Pre-Open Movers: Nationwide Financial (NFS) Higher on Buyout

August 7, 2008 9:28 AM EDT

StreetInsider.com Pre-Open Movers:

American International Group, Inc. (NYSE: AIG) 13.6% LOWER; Reported a Q2 adjusted loss of $0.51, versus the consensus of a $0.63 profit. Net Revenues of $19.933 billion, versus $31.150 billion last year and the consensus of $31.5 billion.

China Digital TV Holding Co. Ltd (NYSE: STV) 12% LOWER; reports Q2 EPS of $0.18 for diluted ordinary shares ($0.20 for basic ordinary shares) 1 cent lower than the analyst estimate of $0.19. Revenues for the quarter were $19.4 million, versus the consensus of $18.80 million. Sees Q3 sales in the range of $15.5-$16.5 million, versus the consensus $21.14 million. China Digital TV also narrowed its FY08 sales guidance from $79-$84 million to $80-$83 million, versus the consensus of $82.69 million.

Nationwide Financial Services, Inc. (NYSE: NFS) 10% HIGHER; Nationwide Mutual Insurance Company and Nationwide Financial Services entered into a definitive agreement for Nationwide to acquire all of the outstanding publicly held Class A common stock of NFS for $52.25 per share in cash.

King Pharmaceuticals Inc. (NYSE: KG) 10% LOWER; reports Q2 EPS of $0.30, below the consensus of $0.32. Revenues came in at $397 million, versus the consensus of $397.3 million

ENGlobal Corp. (NYSE: ENG) 10% HIGHER; reports Q2 EPS of $0.24, versus the consensus of $0.16. Revenues came in at $136 million, versus the consensus of $103.4 million.

Transmeta Corporation (NASDAQ: TMTA) 8% HIGHER; entered into an agreement with NVIDIA (Nasdaq: NVDA) granting NVIDIA a non-exclusive license to Transmeta’s LongRun and LongRun2 technologies and other intellectual property for use in connection with NVIDIA products. Under the agreement, NVIDIA agrees to pay Transmeta a one-time, non-refundable license fee of $25.0 million. The agreement also includes mutual general releases of all claims by both parties.

LMI Aerospace (Nasdaq: LMIA) 8% HIGHER; reports Q2 EPS of $0.45, 6 cents better than the analyst estimate of $0.39. Revenues for the quarter were $64.9 million, versus the consensus of $61.23 million. LMI Aerospace sees FY08 revenue $249M to $265M versus $251.6 million.

IMAX Corporation (NASDAQ: IMAX) 7% LOWER; reports a Q2 loss of $0.29, 10 cents lower than the analyst estimate of ($0.19). Revenues for the quarter were $21.2 million, versus the consensus of $25.13 million.

VeriSign, Inc. (Nasdaq: VRSN) 6% LOWER; reports Q2 EPS of $0.25, 2 cents better than the analyst estimate of $0.23. Revenues for the quarter were $303 million, versus the consensus of $231.39 million. Verisign Increases buyback by $680 million, bringing total buyback to $1 billion.

Avis Budget Group, Inc. (NYSE: CAR) 5% HIGHER; reports Q2 EPS of $0.15, versus the analyst estimate of $0.06. Revenues for the quarter were $1.6 billion, versus the consensus of $1.52 billion.

Einstein Noah Restaurant Group Inc (Nasdaq: BAGL) 4% HIGHER; reports Q2 EPS of $0.42, 15 cents better than the analyst estimate of $0.27. Revenues for the quarter were $105.4 million, versus the consensus of $106.87 million.

Acorda Therapeutics, Inc. (NASDAQ: ACOR) 4% LOWER; announced the pricing of a public offering of 4,000,000 shares of its common stock at $28.50 per share. The shares are being offered by Deutsche Bank Securities Inc. as underwriter. ACOR closed at $29.93 yesterday.

KBR (NYSE: KBR) 4% HIGHER; announced that its Board of Directors authorized a program to repurchase up to five percent of its outstanding common stock. Additionally, its board of directors has declared a quarterly cash dividend of five cents ($0.05).

Target Corporation (NYSE: TGT) 3% LOWER; July comparable store sales declined 1.2 percent. Net retail sales for the four weeks ended August 2, 2008 increased 4.7 percent to $4,566 million CEO Steinhafel said, "Our comparable store sales performance in July was near the low end of our -1% to +1% planned range."

Wal-Mart Stores, Inc. (NYSE: WMT) 3% LOWER; July Comparable Store Sales rose 3.0% at Walmart U.S. and 3.5% (without fuel) at Sam's Club, for a total of 3%. On guidance, Wal-Mart said, "We estimate U.S. comparable store sales, excluding fuel, for the August four-week period to be between one and two percent, because we still see sales volatility from week to week, especially around paycheck cycles."

Alnylam Pharmaceuticals (Nasdaq: ALNY) 2.8% LOWER; reports a Q2 loss of $0.20 (ex-items), 5 cents worse than the analyst estimate of ($0.15). Revenues for the quarter were $23.8 million, versus the consensus of $22.49 million. Increase their cash guidance to approximately $500 million for year-end 2008.

51job (Nasdaq: JOBS) 2.7% HIGHER; reports Q2 EPS of $0.10 or $0.17, ex-items, versus the analyst estimate of $0.14. Revenues for the quarter were $31.9 million, versus the consensus of $33.81 million.

SINA Corporation (Nasdaq: SINA) 1% HIGHER; reports Q2 EPS of $0.43, 3 cents better than the analyst estimate of $0.40. Revenues for the quarter were $91.3 million, versus the consensus of $89.53 million. Sees Q3 revs of $100-$104 million, versus the consensus of $98.3 million.

Advance Auto Parts (NYSE: AAP) 1% HIGHER; reports Q2 EPS of $0.79, 7 cents better than the analyst estimate of $0.72. Revenues for the quarter were $1.24 billion, versus the consensus of $1.21 billion.

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