Pre-Open Movers 8/6: Freddie Mac (FRE) Sinks On Results, Isolagen (ILE) Surges On Drug Results

August 6, 2008 9:34 AM EDT

StreetInsider.com Pre-Open Movers:

Isolagen Inc. (AMEX: ILE) 350% HIGHER; Announces Positive Top-Line Results of Isolagen Therapy

The Advisory Board Company (Nasdaq: ABCO) 24% LOWER; reports Q3 EPS of $0.40, 7 cents better than the analyst estimate of $0.47. Revenues for the quarter were $57.2 million, versus the consensus of $56.93 million. Lowers Q4 EPS to $0.30-$0.37, versus the consensus of $0.61 and revs of $57.5-$59 million, versus the consensus of $62.9 million. Sees FY08 revs of $232-$237 million, versus prior guidance of $243 million, versus the consensus of $252 million. EPS for the year goes from $1.77 to $1.50-$1.57.

Internap Network Services Corp. (Nasdaq: INAP) 20% LOWER; loss of $0.02 ex-items, versus the consensus of a $0.03 profit. Revs of $62.3M, versus $64.25M

Multi-Fineline Electronix (Nasdaq: MFLX) 20% LOWER; reports Q3 EPS of $0.34, 2 cents lower than the analyst estimate of $0.36. Revenues for the quarter were $167.6 million, versus the consensus of $165.26 million.

Freddie Mac (NYSE: FRE) 18% LOWER; reports Q2 a loss of $1.63 per share, which may not comapre to the consensus of a $0.41 loss. Provision for credit losses were $2.5 billion. Freddie Mac cuts its Q3 dividend from $0.25 to $0.05 per share. Freddie Mac said they remain committed to raising $5.5 billion of new capital.

Whole Foods Market (Nasdaq: WFMI) 17% LOWER; reports Q3 EPS of $0.24, 8 cents better than the analyst estimate of $0.31. Revenues for the quarter were $1.84 billion, versus the consensus of $1.91 billion. Suspends dividend. Adds $100 million to buyback. Sees Q4 EPS of $0.13-$0.15, versus the consensus of $0.27. For the FY, sees EPS of $1.08-$1.14, which may not compare to the $1.15

Mueller Water Products (NYSE: MWA) 15% HIGHER; reports Q2 EPS of $0.18, 8 cents better than the analyst estimate of $0.10. Revenues for the quarter were $528.5 million, versus the consensus of $466.45 million.

Fannie Mae (NYSE: FNM) 15% LOWER; More concerns after Freddie Mac reports results.

Priceline.com (Nasdaq: PCLN) 15% LOWER; reports Q2 EPS of $1.55, ex-items, 14 cents better than the analyst estimate of $1.41. Revenues for the quarter were $514 million, versus the consensus of $495.74 million. Sees FY08 EPS of $5.50-$5.80, versus the consensus of $5.54.

AMRI (NASDAQ: AMRI) 10% HIGHER; reports Q2 EPS of $0.24, versus the analyst estimate of $0.10. Revenues for the quarter were $57.9 million, versus the consensus of $51.80 million. Sees Q3 revs of $47-$49 million and EPS of $0.08-$0.10, compared to the Street estimates of $49.21 million and $0.07, respectively. For FY08, revs are expected to be $186-$190 million and EPS in the range of $0.48-$0.52, versus the estimates of $208.09 million and $0.38, respectively.

BIDZ.com (Nasdaq: BIDZ) 8% HIGHER; reports Q2 EPS of $0.14, 4 cents better than the analyst estimate of $0.10. Revenues for the quarter were $55 million, versus the consensus of $49.39 million. Sees Q3 EPS of $0 revs of $55-$58 million, versus the consensus of $48.3 million and GAAP EPS of $0.10-$0.11, which may not compare to the consensus of $0.10.

HCP, Inc. (NYSE: HCP) 7% LOWER; Prices 13M Shares at $33.50. HCP closed at $36.82 yesterday.

Sprint Nextel Corp. (NYSE: S) 7% LOWER; reports Q2 EPS of $0.06, ex-items, versus the consensus of $0.03. Revenues came in at $9.1 billion, versus the consensus of $9.17 billion. Sees more suscribers losses.

