StreetInsider.com Pre-Open Movers 09/05

September 5, 2007 9:24 AM EDT

StreetInsider.com Pre-Open Movers:

Applix, Inc. (NASDAQ: APLX) 22.5% HIGHER; Cognos (NASDAQ: COGN) and Applix jointly announced the execution of a definitive agreement for Cognos to acquire Applix. The planned acquisition is a cash tender offer of $17.87 per share, which equates to approximately $339 million or $306 million net of Applix cash on hand.

AtheroGenics, Inc. (Nasdaq: AGIX) 16% LOWER; announced positive data from its ARISE Phase III clinical outcomes study of its lead oral anti-diabetic drug candidate, AGI-1067, at the European Society of Cardiology Congress 2007. NOTE: The stock was up from the $1.30 level to $3 since the middle of August, ahead of today\'s news.

Northfield Laboratories Inc. (Nasdaq: NFLD) 10% LOWER; Profit taking after yesterday\'s 60% move higher.

Tyson Foods, Inc. (NYSE: TSN) 9% LOWER; is revising our fiscal 2007 guidance to $0.72 to $0.80 per share, below the consensus of $0.90. The company said, "The fourth quarter is turning out to be more challenging than expected. Our beef business has been affected by higher than expected live cattle costs and a decline in beef revenues due to a disruption in South Korean beef trade. Meanwhile, live hog prices were higher due to speculation about Chinese pork imports."

Poniard Pharmaceuticals, Inc. (Nasdaq: PARD) 8.3% HIGHER; has been granted fast track designation by the FDA for its lead product candidate, picoplatin, for the second-line treatment of refractory or resistant small cell lung cancer.

DSW (NYSE: DSW) 7.7% LOWER; reports Q2 earnings of $0.15 per share, versus the consensus of $0.30 (may not compare). Revenues came in at $348.7 million versus the consensus of $349.2 million. Sees FY08 EPS of $1.63-$1.68 versus the consensus of $1.66.

Guess? Inc. (NYSE: GES) 6.5% LOWER; reports Q2 EPS of $0.40, versus the consensus of $0.30. Revenues came in at $388.3 million versus the consensus of $342.6 million. Sees FY EPS of $1.79-$1.84, from $1.75-$1.80 and the consensus of $1.83. Sees FY revs of $1.56-$1.6 billion versus the consensus of $1.56 billion

Radian Group Inc. (NYSE: RDN) 6% LOWER; MGIC Investment Corporation (NYSE: MTG) and Radian Group entered into an agreement that terminates their pending merger.

OSI Systems (Nasdaq: OSIS) 6% LOWER; reports Q4 earnings of $0.24 per share, versus the consensus of $0.20. Revenues came in at $152.8 million versus the consensus of $153.3 million. Sees Q1 revenues of $125-$130 million versus the consensus of $140.1 million. The Company expects to report a net loss in the first quarter with the loss per share expected to be significantly reduced from the ($0.36) per share loss reported in the first quarter of fiscal 2007. Sees FY08 revenues of $580-$595 million versus the consensus of $607.5 million.

Sycamore Networks, Inc. (NASDAQ: SCMR) 6% LOWER; reports Q4 non-GAAP EPS of $0.02, 1 cent worse than estimates. Revenues were $38.04 million vs. $46 million consensus. The Company also announced today that Richard J. Gaynor, chief financial officer and vice president of finance and administration, will be leaving to pursue another employment opportunity.

Costco Wholesale Corporation (Nasdaq: COST) 5.8% LOWER; said Comparable sales for the four-week retail-reporting month of August rose 2%; 1% in the US and 8% internationally. Analysts were looking for a rise of 5.6%.

Mitcham Industries Inc. (Nasdaq: MIND) 5.6% HIGHER; reports Q2 EPS of $0.17, above the consensus of $0.13. Revenues came in at $15.4 million versus the consensus of $12.3 million. Sees FY revenues of $60-$65 million versus its prior view of $55-$60 million and the consensus of $64 million. The company sees operating income range of $13.5 to $14.5 million versus its prior guidance of $12.5 to $13.5 million.

Amgen Inc. (Nasdaq: AMGN) 3.5% HIGHER: Senate passed an NCD Resolution instructing CMS to begin immediate reconsideration of its NCD on the use of ESAs in cancer and related neoplastic conditions.

Finisar Corporation (NASDAQ: FNSR) 3% LOWER; reported preliminary financial results for its first fiscal quarter ended July 29, 2007. The Company is not providing detailed GAAP or non-GAAP financial results for the quarter. Non-GAAP revenues are expected to be $105.7 million vs. consensus of $108.2 million.

ValueClick Inc. (NASDAQ: VCLK) 2.7% HIGHER; Citi upgrades ValueClick Inc (Nasdaq: VCLK) from Hold to Buy. Also, Yahoo! entered into a definitive agreement to acquire BlueLithium for approximately $300 million in cash.

Altria Group (NYSE: MO) 1.3% LOWER; Goldman Sachs downgrades Altria Group from Buy to Neutral.

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