Pre-Open Movers 6/20: MF Global (MF) Lower on More Concerns, Western Union (WU) Up on Strong Long-Term EPS Guidance

June 20, 2008 9:30 AM EDT

StreetInsider.com Pre-Open Movers:

MF Global Ltd (NYSE: MF) 18% LOWER; Deutsche Bank lowers price target from $17 to $11

Huntington Bancshares Incorporated (Nasdaq: HBAN) 14% HIGHER; sees Q2 net charge-offs of an annualized 0.60%-0.65% of average total loans and leases. For FY08, net charge-offs would be near the high end of the previously targeted range of 0.60%-0.65% of average total loans and leases. Huntington also said that it expects Q2 provision for credit losses to exceed net charge-offs by about $55-$65 million, compared to $40.2 million in Q1. The provisions reflect continued economic weakness in many of its markets.

Bank of the Ozarks (Nasdaq: OZRK) 13% HIGHER; Reiterates Guidance Following Recent Drop in Stock Price

UAL Corporation (Nasdaq: UAUA) 7% LOWER; Gives back some of yesterday's 24% gains following alliance with Continental

International Rectifier (NYSE: IRF) 7% LOWER; Citi cuts to Sell

SanDisk Corp. (Nasdaq: SNDK) 5% LOWER; Citi downgrades to Hold

US Airways (NYSE: LCC) 5% LOWER; Gives back some of yesterday's 18% gains

Continental Airlines, Inc. (NYSE: CAL) 4.5% LOWER; Gives back some of yesterday's 16% gains following alliance with United Airlines.

Western Union (NYSE: WU) 4% HIGHER; raised its long-term EPS growth objective to 15% to 18%, up from 12% to 14%, and reaffirmed its long-term revenue growth objective of 10% to 12%, excluding acquisitions. Western Union also announced that its Board of Directors authorized an additional $1 billion for share repurchases. Western Union expects to deliver financial results for 2008 that will likely be at the higher end of both its revenue growth guidance of 9% to 11% and non-GAAP EPS guidance of $1.25 to $1.29.

Biovail Corporation (NYSE: BVF) 4% LOWER; CIBC downgrades to Sector Underperform

SunTrust Banks, Inc. (NYSE: STI) 4% LOWER; JP Morgan said SunTrust Bank (NYSE: STI) has the lowest reserves among large banks. The firm said the bank can issue preferred stock, sell assets.

Tenaris SA (NYSE: TS) 3% HIGHER; Mortan Stanley raises price target to $88

Winnebago (NYSE: WGO) 3% LOWER; reports Q3 EPS of $0.10, includes $8.9M tax benefit and may not compare to the consensus of $0.03. Revenues came inat $139.7 million, versus the consensus of $157.6 million.

Fleetwood Enterprises (NYSE: FLE) 2.6% LOWER; To Offer 12M shares

Merrill Lynch (NYSE: MER) 2.5% LOWER; Profit warning rumor

Fifth Third Bancorp (Nasdaq: FITB) 2% HIGHER; Continues to bounce of multi-year low levels. The stock was up 5.3% today, but down 61% YTD.

Beazer Homes USA Inc. (NYSE: BZH) 2% HIGHER; UBS upgrades to Neutral

Taylor Capital (Nasdaq: TAYD) 2% LOWER; Won't Declare Q2 Dividend

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