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StreetInsider.com Pre-Open Movers 07/25

July 25, 2006 9:28 AM EDT
StreetInsider.com Pre-Open Movers:

Encysive Pharmaceuticals Inc. (Nasdaq: ENCY) 44% LOWER; received an approvable letter from the FDA for THELIN, for the treatment of pulmonary arterial hypertension, saying of the substantive items raised in the March 24, 2006 approvable letter, one remains unresolved.

Ryan's Restaurant Group, Inc. (Nasdaq: RYAN) 40% HIGHER; Buffets, Inc., and Ryan's Restaurant Group, Inc. (Nasdaq: RYAN) announced the signing of an agreement under which a subsidiary of Buffets will merge with Ryan's in a cash transaction valued at approximately $876 million, including debt that will be assumed or repaid at or prior to closing. Ryan's shareholders will receive $16.25 in cash for each share they own.

Altus Pharmaceuticals Inc. (NASDAQ: ALTU) 36% LOWER; provided an update on its plans for initiation of Phase III clinical trials for ALTU-135 and ALTU-238. After having successfully completed Phase II clinical trials, Altus had previously planned to initiate Phase III trials for both programs in the second half of this year. With respect to ALTU-135, the Company's orally administered enzyme replacement therapy, Altus now expects to perform additional manufacturing development work in advance of initiating its Phase III trial in patients with pancreatic insufficiency.

Oscient Pharmaceuticals (Nasdaq: OSCI) 30% HIGHER; has agreed to acquire U.S. rights to the cardiovascular product ANTARA 130 mg capsules from Reliant Pharmaceuticals

Zoran (Nasdaq: ZRAN) 24% LOWER; reports Q2 revenue of $122.3 million versus the consensus of $119.8 million. Ses Q3 revenue of of $130-$134 million versus the consensus of $138.34 mln consensus

Netflix (Nasdaq: NFLX) 19.9% LOWER; reports Q2 non-GAAP EPS of $0.27 ($0.24 on a GAAP basis), vs current estimate of $0.18. Revenues were $239.4 million vs. $242.6 million consensus. Sees Q3 revs of $249-$254 million versus the consensus of $258.3 million. Sees FY06 revs of at least $980 million versus the consensus of $1.01 billion.

Rightnow Technologies (Nasdaq: RNOW) 15% LOWER; reports Q2 EPS of $0.00, 2 cents worse than estimates.(0.02) Revenues were $26.9 million vs. $26.56 million consensus.

SanDisk Corp. (NASDAQ: SNDK) 15% HIGHER; SanDisk (Nasdaq: SNDK) reports Q2 EPS of $0.58, 14 cents better than estimates.(0.44) Revenues were $719.0 million vs. $691.44 million consensus.

WatchGuard Technologies Inc. (NASDAQ: WGRD) 12.6% HIGHER; to Be Acquired by Francisco Partners

Avaya (NYSE: AV) 12% LOWER; reports Q3 EPS of $0.10, may not be comparable to consensus of $0.12. Revenues were $1.3 billion vs. $1.26 billion consensus.

NutriSystem Inc. (NASDAQ: NTRI) 11.3% LOWER; reports Q2 EPS of $0.53, 7 cents better than estimates.(0.46) Revenues were $133 million vs. $123.22 million consensus. Company announces departure of COO for family health reasons. Raises full year guidance.

DXP Enterprises Inc. (NASDAQ: DXPE) 10% HIGHER; announced a 99.7% increase in net income to $2,950,000 for the second quarter ending June 30, 2006 with diluted earnings per share of $0.51 compared to net income of $1,477,000 and diluted earnings per share of $0.26 for the second quarter of 2005.

Enzon Pharmaceuticals, Inc. (Nasdaq: ENZN) 10% HIGHER; FDA Approves Enzon's Oncaspar(R) for First-Line Use in Acute Lymphoblastic Leukemia

Orckit Communcations (Nasdaq: ORCT) 9.9% LOWER; reports Q2 EPS of $0.02, 5 cents better than estimates.(-.03) Revenues were $14.7 million vs. $13.0 million consensus. But said, as a result of lower demand for our products in Japan this year, they are reducing guidance for 2006.

