Movers: Deutsche Bank, Micron, Intel, ImClone

Deutsche Bank (DB) says it will take a 700 million charge on leveraged loans and loan commitments in the third quarter, and a 1.5 billion charge on structured credit products, residential mortgage-backed securities and relative value trading in both credit and equities. Despite the 2.2 billion [$3.09 billion] in charges, the German bank says its third-quarter net profit will still exceed the year-earlier figure because of tax credits and capital gains.

Micron Technology (MU) posts $0.21 fourth quarter loss per share, vs. $0.08 EPS a year ago, as lower gross margin offset 4.7% sales rise. The memory chip maker says fourth quarter and fiscal year 2007 results were heavily influenced by industry supply/demand dynamics that depressed average sellling prices [ASPs] for memory products.

Morgan Stanley initiates coverage of Intel (INTC) with underweight opinion.

Wynn Resorts (WYNN) falls after Jim Cramer said on his Oct. 2 evening program Mad Money that Wynn is a Chinese speculative name right now. It’s so hot he recommends that investors be careful, and don’t buy the stock.

Southwest Airlines (LUV) reports an 8.6% increase in September revenue passenger miles and 11% increase in the third quarter.

ImClone Systems (IMCL) and Bristol-Myers Squibb (BMY) announce that the U.S. Food and Drug Administration [FDA] has approved an update to the Erbitux product labeling to include overall survival data as a single agent in epidermal growth factor inhibitor [EGFR]-expressing metastatic colorectal cancer [mCRC] patients after failure of both irinotecan- and oxaliplatin-based regimens.

Nu Horizons Electronics (NUHC) plans to restate financial statements for fiscal years 2002 [February] through 2007, as well as the first quarter of fiscal year 2008 due to a material understatement of its provision for income taxes for prior periods and the related U.S. income tax obligations.

Panera Bread (PNRA) narrows third quarter EPS guidance to $0.35-$0.37 from $0.32-$0.38 on a reported 35% rise in revenue. The restaurant chain says system-wide sales rose 0.8% in September at its bakery-cafes open at least 18 months.

P.F. Chang’s China Bistro (PFCB) posts 1.6% Q3 same-store sales decline at Bistro, 1.0% decline at Pei Wei, 17% total sales rise. It sees $0.05-$0.07 third quarter EPS, below its previously released forecast of $0.25.

Midway Games (MWY) widens $0.23 third quarter loss [GAAP] estimate to $0.33 on lower-than-expected revenue of $39 million. For 2007, it now sees $0.85 loss on revenue of about $170 million. It cites the delayed release of Stranglehold and Unreal Tournament 3, and lower expected sales of BlackSite: Area 51.

Wolverine World Wide (WWW) posts $0.54, vs. $0.46 a year ago, third quarter EPS on 3.8% higher revenue. It raises 2007 EPS guidance to $1.63-$1.65 from $1.60-$1.64 based on strong third quarter performance and current backlog, although still sees revenue at low end of previously announced range of $1.20-$1.23 billion. It forecasts $1.78-$1.84 2008 EPS on revenue of $1.245-$1.275 billion.

American Superconductor (AMSC) says it has signed two licensing contracts with AAER Inc., a Canadian wind turbine manufacturer. Under the terms of the contracts, AMSC’s wholly owned Windtec subsidiary will license to AAER the design for its WT-2000sg, a proprietary 2 megawatt [MW] wind turbine. In addition to multi-million dollar upfront license fees, AMSC will receive royalties for every WT-2000sg wind turbine commissioned by AAER.