Unusual 11 Mid-Day Movers 4/14: CC, AAI, CLAY, CSE Higher; SGN, CRS, AAP, BBI, WB Lower

April 14, 2008 12:57 PM EDT

Signalife (AMEX: SGN) 29.9% LOWER; actually started the day about 6% higher than the stock's closing price of $1.34 on Friday. Shares of Signalife began selling off just as the Company started its previously announced webcast at 10 AM ET.

Circuit City Stores, Inc. (NYSE: CC) 28.5% HIGHER; Blockbuster Inc. (NYSE: BBI) offered to acquire Circuit City for at least $6.00 per share in cash, subject to due diligence. Blockbuster said their offer may go as high as $8 per share.

AirTran Holdings Inc. (NYSE: AAI) 28.1% HIGHER; Calyon upgrades AirTran Holdings from Neutral to Add, saying the company isn't in immediate danger of defaulting. AirTran sank 34% on Friday following the bankruptcy filing of Frontier Airlines.

Clayton Holdings, Inc. (Nasdaq: CLAY) 19.7% HIGHER; agreed to be acquired by an affiliate of private equity firm Greenfield Partners, LLC for $6.00 per share, or approximately $134 million, plus the repayment of $23.8 million of debt.

Carpenter Technology Corporation (NYSE: CRS) 17.2% LOWER; sees third quarter EPS in the range of $1.00-$1.05 per diluted share, versus the consensus of $1.25.

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CapitalSource (NYSE: CSE) 14.5% HIGHER; entered into a definitive asset purchase agreement with Fremont Investment & Loan, a California industrial bank, to assume all of FIL's retail deposits (approximately $5.6 billion as of 3/31/08), and to operate its 22 retail banking branches.

American Apparel (NYSE: AAP) 13.3% LOWER; sinking on a negative WSJ article which was published over the weekend.

Blockbuster Inc. (NYSE: BBI) 12.5% LOWER; Blockbuster offered to acquire Circuit City for at least $6.00 per share in cash, subject to due diligence. Blockbuster said their offer may go as high as $8 per share.

Wachovia (NYSE: WB) 10.3% LOWER; reports Q1 loss of $0.14 per share, ex items, which may not compare to the consensus of a $0.40 profit. Revenues came in at $7.9 billion, versus the consensus of $7.98 billion. Wachovia cuts its quarterly dividend to $0.375. Wachovia announced provision for credit losses of $2.8 billion, which exceeded net charge-offs by $2.1 billion. Wachovia also plans to raise $7 billion.

Gasco Energy (AMEX: GSX) 9.9% HIGHER; is seeing unusually heavy volume on no company-specific press releases today. Since opening this week's trading season slightly lower, shares of Gasco have steadily risen throughout the day.

Repsol YPF S.A. (NYSE: REP) 8% HIGHER; in the last hour of trading has seen a substantial jump in volume. Repsol may be moving on reports from Brazil's Petroleum agency that a large field may have been discovered in Brazil today.

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• Wachovia
• Calyon Securities

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