Unusual 11 Mid-Day Movers 3/26: CRNT, ASTI, RMBS, ANR Higher; AMN, JBL, XJT, CCU Lower

March 26, 2008 1:08 PM EDT

Ameron International Corporation (NYSE: AMN) 23% LOWER; reports Q1 EPS of $1.07, 23 cents lower than the analyst estimate of $1.30. Revenues for the quarter were $149.8 million, versus the consensus of $138.71 million.

Jabil Circuit, Inc. (NYSE: JBL) 15.6% LOWER; reports Q2 EPS of $0.20, 2 cents better than the analyst estimate of $0.18. Revenues for the quarter were $3.1 billion, versus the consensus of $3.04 billion. Sees Q3 EPS of $0.18-$0.22, versus the consensus of $0.34. Sees Q3 revs of $3.05-$3.15 billion, versus $3.25 billion. FY08 EPS are expected to be $1.00-$1.16, versus $1.29 and revs of $12.6-$12.8 billion, versus $13.1 billion.

ExpressJet Holdings (NYSE: XJT) 15.5% LOWER; is sinking with the entire airline sector, which is fallen due to rising crude oil today. Oil has jumped about $4 on lower than expected inventories. Notably, even an upgrade by Avondale Market Underperform to Market Perform cannot boost shares of ExpressJet today amid the spiking price of oil.

Clear Channel Communications (NYSE: CCU) 14.3% LOWER; According to reports from the Wall Street Journal, the $19 billion buyout of Clear Channel is near collapse as the private equity firms behind the deal, Thomas H. Lee and Bain Capital Partners, and the banks failed to resolve differences over the terms of the financing.

Charlotte Russe Holding, Inc. (Nasdaq: CHIC) 13% LOWER; re-affirms its previous sales and earnings guidance range of $0.12 to $0.15 diluted earnings per share for the second quarter. The consensus is $0.15. Charlotte Russe is guiding to a flat to low single digit negative comparable store sales decline and diluted earnings per share in the range of $0.27 to $0.30 for the third quarter. The consensus is $0.41.

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Ceragon Networks (Nasdaq: CRNT) 12.6% HIGHER; today unveiled a new family of carrier-grade wireless Ethernet platforms that combine advanced IP and TDM networking to enable risk-free migration with the highest possible capacities at the lowest overall cost. The new, versatile FibeAir IP-10 family offers a wide capacity range of 10Mbps to 500Mbps over one radio carrier, using a single RF unit, across the entire licensed frequency spectrum - from 6GHz to 38GHz.

Ascent Solar Technologies (Nasdaq: ASTI) 9.6% HIGHER; with shares of Ascent down more than 60% year to date, today's move could be the result of short sellers locking in profits. At the beginning of March, Ascent had more than half of its float shorted. Notably, shares of Ascent rose more than 20% yesterday.

Rambus (Nasdaq: RMBS) 9.2% HIGHER; BWS Financial commented on Rambus this morning, ahead of jury announcement, sees volatility and rumors. The firm has a Buy rating on the stock. Analyst Hamed Khorsand said, "The volatility in Rambus is likely to go into high gear in the near-term. We are anticipating rumors running in the market between now and until the jury’s findings are announced. The closing arguments in the Hynix Semiconductor patent infringement case were heard yesterday. We stated earlier in the week that the downside to RMBS shares would be 30 percent to 40 percent while the upside potential would be the stock near $30 and an increase in momentum. While we believe RMBS is now in a position where the patent litigation is a bonus to the Company and shareholders; the Street is unlikely to look upon the situation in the same manner.

Alpha Natural Resources (NYSE: ANR) 9.2% HIGHER; Goldman Sachs upgraded shares of Alpha Natural from Sell to Buy and added the stock to its Conviction Buy List. The firm raised its investment rating on the Coal sectro from Cautious to Neutral.

Massey Energy (NYSE: MEE) 8% HIGHER; Goldman Sachs upgraded the stock from Sell to Neutral.

Converted Organics Inc. (NASDAQ: COIN) 8% HIGHER; this morning announced that Matosantos Commercial Corporation of San Juan, Puerto Rico has agreed to act as exclusive distributor of Converted Organics Inc.'s all-natural fertilizer products in Puerto Rico.

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• Goldman Sachs Conviction Buy List
• Goldman Sachs
• Bain Capital
• BWS Financial

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