Pre-Open Movers 9/9: H.B. Fuller (FUL) Lower On Guidance; Lehman (LEH) Down As KDB Talks End

September 9, 2008 9:31 AM EDT

StreetInsider.com Pre-Open Movers:

Pharsight Corporation (Nasdaq: PHST) 35% HIGHER; Tripos agreed to acquire Pharsight Corporation for approximately $57 million in cash, or $5.50 per share. Tripos is wholly owned by Vector Capital, a San Francisco-based private equity.

tw telecom inc. (Nasdaq: TWTC) 24% LOWER; sees slower growth. Downgraded by two firms

H.B. Fuller Company (NYSE: FUL) 17.8% LOWER; lowers its FY08 EPS guidance from $1.75-$1.86 to $1.55-$1.60, versus the consensus of $1.80. Q3 and Q4 EPS are expected to be $0.44 and $0.40-$0.45, respectively.

CapitalSource Inc. (NYSE: CSE) 16.1% LOWER; today announced that its Board has approved a 90% decrease to its quarterly dividend from $0.60 to $0.05, payable on or about September 30, 2008 to shareholders of record on September 17, 2008. The ex-dividend date will be September 15, 2008.

eFuture (Nasdaq: EFUT) 14.7% HIGHER; reports Q2 adj-EPS of $0.35, or RMB2.14, compared to a loss of RMB0.07 in the same quarter last year. Revenues for the quarter came in at $3.5 million, or RMB24.16 million versus RMB11.85 million in Q207.

Finisar (Nasdaq: FNSR) 10% HIGHER; reports Q1 EPS of $0.04, 1 cent better than the analyst estimate of $0.03. Revenues for the quarter were $128.7 million, versus the consensus of $122.85 million.

Avery Dennison Corporation (NYSE: AVY) 10% LOWER; sees EPS for the months of July and August in the range of $0.15-$0.20 below the company's initial guidance.

CapitalSource Inc. (NYSE: CSE) 8% LOWER; approved a 90% decrease to its quarterly dividend from $0.60 to $0.05, payable on or about September 30, 2008 to shareholders of record on September 17, 2008. The ex-dividend date will be September 15, 2008.

Lehman Brothers Holdings Inc. (NYSE: LEH) 5% LOWER; Korean regulator says KDB talks with Lehman ended

Massey Energy Co. (NYSE: MEE) 5% LOWER; Friedman Billings downgrades to Market Perform

Wachovia Corporation (NYSE: WB) 4% LOWER; Merrill Lynch downgrades to Underperform

Shanda Interactive Entertainment Limited (Nasdaq: SNDA) 2.7% HIGHER; today announced a new repurchase program for up to $200 million of its outstanding ADS's. Shanda also announced that it intends to offer $130 million aggregate principal amount of convertible senior notes due 2011 through a private offering.

Pulte Homes Inc. (NYSE: PHM) 2% LOWER; Credit Suisse downgrades to Neutral

Dell Inc. (Nasdaq: DELL) 2% HIGHER; Michael Dell buys nearly 5 million shares.

Corning Inc. (NYSE: GLW) 2% HIGHER; Thomas Weisel upgrades to Overweight

McDonalds Corporation (NYSE: MCD) 1.5% HIGHER; global comparable sales increased 8.5% in August

Procter & Gamble Co. (NYSE: PG) 1% LOWER; Merrill Lynch downgrades to Neutral

Best Buy Co. Inc. (NYSE: BBY) 1% LOWER; Piper Jaffray downgrades to Neutral

SMART Modular Technologies (NASDAQ: SMOD) INDICATED LOWER; lowers its preliminary Q4 sales results from $160-$170 million to $158-$164 million, versus the consensus of $164.66 million. For FY08 SMART sees sales of $668-$674 million, versus the Street estimate of $666.71 million.

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