Morning Movers 11/11: Focus Media (FMCN) Sinks On Warning, Optimer (OPTR) Up on Positive Drug Results

November 11, 2008 9:45 AM EST

StreetInsider.com Morning Movers

Optimer Pharmaceuticals, Inc. (Nasdaq: OPTR) 70% HIGHER; released positive top-line results from a pivotal Phase 3 clinical study of the Company's lead anti-infective drug candidate, OPT-80, in patients with Clostridium difficile Infection.

Sangamo Biosciences Inc. (Nasdaq: SGMO) 60% LOWER; Sangamo top-line data from one of three Phase 2 clinical studies of its from its ZFP Therapeutic program to develop SB-509 for diabetic neuropathy showed no significant differences versus placebo. The company said the data did demonstrate that repeat administration of the drug is well tolerated.

Focus Media Holding Limited (Nasdaq: FMCN) 45% LOWER; reports Q3 results, guides lower

Thornburg Mortgage Inc. (NYSE: TMA) 40% HIGHER; posts a profit in Q3. TMA had a $594.6 million fair value gain related to the Senior Subordinated Secured Notes due 2015 and $160.2 million fair value gain related to the Principal Participation Agreement and Additional Warrant Liability.

KKR Financial Holdings LLC (NYSE: KFN) 36% LOWER; reports Q3 EPS of $0.33, compared to $0.44 in the same quarter last year. The Company has elected to retain capital and not pay a dividend for the third quarter of 2008.

LodgeNet (Nasdaq: LNET) 24% HIGHER; Billionaire Mark Cuban Discloses 9.9% stake.

Las Vegas Sands Corp. (NYSE: LVS) 17% LOWER; Reports Q3 results. Prices offering at $5.50/Sh
Genworth Financial (NYSE: GNW) 14% LOWER; said it can no longer sell commercial paper under the Federal Reserve's Commercial Paper Funding Facility after a downgrade of the holding company.
EnerNOC (Nasdaq: ENOC) 11% HIGHER; reports Q3 loss of $0.16, 9 cents better than the analyst estimate of ($0.25). Revenue for the quarter was $44.2 million, versus the consensus of $38.25 million. The Company reiterates its full year 2008 revenue guidance of between $101 million and $107 million. (Consensus is $105.37M).

Tyson Foods Inc. (Nasdaq: TSN) 11% LOWER; JPMorgan downgrades to Underweight

Prudential Financial Inc. (NYSE: PRU) 10% HIGHER; Goldman Starts at Sell

Hartford Financial Services Group Inc. (NYSE: HIG) 9% HIGHER; Goldman Starts at Sell

Fundtech Ltd. (Nasdaq: FNDT) 9% LOWER; reports Q3 EPS of $0.20, versus the consensus of $0.21. Revenues came in at $31.5 million, versus the consensus of $31.75 million. Sees Q4 EPS $29.5-$30.5 million, versus the consensus of $33.7 million. Sees Q4 adj-EPS of breakeven to $0.06, versus the consensus of $0.27. Fundtech to buyback up to $10 million shares.

Principal Financial Group Inc. (NYSE: PFG) 8% LOWER; Goldman Starts at Sell

General Motors (NYSE: GM) 8% LOWER; continues yesterday's 23% slide on cash crunch worries

Herman Miller, Inc. (Nasdaq: MLHR) 8% LOWER; announced a series of actions intended to reduce the company's annual fixed overhead and operating expenses by approximately $60 million. Herman Miller also annunced that due to the slower order pacing in recent weeks the are lowering this quarters revenues estiamtes to a range of $475 million to $495 million, with earnings per share estimated to be $0.57 - $0.62. The consensus is $501.2 million and $0.63.

DENTSPLY International Inc. (NASDAQ: XRAY) 5.4% HIGHER; will replace Hercules Inc. (NYSE: HPC) in the S&P 500

Google Inc. (NASDAQ: GOOG) 5% LOWER; Goldman cuts estimates

Wynn Resorts Ltd. (NASDAQ: WYNN) 4% HIGHER; will replace Ashland Inc. (NYSE: ASH) in the S&P 500

Starbucks (Nasdaq: SBUX) 4% LOWER; reports Q3 EPS of $0.10, 3 cents lower than the analyst estimate of $0.13. Revenue for the quarter was $2.5 billion, versus the consensus of $2.58 billion.

Eagle Materials Inc. (NYSE: EXP) 3.5% HIGHER; will replace Secure Computing Corp. (NASDAQ: SCUR) in the S&P SmallCap 600 

Chesapeake Energy Corporation (NYSE: CHK) 1% HIGHER; today announced the execution of an agreement for a joint venture with StatoilHydro (NYSE: STO) whereby StatoilHydro will acquire a 32.5% interest in Chesapeake's Marcellus Shale assets in Appalachia for $3.375 billion, leaving Chesapeake with a 67.5% working interest.

Mentor Graphics (Nasdaq: MENT) INDICATED LOWER; lowers FY09 EPS guidance to around $0.40 versus consensus of $0.97. Mentor Graphics sees FY09 revenue of approximately $815 million versus consensus $897.12 million. Mentor Graphics sees Q3 revenue to be about $185 million versus consensus of $215.14 million. Sees a Q3 loss of $0.05 versus consensus of $0.15.

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