Akeena Solar (Nasdaq: AKNS) 7% LOWER; reports Q2 loss of $0.18, 2 cents lower than the analyst estimate of ($0.16). Revenues for the quarter were $7.06 million, versus the consensus of $11.16 million.

Tekelec (NASDAQ: TKLC) 6% LOWER; reports Q2 non-GAAP EPS of $0.23, 8 cents better than the analyst estimate of $0.15. Revenues for the quarter were $116.4 million, versus the consensus of $111.07 million.

Cisco Systems (Nasdaq: CSCO) 6% HIGHER; reported Q4 EPS of $0.40, 1 cent better than the analyst estimate of $0.39. Revenues for the quarter were $10.4 billion, versus the consensus of $10.31 billion. On its call, Cisco reiterated its guidance of 12%-17% annual sales growth. The company said it sees Q1 revenues growth of 8%. On a more cautious note, Cisco said it sees 'economic challenges' over the next few quarters.

Polo Ralph Lauren (NYSE: RL) 5.8% HIGHER; reports Q1 earnings of $0.93 per share, above the consensus of $0.72. Revenues came in at $1.11 billion, versus the consensus of $1.12 billion. Sees FY09 EPS of $4.00-4.10 versus the consensus of $3.98.

Molex Inc. (Nasdaq: MOLX) 3.2% LOWER; reports Q2 EPS of $0.41, in-line with the analyst estimate of $0.41. Revenues for the quarter were $871.9 million, versus the consensus of $869.4 million. Announces a $200 million buyback. Raises its quarterly dividend 36% to $0.1525.

Herbalife Ltd. (NYSE: HLF) 3% HIGHER; reports Q2 EPS of $1.01, 9 cents better than the analyst estimate of $0.92. Revenues for the quarter were $639.7 million, versus the consensus of $612.96 million. Sees Q3 EPS 81-84 cents versus 84 cents. Sees FY08 EPS $3.64-$3.69 versus $3.59 consensus.

Blue Nile, Inc. (Nasdaq: NILE) 2.6% HIGHER; reports Q2 EPS of $0.20, 3 cents better than the analyst estimate of $0.17. Revenues for the quarter were $73.7 million, versus the consensus of $74.48 million. Sees Q3 EPS of $0.15-$0.17, versus the consensus of $0.18. Sees Q3 revs up 0%-5%. See FY08 EPS consistent with 2007. Sees FY08 sales up mid-single digits.

Churchill Downs Inc. (Nasdaq: CHDN) 2% LOWER; reports Q2 EPS of $2.10, 11 cents lower than the analyst estimate of $2.21. Revenues for the quarter were $179.3 million, versus the consensus of $189.55 million.

Fannie Mae (NYSE: FNM) 2% LOWER; Morgan Stanley (NYSE: MS) confirmed today that it has been retained by the United States Department of the Treasury to provide capital markets advice to support the Treasury's responsibilities associated with its new authorities regarding Fannie Mae and Freddie Mac.

Freddie Mac (NYSE: FRE) 1.6% LOWER; Morgan Stanley (NYSE: MS) confirmed today that it has been retained by the United States Department of the Treasury to provide capital markets advice to support the Treasury's responsibilities associated with its new authorities regarding Fannie Mae and Freddie Mac.

ONEOK Partners, L.P. (NYSE: OKS) INDICATED HIGHER; reports Q2 EPS of $1.47, which may not compare to the analyst estimate of $1.04. Raises FY08 EPS of from $4.10-$4.60 to $5.20-$5.60, versus the consensus of $4.70.

Kenneth Cole (NYSE: KCP) INDICATED LOWER; reports a Q2 loss of $0.11, 2 cents better than the analyst estimate of ($0.13). Revenues for the quarter were $110.9 million, versus the consensus of $111.06 million. Sees Q3 EPS of $0.07-$0.10, versus the consensus of $0.14 and revs of $125-$130 million, versus the consensus of $132.2 million.

General Maritime (NYSE: GMR) INDICATED HIGHER; General Maritime and Arlington Tankers Ltd. (NYSE: ATB) entered into a definitive agreement whereby the two companies will combine in a stock- for-stock combination. Under the terms of the definitive agreement, approved unanimously by the Boards of Directors of both General Maritime and Arlington Tankers, shareholders of General Maritime will receive 1.340 shares of the combined company for each share of General Maritime held, and shareholders of Arlington Tankers will receive one share of the combined company for each share of Arlington Tankers held.

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