StreetInsider.com Pre-Open Movers 03/21

StreetInsider.com Pre-Open Movers:

U.S. Auto Parts Network, Inc. (Nasdaq: PRTS) 44% LOWER; Net sales for the fourth quarter ended December 31, 2006 were $36.8 million, 134% from $15.7 million in the prior year period. Net loss was $(0.02) million, or $(0.00) per diluted share compared to net income of $2.1 million, or $0.16 per diluted share.

ICF International, Inc. (Nasdaq: ICFI) 19% HIGHER; reports Q4 EPS of $0.65 vs. consensus of $0.30. Fourth quarter 2006 revenue of $113.9 million was up 5.7% sequentially from the $107.8 million reported for the 2006 third quarter. In the 2005 fourth quarter, ICF generated revenue of $51.8 million. Based on currently available information, the Company expects to report revenues for the quarter ending March 31, 2007, in the range of $125 million to $135 million and for the full year 2007 in the range of $480 million to $520 million. For both the quarter and the year, the Company seeks to earn net income equal to approximately 5% of revenues. (No consensus available)

Fremont General Corporation (NYSE: FMT) 15% HIGHER; entered into whole loan sale agreements to sell approximately $4 billion of its sub-prime residential real estate loans. The Company has received approximately $950 million in cash from the first sale installment under the agreements with the remaining sales under the agreements expected to be completed over the next several weeks. The Company will sell the loans at a discount, reflecting current conditions in the sub-prime mortgage market. The Company estimates that the sale of the approximately $4 billion of its sub-prime residential loans will result in a pre-tax loss of approximately $140 million.

FSI Int'l (Nasdaq: FSII) 13% LOWER; reports a Q2 loss of $0.02 (ex-items), 2 cents worse than estimates.(0.00) Revenues were $33.3 million vs. $33.76 million consensus. Given the quarter-to-date orders, the Company expects third quarter orders to increase to $24 to $27 million as compared to $19.2 million in the second quarter of fiscal 2007. (Consensus is $36.44 million)

Cintas (Nasdaq: CTAS) 7% LOWER; reports Q3 EPS of $0.48, 4 cents worse than estimates.(0.52) Revenues were $905.4 million vs. $925.10 million consensus. Sees FY revenues between $3.65-3.725 billion vs. $3.76 billion consensus. Sees FY EPS between $2.03-2.08 vs. $2.16.

Diversa Corp. (Nasdaq: DVSA) 6.5% LOWER; intends to offer, subject to market and other conditions, $75.0 million aggregate principal amount of Convertible Senior Notes due 2027

SanDisk Corp. (Nasdaq: SNDK) 6.4% HIGHER; Hynix and SanDisk Announce Patent Cross License Agreement

Gateway Inc. (NYSE: GTW) 5.8% LOWER; Says Not in Talks with Acer - Reuters

Advanced Magnetics Inc. (Nasdaq: AMAG) 5% HIGHER; Deutsche Bank Starts at Buy; $100 tgt

Oracle (Nasdaq: ORCL) 4.9% HIGHER; reports Q3 non-GAAP EPS of $0.25 (ex-items), 2 cents better than estimates.(0.23) Revenues were $4.4 billion vs. $4.33 billion consensus.

Fortress Investment Group LLC (NYSE: FIG) 4.4% HIGHER; A number of firms initiated coverage on Fortress Investment Group LLC today. Banc of America initiates coverage at Buy; Lehman Brothers starts at Overweight; Goldman Sachs starts at Buy; Citigroup starts at Hold.

NVIDIA Corporation (Nasdaq: NVDA) 4% HIGHER; Goldman Sachs upgrade

FedEx Corporation (NYSE: FDX) 3.8% LOWER; reports Q3 EPS of $1.35 (with 6c cut from storms, 8c tax gain), versus the consensus of $1.33. Revenues came in a $8.59 billion versus the consensus of $8.7 billion. Sees Q4 EPS of $1.93-$2.08, versus the consensus of $2.03. Sees FY07 EPS ex-new pilot pact cost of $6.70-$6.85 versus the consensus of $6.78.

Adobe Systems (Nasdaq: ADBE) 3.3% HIGHER; reports Q1 EPS of $0.30, 1 cents better than estimates.(0.29) Revenues were $649.4 million vs. $655.6 million consensus. Sees Q2 EPS between $0.34-0.36 vs. consensus of $0.35. Sees Q2 revenues between $700-740 million vs. $716.85 million consensus.

Morgan Stanley (NYSE: MS) 3.1% HIGHER; reports Q1 EPS of $2.40, versus the consensus of $1.88. Revenues came in at $11 billion versus the consensus of $9.42 billion.

Alcoa Inc. (NYSE: AA) 1.2% LOWER; Prudential downgrade

Alcan Inc. (NYSE: AL) 1.2% LOWER; Prudential downgrade

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