Unusual 11 Mid-Day Movers 8/29: BIOF, JMBA, BPOP, BBX Higher; FRE, DELL, FNM, LAVA Lower

August 29, 2008 11:01 AM EDT

StreetInsider.com's Unusual 11 Mid-Day Movers:

BioFuel Energy Corp. (Nasdaq: BIOF) 24.4% HIGHER; announced today that its operating subsidiaries, which own and operate the Wood River and Fairmont ethanol plants, had amended their credit agreement. The amendment permits the subsidiaries' full access to their $20 million working capital facility and permits daily access to their revenue account, in each case solely for the purchase of corn, natural gas, chemicals, enzymes, denaturant and electricity. Previously, the subsidiaries had access to only $5 million of their working capital line and the ability to disburse their revenues only at the end of each month.

Jamba Juice (Nasdaq: JMBA) 23.4% HIGHER; reports a Q2 loss of $1.69, versus the analyst estimate of ($0.02). Revenues for the quarter were $98.6 million, versus the consensus of $98.59 million. Same store sales for the quarter fell 7.3%, compared to a 3.5% decline in Q207.

Popular, Inc. (Nasdaq: BPOP) 19% HIGHER; announced today an agreement to sell loan and servicing assets of its U.S. mortgage subsidiary Popular Financial Holdings to various Goldman Sachs (NYSE: GS) affiliates. The sale includes approximately $1,170 million in loans and mortgage servicing assets. The transaction, expected to close in the fourth quarter of 2008, will provide more than $700 million in additional liquidity and significantly reduce Popular's U.S. subprime assets. Popular expects to report a loss of approximately $450 million in connection with the transaction.

Freddie Mac (NYSE: FRE) 13.3% LOWER; after 6 straight days of upside, the stock is seeing some downside today. We are hearing reports that Bank of China Ltd cut its holding of Fannie and Freddie debt by 29% in the past two months could be contributing to today's weakness.

Dell, Inc. (Nasdaq: DELL) 12% LOWER; reports Q2 EPS of $0.31, which may not compare to the analyst estimate of $0.36. Revenues for the quarter were $16.4 billion, versus the consensus of $15.95 billion. The company sees continued conservatism in IT spending in the U.S., which has extended into Western Europe and several countries in Asia.

Fannie Mae (NYSE: FNM) 11.6% LOWER; see Freddie.

Magma Design Automation, Inc. (Nasdaq: LAVA) 9.7% LOWER; reports Q1 EPS of $0.02, 3 cents better than the analyst estimate of ($0.01). Revenues for the quarter were $45.7 million, versus the consensus of $44.93 million. Sees FY revs of $158-$160M, versus the consensus of $210M.

Wind River Systems (Nasdaq: WIND) 9.5% LOWER; reports Q2 EPS of $0.17, versus the analyst estimate of $0.08. Revenues for the quarter were $91.9 million, versus the consensus of $87.79 million. Sees Q3 EPS of $0.08-$0.09, versus the consensus of $0.15 and revs of $88-$90 million, versus the consensus of $94.18 million. FY09 EPS of $0.50-$0.52, versus $0.49 and revs of $365-$375 million, versus $372.34 million.

BankAtlantic Bancorp's (NYSE: BBX) 9.3% HIGHER; BFC Financial Corporation (NYSE: BFF) today announced that within the last ten days it has purchased 2 million shares of BankAtlantic Bancorp's Class A common stock in open market purchases.

PetSmart (Nasdaq: PETM) 9.3% HIGHER; reports Q2 EPS of $0.30, 2 cents better than the analyst estimate of $0.28. Revenues for the quarter were $1.2 billion, versus the consensus of $1.22 billion. PetSmart sees q3 eps 25c-29c versus 27 cents consensus. Sees FY08 eps $1.51 to $1.59 versus $1.49 consensus.

Omnivision Technologies (Nasdaq: OVTI) 8.2% HIGHER; reports Q1 EPS of $0.25, ex-items, 3 cents lower than the analyst estimate of $0.28. Revenues for the quarter were $174.3 million, versus the consensus of $171.41 million. Sees Q2 sales in the range of $160-$180 million and non-GAAP EPS of $0.13-$0.25. The Street estimates are currently $190.86 for sales and $0.35 for EPS. Omnivision's CFO, Peter Leigh, today announced that he will retire, effective September 30, 2008.

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