StreetInsider.com Pre-Open Movers 10/31

October 31, 2006 9:19 AM EST
StreetInsider.com Pre-Open Movers:

Sirna Therapeutics, Inc. (NASDAQ: RNAI) 96% HIGHER; Merck & Co., Inc. (NYSE: MRK) and Sirna Therapeutics, Inc. announced that they have entered into a definitive agreement under which Merck will acquire Sirna for $13 per share.

AVANIR Pharmaceuticals (NASDAQ: AVNR) 42% LOWER; announced that it has received an approvable letter from the FDA for Zenvia (formerly referred to as Neurodex) for the treatment of involuntary emotional expression disorder. The communication from the FDA indicates that AVANIR's application is approvable, subject to the FDA and AVANIR reaching agreement on what additional safety and efficacy data will be required.

Alnylam Pharmaceuticals Inc. (Nasdaq: ALNY) 31% HIGHER; is seeing interest in after-hours action after Merck & Co., Inc. (NYSE: MRK) bought fellow RNAi comapny Sirna Therapeutics, Inc. (NASDAQ: RNAI) at a huge 100% premium.

Intevac Inc. (NASDAQ: IVAC) 25% HIGHER; reports Q3 EPS of $0.41, versus the consensus of $0.13. Revenues came in at $54.8 million versus the consensus of $45.2 million.

CytRx Corp. (NASDAQ: CYTR) 24% HIGHER; said its lead drug candidate arimoclomol has been granted orphan medicinal product status for the treatment of amyotrophic lateral sclerosis (ALS) by the European Commission.

Retalix Ltd. (Nasdaq: RTLX) 19% LOWER; sees 2006 revenues in the range of $201 million to $205 million, versus the consensus of $215 million. The company sees adjusted (non-GAAP) net income in the range of $7.0 million to $10.0 million. Retalix anticipates Q3 total revenues of about $50 million, versus the consensus of $54 million. The company adjusted (non-GAAP) net income of about $1.0 million

Wave Systems Corp. (NASDAQ: WAVX) 9% LOWER; announced that on Monday, October 30, 2006, it agreed to sell 3,517,230 shares of its Class A common stock at a price of $2.73 per share - the closing price on Friday, October 27th, - for gross proceeds of $9,602,038. The net proceeds of the financing, approximately $9.1 million, will be used to fund Wave's ongoing operations.

Rackable Systems Inc. (Nasdaq: RACK) 9% HIGHER; reports Q3 EPS of $0.19, 1 cent worse than estimates. Revenues came in at $80.5 million versus the consensus of $84.6 million. Sees Q4 EPS of $0.25-$0.27 versus the consensus of $0.23. Sees Q4 revenues of $100-$110 million versus the consensus of $94.3 million. Sees FY07 EPS of $1.28-$1.40 versus the consensus of $1.27. Sees FY07 revenues of $475-$525 million versus the consensus of $454.4 million.

Navarre Corp. (Nasdaq: NAVR) 7% HIGHER; reports Q2 EPS of $0.11, 5 cents better than estimates. Revenues came in at $173.1 million versus the consensus of $162.75 million.

American Medical Systems Holdings Inc. (Nasdaq: AMMD) 7% LOWER; Reports Q3 Results, Guides for Q4, FY06-07

DivX, Inc. (Nasdaq: DIVX) 7% LOWER; reported that Q3 consolidated revenue was $15.4 million, an increase of 83 percent from the third quarter of 2005. Net income in the third quarter of 2006 was $3.1 million, or $0.10 per diluted share, compared to net income of $763,000, or $0.02 per diluted share, in the third quarter of 2005.

Actions Semiconductor Co., Ltd. (Nasdaq: ACTS) 7% HIGHER; reports Q3 earnings of $0.24 per share, 1 cent better than estimates. Revenues came in at $45.7 million versus the consensus of $45.6 million. Sees Q4 EPS of $0.23-$0.26 versus the consensus of $0.25. Sees Q4 revenues of $48-$50 million versus the consensus of $49.4 million.

Neoware Systems (Nasdaq: NWRE) 5.4% LOWER; reports Q1 earnings of $0.03 per share, 5 cents worse than estimates. Revenues came in at $21.6 million versus the consensus of $23.5 million. Sees FY07 revenues of about $100 million versus the consensus of $122 million.

Blue Nile (Nasdaq: NILE) 5% LOWER; reports Q3 earnings of $0.11 per share, 1 cent better than estimates. Revenues came in at $53.2 million versus the consensus of $51.1 million. Sees FY06 EPS of $0.70-$0.75 versus $0.67-$0.74 prior guidance and the consensus of $0.72 consensus. Sees FY06 revenues of $249.0-$255.0 million versus the consensus of $247.9 million.

Celgene Corporation (Nasdaq: CELG) 4.5% HIGHER; will replace AmSouth Bancorp (NYSE: ASO) in the S&P 500, after the close of trading on Friday, November 3.

Alpharma Inc. (NYSE: ALO) 4% HIGHER; Tops Q3 EPS by 1c, Guides for FY; Receives FDA Approval for KADIAN 80mg Capsules

InterActive (Nasdaq: IACI) 4% HIGHER; reports Q3 earnings of $0.35 per share, 2 cents better than estimates. Revenues came in at $1.6 billion versus the consensus of $1.61 billion.

Biogen Idec (Nasdaq: BIIB) 4% HIGHER; reports Q3 earnings of $0.60 per share, 11 cents better than estimates. Revenues came in at $703 million versus the consensus of $681.59 million. Sees FY06 EPS over $2.20 versus the consensus of $2.09.

Regions Financial Corp. (NYSE: RF) 1% HIGHER; will replace RadioShack Corp. (NYSE: RSH) in the S&P 100

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