Unusual 11 Mid-Day Movers 3/25: CBG, MIC, JBL, HW Higher; DRYS, AIG, AMN, FTBK Lower

March 25, 2009 1:09 PM EDT

CB Richard Ellis Group, Inc. (NYSE: CBG) 54.3% HIGHER; announced last night that the lenders under its credit agreement have agreed to amend certain of its terms. The changes will give the Company considerably increased financial flexibility to navigate through a weaker market environment. Click for the full report. Also, analysts at both JPMorgan and JMP Securities upgraded the stock. Here is more color on those upgrades.

Macquarie Infrastructure Company LLC (NYSE: MIC) 36.6% HIGHER; spiked sharply higher about 30 minutes after the market opened, on extremely heavy volume. The stock has already traded hands 2 million times, which compares to its average daily volume of 881K. The company announced this morning that it 's CEO, Peter Stokes, will present at the Wall Street Analyst Forum on Thursday, March 26th in New York. Given the market reaction, investors are betting that the exec will make positive comments.

Jabil Circuit, Inc. (NYSE: JBL) 33.6% HIGHER; reports Q2 EPS of $0.13, 1 cent better than the analyst estimate of $0.12. Revenues for the quarter were $2.9 billion, versus the consensus of $2.81 billion.

Headwaters (NYSE: HW) 30.2% HIGHER; since announcing a $150 million strategic investment by Kinross Gold (NYSE: KGC) on Thursday of last week, shares of Headwaters have risen by more than 50%. Momentum is continuing today.

Biodel Inc. (Nasdaq: BIOD) 16.7% HIGHER; announced last night that it plans to submit a new drug application to the U.S. FDA in the second half of this year for approval to market VIAject(R) for the treatment of diabetes. VIAject(R) is Biodel's investigational ultra-rapid-acting injectable human insulin intended for meal-time use by people with Type 1 and Type 2 diabetes. The NDA will be based upon results from multiple pharmacokinetic and pharmacodynamic studies as well as two completed Phase 3 studies of VIAject(R) in patients with Type 1 and Type 2 diabetes.

DryShips (Nasdaq: DRYS) 11.1% LOWER; reports Q4 earnings of $0.43 per share, ex-items, below the consensus of $0.66. Revenues came in at $217.9 million, versus the consensus of $209.6 million. The loss before items for the quarter was $1.02 billion. Click here for the full report.

Fortress Investment Group (NYSE: FIG) 10% HIGHER; continuing higher for the third day in a row since Geithner's Public-Private Investment Program was released.

American International Group (NYSE: AIG) 10.7% LOWER; since March 12, shares of AIG have rose (prior to today) 240%. The downside action today, on extremely heavy volume, is likely traders just taking profits, etc. Continued controversy about the bonus situation could also be weighing on the stock.

Ameron International Corporation (NYSE: AMN) 10.2% LOWER; reports Q1 EPS of $0.42, 5 cents lower than the analyst estimate of $0.47. Revenues for the quarter were $146 million, versus the consensus of $136.77 million.

Frontier Financial Corporation (NASDAQ: FTBK) 9.6% LOWER; shares of Frontier fell more than 9% yesterday on news that it has signed an agreement with the FDIC and State of Washington Department of Financial Institutions to change certain lending policies. More from the release.

Dean Foods (NYSE: DF) 7% LOWER; downgraded at Credit Suisse from Outperform to Neutral.

To get this report daily visit http://www.streetinsider.com/entities/Unusual+11+Mid-Day+Movers.

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