Unusual 11 Mid-Day Movers 10/07: GGC, AMD, SWY, GG Higher; GGP, RBS, ARTW, ASCA Lower

October 7, 2008 1:01 PM EDT

General Growth Properties (NYSE: GGP) 47.6% LOWER; yesterday the company cut its dividend and late last night S&P downgraded the company's credit ratings. Here is StreetInsider.com's coverage on the embattled stock.

Royal Bank of Scotland (NYSE: RBS) 37.3% LOWER; speculation the company will need government assistance. The company denied this.

Art's Way Manufacturing Co., Inc., (Nasdaq: ARTW) 35% LOWER; reports Q3 EPS of $0.13, versus $0.23 in the same quarter last year. Revenues for the quarter were $9.4 million, compared to $8.2 million in Q307.

Georgia Gulf (NYSE: GGC) 30.7% HIGHER; shares are spiking higher today on heavy volume despite no news. With about 24% of its float shorted at the beginning of September, today's move may be the result of short-covering.

Ameristar Casinos (Nasdaq: ASCA) 24.2% LOWER; casino and gaming stocks continue to get clobbered today. Elsewhere in the sector: Las Vegas Sands (NYSE: LVS) down 11.6%, MGM MIRAGE (NYSE: MGM) down 7.4%, Wynn Resorts (Nasdaq: WYNN) down 8.7%.

Barclay's plc (NYSE: BCS) 20.5% LOWER; foreign banks are getting knocked down today amid rumors that the Bank of Scotland will need help from the government.

AMD (NYSE: AMD) 18.7% HIGHER; The company and Advanced Technology Investment Company of Abu Dhabi announced the creation of a U.S.-headquartered, leading-edge semiconductor manufacturing company.

Safeway (NYSE: SWY) 6.1% HIGHER; reports Q3 EPS of $0.46, 1 cent lower than the analyst estimate of $0.47. Revenues for the quarter were $10.2 billion, versus the consensus of $10.08 billion. Reaffirms its FY08 EPS guidance of $2.25-$2.35, versus the consensus of $2.25.

Goldcorp (NYSE: GG) 6% HIGHER; the flight to quality continues today. Gold for October delivery is up about $13 today.

Calgon Carbon Corp. (NYSE: CCC) 5.5% HIGHER; will replace Allscripts Healthcare Solutions Inc. (NASDAQ: MDRX) in the S&P SmallCap 600 after the close of trading on Friday, October 10. Allscripts is undergoing a corporate restructuring that will leave it majority-controlled by S&P Global 1200 constituent Misys Plc in a deal expected to close on or about that date, pending final approvals.

Monsanto (NYSE: MON) 4.7% HIGHER; ag names are bouncing today after the sector took a nose-dive yesterday. Shares of Monsanto were down more than 9% at yesterday's close.

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