Morning Movers 3/27: SMOD, GM, FREE, SNX, FINL Higher; OSIR, MGM, DYAX, YGE, KHD Lower

March 27, 2009 9:43 AM EDT

Osiris Therapeutics, Inc. (NASDAQ: OSIR) 25.5% LOWER; announced today that it has elected to end enrollment at 210 patients in its Phase III trial evaluating Prochymal for Crohn's disease. Click here for the full report.

Smart Modular Technologies (Nasdaq: SMOD) 19.9% HIGHER; reports Q2 EPS of $0.06, versus the analyst estimate of ($0.01). Revenue for the quarter was $109.1 million, versus the consensus of $124.16 million. Sees Q3 revs of $95-$105 million, versus the consensus of $126 million, with EPS of $0.00-$0.01, versus the Street estimate of a loss of $0.01. Announces $10 million buyback program.

General Motors (NYSE: GM) 19% HIGHER; the Financial Times is reporting that GM will not need to return to Washington for more funding.

MGM Mirage (NYSE: MGM) 14% LOWER; MGM and investment partner Dubai World are unlikely to make a $220 million payment due Friday on City Center, according to the Wall Street Journal. City Center is a massive resort and casino project under construction on 67 acres in Las Vegas. City Center has hired Dewey & LeBoeuf to prepare itself for a possible bankruptcy filing and the law firm of Weil, Gotshal & Manges LLP is working for MGM Mirage on a range of legal issues. Click here for the full report.

Dyax Corp. (NASDAQ: DYAX) 12.7% LOWER; announced today that it has received a complete response letter from the U.S. FDA pertaining to the Company’s Biologic License Application for DX-88 (ecallantide) for the treatment of acute attacks of hereditary angioedema. The letter outlines requirements for approval of DX-88 in this indication. Specifically, the FDA has requested submission of a Risk Evaluation and Mitigation Strategy and additional information with respect to the chemistry, manufacturing and controls section of the BLA. The letter does not include requirements for any additional clinical trials for approval of DX-88. Click here for the full report.

Yingli Green Energy (NYSE: YGE) 12.4% LOWER; correcting today after yesterday's massive sector-wide solar rally. The Claymore/MAC Global Solar Index (NYSE: TAN), or TAN for short, surged nearly 20% yesterday. The TAN is currently down 3% this morning. Numerous analysts are out with research notes on stocks in the sector. FBR was out with a bearish sector-wide note.

FreeSeas Inc. (Nasdaq: FREE) 11.5% HIGHER; reports Q4 EPS of $0.30, ex-items, 6 cents lower than the analyst estimate of $0.36. Revenue for the quarter was $20.8 million, versus the consensus of $21.55 million. Charter agreements in place for 53% of available days in 2009, which represents approximately $45 million in revenue. Company to discontinue dividend payments as it focuses on debt reduction.

SYNNEX Corporation (NYSE: SNX) 11.3% HIGHER; reports Q1 EPS of $0.59, 7 cents better than the analyst estimate of $0.52. Revenue for the quarter was $1.73 billion, versus the consensus of $1.74 billion. Sees Q2 EPS $0.47 to $0.50 versus 47 cents. Sees Q2 revs $1.63B to $1.73B versus $1.72 billion.

KHD Humboldt Wedag International Ltd. (NYSE: KHD) 9.9% LOWER; reports FY08 loss of $0.23, versus the analyst estimate of $2.12 and compared to $1.39. Revenue for the quarter was $638.35 million, versus the consensus of $596.51 million.

Accenture Ltd. (NYSE: ACN) 9.7% LOWER; reports Q2 EPS of $0.63, 1 cent better than the analyst estimate of $0.62. Revenue for the quarter was $5.27 billion, versus the consensus of $5.53 billion. Sees Q3 revs of $5.1-$5.3 billion, versus the consensus of $5.8 billion. Sees FY09 bookings of $23-$25 billion versus prior range of $24-$27 billion. Sees forex impact of a negative 9%, versus prior view of 8-10%. Sees FY09 sales growth of 0-4%, versus prior guidance of 6-10%, and EPS of $2.60-$2.67, versus prior guidance of $2.78-$2.85, versus the consensus of $2.79.

Macerich (NYSE: MAC) 7.2% LOWER; Goldman Sachs downgrades the stock from Neutral to Sell.

Finish Line (Nasdaq: FINL) 6.9% HIGHER; reports Q4 earnings of $0.36 per share, ex-items, above the consensus of $0.32. Revenues came in at $364.1 million, ersus the consensus of $369.5 million. Finish Line Q4 comps fell 3.9%.

DHT Maritime, Inc. (NYSE: DHT) 6.9% LOWER; plans to offer approximately 6,500,000 common shares in an underwritten public offering, subject to market conditions. In connection with the offering, the company expects to grant the underwriters an option to purchase up to 975,000 additional common shares to cover overallotments, if any.

The Wet Seal, Inc. (Nasdaq: WTSLA) 6.8% HIGHER; reports Q4 EPS of $0.09, 2 cents better than the analyst estimate of $0.07. Revenue for the quarter was $154.9 million, versus the consensus of $155.24 million. Sees Q1 EPS of $0.02-$0.06, versus the consensus of $0.05 and revs of $131.2-$137.5 million, versus the consensus of $135 million. Sees Q1 comps down 3-8%.

Suntech Power (NYSE: STP) 6.6% LOWER; Oppenheimer downgraded Suntech to Underperform. See Yingli.

BJ Services (NYSE: BJS) 6.6% LOWER; Goldman Sachs added the stock to its Conviction Sell List.

Compuware (Nasdaq: CPWR) 6.3% HIGHER; Cowen upgrades from Neutral to Outperfrom.

Deckers Outdoor (Nasdaq: DECK) 5.4% LOWER; Credit Suisse initiates coverage on the stock with an Underperform rating.

Talisman Energy (NYSE: TLM) 5.3% LOWER; Goldman Sachs downgrades the stock from Neutral to Sell.

First Solar (Nasdaq: FSLR) 3.9% LOWER; Collins Stewart downgraded First Solar to Hold. Also see Yingli.

GenCorp Inc. (NYSE: GY) 3.9% LOWER; reports Q1 EPS of $0.34, compared to $0.05 per share for the first quarter of 2008. Q1 revenues totaled $170.9 million compared to $176.6 million for the first quarter of 2008.

Embraer (NYSE: ERJ) 3.6% LOWER; reports Q4 EPS of $0.72, versus the analyst estimate of $1.09. Revenue for the quarter was $1.818 billion, versus the consensus of $1.92 billion.

Masco Corporation (NYSE: MAS) 3.4% LOWER; today announced that its Board of Directors has approved a 68% reduction in its quarterly dividend from $0.235 to $0.075 per common share payable on May 11, 2009, to shareholders of record on April 9, 2009.

Amazon.com (Nasdaq: AMZN) 2.8% LOWER; Goldman Sachs removed the stock from its Conviction Buy List. The firm is maintaining its Buy rating on the stock.

Choice Hotels (NYSE: CHH) 2.8% LOWER; JP Morgan downgrades the stock from Neutral to Underweight.

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