Unusual 11 Mid-Day Movers 9/4: CAPA, TGIC, HAYZ, PSS Higher; CIEN, VOL, BTH, TEX Lower

September 4, 2008 12:11 PM EDT

Ciena (Nasdaq: CIEN) 25% LOWER; reports Q3 earnings of $0.37 per share, ex-items, in-line with estimates. Revenues came in at $253.2 million, versus the consensus of $253.7 million. Sees Q4 revenues $190-$210 million, versus the consensus of $263 million.

Captaris, Inc. (NASDAQ: CAPA) 24% HIGHER; Open Text Corporation (NASDAQ: OTEX) agreed to acquire Captaris, Inc. for $131 million in total, or $4.80 per share.

Volt Information Sciences, Inc. (NYSE: VOL) 23.2% LOWER; reports Q3 EPS of $0.18, versus the analyst estimate of $0.34. Revenues for the quarter were $590.6 million, versus the consensus of $645.24 million.

Triad Guaranty (Nasdaq: TGIC) 23.1% HIGHER; after climbing more than 46% intraday yesterday, the stock sold off just before the close and ended the trading session up just 26%. The stock has regained that lost ground today and is trading back over the $2.50 level.

Blyth, Inc. (NYSE: BTH) 22% LOWER; reports Q2 EPS of $0.09, ex-items, versus the analyst estimate of $0.15. Revenues for the quarter were $236.8 million, versus the consensus of $236.75 million. Cuts its FY09 EPS guidance from $1.26-$1.31 to $1.16-$1.21, versus the consensus of $1.28.

Terex Corporation (NYSE: TEX) 19.3% LOWER; lowered guidance, citing changing market conditions. Full year 2008 earnings per share are expected to be between $6.35 and $6.65, versus prior guidance of $6.85 to $7.15 and the consensus of $7.08. Net sales for 2008 are expected to be in the range of $10.2 to $10.6 billion, versus prior guidance of $10.5 to $10.9 billion and the consensus of $10.61 billion. Earnings per share are expected to be between $1.26 and $1.38 for the third quarter of 2008, versus the consensus of $1.57, and between $1.20 and $1.33 in the fourth quarter versus the consensus of $1.60.

Hayes Lemmerz International, Inc. (Nasdaq: HAYZ) 14.9% HIGHER; raises its adj-EBITDA guidance for FY08 from $205-$220 million to $225-$240 million. Capex for the year has been lowered from $95-$105 million to $90-$100 million. The company also reaffirmed its sales guidance of $2.1-$2.3 billion.

Collective Brands Inc. (NYSE: PSS) 12.5% HIGHER; reports Q2 EPS of $0.54, versus the analyst estimate of $0.31. Revenues for the quarter were $911.7 million, versus the consensus of $885.24 million.

Thermage, Inc. (Nasdaq: THRM) 12.2% LOWER; determined to reject the previously announced unsolicited, non-binding proposal to acquire Thermage for $5.50 per share and that Thermage will not enter into discussions with the third party regarding its alternative acquisition proposal to the pending merger with Reliant Technologies, Inc. The Thermage Board determined to pursue closing the Reliant transaction as soon as possible.

Navistar International (NYSE: NAV) 9.8% HIGHER; reports Q3 EPS of $3.68. Raises its FY08 EPS guidance to $6.35-$7.45.

Ultrashort FTSE/Xinhua China 25 ProShares (AMEX: FXP) 7.6% HIGHER; this ETF is seeing very interesting activity today on in-line to strong volume. An ultrashort is a bet to the downside, meaning the tradings buying this fund today are betting that the FTSE/Xinhua China 25 will move lower.

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