Pre-Open Movers 8/5: XM Sirius (SIRI) Up on CEO 2M Share Buy; Otter Tail (OTTR) Sinks On Results/Guidance

August 5, 2008 9:30 AM EDT

StreetInsider.com Pre-Open Movers:

CastlePoint Holdings, Ltd. (NASDAQ: CPHL) 26% HIGHER; Tower Group, Inc. (NASDAQ: TWGP) and CastlePoint Holdings, Ltd. entered into a definitive agreement for the acquisition of CastlePoint by Tower in a transaction valued at approximately $490 million.

Rackable Systems, Inc. (Nasdaq: RACK) 20% LOWER; reports a Q2 adjusted-loss of $0.12, versus the analyst estimate of ($0.01). Revenues for the quarter were $76 million, versus the consensus of $76.23 million. Reaffirms forecast.

Otter Tail Power (Nasdaq: OTTR) 15% LOWER; reports Q2 earnings of $0.11 per share, well below the consensus of $0.56. Revenues came in at $323.6 million versus the consensus of $331.4 million. Sees FY08 EPS of $1.40-$1.65 versus prior guidance of $1.75-$2.00 and the consensus of $1.86.

MicroStrategy Incorporated (Nasdaq: MSTR) 11% LOWER; reports Q2 EPS of $0.66, versus the analyst estimate of $1.08. Revenues for the quarter were $88.9 million, versus the consensus of $87.33 million.

3Com Corporation (Nasdaq: COMS) 10% HIGHER; raising the guidance it previously provided for the first quarter of fiscal year 2009. The company currently expects consolidated revenues for the first fiscal quarter of 2009 to be in the range of $335 million to $340 million, compared to the previous guidance of $325 million to $330 million. The consensus is $327.7 million. The company also currently expects its non-GAAP earnings per share to be in the range of $0.06 to $0.08, compared to the prior guidance of $0.03 to $0.05. The consensus is $0.04.

Actions Semiconductor (Nasdaq: ACTS) 9.5% HIGHER; reports Q2 EPS of $0.09 does not compare to the analyst estimate of $0.10. Revenues for the quarter were $26.6 million, versus the consensus of $23.84 million. Sees Q3 EPS 11-13 cents versus 12 cents. Sees Q3 revenue $26-$28 million versus $26.7 million.

DCT Industrial Trust Inc (NYSE: DCT) 8% LOWER; reports Q2 FFO of $0.17 ex-items, versus the analyst estimate of $0.18. Revenues for the quarter were $63 million, versus the consensus of $65.41 million. DCT Industrial sees FY08 FFO 60-66 versus 70 cents. DCT Industrial declared a $0.16 per share quarterly cash dividend, payable on October 17, 2008, to stockholders of record as of October 6, 2008.

Syniverse Technologies (NYSE: SVR) 7.8% HIGHER; reports Q2 EPS of $0.42, 5 cents better than the analyst estimate of $0.37. Revenues for the quarter were $126.2 million, versus the consensus of $117.18 million.

XM Sirius (Nasdaq: SIRI) 7% HIGHER; CEO Buys Karmazin Buys 2M Shares

Masimo Corporation (Nasdaq: MASI) 7% HIGHER; reports Q2 EPS of $0.18, 5 cents better than the analyst estimate of $0.13. Revenues for the quarter were $74.8 million, versus the consensus of $71.51 million. Sees FY08 EPS of 64c versus prior guidance of 52c, consensus of 59c.

II-VI Incorporated (Nasdaq: IIVI) 6% HIGHER; reports Q4 EPS of $0.50, ex-items, 7 cents better than the analyst estimate of $0.43. Revenues for the quarter were $91.81 million, versus the consensus of $86.84 million. Sees Q1 sales in the range of $84-$86 million, versus the consensus of $81.37 million, and EPS in the range of $0.41-$0.44, versus the Street estimate of $0.39. Sees FY09 revenues of $347-$352 million, versus the consensus of $346.44 million, and EPS of $1.63, excluding the after-tax gain on the sale of equity investment of $0.52 per share. The Street is estimating II-VI will report FY09 EPS of $1.74.

Cutera, Inc (Nasdaq: CUTR) 6% HIGHER; reports Q2 EPS of $0.05, 3 cents better than the analyst estimate of $0.02. Revenues for the quarter were $24.8 million, versus the consensus of $23.49 million.

Almost Family (Nasdaq: AFAM) 5% HIGHER; reports Q2 earnings of $0.50 per share, above the consensus of $0.38. Revenues came in at $48.7 million, versus the consensus of $41.9 million.

American International Group, Inc. (NYSE: AIG) 5% HIGHER; UBS ugprades to Buy

LSI Corporation (NYSE: LSI) 4% LOWER; Lehman cuts to Underweight

Infineon Technologies AG (NYSE: IFX) 4% HIGHER; Deutsche Bank starts at Buy

Brinker International (NYSE: EAT) 2% HIGHER; reports Q4 earnings of $0.50 per share, ex-items, above the consensus of consensus of $0.42. Revenues came in at $1.07 billion, versus the consensus of $932.4 million. Sees FY EPS growth of 8%-10%.

Apple Inc. (Nasdaq: AAPL) 1.5% HIGHER; UBS starts at Buy

Procter & Gamble (NYSE: PG) 1% HIGHER; reports Q4 earnings of $0.80 per share, ex-items, above the consensus of $0.78. Revenues came in at $21.27 billion, versus the consensus of $21.05 billion. For fiscal year 2009, P&G expects its underlying business to deliver the company's annual target growth rates including organic sales growth of four to six percent and earnings per share growth of 10%.

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