Morning Movers: Xerox (XRX) Lower On Profit Warning, Dry Bulk Shippers Lower On Downgrade (ESEA, EGLE, DSX)

March 20, 2009 10:23 AM EDT

StreetInsider.com Morning Movers:

Select Comfort (Nasdaq: SCSS) 56% HIGHER; reports Q4 LOSS of $0.26, better than the analyst estimate of ($0.03). Revenues for the quarter were $131.1 million, versus the consensus of $139.2 million.

Harry Winston Diamond Corp (NYSE: HWD) 38% HIGHER; Kinross Gold (NYSE: KGC) signed an agreement with Harry Winston Diamond Corporation (NYSE: HWD) further to which Kinross will make a net investment of $150 million in exchange for an indirect interest in the Diavik Diamond Mine in Canada's Northwest Territories and a 19.9% shareholding in Harry Winston.

Euroseas, Ltd. (Nasdaq: ESEA) 13% LOWER; Wachovia downgrades, citing day rates. MORE

Eagle Bulk Shipping, Inc. (Nasdaq: EGLE) 12% LOWER; Wachovia downgrades, citing day rates. MORE

LM Ericsson Telephone Co. (Nasdaq: ERIC) 10% LOWER; said its net sales and net income before taxes in the first quarter of 2009 continue to be negatively affected by weak consumer demand as well as de-stocking in the retail and distribution channels. MORE

AutoNation Inc. (NYSE: AN) 10% LOWER; UBS downgrades to Sell

Xerox Corporation (NYSE: XRX) 9% LOWER; lowered its first-quarter earnings expectations to a range of $0.03-$0.05 per share from a range of $0.16-$0.20 per share (cons is $0.18), citing the increasingly more challenging global economic environment. MORE

Phazer (Nasdaq: ANTP) 8.5% HIGHER; reports a Q3 loss of $0.10 compared to $0.14 profit for the same period last year. Revenues of $1.5 million for the third quarter decreased 53% compared to $3.2 million for the same period last year.

Diana Shipping Inc. (NYSE: DSX) 7% LOWER; Wachovia downgrades, citing day rates. MORE

Ford Motor Co. (NYSE: F) 7% HIGHER; UBS starts at Buy

Starwood Hotels (NYSE: HOT) 6% LOWER; Friedman Billings downgrades to Underperform

Citigroup, Inc. (NYSE: C) 6% HIGHER; Announces Two Management Changes; Kelly To CFO, Crittenden To Chairman of Citi Holdings. MORE

Lincoln National (NYSE: LNC) 6% LOWER; Moody's downgrade. MORE

Expedia Inc. (Nasdaq: EXPE) 6% HIGHER; Citi upgrades to Buy. MORE

Cabot Corp. (NYSE: CBT) 6% LOWER; JP Morgan downgrades

Simon Property Group Inc. (NYSE: SPG) 4% LOWER; prices its public offering of 15,000,000 shares of common stock at a price of $31.50 per share. 

Alloy (Nasdaq: ALOY) 4% LOWER; reports Q4 EPS of $0.34, may not be comparable to the analyst estimate of $0.03. Revenues for the quarter were $43.8 million, versus the consensus of $44.5 million. Alloy Online sees Q1 sales $42M to $45M versus consensus of $50.1 million.

Johnson & Johnson (NYSE: JNJ) 3% HIGHER; UBS upgrades to Buy 

Merck & Co. Inc. (NYSE: MRK) 2% HIGHER; Cowen upgrades to Outperform

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