Morning Movers 7/1: OSK, BORL, CBL, LNN Higher; BEAT, FRPT, GSIG, MYGN, IMMR Lower

July 1, 2009 9:24 AM EDT

CardioNet (Nasdaq: BEAT) 39.7% LOWER; sees FY09 sales of $156 million to $160 million, versus the consensus of $171.9 million. The revenue guidance is based on lower than anticipated commercial reimbursement rates. Volume growth continues to be significant, but is expected to be somewhat lower than the Company had anticipated. Sees FY09 non-GAAP EPS of $0.30-$0.35, versus the consensus of $0.66. Also downgraded to Hold at both Citi and Roth Capital.

Force Protection Inc. (Nasdaq: FRPT) 31% LOWER; sinking on news Oshkosh has won a contract for blast-proof trucks.

Oshkosh Corporation (NYSE: OSK) 29.3% HIGHER; wins $1.06 billion contract for blast-proof truck, according to a source from the Pentagon. Click here for the full report.

GSI Group Inc. (Nasdaq: GSIG) 28.6% LOWER; today announced that the Company's evaluation of sales transactions of its Semiconductor Systems Segment during fiscal years 2004 through 2008 is nearing completion, and reported approximate ranges of restated revenues for that segment during each of those five fiscal years. Click for the release.

Myriad Genetics, Inc. (NASDAQ: MYGN) 22.9% LOWER; announced that, based on preliminary estimates, it anticipates reporting total molecular diagnostic revenue, which represents the bulk of the Company's revenue, of approximately $86 million for the fiscal 2009 fourth quarter ending June 30, 2009. (Consensus is $91.63M) Also downgraded at Oppenheimer.

Immersion Corporation (NASDAQ: IMMR) 19% LOWER; announced that the Audit Committee of the Board of Directors of Immersion Corporation is conducting an internal investigation into certain previous revenue transactions in its Medical line of business.

Borland Software Corporation (Nasdaq: BORL) 17.8% HIGHER; entered into a Second Amendment to Agreement and Plan of Merger by and among Bentley Merger Sub, Inc., Micro Focus International plc, Micro Focus, Inc. and the Company. The Second Amendment provides that (i) the merger consideration under the merger agreement increased from $1.15 to $1.50 per share in cash and (ii) the termination fee payable in certain circumstances increased from $4 million to $5.2 million. The Merger Agreement otherwise remains in full force and effect. The Board of Directors of Borland Software approved the Second Amendment on June 30, 2009.

Dynamic Materials Corporation (NASDAQ: BOOM) 13.4% LOWER; sees Q2 sales about 25% below Q109 sales of $49.8 million. The Company previously forecast a sequential revenue decline of between 10% and 14%. The Street is currently looking for Q2 sales of $43.4 million.

Sealy Corp. (NYSE: ZZ) 11.2% LOWER; reports Q2 EPS of $0.07, ex-items, versus the analyst estimate of $0.05. Revenue for the quarter was $298.5 million, versus the consensus of $298.14 million.

The9 Limited (Nasdaq: NCTY) 11% LOWER; filed a Form 12b-25, Notification of Late Filing, with the U.S. SEC today regarding the late filing of its annual report on Form 20-F for the year ended December 31, 2008.

CBL & Associates (NYSE: CBL) 8.9% HIGHER; Barclays upgrades the stock from Underweight to Equalweight. Price target $8.

Lindsay Corporation (NYSE: LNN) 8.3% HIGHER; reports Q3 EPS of $0.42, versus the analyst estimate of $0.25. Revenue for the quarter was $84.6 million, versus the consensus of $84.09 million.

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