StreetInsider.com Pre-Open Movers: 08/14

StreetInsider.com Pre-Open Movers:

ICAgen Inc. (Nasdaq: ICGN) 64.5% HIGHER; the company and Pfizer (NYSE: PFE) entered a worldwide collaboration and licensing agreement for the discovery, development and commercialization of compounds which modulate three specific sodium ion channels as new potential treatments for pain and related disorders.

Physicians Formula Holdings, Inc. (Nasdaq: FACE) 27.4% LOWER; reports a Q2 loss of $0.04, 1 cent worse than estimates. Revenues were $22.1 million vs. $21.48 million consensus. Sees Q3 loss between $0.02-0.05 (adjusted is loss of $0.03 to $0.00) and net sales between $18.5-20.5 million (Consensus is $0.03 profit and $21.99 million, respectively) Sees FY EPS between $0.52-0.58 (adjusted is $0.66-0.72) and revenues between $107-111 million (Consensus is $0.66 and $112.6 million, respectively)

China BAK Battery Inc. (Nasdaq: CBAK) 27% HIGHER; has signed a non-binding Letter Of Intent with Hewlett-Packard Company (NYSE: HPQ), under which both parties will work together in a set time frame to reach a definitive agreement for BAK to supply lithium ion battery cells to HP.

Thornburg Mortgage Inc. (NYSE: TMA) 16% LOWER; Continues recent decline on more mortgage concerns. Five brokers downgraded the stock today.

Fossil Inc. (Nasdaq: FOSL) 12% HIGHER; reports Q2 EPS of $0.21, $0.26 excluding equity granting expense, versus the consensus of $0.19. Sales rose 18.2% to $306.5 million, versus the consensus of $295.7 million. The Company currently estimates third quarter and full year 2007 diluted earnings per share will approximate $0.33 and $1.58, respectively. Excluding expenses related to the Company's Grant Review, diluted earnings per share are expected to be $0.37 and $1.72 for the third quarter and the full year 2007, respectively. The consensus is $0.39 for Q3 and $1.49 for the full year.

GigaMedia Limited (Nasdaq: GIGM) 11% HIGHER; second-quarter revenues climbed 88 percent to $40.1 million, and operating income increased 119 percent to $10.1 million, both in comparison to the same period of last year, driven by continued record revenues from our poker software business in Continental Europe and growing contributions from our online games business in Asia.

China Techfaith Wireless (NASDAQ: CNTF) 7.6% LOWER; reported Q2 loss of $0.09 per share (ex-charges), 7 cents worse than estimates. (loss of $0.02) Revenues came in at $32 million versus the consensus of $33.2 million. China TechFaith announced the appointment of Mr. Bob Huo as the Deputy CEO of the company. Mr. Huo is an executive director and was the former President of TechFaith and then resumed CEO of TechFaith\'s handset design unit in early 2006. China TechFaith also announced the appointment of Ms. Shelley Sui as an independent director and member of the audit committee, and the resignation of Ms. Ying Han from the Company's board of directors due to health reasons.

STEC Inc (NASDAQ: STEC) 7% HIGHER; reported Q2 earnings of $0.05 per share, ex-items, 3 cents better than estimates. ($0.02) Revenues came in at $43.7 million versus the consensus of $41.6 million. Sees Q3 EPS of $0.04-$0.06, versus the consensus of $0.00. Sees Q3 revs of $43-$45 million versus the consensus of $$44.1 million.

Hibbett Sports, Inc. (NASDAQ: HIBB) 5.6% LOWER; For the 13-week period ended August 4, 2007, the Company expects to report a comparable store sales increase of 2.6% on a fiscal basis compared with the 13-week period ended July 29, 2006 and a decrease of 5.6% on a comparable store, comparable week basis. Earnings per diluted share for the fiscal second quarter is expected to be approximately $0.14 to $0.17 compared with $0.12 in the prior-year period. (Consensus is $0.22)

Fortress Investment Group LLC (NYSE: FIG) 5.5% LOWER; Reports Q2 results

Wal-Mart (NYSE: WMT) 4.9% LOWER; reports Q2 earnings of $0.72 per share, ex-gain, below the consensus of $0.76. Revenues came in at $91.99 billion versus the consensus of $92.68 billion. Sees Q3 EPS of $0.62-$0.65 versus the consensus of $0.68. Sees FY08 EPS of $3.05-$3.13 versus the consensus of $3.15.

DeVry (NYSE: DV) 4% LOWER; reported Q4 earnings of $0.22 per share, 3 cents worse than estimates. ($0.25) Revenues came in at $232.8 million versus the consensus of $241.5 million.

RF Micro Devices Inc (Nasdaq: RFMD) 3.3% HIGHER; Citi upgrades from Hold to Buy

EMC Corporation (NYSE: EMC) 2.2% HIGHER; The company's VMware (NYSE: VMW) unit priced its IPO today at the high end of the expected range.

Seaspan Corporation (NYSE: SSW) 2% LOWER; announced the pricing of 4,500,000 common shares at a public offering price of $33.05 per share. SSW closed at $33.40 yesterday

Answers (NASDAQ: ANSW) INDICATED LOWER; reported Q1 loss of $0.04 per share, 1 cent better than estimates. (loss of $0.05) Revenues came in at $2.8 million versus the consensus of $2.8 million. Sees Q3 revs of $2.2-$2.4 million.

Cinemark Holdings, Inc. (NYSE: CNK) INDICATED HIGHER; reported Q2 EPS of $0.45 per share, versus the consensus of $0.09. Revenues rose 49.1% to $440.0 million, versus the consensus of $421.1 million.

FARO Technologies Inc. (NASDAQ: FARO) INDICATED HIGHER; will replace Vertrue Inc. (NASDAQ: VTRU) in the S&P SmallCap 600 after the close of trading on a date to be announced.

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