Pre-Open Movers 4/3: MEMC (WFR), Garmin (GRMN) Sink on Guidance, ATS Medical (ATSI) Higher

April 3, 2008 9:22 AM EDT

StreetInsider.com Pre-Open Movers:

ATS Medical, Inc. (Nasdaq: ATSI) 23% HIGHER; currently expects revenue for the first quarter 2008 to be between $14.6 and $14.8 million, above the Wall Street consensus of $13.73 million. The company cited higher revenue across all our business segments. CEO Michael Dale said, "ATS CryoMaze surgical ablation revenue was especially strong, up approximately 160% over the prior year's first quarter. We were also pleased with the continued increase in revenue from mechanical heart valves internationally, up approximately 32% from last year."

Sequenom, Inc. (NASDAQ: SQNM) 17% LOWER; said Q1 revenues will exceed revenues for the first quarter of 2007; however, while sales of MassARRAY systems in Europe and the rest of the world were in line with expectations, sales in the United States were soft. As such, the Company has revised its 2008 revenue guidance range to $50 to $53 million, from the previous guidance range of $53 to $56 million. The consensus is $55.3 million.

AngioDynamics (Nasdaq: ANGO) 13% HIGHER; reports Q3 EPS of $0.30, versus the analyst estimate of $0.12. Revenues for the quarter were $40.7 million, versus the consensus of $40.74 million. Sees FY08 EPS of $0.58-$0.61, versus the consensus of $0.50. Sales for FY08 are expected to be $165-$167 million, versus $164.8 million.

HNI Corporation (NYSE: HNI) 13% LOWER; expects Q1 revenue and operating profit in its office furniture segment to experience a significant decline over previously communicated expectations.

Garmin Ltd. (Nasdaq: GRMN) 12% LOWER; has fallen in pre-open trading on word the company's CFO said they sees Q1 revenues down 40%-50% sequentially.

MEMC Electronic Materials, Inc. (NYSE: WFR) 11% LOWER; now anticipates revenue for the first quarter will be approximately $500 million with gross margin of approximately 52% and operating expenses of approximately $42 million. This compares to the company's previously announced targets of $560 million in revenue with gross margin of approximately 54.8% and operating expenses of approximately $42 million.

LDK Solar Co., Ltd. (NYSE: LDK) 8% HIGHER; signed a ten-year contract which is a blend of "Take or Pay" linked with market-based pricing to supply multicrystalline solar wafers to India-based Moser Baer Photo Voltaic Limited, a subsidiary of Moser Baer India Limited.

Blackbaud Inc. (Nasdaq: BLKB) 5.7% LOWER; Jefferies downgrades to Underperform

National City (NYSE: NCC) 5% HIGHER; Bear and MS upgrade

Clear Channel (NYSE: CCU) 3% HIGHER; Federal Judge Rules Suit Can Stay In Texas State Court

eBay (Nasdaq: EBAY) 3% HIGHER; Merrill upgrades to Buy

Research In Motion Limited (Nasdaq: RIMM) 3% HIGHER; reports Q4 EPS of $0.72, 2 cents better than the analyst estimate of $0.70. Revenues for the quarter were $1.88 billion, versus the consensus of $1.86 billion. Sees Q1 EPS of $0.82-$0.86, versus the consensus of $0.76. Revs are expected to be $2.23-$2.3 billion, versus the consensus of $2.02 billion.

Cisco Systems, Inc. (Nasdaq: CSCO) 3% LOWER; UBS downgrades to Neutral

Acuity Brands (NYSE: AYI) 3% HIGHER; reports Q2 earnings of $0.82 per share, above the consensus of $0.68. Revenues came in at $482.6 million, versus the consensus of $470.2 million. Commenting on their outlook, CEO Nagel said, "We remain positive about our performance for the remainder of fiscal 2008. As such, this year we expect to meet or exceed our long-term financial goals including operating margin expansion, earnings growth, and cash flow generation."

Chesapeake Energy (NYSE: CHK) 2% LOWER; JPM downgrades to Neutral

For Real-Time Market Moving News Sign Up for StreetInsider.com Premium - FREE TRIAL!

[LJ]

Related Categories

Special Reports

Stocks Mentioned

Related Entities

• UBS
• Jefferies & Co

Add Your Comment

Name

Subject

Body

Verification can't see the text?
click here to refresh the image.
what's this?