Morning Movers 3/25: CBG, BIOD, ACAS, BBI, AMD Higher; DRYS, SOLF, STZ, CYPB, DSW Lower

March 25, 2009 9:58 AM EDT

CB Richard Ellis Group, Inc. (NYSE: CBG) 45% 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.

Biodel Inc. (Nasdaq: BIOD) 26.2% 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.

American Capital (Nasdaq: ACAS) 23.7% HIGHER; continuing higher today following news on Monday that the company reduced its quarterly dividend from $1.05 to $0.85. The stock rose 44.7% since the announcement. Since Thursday of last week, shares of ACAS are up 134%.

Blockbuster Inc. (NYSE: BBI) 17.8% HIGHER; and TiVo Inc. today announced they are joining forces to deliver Blockbuster's library of premium digital movie titles directly to the television set via TiVo® DVRs. Click here for the full report.

AMD (NYSE: AMD) 17.8% HIGHER; today announced the availability of GPU PerfStudio 2.0, a free, platform-agnostic, next-generation AMD graphics application development tool for game developers, obtainable through a closed beta program.

Jabil Circuit, Inc. (NYSE: JBL) 12.7% 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.

DryShips (Nasdaq: DRYS) 12% 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.

China Sunergy Co., Ltd. (Nasdaq: CSUN) 8.6% HIGHER; announced that it has entered into a 35MW solar photovoltaic products framework agreement, and a 5MW solar photovoltaic products sales contract under the 35MW solar photovoltaic products framework agreement, with Global Service LTM. L.L.C. ("GSL") in Taiwan.

Solarfun Power Holdings Co., Ltd. (Nasdaq: SOLF) 7.4% LOWER; reports Q4 loss of US$1.14, versus the analyst estimate of (US$0.59). Revenues for the quarter were RMB1.12 billion, versus the consensus of RMB1.10 billion. Click here for our full report, including comments on guidance.

Bank of America (NYSE: BAC) 7% HIGHER; traders are buying the embattled bank stock on the back of reports that BofA's CEO, Ken Lewis, expects to start paying back TARP money by next month. Also, the NYPost did an article earlier highlighting the banks recent initiative -- along with Citigroup (NYSE: C) -- of buying distressed mortgages.

Robbins & Myers (NYSE: RBN) 6.6% HIGHER; reports Q2 EPS of $0.46, 5 cents better than the analyst estimate of $0.41. Revenues for the quarter were $163.8 million, versus the consensus of $174.14 million. Q2 orders came in at down 41% from the same quarter last year. Sees Q3 EPS of $0.20-$0.30, versus the consensus of $0.40. Lowers its FY09 EPS guidance from $1.80-$2.00 to $1.35-$1.65. The Street is currently expecting FY09 EPS of $1.74.

TiVo Inc. (Nasdaq: TIVO) 6.5% HIGHER; see Blockbuster.

Las Vegas Sands (NYSE: LVS) 6.5% HIGHER; continuing higher today after the company confirmed rumors that it is in talks with lenders in regards to retiring term loans.

General Electric (NYSE: GE) 6.2% HIGHER; trading higher on general market optimism. Financials are leading stocks higher this morning, and we all know GE has been trading like a financial lately. Also, GE Oil & Gas was awarded a $300 million contract for China's West-to-East pipeline.

Constellation Brands, Inc. (NYSE: STZ) 5.9% LOWER; lowers its FY09 non-GAAP EPS guidance from $1.68-$1.72 to $1.60-$1.62, versus the consensus of $1. The revision is driven primarily by an increasingly challenging global economic environment, particularly the accelerated deterioration in the company's U.K. and Australian businesses during Q4. Click here for more color on the guidance.

Cypress Bioscience (Nasdaq: CYPB) 5.3% LOWER; Oppenheimer downgrades from Outperform to Perform.

DSW Inc. (NYSE: DSW) 5% LOWER; reports Q4 loss of $0.17, 5 cents worse than the analyst estimate of ($0.12). Revenues for the quarter were $348.2 million, versus the consensus of $349.28 million. Click here for the full report.

Salesforce.com (NYSE: CRM) 4.4% LOWER; downgraded at Morgan Stanley from Equalweight to Underweight.

Anglo American (Nasdaq: AAUK) 3.3% LOWER; RBS downgrades from Hold to Sell.

Symantec (Nasdaq: SYMC) 3% HIGHER; added to Goldman Sachs' Conviction Buy List.

Dean Foods (NYSE: DF) 3% LOWER; downgraded at Credit Suisse from Outperform to Neutral.

Hershey Foods (NYSE: HSY) 2.5% LOWER; downgraded at Credit Suisse from Neutral to Underperform, citing weak volume sales.

Automatic Data Processing, Inc. (Nasdaq: ADP) 2% LOWER; announced today that FY09 sales are anticipated to grow 1%-2%, a slight decrease from the previous forecast of 2%-3% growth.

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