Pre-Open Movers: Edge Petroleum (EPEX) Higher on Strategic Review, Exar (EXAR) Lower on Guidance

StreetInsider.com Pre-Open Movers:

Force Protection (Nasdaq: FRPT) 26% LOWER; Force Protection, Navistar, BAE split $2.66B DoD truck order. Force Protection's award valued at $377M

Edge Petroleum Corporation (Nasdaq: EPEX) 20% HIGHER; retained Merrill Lynch & Co. to evaluate and advise the Board of Directors regarding strategic alternatives to enhance shareholder value including the potential sale or merger of the Company.

Chemtura Corporation (NYSE: CEM) 19% HIGHER; said its Board of Directors has authorized management to consider a wide range of strategic alternatives. A Special Committee of independent directors of the Board of Directors has been formed to oversee the process. Chemtura hired Merrill Lynch as its financial advisor. Strategic alternatives to be considered may include, among others, select business divestitures, value-creating acquisitions, changes to the company's capital structure, or a possible sale, merger or other business combination involving the entire company.

DG FastChannel, Inc. (NASDAQ: DGIT) 19% HIGHER; now expects to generate full year 2007 pro forma revenue in a range of $116 million to $118 million and pro forma EBITDA of approximately $39 million. DG FastChannel’s prior 2007 pro forma guidance was for revenue in a range of $110 million to $113 million and EBITDA in a range of $37 million to $39 million. The company also raised its 2008 revenue and EBITDA guidance on a pro forma basis.

Palm, Inc. (Nasdaq: PALM) 10% LOWER; reports Q2 loss of $0.07, versus the consensus of a $0.08 loss. Revenues came in at $349.8 million, versus the consensus of $350.3 million. Sees Q3 revenues of $310-$320 million, versus the consensus of $358 million. Sees Q3 adj loss of $0.14-$0.16, versus the consensus of a $0.04 loss.

Exar Corporation (Nasdaq: EXAR) 10% LOWER; expects that the December quarter GAAP revenue will be between $22.5 million and $23.5 million. The Wall Street consensus is $32.25 million.

Idera Pharmaceuticals, Inc. (Nasdaq: IDRA) 7.6% HIGHER; entered into a worldwide licensing and collaboration agreement with Merck KGaA of Darmstadt, Germany, for the research, development and commercialization of Idera's Toll-like Receptor 9 agonists for the treatment of cancer.

Darden Restaurants Inc. (NYSE: DRI) 7% LOWER; reports Q2 EPS $0.30, which does not compare to the consensus of $0.50. Revenues came in at $1.52 billion, versus the consensus of $1.51 billion. Given the dynamics of the current cost environment, which are due in part to the impact a weaker U.S. dollar is having on commodities and the cost of products Darden imports from many different countries, the Company now anticipates that diluted net earnings per share growth will be 2% to 4% in fiscal 2008, which includes the transaction and integration related costs and purchase accounting adjustments related to the RARE Hospitality acquisition.

Blue Nile Inc. (NASDAQ: NILE) 6.8% HIGHER; Citi upgrades Blue Nile to Buy

Rambus Inc. (NASDAQ: RMBS) 6.5% LOWER; revised its fourth quarter revenue guidance of $45 to $50 million. The company now expects revenue to be approximately $40 million for the quarter ending December 31, 2007.

Hovnanian Enterprises (NYSE: HOV) 6% LOWER; reports a Q4 loss of $7.42 per share, versus the consensus of a $1.49 loss. Revenues came in at $1.39 billion versus the consensus of $1.32 billion.

CarMax Inc. (NYSE: KMX) 5% LOWER; reported Q3 EPS of $0.14, 3 cents lower than the analyst estimate of $0.17. Revenues for the quarter were $1.89 million, versus the consensus of $1.89 billion. Due to continued tightening in the credit market, CarMax said they would need to lower expected FY08 EPS: now sees EPS in the range of $0.87 to $0.93, down from previous guidance of $0.92 to $0.98, and versus the consensus of $0.95.

TD AMERITRADE (NASDAQ: AMTD) 4% HIGHER; expects its earnings per share to be approximately $0.39, well above the $0.27-$0.33 guidance range. The consensus is $0.32.

E*TRADE (NASDAQ: ETFC) 3% HIGHER; related to higher guidance from rival TD AMERITRADE

NYMEX Holdings (NYSE: NMX) 1% HIGHER; Deutsche Bank upgrades to Buy

Union Pacific (NYSE: UNP) INDICATED LOWER; said fourth quarter 2007 earnings are expected to be reduced by approximately $0.20 per diluted share. This lower guidance reflects rapidly rising diesel fuel costs and the corresponding lag in fuel surcharge recoveries.

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