StreetInsider.com Pre-Open Movers 08/31

StreetInsider.com Pre-Open Movers 08/31:

Peerless Systems Corp. (Nasdaq: PRLS) 43% HIGHER; reports Q2 EPS of $0.07, 8 cents better than estimates.(-.01) Revenues were $6.94 million vs. $6.3 million consensus. Management reiterated its prior forecast of profitable results during the second half of fiscal 2008. Expectations for fiscal 2008 net income continue to be in a range of between $3.8 million and $4.5 million. Full-year revenue is expected to range from $29.0 million to $31.0 million. As previously stated, this forecast is contingent upon the closing of a significant amount of block license revenue. (FY08 revenue consensus is $28.91 million)

Accredited Home Lenders Holding Co. (Nasdaq: LEND) 41% HIGHER; news Lone Star is prepared to amend the Offer immediately to change the Offer Price to $8.50 per Company Common Share, which represents a premium of 35% over the closing price of the Company Common Shares on August 30, 2007. As part of the amended Offer, Lone Star would modify the conditions to the Offer such that the only substantial condition to the consummation of the Offer would be the Minimum Condition.

Open Text Corp. (Nasdaq: OTEX) 18% HIGHER; reports Q4 adj-EPS of $0.52, above the consensus of $0.40. Revenues came in at $175.2 million versus the consensus of $166.56 billion.

Fremont General Corporation (NYSE: FMT) 14% HIGHER; Reports of President Bush Subprime Bailout. Also, LEND gets amended buyout offer.

Novastar Financial Inc. (NYSE: NFI) 11% HIGHER; Reports of President Bush Subprime Bailout. Also, LEND gets amended buyout offer.

OmniVision Technologies Inc. (Nasdaq: OVTI) 10% HIGHER; reports Q1 EPS $0.23, $0.35 ex-items, versus the consensus of $0.18. Revenues came in at $173.1 million versus the consensus of $160.25 million. Sees Q2 revenues of $210-$230 million, versus the consensus of $170.7 million. Sees Q2 EPS of $0.19-$0.31, or adj-EPS of $0.34-$0.36, versus the consensus of $0.22.

Tercica, Inc. (NASDAQ: TRCA) 10% HIGHER; said its partner Ipsen has received notice of approval from the FDA for marketing Somatuline Depot injection 60, 90 and 120 mg/ml in the United States.

Beazer Homes USA (NYSE: BZH) 10% HIGHER; Reports of President Bush Subprime Bailout.

Thornburg Mortgage Inc. (NYSE: TMA) 8% HIGHER; Reports of President Bush Subprime Bailout. Also, LEND gets amended buyout offer.

Advanced Energy Industries, Inc. (Nasdaq: AEIS) 8% LOWER; lowered its expected third quarter revenue guidance. The company expects third quarter revenue to be in the range of $88 million to $92 million versus its previous guidance of $95 million to $100 million, due to further weakness in the semiconductor market. (Consensus is $98.18 million)

Credence Systems Corp. (Nasdaq: CMOS) 7% LOWER; reports Q3 EPS of $0.09, above the consensus of $0.05. Revenues came in at $123.5 million versus the consensus of $122.7 million. Sees Q4 sales of $101-$105 million versus the consensus of $123.9 million. Sees Q4 EPS of about break-even versus the consensus of a $0.05 profit.

SkillSoft PLC (Nasdaq: SKIL) 6% HIGHER; reoprts Q2 GAAP EPS of $0.11 vs. consensus of $0.03. Revenues were $71.5 million vs. $68.3 million consensus. For FY08, Revenue is expected to be in the range of $272.0 million to $280.0 million compared to the previously targeted range of $234.0 million to $242.0 million. (Consensus is $271.51 million). For FY08, GAAP net income is expected to be in the range of $20.5 million to $23.0 million, or $0.19 to $0.21 per basic and diluted share compared to the previously targeted range of $31.0 million to $35.0 million, or $0.30 to $0.33 per basic and diluted share. (Consensus is $0.26)

Countrywide Financial (NYSE: CFC) 6% HIGHER: Reports of President Bush Subprime Bailout.

Cost Plus Inc. (Nasdaq: CPWM) 5% LOWER; reports a Q2 adjusted loss of $0.66, 1 cent worse than estimates.(-.65) Revenues were $215.2 million vs. $217.28 million consensus. For the third quarter of fiscal 2007, the Company is projecting a net loss in the range of $16 million to $18 million, or a net loss of $0.73 to $0.80 per diluted share. (Consensus is a $0.45 loss)

Christopher & Banks Corporation (NYSE: CBK) 4% LOWER; Matthew Dillon has resigned as President and Chief Executive Officer, and as a member of the board of directors, effective August 30, 2007.

Toll Brothers Inc. (NYSE: TOL) 3.5% HIGHER; Reports of President Bush Subprime Bailout.

LifeCell Corp. (NASDAQ: LIFC) 3% HIGHER; will replace Komag Inc. (NASDAQ: KOMG) in the S&P SmallCap 600 after the close of trading on Wednesday, September 5.

Smith Micro Software Inc. (NASDAQ: SMSI) 3% HIGHER; will replace MAF Bancorp Inc. (NASDAQ: MAFB) in the S&P SmallCap 600

Lennar Corp. (NYSE: LEN) 2.8% HIGHER; Reports of President Bush Subprime Bailout.

Microchip Technology Inc. (NASDAQ: MCHP) 2.5% HIGHER; will replace Compass Bancshares Inc. (NASDAQ: CBSS) in the S&P 500

Dell (Nasdaq: DELL) 2.4% HIGHER; reports Q2 EPS of $0.32, 2 cents better than estimates.(0.30) Revenues were $14.8 billion vs. $14.63 billion consensus.

Jones Lang Lasalle Inc. (NYSE: JLL) 1.7% HIGHER; will replace Microchip Technology in the S&P MidCap 400 after the close of trading on Friday, September 7.

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