Unusual 11 Mid-Day Movers 2/29: MNTA, JRJC, SAPE, COMS Higher; FMT, CDL, RHD, ABH Lower

February 29, 2008 1:17 PM EST

Fremont General Corporation (NYSE: FMT) 62% LOWER; in connection with ongoing reviews and the Company's preparation of its 2007 consolidated financial statements, which have not yet been completed, the Bank may need to record additional asset write-downs and reserves, which could result in further losses or, alternatively, will require the Bank to adjust downward its regulatory capital. In either case, such potential adjustments will further erode the Bank's total equity capital of $448.6 million that was reported in the Bank's Call Report publicly filed with the FDIC on January 30, 2008 for the year ended December 31, 2007. In addition, if the possible adjustments are ultimately recorded by the Bank, such adjustments could have an adverse effect on the Company's financial condition, results of operations and business.

Momenta Pharmaceuticals (Nasdaq: MNTA) 28% HIGHER; hearing that at a corporate meeting last night Novartis (NYSE: NVS) management indicated that it and Momenta may soon receive U.S. regulator approval for the partnerships version of Sanofi's Lovenox anti-clot medicine, Mirabaud. Momenta was also upgraded to Outperform from Underperform at Bear Stearns on the news.

China Finance Online (Nasdaq: JRJC) 27.6% HIGHER; reports Q4 adj-EPS of $0.03, 6 cents lower than the analyst estimate of $0.09. Revenues for the quarter were $8.88 million, versus the consensus of $8.70 million. Boosts Q1 revs to $10-$10.5 million, versus the consensus of $10.33 million.

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Citadel Broadcasting Corp. (NYSE: CDL) 23.5% LOWER; reports Q4 EPS of $0.05, 2 cents lower than the analyst estimate of $0.07. Revenues for the quarter were $245.47 million, versus the consensus of $246.51 million.

R.H. Donnelley Corp. (NYSE: RHD) 23% LOWER; Bear Stearns and Deutsche Bank downgrade.

AbitibiBowater (NYSE: ABH) 21.3% LOWER; continues to slide today after a weak earnings report on yesterday morning. Shares of Abitibi were above $16 at Wednesday's close.

Sapient (Nasdaq: SAPE) 20% HIGHER; reports Q4 EPS of $0.07 (non-GAAP EPS from continuing operations was $0.12) vs. the analyst estimate of $0.05. Revenues for the quarter were $160.7 million, versus the consensus of $146.74 million.

MF Global Ltd (NYSE: MF) 19.9% LOWER; Lehman and UBS downgrade related to unauthorized trading.

3Com Corporation (NASDAQ: COMS) 17.5% HIGHER; reports from the Wall Street Journal, Bain Capital and China's Huawei plan to resubmit its application for US approval for the acquisition 3Com Corporation (NASDAQ: COMS). Last week the application was pulled after on concerns CFIUS would reject it. The new plan deal would be structured to limit Huawei's acces to some core US-related network products.

Omnivision Technologies (Nasdaq: OVTI) 15.5% HIGHER; reports Q3 non-GAAP EPS of $0.55, 9 cents better than the analyst estimate of $0.46. Revenues for the quarter were $224.9 million, versus the consensus of $225.10 million.

Novell (Nasdaq: NOVL) 14.5% HIGHER; reports Q1 non-GAAP EPS of $0.08, 4 cents better than the analyst estimate of $0.04. Revenues for the quarter came in at $231 million, versus the consensus of $230.23 million.

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• Deutsche Bank
• UBS
• Bear Stearns
• Bain Capital

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