Unusual 11 Mid-Day Movers: LM Ericsson (ERIC) and Xerox (XRX) Lower On Weak Outlooks
StreetInsider.com Unusual 11 Mid-Day Movers:
Select Comfort (Nasdaq: SCSS) 37% HIGHER; reports Q4 LOSS of $0.26, better than the analyst estimate of ($0.03). Revenues for the quarter were $131.1 million, versus the consensus of $139.2 million.
Harry Winston Diamond Corp (NYSE: HWD) 38% HIGHER; Kinross Gold (NYSE: KGC) signed an agreement with Harry Winston Diamond Corporation (NYSE: HWD) further to which Kinross will make a net investment of $150 million in exchange for an indirect interest in the Diavik Diamond Mine in Canada's Northwest Territories and a 19.9% shareholding in Harry Winston.
Xerox Corporation (NYSE: XRX) 17% LOWER; lowered its first-quarter earnings expectations to a range of $0.03-$0.05 per share from a range of $0.16-$0.20 per share (cons is $0.18), citing the increasingly more challenging global economic environment.
DryShips (Nasdaq: DRYS) 16% LOWER; Wachovia downgrade in the industry, citing day rates. MORE
Euroseas, Ltd. (Nasdaq: ESEA) 14% LOWER; Wachovia downgrades, citing day rates. MORE
AutoNation Inc. (NYSE: AN) 13% LOWER; UBS downgrades to Sell
Textron (NYSE: TXT) 12% LOWER; Continued concerns about credit.
Cabot Corp. (NYSE: CBT) 12% LOWER; JP Morgan downgrades
Eagle Bulk Shipping, Inc. (Nasdaq: EGLE) 11% LOWER; Wachovia downgrades, citing day rates. MORE
Starwood Hotels (NYSE: HOT) 10% LOWER; Friedman Billings downgrades to Underperform
LM Ericsson Telephone Co. (Nasdaq: ERIC) 10% LOWER; said its net sales and net income before taxes in the first quarter of 2009 continue to be negatively affected by weak consumer demand as well as de-stocking in the retail and distribution channels. MORE
Phazer (Nasdaq: ANTP) 8% HIGHER; reports a Q3 loss of $0.10 compared to $0.14 profit for the same period last year. Revenues of $1.5 million for the third quarter decreased 53% compared to $3.2 million for the same period last year.
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