Pre-Open Movers 6/03: Sherwin-Williams (SHW) Sinks On Warning; W-H Energy (WHQ) Up on Buyout

June 3, 2008 9:32 AM EDT

StreetInsider.com Pre-Open Movers:

NCI Building Systems, Inc. (NYSE: NCS) 12% HIGHER; reports Q2 EPS of $0.76 (including $0.09 charge) vs. consensus of $0.30. Sales for the second quarter of fiscal 2008 increased 13.1% to $416.1 million vs. $365.44 million consensus. The Company has narrowed its guidance, expecting full year 2008 earnings per diluted share to range from $3.19 to $3.44. Therefore our guidance for the second half of our fiscal year is $2.04 to $2.29 per diluted share. (FY08 EPS consensus is $2.92)

lululemon athletica (Nasdaq: LULU) 11% LOWER; reports Q1 EPS of $0.12, in-line with the analyst estimate of $0.12. Revenues for the quarter were $78.2 million, versus the consensus of $71.78 million. Sees FY08 EPS of $0.68-$0.71, versus prior guidance of $0.70-$0.72, versus the consensus of $0.74.

Lexicon Pharmaceuticals, Inc. (Nasdaq: LXRX) 9% HIGHER; received Fast Track status from the FDA for development of LX1032, an orally-delivered small molecule drug candidate for managing gastrointestinal symptoms associated with carcinoid syndrome. LX1032 is one of four programs in human clinical trials as part of Lexicon's 10TO10 program.

Sherwin-Williams Company (NYSE: SHW) 8% LOWER; lowers Q2 and 2008 guidance, citing the expected continuation of the unprecedented downturn in the U.S. housing market and rapidly rising raw material cost increases.

Marvel Entertainment Inc. (NYSE: MVL) 3% HIGHER; will replace The Commerce Group Inc. (NYSE: CGI). The Commerce Group is being acquired by Mapfre S.A. in a deal expected to close soon.

Senior Housing Properties Trust (NYSE: SNH) 2% LOWER; has commenced a proposed public offering of 10,000,000 common shares. SNH expects to use the net proceeds to repay debt and for general business purposes, including funding acquisitions.

Riverbed Technology, Inc. (Nasdaq: RVBD) 2% LOWER; Starts at Sell

W-H Energy Services, Inc. (NYSE: WHQ) INDICATED HIGHER; Smith International, Inc. (NYSE: SII) and W-H Energy Services announced a strategic combination that will broaden Smith’s capabilities across key drilling and completion product and service offerings. Under the terms of the definitive merger agreement unanimously approved by both companies Board of Directors, Smith will acquire W-H Energy in exchange for cash consideration of $56.10 and the issuance of 0.48 Smith common shares for each W-H Energy share outstanding. Based on yesterday's closing Smith share price, the transaction is valued at $93.55 per W-H Energy share and results in a total transaction value of approximately $3.2 billion.

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