United Parcel Service Inc. (NYSE: UPS) 9.6% LOWER; reports Q2 EPS of $0.97, 3 cents worse than estimates. Revenues came in at $11.74 billion versus the consensus of $11.61 billion. Sees Q3 EPS of $0.87-$0.91 versus the consensus of $0.97. Sees FY EPS at low end of 11%-16% forecast. Raises buyback by $2 billion.

Station Casinos (NYSE: STN) 7.5% LOWER; reports Q2 EPS of $0.61, 2 cents worse than estimates.(0.63) Revenues were $341.8 million vs. $342.57 million consensus. STN sees EPS of $0.49 to $0.54 for the third quarter vs. $0.58 consensus.

Radyne Corp. (NASDAQ: RADN) 6.7% HIGHER; reports Q2 EPS of $0.17, 4 cents better than estimates.(0.13) Revenues were $34.6 million vs. $30.98 million consensus.

BJ Services (NYSE: BJS) 5.6% HIGHER; reports Q3 EPS of $0.67, 9 cents better than estimates.(0.58) Revenues were $1.12 billion vs. $1.06 billion consensus. Sees Q4 EPS between $0.73-0.75 vs. consensus of $0.67. Sees fiscal year 2007 consolidated revenue growth expectations in the range of 20%.

Medicines Co. (Nasdaq: MDCO) 5% HIGHER; reports Q2 earnings of $0.22 per share, 10 cents better than estimates. Revenues came in at $59.4 million versus the consensus of $52.9 million. Sees FY06 revenues of $205-$212 million versus the consensus $202.9 million.

Altera (Nasdaq: ALTR) 3.6% HIGHER; reports preliminary Q2 revenues were $334.1 million vs. $318.06 million consensus. ALTR sees Q3 revenues between $334-344 million vs. $326 million consensus.

Nabors Industries (NYSE: NBR) 3.6% HIGHER; reports Q2 EPS of $0.82, 10 cents better than estimates. Revenues were $1.13 billion vs. $1.09 billion consensus.

Carlisle Companies (NYSE: CSL) 3.5% HIGHER; reports Q2 EPS of $1.76, 20 cents better than estimates.(1.56) Revenues were $692.7 million vs. $651.20 million consensus. Sees FY EPS between $5.25-5.45 vs. previous guidance of $5.00-5.20 vs. current consensus of $5.15.

FedEx Corporation (NYSE: FDX) 3.3% LOWER; Weak guidance from rival UPS

United States Steel Corp. (NYSE: X) 2.4% HIGHER; reports Q2 EPS ex-tax adjustment of $3.10 versus the consensus of $2.38.

Lockheed Martin (NYSE: LMT) 2.2% HIGHER; reports Q2 EPS of $1.34, 18 cents better than estimates.(1.16) Revenues were $9.97 billion vs. $9.76 billion consensus. LMT raises FY revenues outlook to $38.5-39.5 billion vs. previous guidance of 38.0-39.5 billion vs. current consensus of $39.4 billion. LMT raises FY EPS outlook to $5.10-5.30 vs. previous guidance 4.65-4.85 vs. current consensus of $4.93.

3M Co. (NYSE: MMM) 1.9% LOWER; reports Q3 EPS of $1.05, ex-10 cent gains, 2 cents worse than estimates. Revenues came in at $5.69 billion versus the consensus of $5.68 billion. Sees Q3 EPS of $1.10-$1.15, with 4c stock options expense, versus the consensus of $1.16. Sees FY06 EPS of $4.55-$4.55 versus the consensus of $4.54.

Texas Instruments (NYSE: TXN) 1.8% HIGHER; reports Q2 EPS of $0.47, in-line with estimates.(0.47) Revenues were $3.7 billion vs. $3.68 billion consensus. Sees Q3 EPS between $0.42-0.48 vs. $0.45 consensus. Sees Q3 revenues between $3.63-3.95 billion vs. $3.83 billion consensus

AT&T Inc. (NYSE: T) 1.2% HIGHER; reports Q2 EPS of $0.58, 5 cents better than estimates. Revenues came in at $24.66 billion versus the consensus of $21.28 billion. Sees FY adjusted operating income margins in the 17%-18% range

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