades to Buy

SunPower Corporation (Nasdaq: SPWR) 5% LOWER; reports Q1 EPS of $0.39, ex-items, versus the consensus of $0.35. Revenue came in at $274 million, versus the consensus of $245.1 million. Sees Q2 revenues of $330-$350 million and EPS of $0.48-$0.52, versus the consensus of $295.1 million and $0.46, respectively. Sees 2008 revenues of $1.3-$1.375 billion and EPS of $2.10-$2.20, versus the consensus of $1.27 billion and $2.07, respectively. The company also reconfirming our 2009 forecast for total revenue to increase at least 40% from 2008 levels

Spherion Corporation (NYSE: SFN) 4.5% LOWER; lowers its Q1 guidance: sees sales of $573-$578 million, about $10 less than the low-end of its previous outlook. EPS goes to $0.03-$0.03, about $0.02-$0.03 under the low-end of its previous guidance. The Street is expecting revs of $589.26 million and EPS of $0.09.

Human Genome Sciences Inc. (Nasdaq: HGSI) 4% LOWER; Citi downgrades to Hold

Pfizer Inc. (NYSE: PFE) 4% LOWER; reports Q1 EPS of $0.61, ex-items, below the consensus of $0.66. Revenue came in at $11.8 billion, versus the consensus of $12.09 billion. Pfizer Reaffirms Full-Year 2008 Financial Guidance Previously Provided. Sees revenues of $47.0 to $49.0 billion. Sees Adjusted Diluted EPS$2.35 to $2.45

AptarGroup (NYSE: ATR) 4% HIGHER; reports Q1 EPS of $0.52, 3 cents better than the analyst estimate of $0.49. Revenues for the quarter came in at $532.3 million, versus the consensus of $500.92 million. Sees Q2 EPS in the range of $0.60-$0.63, versus the consensus of $0.59. Declared a quarterly dividend of $0.13, payable on May 21 to shareholders of record on April 30.

Isis Pharmaceuticals (Nasdaq: ISIS) 2.8% HIGHER; GlaxoSmithKline (NYSE: GSK) and Regulus Therapeutics LLC, a joint venture between Alnylam Pharmaceuticals and Isis Pharmaceuticals, announced a worldwide strategic alliance to discover, develop and market novel microRNA-targeted therapeutics to treat inflammatory diseases such as rheumatoid arthritis and inflammatory bowel disease.

Merrill Lynch (NYSE: MER) 2.5% LOWER; reports a Q1 loss of $1.97 billion, or $2.20 per share, which is higher than the consensus of a$1.99 loss. Revenues came were down 69% to $2.93 billion, versus the consensus of $3.7 billion. The company had net write-downs totaling $1.5 billion related to U.S. ABS CDOs and credit valuation adjustments of negative $3.0 billion related to hedges with financial guarantors, most of which related to U.S. super senior ABS CDOs.

International Business Machines (NYSE: IBM) 2.5% HIGHER; reports Q1 EPS of $1.65, cents better than the analyst estimate of $1.45. Revenues for the quarter came in at $24.5 million, versus the consensus of $23.71 million. IBM said, "We feel good about the rest of the year."

Photon Dynamics, Inc. (Nasdaq: PHTN) INDICATED HIGHER; raises guidance. The company now expects total revenue for the second quarter to be in the range of $42 million to $45 million, and GAAP-basis diluted earnings per share greater than $0.12. In the company's February 7, 2008 press release, guidance provided for the second quarter was for revenue between $36 million and $38 million with a loss per share of $0.11 and $0.05. The consensus is $37.35 million and $0.00

Alnylam Pharmaceuticals (Nasdaq: ALNY) INDICATED HIGHER; GlaxoSmithKline and Regulus Therapeutics LLC, a joint venture between Alnylam Pharmaceuticals and Isis Pharmaceuticals, announced a worldwide strategic alliance to discover, develop and market novel microRNA-targeted therapeutics to treat inflammatory diseases such as rheumatoid arthritis and inflammatory bowel disease.

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