Pre-Open Movers 8/15: Intl Rectifier (IRF) Higher on Takeover Bid; SunPower (SPWR) Up on PG&E Deal/Upgrade

August 15, 2008 9:23 AM EDT

StreetInsider.com Pre-Open Movers:

Ambac Financial Group, Inc. (NYSE: ABK) 21% HIGHER; Standard & Poor's Affirms 'AA' Rating

Comverse Technology Inc. (OTC: CMVT) 20% LOWER; Sees further delays in filing financiasl. Sees slower momentum in Q2. Also, JP MOrgan downgrades

International Rectifier Corporation (NYSE: IRF) 13% HIGHER; Vishay Intertechnology, Inc. (NYSE: VSH) made a non-binding proposal to the International Rectifier Board of Directors to acquire all the outstanding shares of International Rectifier common stock for $21.22 per share in cash, or total payment of approximately $1.6 billion.

SunPower Corporation (Nasdaq: SPWR) 12% HIGHER; PG&E solar deal. Merrill Upgrades to Buy

MBIA Inc. (NYSE: MBI) 12% HIGHER; Standard & Poor's Affirms 'AA' Rating

Autodesk, Inc. (Nasdaq: ADSK) 8% HIGHER; reports Q2 EPS of $0.56, 4 cents better than the analyst estimate of $0.52. Revenues for the quarter were $620 million, versus the consensus of $606.40 million. Sees Q3 EPS of $0.54-$0.56, versus the consensus of $0.55. Sees Q3 revs of $625-$635 million, versus the consensus of $622 million. Sees FY revs of $2.5-$2.53 billion, versus the consensus of $2.5 billion.

YRC Worldwide Inc. (Nasdaq: YRCW) 5% LOWER; CFO leaves to join another company

NRG Energy, Inc. (NYSE: NRG) 4.7% HIGHER; Buffett showed a new 3,238,100 share stake in the company.

Priceline.com Inc. (Nasdaq: PCLN) 4% HIGHER; Citi upgrades to Buy

DeVry (NYSE: DV) 4% LOWER; reports Q4 EPS of $0.34, 4 cents lower than the analyst estimate of $0.38. Revenues for the quarter were $276.8 million, versus the consensus of $272.13 million.

Kohls Corporation (NYSE: KSS) 3.5% HIGHER; reports Q2 EPS of $0.77, 4 cents better than the analyst estimate of $0.73. Revenues for the quarter were $3.7 billion, versus the consensus of $3.75 billion. Sees Q3 EPS of $0.51-$0.56, versus the consensus of $0.57 and Q4 EPS of $1.26-$1.34. For the FY08, EPS are expected to be $3.02-$3.18, versus prior guidance of $2.95-$3.15, versus the Street estimate of $3.07.

Red Robin Gourmet Burgers, Inc. (Nasdaq: RRGB) 3.5% LOWER; reports Q2 GAAP EPS of $0.49, in-line with the analyst estimate of $0.49. Revenues for the quarter were $206.4 million, versus the consensus of $210.35 million. Sees FY08 revs of $888-$894 million, versus the consensus of $903.66 million, and EPS in the range of $1.87-$2.02, compared to the Street estimate of $2.10. Announces its Board has authorized the repurchase of up to an additional $50 million of its common stock

Harman International Industries (NYSE: HAR) 3% LOWER; reports Q2 EPS of $0.68, versus the analyst estimate of $0.77. Revenues for the quarter were $1.07 billion, versus the consensus of $1.05 billion.

Goldcorp Inc. (NYSE: GG) 3% LOWER; More weakness in gold

Kinross Gold Corp. (NYSE: KGC) 3% LOWER; More weakness in gold

Ingersoll-Rand Co. Ltd. (NYSE: IR) 2.8% HIGHER; Buffett raised his stake from 936,600 shares to 5,636,600 shares

Nordstrom (NYSE: JWN) 2% LOWER; reports Q2 EPS of $0.65, 1 cent better than the analyst estimate of $0.64. Revenues for the quarter were $2.29 billion, versus the consensus of $2.31 billion. Sees Q3 EPS of $0.49-$0.54, versus the consensus of $0.56. Lowers its FY08 EPS guidance from $2.65-$2.85 to $2.55-$2.65, versus the consensus of $2.68.

Abercrombie & Fitch (NYSE: ANF) 1% LOWER; reports Q2 earnings of $0.88 per share, ex-items, above the consensus of $0.86. Revenues came in at $845.8 million, versus the consensus of $851.4 million. Abercrombie sees FY09 EPS of $4.95-$5.00 versus the consensus of $5.36. Sees 2nd-half EPS of $3.40-$3.45.

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