Unusual 11 Mid-Day Movers 5/15: CNET, RCH, NCOC, AFN Higher; SLRY, YTEC, ASYS, SNS Lower

May 15, 2008 1:21 PM EDT

CNET Networks, Inc. (Nasdaq: CNET) 43.3% HIGHER; CBS Corporation (NYSE: CBS.A) (NYSE: CBS) has entered into an agreement to acquire CNET Networks. Under the terms of the agreement, CBS will make a cash tender offer for all issued and outstanding shares of CNET Networks for $11.50 per share, representing an equity value of approximately $1.8 billion. CNET closed at $7.95 yesterday.

Salary.com (Nasdaq: SLRY) 28.6% LOWER; reports a Q4 loss of $0.09, 1 cent lower than the analyst estimate of ($0.08). Revenues for the quarter were $9.3 million, versus the consensus of $9.91 million. Sees Q1 revs of $9.3-$9.7 million, versus the consensus of $10.23 million. Sees FY08 revs of $45-$49 million, versus $45.7 million. The stock was also downgraded at Wachovia, Needham and Pacific Crest to Market Perform, Hold and Sector Perform, respectively.

China Architectural Engineering, Inc. (AMEX: RCH) 26.5% HIGHER; continues to trend higher for the second day in a row after reporting Q1 EPS of $0.09 and revenues of $25.35 million yesterday before the market opened.

Yucheng Technologies Limited (Nasdaq: YTEC) 26% LOWER; reported Q1 EPS of $0.08, 4 cents lower than the analyst estimate of $0.12. Revenues for the quarter came in at $16 million, versus the consensus of $12.67 million.

National Coal (Nasdaq: NCOC) 21% HIGHER; is moving higher on heavy volume with the majority of the coal industry.

Amtech Systems (Nasdaq: ASYS) 18.7% LOWER; reports Q2 EPS of $0.02, 6 cents lower than the analyst estimate of $0.08. Revenues for the quarter were $17.6 million, versus the consensus of $16.80 million. Sees Q3 revs of $21-$23 million, versus the consensus of $20.5 million. Sees FY08 revs of $71-$75 million, versus $71 million.

Alesco Financial Inc. (NYSE: AFN) 16.7% HIGHER; in a press release, Alesco gave an update as to how the company will be impacted by IndyMac's (NYSE: IMB) deferral.

Enterra Energy Trust (NYSE: ENT) 14.9% HIGHER; after only moving 5.8% on a solid earnings report, investors are noticeably reacting to the earnings today.

Gasco Energy, Inc. (Amex: GSX) 14.6% HIGHER; issued its probable and possible reserves and unrisked resource potential estimates for its Uinta Basin Assets today. Check out the full run-down here.

Steak n' Shake (NYSE: SNS) 13.1% LOWER; reports a Q1 adjusted-loss of $0.08, 9 cents lower than the analyst estimate of $0.01. Revenues for the quarter were $190.5 million, versus the consensus of $188.63 million.

China Digital TV Holding Co. Ltd (NYSE: STV) 12.9% LOWER; reports Q1 EPS of $0.20, 4 cents better than the analyst estimate of $0.16. Revenues for the quarter were $17.4 million, versus the consensus of $15.91 million. China Digital sees Q2 revenues $17.5 to $19.5 million versus $18 million consensus. China Digital sees FY revenues of $79-$84 million versus the $81 million consensus.

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• Wachovia
• Needham & Co
• American Technology Research

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