StreetInsider.com Pre-Open Movers 07/27

StreetInsider.com Pre-Open Movers:

Isilon Systems (NASDAQ: ISLN) 29% LOWER; reports Q2 loss of $0.04, in-line with estimates. Revenues came in at $25.1 million versus the consensus of $26.4 million. Sees Q3 revs of $25-$27 million versus the consensus of $31.4 million. Sees FY07 revs of $98-$105 million versus the consensus of $118 million.

Kyphon (NASDAQ: KYPH) 28% HIGHER; Medtronic, Inc. (NYSE: MDT) and Kyphon announced that the companies have signed a definitive merger agreement under which Medtronic will acquire all of the outstanding shares of Kyphon for $71 per share in cash. The transaction, which was unanimously approved by the boards of directors of both companies, is valued at approximately $3.9 billion.

Crocs (NASDAQ: CROX) 16.6% HIGHER; reported Q2 earnings of $0.58 per share, 14 cents better than estimates. ($0.44) Revenues came in at $224.3 million versus the consensus of $192.7 million. Sees Q3 EPS of $0.58-$0.62, versus the consensus of $0.43. Sees Q3 revs of $240-$250 million versus the consensus of $195.9 million. Sees FY EPS of $1.89-$1.93, versus the consensus of $1.56. Sees FY revs of $810-$820 million versus the consensus of $712.2 million.

Building Materials (NYSE: BLG) 13% HIGHER; reported Q2 earnings of $0.47 per share, ex-items, 41 cents better than estimates. ($0.06) Revenues came in at $697 million versus the consensus of $654.1 million.

QLogic Corp. (NASDAQ: QLGC) 13% LOWER; reports Q1 non-GAAP EPS of $0.20, in-line with estimates. Revenues were $139.8 million vs. $143 million consensus.

Visicu (NASDAQ: EICU) 13% LOWER; reported Q2 earnings of $0.06 per share, 2 cents better than estimates. ($0.04) Revenues came in at $9.1 million versus the consensus of $9.1 million.

NETGEAR (NASDAQ: NTGR) 13% LOWER; reported Q2 earnings of $0.38 per share, 1 cents worse than estimates. ($0.39) Revenues came in at $164.3 million versus the consensus of $167.9 million. Sees Q3 revs of $178-$182 million, versus the consensus of $177.2 million.

Deckers Outdoor (NASDAQ: DECK) 7% HIGHER; reported Q2 earnings of $0.20 per share, 9 cents better than estimates. ($0.11) Revenues came in at $52.7 million versus the consensus of $49.3 million. Sees FY revenue growth of 35%, versus prior view of 25%. Sees FY EPS up 25%, versus prior view of 15%

Cymer, Inc. (Nasdaq: CYMI) 7% HIGHER; reports Q2 EPS of $0.67, 16 cents better than estimates. Revenues were $122.94 million vs. $125.86 million consensus. Based on information available at this time, Cymer is currently providing the following guidance for the third quarter of 2007, and anticipates: Total revenue to be approximately flat compared to the revenue reported for the second quarter of 2007. (Consensus is $132.56 million) Gross margin to be in a range of 50 to 52 percent; Research and development expenses to be between $20 million and $21 million; Selling, general and administrative expenses to between $17 million and $17.5 million; and The estimated annual effective tax rate to be approximately 35 percent.

Six Flags (NYSE: SIX) 6.6% LOWER; reported Q2 loss of $0.54 per share, 29 cents worse than estimates. (loss of $0.25) Revenues came in at $344.8 million versus the consensus of $348.8 million. (The increased net loss for the quarter reflects the results of continuing operations and $3.1 million, or $0.03 per common share, of increased loss from discontinued operations.)

Riverbed Technology (NASDAQ: RVBD) 6% LOWER; reported Q2 Non-GAAP earnings of $0.16 per share, 3 cents better than estimates. ($0.13) Revenues came in at $54 million versus the consensus of $49.8 million.

Genesis Microchip (NASDAQ: GNSS) 5% HIGHER; reported Q1 non-GAAP loss of $0.18 per share, 3 cents better than estimates. (loss of $0.21) Revenues came in at $44.0 million versus the consensus of $42.1 million. Sees Q2 Revenues in the range of $50 million to $55 million; GAAP operating expenses to be in the range of $28.5 million to $30 million. The Company expects that non-GAAP (1) operating expenses will be lower than GAAP operating expenses because of the exclusion of charges for non-cash stock-based compensation and amortization of intangible assets which are estimated to be approximately $4 million; GAAP gross margins to be in the range of 36 percent to 38 percent. (Q2 revenue consensus is $48.12 million)

Sycamore Networks (Nasdaq: SCMR) 5% HIGHER; Cramer higlights the stock on Mad Money.

GigaBeam Corporation (NASDAQ: GGBM) 4% HIGHER; received an order for five WiFiber® links from MetroNext, Inc, a next generation wireless service provider serving major metropolitan areas in the northeastern region of the U.S.

Medco Health Solutions (NYSE: MHS) 3.5% HIGHER; reports Q2 earnings of $0.86 per share, ex-items, 9 cents better than estimates. Revenues came in at $11.05 billion versus the consensus of $11.25 billion. Sees FY07 EPS of $3.50-$3.55 versus the consensus of $3.44.

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