StreetInsider.com Pre-Open Movers 11/06

StreetInsider.com Pre-Open Movers:

Momenta Pharmaceuticals, Inc. (Nasdaq: MNTA) 46% LOWER; said collaboration partner, Sandoz Inc., a division of Novartis, had received a letter from the FDA, stating that Sandoz' abbreviated new drug application for Enoxaparin Sodium Injection is not approvable.

GTx, Inc. (NASDAQ: GTXI) 22.9% HIGHER; GTx and Merck & Co., Inc. (NYSE: MRK) entered into a research and development and global strategic collaboration for selective androgen receptor modulators, a new class of drugs with the potential to treat age-related muscle loss as well as other musculoskeletal conditions.

DivX Inc. (Nasdaq: DIVX) 18.5% HIGHER; reported Q3 EPS of $0.17, 5 cents better than the analysts estimates of $0.12. Revenues for the quarter were $21.9 million, versus the consensus of $20.69 million. DivX expects Q4 EPS $0.16-$0.18, versus the consensus of $0.14. Q4 revenues are expected to be $22-$23 million, versus $23.6 million.

China BAK (Nasdaq: CBAK) 15% LOWER; will sell to the Investors 3,500,000 shares of China BAK's common stock at a purchase price of $3.90 per share, for an aggregate purchase price of $13,650,000. Stock closed at $5.30 yesterday.

Xinhua Finance Media Limited (Nasdaq: XFML) 11% HIGHER; said due to stronger than expected growth in its business as well as contribution from acquisitions, the Company now raises its projected net revenues for third quarter 2007 to be in the range of US$38 million to US$40 million, compared to the previous guidance of US$35 million to US$37 million.

Cutera, Inc (Nasdaq: CUTR) 11% LOWER; reported Q3 EPS of $0.30, 1 cent better than the analysts estimates of $0.29. Revenues for the quarter were $28.1 million, versus the consensus of $27.71 million. The Company announced it will discontinue providing a financial outlook.

Valassis Communications (NYSE: VCI) 10% HIGHER; reported Q3 EPS of $0.34, 12 cents better than the analysts estimate of $0.22. Revenues for the quarter were $607.2 million, versus the consensus of $582 million.

Guess?, Inc. (NYSE: GES) 8.6% HIGHER; raises Fiscal Year EPS guidance to a range of $1.85 to $1.90 from a range of $1.79 to $1.84. The Wall Street consensus is $1.87.

Limelight Networks (Nasdaq: LLNW) 8% LOWER; reported Q3 EPS of $0.03, 4 cents better than the analysts estimates of ($0.01). Revenues for the quarter were $29.2 million, versus the consensus of $26.29 million. Limelight expects Q4 revenues to be $28 to $30 million, versus the consensus of $30.9 million.

Fuel Tech, (Nasdaq: FTEK) 6.7% LOWER; reported Q3 EPS of $0.04, 2 cents lower than the analysts estimates of $0.06. Revenues for the quarter were $15.2 million, versus the consensus of $19.06 million. Fuel Tech revised its FY07 revenue guidance to $76-$79 million, versus the consensus of $79.13 million.

Ambac Financial Group, Inc. (NYSE: ABK) 6.5% HIGHER; Responds to the Morgan Stanley analyst report. Ambac addresses why the loss estimates presented in the Morgan Stanley report do not accurately reflect the composition of the underlying mortgage portfolio and the structure of their deals.

American Science and Engineering (Nasdaq: ASEI) 6% LOWER; reported Q3 EPS of $0.48, cents better than the analysts estimates of $0.62. Revenues for the quarter were $37.6 million, versus the consensus of $42.87 million.

First Solar, Inc. (Nasdaq: FSLR) 6% HIGHER; entered into new long term module supply agreements with a subsidiary of international investment and funds and asset manager Babcock & Brown (ASX:BNB.AX - News), and Ecostream Switzerland GmbH, a subsidiary of Econcern BV, which focuses on developing solutions for sustainable energy supply. The new agreements expand contracted module volume by a total of 557MW, allowing for additional sales of approximately $1 billion at an assumed exchange rate of $1.30/E1.00 over the period of 2008 to 2012.

Lifetime Brands, Inc. (Nasdaq: LCUT) INDICTED LOWER; reports Q3 EPS of $0.47, well below the consensus of $0.66. Revenues came in at versus the consensus of $159.9 million. Lifetime Brands sees FY EPS of $1.10-$1.20, versus the consensus of $1.48. Sees revenues of $500-$515 million versus the consensus of $534 million.

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