Morning Movers 12/24: ProLogis (PLD) Higher On Upgrades, PLX Technology (PLXT) Down On Guidance

December 24, 2008 9:29 AM EST

StreetInsider.com Morning Movers:

PLX Technology, Inc. (NASDAQ: PLXT) 15.3% LOWER; lowers its Q4 sales guidance from $15-$18 million to $14-$14.2 million, versus the consensus of $16.27 million.

ProLogis (NYSE: PLD) 8% HIGHER; Announces $1.26B In Contributions of Properties, Upgraded at Wachovia and Deutsche Bank

Exar Corporation (Nasdaq: EXAR) 5.5% LOWER; revised its revenue estimate for its 2009 third fiscal quarter ending December 28, 2008. The Company now projects that the December 2008 quarter revenue is expected to be between $25.5 million and $27.0 million, down approximately 7% to 12% below guidance issued on October 30, 2008. (Consensus is $32.25 million)

Quaker Chemical Corporation (NYSE: KWR) 4.5% LOWER; today announced that as part of its cost reduction efforts, the Company has eliminated over 80 positions, primarily in North America and Europe, representing approximately 10% of the workforce in those regions. The Company expects to take a restructuring charge of approximately $3 million in Q4.

Supertex (Nasdaq: SUPX) 4% HIGHER; Microship (Nasdaq: MCHP) discloses a 5.4% stake in the company.

SCANA Corp. (NYSE: SCG) 3% HIGHER; will replace Merrill Lynch in the S&P 500

Owens-Illinois Inc. (NYSE: OI) 3% HIGHER; will replace Wachovia in the S&P 500, after the close of trading on Wednesday, December 31.

Micron (NYSE: MU) 2.5% LOWER; reports Q1 loss of $0.72, ex-items, versus the analyst estimate of ($0.45). Revenue for the quarter was $1.4 billion, versus the consensus of $1.32 billion.

FLIR Systems Inc. (NASDAQ: FLIR) 2% HIGHER; will replace National City Corp. (NYSE: NCC) in the S&P 500.

CME Group (NYSE: CME) 1.5% HIGHER; Passed two key regulatory hurdles to commence clearing over-the-counter credit default swaps (CDS) through CMDX, a joint venture company with Citadel Investment Group. Regulatory reviews with the Federal Reserve Bank of New York and the Commodity Futures Trading Commission (CFTC) are complete.

Baidu.com (Nasdaq: BIDU) 1% LOWER; Cramer makes negative comments

AMERISAFE Inc. (NASDAQ: AMSF) 1% HIGHER; will replace FirstFed Financial Corp. (NYSE: FED) in the S&P SmallCap 600

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