StreetInsider.com Pre-Open Movers 08/28

StreetInsider.com Pre-Open Movers:

XOMA Ltd. (Nasdaq: XOMA) 22.8% HIGHER; licensed to Pfizer Inc. (NYSE: PFE) non-exclusive, worldwide rights to XOMA\'s patented bacterial cell expression technology for phage display and other research, development and manufacturing of antibody products. Under the terms of the agreement, XOMA will receive an upfront, non-dilutive cash payment of $30 million and milestone, royalty and other fees on future sales of all products subject to this license, including products currently in late-stage clinical development.

Streamline Health Solutions (Nasdaq: STRM) 15.7% LOWER; Reports a Q2 non-GAAP loss of $0.04 vs. consensus of $0.08 profit - may not be comparable. Using a non-GAAP measure, the Company reported non-GAAP revenue of $4,303,215, which includes approximately $1.1 million in software licensing revenues and excludes approximately $1 million in services and 3rd party components contracted for in the second quarter. (Consensus is $5.6 million)

PolyMedica Corporation (Nasdaq: PLMD) 14% HIGHER; Medco Health Solutions, Inc. (NYSE: MHS), and PolyMedica announced a definitive agreement under which Medco will acquire PolyMedica in an all-cash transaction valued at $53 per share, or $1.5 billion.

Sanderson Farms (Nasdaq: SAFM) 10% LOWER; reports Q3 earnings of $1.51 per share, versus the consensus of $1.93. Revenues came in at $394.8 million versus the consensus of $398.7 million.

Superconductor Technologies (Nasdaq: SCON) 6.6% LOWER; Gives backs some of yesterday's 78% gains.

Wendy's International (NYSE: WEN) 6% HIGHER: The company and 9.8% holder Trian/Triarc entered into a Confidentiality Agreement. In the past, Nelson Peltz's Triarc said it was prepared to offer $37-$41 per share for Wendy's.

Oplink Communications, Inc. (Nasdaq: OPLK) 5% HIGHER; Has approved a share repurchase program authorizing the Company to repurchase up to $40 million of its common stock over the next two years.

Indevus Pharmaceuticals Inc. (Nasdaq: IDEV) 3.5% HIGHER; submitted a New Drug Application to the FDA seeking approval for NEBIDO intramuscular injection, a long-acting testosterone therapy intended to treat male patients with primary and secondary hypogonadism.

Bear Stearns Companies (NYSE: BSC) 3.3% LOWER; Merrill Lynch downgrades to Neutral.

Shanda Interactive (Nasdaq: SNDA) 3% HIGHER; reports Q2 non-GAAP EPS of $0.42, 6 cents better than estimates. Revenues were $74.1 million vs. $72.44 million consensus.

Lehman Brothers Holdings (NYSE: LEH) 2.6% LOWER; Merrill Lynch downgrades to Neutral

American Eagle Outfitters Inc. (NYSE: AEO) 2.3% HIGHER; Cramer highlights on Mad Money

Burlington Northern Santa Fe Corp. (NYSE: BNI) 2% HIGHER; Warren Buffett's Berkshire Hathaway disclosed they raised their stake in Burlington Northern by 10.1 million shares, bringing the total stake to 52.1 million shares.

Gap Inc. (NYSE: GPS) 2% HIGHER; Cramer highlight on Mad Money. Susquehanna upgrades to Positive

Coachmen Industries, Inc. (NYSE: COA) 1.7% LOWER; announced that its Board of Directors has voted to suspend the payment of its quarterly dividend.

Citigroup Inc. (NYSE: C) 1.2% LOWER; Merrill Lynch downgrades to Neutral

and Cost-U-Less, Inc. (Nasdaq: CULS) INDICATED HIGHER; The North West Company will acquire Cost-U-Less for US $52.2 million, or US $11.75 per share in cash.

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