StreetInsider.com Pre-Open Movers 09/20

StreetInsider.com Pre-Open Movers:

BioCryst Pharmaceuticals, Inc. (Nasdaq: BCRX) 31% LOWER; announced preliminary findings from a Phase II study with intramuscular (i.m.) injection of peramivir, its candidate for the treatment of seasonal and life-threatening influenza. The company said the improvement over placebo was not statistically significant.

NetScout Systems, Inc. (NASDAQ: NTCT) 9.6% HIGHER; entered into a definitive agreement to acquire Network General Corporation, in a combined cash, stock, and debt transaction currently valued at approximately $205 million. NetScout also announced revised guidance for its second quarter. Total revenue for the second quarter is expected to be in the range of $29 million to $30 million, an increase over the previously issued guidance range of $28 million to $29 million (consensus is $28.3 million) Net income per diluted share is expected to be in the range of $0.09 to $0.10, higher than previously issued guidance of $0.08 to $0.09 (consensus is $0.08).

Circuit City Stores Inc. (NYSE: CC) 9% LOWER; reports Q2 loss of $0.38, versus the consensus of a $0.12 loss. Q2 comps fell 7.9%. Revenues came in at $2.64 billion versus the consensus of $2.78 billion.
The company expects continued weakness in its third quarter results, with a net loss from continuing operations less than that of the second quarter. The improvement will result from stabilizing performance levels as the pace of change slows in both the stores and the store support center. The company expects to deliver a net profit for the fourth quarter and a full-year net loss from continuing operations.

Monolithic Power Systems (Nasdaq: MPWR) 7.6% HIGHER; now expects third quarter revenue to be in the range of $38 million to $39 million. Prior revenue guidance for the third quarter was a range of $33 million to $35 million. The consensus is $34.3 million.

Cott Corporation (NYSE: COT) 6.5% LOWER; announced lower 2007 earnings expectations. The Company is lowering its earnings expectations for 2007 as a result of higher than expected industry volume declines in key markets, increased promotional activity by national brands, and the continuing impact of commodity costs not sufficiently offset in the short term by growth and cost-cutting initiatives.

NPS Pharmaceuticals, Inc. (Nasdaq: NPSP) 6% HIGHER; Said the FDA has granted orphan drug designation to PREOS for the treatment of hypoparathyroidism, a rare deficiency of parathyroid hormone for which there is no FDA-approved therapy.

Cree Inc. (Nasdaq: CREE) 5.7% HIGHER; Renewed rumors GE could buy the company

CLARCOR Inc. (NYSE: CLC) 5% LOWER; reported Q3 EPS of $0.45, ex-gain, versus the consensus of $0.49. Revenues came in at $238.3 million versus the consensus of $248.7 million. Sees 2007 EPS of $1.66-$1.70, ex-gain, versus the consensus of $1.77.

Herman Miller Inc. (Nasdaq: MLHR) 4% LOWER; reports Q1 EPS of $0.54, 4 cents better than estimates. Revenues came in at $491.7 million versus the consensus of $489.7 million. Sees Q2 EPS of $0.51-$0.57, versus the consensus of $0.59. Sees Q2 sales of $475-$500 million versus the consensus of $519.6 million.

Radian Group Inc. (NYSE: RDN) 4% HIGHER; Continues today's 9% move higher following yesterday's rate cut. Sold a portion of its investment in Sherman Financial Group LLC to an entity owned by Sherman management.

Goldman Sachs Group Inc. (NYSE: GS) 2.3% HIGHER; reports Q3 EPS of $6.13 versus the consensus of $4.35. Revenues came in at $12.3 billion versus the consensus of $9.57 billion.

FedEx Corporation (NYSE: FDX) 1.9% LOWER; reports Q1 EPS of $1.58, 4 cents better than estimates. Revenues came in at $9.2 billion versus the consensus of $9.07 billion. FedEx expects earnings to be $1.60 to $1.75 per diluted share in the second quarter, versus the consensus of $1.97. For the full year, the company now expects earnings of $6.70 to $7.10 per diluted share, versus the consensus of $7.19.

Bear Stearns Companies Inc. (NYSE: BSC) 1.5% LOWER; reports Q3 EPS of $1.16, versus the consensus of $1.78. Revenues cmae in at $1.3 billion versus the consensus of $1.64 billion. Boosts buyback to $2.5 billion

ConAgra Foods, Inc., (NYSE: CAG) 1.3% HIGHER; reports Q1 EPS of $0.34, ex-items, versus the consensus of $0.29. Revenues came in at $2.96 billion versus the consensus of $2.79 billion. Still sees FY08 EPS of $1.48, versus the consensus of $1.50.

Motorola Inc. (NYSE: MOT) 1.3% HIGHER; Cowen upgrades to Outperform

American Greetings Corp. (NYSE: AM) INDICTED HIGHER; reports Q2 EPS of $0.16, versus the consensus of a $0.07 loss. Revenues came in at $377.4 million versus the consensus of $336.8 million. The company affirmed its previously announced estimate of earnings per share from continuing operations for fiscal 2008 to be between $1.35 to $1.55 per share. The consensus is $1.45.

Monro Muffler Brake, Inc. (Nasdaq: MNRO) INDICTED LOWER; anticipates second quarter 2008 diluted earnings per share to be in the range of $.41 to $.43. This compares with the Company's previous expected range of $.53 to $.56 per diluted share as stated in its first quarter earnings release. The Wall Street consensus is $0.54. For the full year, the Company has revised its expected range for comparable store sales growth to 2% to 4%, which compares with its previous expected range of 3% to 5%, as stated in its first quarter 2008 earnings release.

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