Pre-Open Movers 8/21: PLCE, DKS, CYBX Higher; JDSU, CRM, ISSC, FRE, FNM Lower

August 21, 2008 9:23 AM EDT

StreetInsider.com Pre-Open Movers:

JDS Uniphase (Nasdaq: JDSU) 13.5% LOWER; reports Q4 EPS of $0.07, 3 cents lower than the analyst estimate of $0.10. Revenues for the quarter were $390.3 million, versus the consensus of $395.83 million. Sees Q1 sales in the range of $378-$394 million, versus the consensus of $399.50 million.

salesforce.com (NYSE: CRM) 10.6% LOWER; reports Q2 EPS of $0.08, cents better than the analyst estimate of $0.08. Revenues for the quarter were $263.1 million, versus the consensus of $260.56 million. Sees FY09 revs of $1.07-$1.075 billion, versus the consensus of $1.07 billion. Sees FY EPS of $0.34-$0.35, versus prior guidance of $0.33-$0.34 and the consensus of $0.35. The stock was also downgraded to Neutral at Piper Jaffray.

Innovative Solutions & Support (Nasdaq: ISSC) 10.6% LOWER; sees Q4 revenue $10M to $12M versus consensus estimates of $12.5 million. Innovative Solutions & Support sees FY08 revenue of $30M-$32M versus consensus of $32.8 million. Innovative Solutions & Support expects gross margins to fall to 42-46% from slightly above 50%.

Hott Topic (Nasdaq: HOTT) 9.8% LOWER; reports Q2 loss of $0.01, versus the analyst estimate of ($0.02). Revenues for the quarter were $166.8 million, versus the consensus of $166.7 million. Hot Topic sees Q3 EPS of 12 cents to 15 cents versus consensus of 16 cents. Hot Topic closed at $6.87 today.

Freddie Mac (NYSE: FRE) 8.3% LOWER; traders are continuing to sell Freddie and Fannie Mae (NYSE: FNM) this morning as market players speculate about whether the government will need to bail out the mortgage lenders. Notably, Fannie is currently down 5.8%.

The Children's Place (Nasdaq: PLCE) 8% HIGHER; reports a Q2 adjusted loss of $0.03 vs. consensus for $0.43 loss - may not be comparable. Revenues were $338.0 million vs. $339.03 million consensus.

GameStop (NYSE: GME) 5.2% LOWER; reports Q2 EPS of $0.34, 6 cents better than the analyst estimate of $0.28. Revenues for the quarter were $1.80 billion, versus the consensus of $1.70 billion. Sees Q3 EPS in the range of $0.36-$0.38, versus the consensus of $0.36 and Q4 EPS of $1.37-$1.40. Raises its FY08 EPS to $2.45-$2.50.

Lehman Brothers (NYSE: LEH) 4.7% LOWER; Citigroup cut estimates on Lehman, as well as Goldman Sachs (NYSE: GS) and Morgan Stanley (NYSE: MS). Citi said that Lehman may writedown up to $2.9 billion in Q3 and lowered its price target from $50 to $35. Additionally, the Financial Times is reporting this morning that Korea Development Bank and China's Citic Securities have given up talks to buy a stake in Lehman.

Dick's Sporting Goods (NYSE: DKS) 3.9% HIGHER; reports Q2 EPS of $0.39, ex-items, 3 cents better than the analyst estimate of $0.36. Revenues for the quarter were $1.086 billion, versus the consensus of $1.10 billion. Sees FY08 adj-EPS of $1.27-$1.36. Q3 EPS are expected to be in the range of $0.04-$0.08, versus the consensus of $0.08.

Cyberonics (NYSE: CYBX) 3.6% HIGHER; reports Q1 EPS of $0.08, 6 cents better than the analyst estimate of $0.02. Revenues for the quarter were $33.7 million, versus the consensus of $33.07 million. Reaffirms FY09 sales guidance of $134-$138 million, versus the consensus of $137.39 million.

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• Piper Jaffray
• Goldman Sachs
• Citi
• Morgan Stanley
• Lehman Brothers

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