Unusual 11 Mid-Day Movers 9/17: SNDK, GSS, FSP, SKF Higher; VSE, NT, AIG, BTN Lower

September 17, 2008 12:54 PM EDT

VeraSun Energy (NYSE: VSE) 67.4% LOWER; lowers guidance after some of its hedging moves hurt VSE. Vera Sun expects a Q3 loss in the range of $0.40 to $0.65 per share compared to ($0.02) consensus. VeraSun also announced a 20M share offering.

Nortel (NYSE: NT) 43.8% LOWER; expects revenues in the third quarter of 2008 of about $2.3 billion, below the consensus of $2.66 billion. Gross margin is currently expected to be approximately 39 percent of revenue primarily as a result of a product delivery delay into the fourth quarter and customer mix within the Carrier business.

American International Group, Inc. (NYSE: AIG) 41.5% LOWER; The U.S. govenment provides the company with a $85 billion loan. The U.S. government will receive a 79.9 percent equity interest in AIG and has the right to veto the payment of dividends to common and preferred shareholders.

Ballantyne of Omaha, Inc. (Amex: BTN) 39.9% LOWER; announced yesterday that it expects its market share for digital cinema equipment sales to Digital Cinema Implementation Partners members will be below the company's original guidance.

SanDisk (NASDAQ: SNDK) 39.6% HIGHER; Samsung Electronics sent a letter to the Board of Directors of SanDisk reiterating its proposal to acquire SanDisk for $26 per share in cash.

Conseco, Inc. (NYSE: CNO) 28.8% LOWER; yesterday announced that it held securities of Lehman Brothers (NYSE: LEH), American International Group (NYSE: AIG) and Washington Mutual (NYSE: WM) totaling approximately $103 million as of September 16, 2008. During Q3, Conseco has recognized losses of approximately $40 million on sales of securities of these issuers.

Golden Star Resources (AMEX: GSS) 24.6% HIGHER; gold for October delivery is up more than $60 today. the majority of companies in the gold sector are moving substantially higher on the spike.

UltraShort FTSE/Xinhua China 25 ProShares (AMEX: FSP) 20.5% HIGHER; with this ETF up so much, investors are betting against the European and Asian markets amid very concerning credit conditions in the U.S. markets.

UltraShort Financials ProShares (AMEX: SKF) 19.4% HIGHER; financials are leading the broader markets lower today. The financial sector, as a whole, is down nearly 6%, according to Google data.

Great Basin Gold (AMEX: GBN) 17.6% HIGHER; gold is up more than $60 today.

Silver Wheaton (NYSE: SLW) 11.7% HIGHER; gold is up more than $60 today.

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