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Pre-Open Movers: NetManage (NETM), Nextest Systems Surge on Buyouts (NEXT); Financial/Mortgage/Brokers Up On Central Banks 'Combo' Liquidity Move

December 12, 2007 9:28 AM EST
StreetInsider.com Pre-Open Movers:

NetManage, Inc. (Nasdaq: NETM) 95% HIGHER; Privately held Rocket Software announced a definitive agreement to acquire NetManage for $7.20 per share, representing a 95% premium over the closing share price of NetManage\'s common stock on December 11, 2007 of $3.69. The aggregate transaction value is approximately $69 million.

Nextest Systems Corp. (NASDAQ: NEXT) 64% HIGHER; Teradyne (NYSE: TER) announced a definitive agreement to acquire Nextest Systems for $20 per share. The aggregate purchase price is expected to be approximately $325 million.

Maguire Properties, Inc. (NYSE: MPG) 14.8% HIGHER; announced a number of steps designed to help the Company achieve greater value for shareholders. These steps by the Company include: 1. forming a Special Committee comprised solely of independent directors to focus on strategic alternatives for achieving shareholder value, including possible sale of the Company ...

Force Protection (Nasdaq: FRPT) 12% LOWER; Stanford initiates coverage on Force Protection with a Sell. Price target $5.

The Cooper Companies, Inc. (NYSE: COO) 10% LOWER; reported Q4 EPS of $0.54, ex-items, versus the analyst estimate of $0.68. Revenues for the quarter were $253.8 million, versus the consensus of $248.81 million.

Nuance Communications, Inc. (NASDAQ: NUAN) 10% LOWER; plans to offer in an underwritten public offering 9,600,000 shares of its common stock. Warburg Pincus, a selling stockholder, is expected to sell an additional 4,800,000 shares in the offering, and certain members of Nuance management are expected to sell an additional 600,000 shares in the offering. Nuance will not receive any proceeds from sales of shares made by selling stockholders.

Iomega Corporation (NYSE: IOM) 9% HIGHER; entered into a definitive share purchase agreement to acquire ExcelStor Great Wall Technology Limited, a Cayman Islands company, and Shenzhen ExcelStor Technology Limited, a PRC company.

Countrywide Financial Corp. (NYSE: CFC) 8% HIGHER; the Bank of Canada, the Bank of England, the European Central Bank, the Federal Reserve, and the Swiss National Bank announced measures designed to address elevated pressures in short-term funding markets

United Online, Inc. (Nasdaq: UNTD) 7% LOWER; said its wholly-owned subsidiary, Classmates Media Corporation, intends to withdraw its IPO. The company cited current market conditions.

Network Equipment Technologies, Inc. (NYSE: NWK) 7% LOWER; intends to offer $85 million aggregate principal amount of Convertible Senior Notes in a private offering to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended.

The Manitowoc Company, Inc. (NYSE: MTW) 5% HIGHER; sees EPS for 2008, excluding any unusual items, to be in a range of $3.20 to $3.40. The Wall Street consensus is $3.10. The company also expects to exceed its current guidance for full year 2007 earnings per share. The company is raising its most recent earnings per share guidance of $2.45 to $2.50 per share to a new range of $2.55 to $2.60 per share. The Wall Street consensus is $2.50.

Washington Mutual Inc. (NYSE: WM) 4.8% HIGHER; the Bank of Canada, the Bank of England, the European Central Bank, the Federal Reserve, and the Swiss National Bank announced measures designed to address elevated pressures in short-term funding markets

Alpharma Inc. (NYSE: ALO) 3.9% LOWER; expects 2008 revenue growth in the range of 13% to 15%, and 2008 diluted earnings per share in the range of $0.30 to $0.50. The consensus is $0.70 (may not compare)

Merrill Lynch & Co., Inc. (NYSE: MER) 3% HIGHER; Bank of Canada, the Bank of England, the European Central Bank, the Federal Reserve, and the Swiss National Bank announced measures designed to address elevated pressures in short-term funding markets.

The Andersons Inc. (NASDAQ: ANDE) 2.5% HIGHER; will replace C-COR Inc. (NASDAQ: CCBL) in the S&P SmallCap 600 after the close on Friday, December 14, 2007.

Citigroup Inc. (NYSE: C) 2% HIGHER; Bank of Canada, the Bank of England, the European Central Bank, the Federal Reserve, and the Swiss National Bank announced measures designed to address elevated pressures in short-term funding markets.

Cardiome Pharma Corp. (NASDAQ: CRME) INDICATED HIGHER; An FDA panel has recommended that the FDA approve KYNAPID, the intravenous formulation of vernakalant hydrochloride, an investigational new drug for rapid conversion of acute atrial fibrillation.

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