Pre-Open Movers 4/28: Wrigley (WWY) Higher on Buyout, Sycamore (SCMR) Sinks on Warning

April 28, 2008 9:24 AM EDT

StreetInsider.com Pre-Open Movers:

William Wrigley Jr. Co. (NYSE: WWY) 24% HIGHER; Mars, Inc. announced a merger agreement with Wm. Wrigley Jr. Company in a transaction valued at approximately $23 billion, or $80 per share in cash.

Sycamore Networks, Inc. (NASDAQ: SCMR) 14% LOWER; sees Q3 revenue of $21 million, well below the consensus of $45.7 million.

Sohu.com (Nasdaq: SOHU) 12.5% HIGHER; reports Q1 earnings of $0.55 per share, ($0.64 Non-GAAP) above the consensus of $0.37. Revenues came in at $84.8 million, versus the consensus of $69.3 million. Sees Q2 Non-GAAP EPS of $0.72-0.75, versus the consensus of $0.44. Sees Q2 revenues of $93-$96 million, versus the consensus of $77.43 million.

Radware Ltd. (Nasdaq: RDWR) 11% LOWER; reports a Q1 loss of $0.32, versus the analyst estimate of ($0.05). Revenues for the quarter were $22.2 million, versus the consensus of $23.65 million.

Ford Motor Company (NYSE: F) 8% HIGHER; Kerkorian's Tracinda Corp intends to make a cash tender offer for up to 20,000,000 shares of common stock of Ford Motor at a price of $8.50 per share.

Integral Systems Inc. (Nasdaq: ISYS) 8% HIGHER; reports Q2 EPS of $0.44, versus $0.19 last year. Revenues rose 55% to $44.9 million, versus the consensus of $36.4 million. Government Ground Systems revenue grew 76% over the prior year due to increased revenue from two large government contracts. Commercial Ground Systems revenue grew 18% over the prior year due primarily to revenue from the Protostar contract and completion of work by the Company's SAT subsidiary on several large government contracts. Space Communications Systems revenue grew 40% over the prior year due to higher demand for its products and services. Integral Systems now sees FY08 EPS of $1.90.

BE Aerospace (Nasdaq: BEAV) 6.8% HIGHER; reports Q1 earnings of $0.53 per share, above the consensus of $0.51. Revenues came in at $473.2 million, versus the consensus of $482 million. Sees FY08 EPS of $2.35 versus the consensus of $2.34

Hershey Co. (NYSE: HSY) 6% HIGHER; Up following buyout of William Wrigley (WWY)

UAL Corporation (Nasdaq: UAUA) 5% LOWER; Rumored merger partner Continental Airlines (NYSE: CAL) said it will not merge.

Continental Airlines (NYSE: CAL) 4.4% LOWER; In a letter to employees, Continental Airlines (NYSE: CAL) said it will not merge.

Bebe Stores, Inc. (Nasdaq: BEBE) 2.9% LOWER; Brean Murray downgrades to Hold

Visa Inc. (NYSE: V) 2.3% HIGHER; A number of Wall Street firms start coverage on the stock with mostly positive ratings and comments.

Potash Corp. of Saskatchewan, Inc. (NYSE: POT) 1.8% LOWER; Goldman Removes from Conviction Buy List

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• Goldman Sachs Conviction Buy List
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