StreetInsider.com Pre-Open Movers 06/21

June 21, 2006 9:22 AM EDT
StreetInsider.com Pre-Open Movers:

Fonar Corp. (Nasdaq: FONR) 60% HIGHER; said it has been awarded a contract from the Defense Supply Center Philadelphia, part of the Defense Logistics Agency of the U.S. Department of Defense (DoD), to supply the FONAR Upright MRI scanner and related line of MR products.

Cell Therapeutics Inc. (Nasdaq: CTIC) 10% HIGHER; Societe Generale Agrees to Purchase Up to euro 45 Million ($55 million) of CTI Common Stock in a Step-Up Equity Financing

FSI International, Inc. (Nasdaq: FSII) 9.6% HIGHER; reports a Q3 loss of $0.08, 1 cent worse than estimates. Revenues were $32.0 million vs. $28.26 million consensus. FSII sees Q4 revenues between $35-$40 million vs. $31.91 million consensus.

Spansion Inc. (Nasdaq: SPSN) 3.8% HIGHER; raised its revenue guidance range for the second quarter ending June 30, 2006 as a result of strong worldwide demand from the cellular phone, consumer and industrial markets. The company now expects that second quarter revenue will be in the range of $605 million to $635 million as compared to previous second quarter guidance of $590 million to $620 million. The Wall Street consensus is $600.93 million.

Christopher & Banks Corp. (NYSE: CBK) 3.6% LOWER; Christopher & Banks Corporation (NYSE: CBK) reports Q1 EPS of $0.39, 2 cents better than estimates. Revenues were $142.5 million vs. $141.7 million consensus. Sees Q2 EPS of $0.17 to $0.19 (w/2c stock expense) versus the consensus of $0.19. Sees FY EPS of $1.06-$1.10 (w/8c stock expense) versus the consensus of $1.08.

Aeropostale Inc. (NYSE: ARO) 3.4% HIGHER; Buckingham upgrades to Accumulate.

Morgan Stanley (NYSE: MS) 2.8% HIGHER; reports Q2 EPS of $1.85, versus the consensus of $1.45. Revenues came in at $8.9 billion versus the consensus of $7.87 billion.

Darden Restaurants Inc. (NYSE: DRI) 2.6% HIGHER; reports Q4 EPS of $0.60, in-line with estimates. Revenues were $1.5 billion vs. $1.5 billion consensus. Issues Guidance For 2007 and Approves Additional Stock Buyback Plan

FedEx Corporation (NYSE: FDX) 2.4% HIGHER; reports Q3 EPS of $1.82, 5 cents better than estimates. Revenues came in at $8.49 billion versus the consensus of $8.42 billion. Sees Q1 EPS of $1.45-$1.60 versus the consensus of $1.43. Sees FY EPS of $6.45-$6.80 (w/15c stock exp) versus the consensus of $6.73.

Foundry Networks, Inc. (Nasdaq: FDRY) 2% HIGHER; Kaufman Brothers upgrades to Buy

Global Crossing Ltd. (Nasdaq: GLBC) 1.8% HIGHER; Goldman Starts at Outperform

JP Morgan Chase & Co. (NYSE: JPM) 1.2% LOWER; Prudential downgraded from Overweight to Neutral

Building Materials Holding Corp. (Nasdaq: BMHC) INDICATED LOWER; Suntrust downgrades Building Materials to Neutral

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