Unusual 11 Mid-Day Movers 7/30: BBSI, ACLI, TWP, SVVS Higher; ELN, SIMO, LFG, XPRT Lower

July 30, 2008 12:10 PM EDT

StreetInsider.com Unusual 11 Mid-Day Movers:

Elan Corp (NYSE: ELN) 36.6% LOWER; reports trial data on Bapineuzumab for Alzheimer's.

Silicon Motion Technology Corporation (Nasdaq: SIMO) 36.3% LOWER; reports Q2 EPS of $0.26, 18 cents below the analyst estimate of $0.44. Revenues for the quarter were $48.6 million, versus the consensus of $53.30 million. Sees FY08 revenue $200 to $205 million, down from prior guidance $225-$235 million, consensus is $233 million. Sees FY08 EPS $1.30 to $1.40, versus prior guidance $1.95 to $2.05, consensus is $2.00.

LandAmerica Financial Group, Inc. (NYSE: LFG) 33.7% LOWER; reports a Q2 loss of $3.29, versus the analyst estimate of ($0.71). Revenues for the quarter were $712.4 million, versus the consensus of $770.89 million. The company also cut its quarterly dividend from $0.30 to $0.05 per common share.

Barrett Business Services (Nasdaq: BBSI) 32.8% HIGHER; reports Q2 EPS of $0.29, 7 cents better than the analyst estimate of $0.22. Revenues for the quarter were $269 million, versus the consensus of $264.21 million. The Company expects gross revenues for the third quarter of 2008 to range from $277 million to $282 million vs. $269.32 million consensus. Sees Q3 EPS between $.34-$.36 vs. $0.28 consensus. Also, Roth Capital upgraded the stock to Buy this morning.

LECG Corp (Nasdaq: XPRT) 22.2% LOWER; reports Q2 EPS of $0.10, 11 cents below the analyst estimate of $0.21. Revenues for the quarter were $89.1 million, versus the consensus of $98.09 million.

American Commercial Lines Inc (Nasdaq: ACLI) 20.2% HIGHER; reports Q2 EPS of $0.06, 9 cents better then the analyst estimate of ($0.03). Revenues for the quarter were $322.7 million, versus the consensus of $288.02 million. Merrill Lynch also upgraded American Commercial Lines today.

Trex Company, Inc. (NYSE: TWP) 19.7% HIGHER; reports Q2 EPS of $0.52, which may not compare to the analyst estimate of $0.18. Revenues for the quarter were $95 million, versus the consensus of $87.64 million.

SAVVIS, Inc. (Nasdaq: SVVS) 19.7% HIGHER; reports a Q2 loss of $0.14, 3 cents lower than the analyst estimate of ($0.11). Revenues for the quarter were $212.9 million, versus the consensus of $208.39 million. Reaffirms forecast. Also, Jefferies & Co. upgraded the stock from Hold to Buy and set a $20 price target this morning.

Ultimate Software (Nasdaq: ULTI) 18.5% LOWER; reports Q2 EPS of $0.05, which may not compare to the analyst estimate of $0.13. Revenues for the quarter were $41.5 million, which may not compare to the consensus of $44.12 million. Sees FY08 adj-EPS of $0.41-$0.42, versus the consensus of $0.65. Numerous firms are out with downgrades on Ultimate Software this morning: JMP Securities to Market Underperform, Broadpoint Capital to Neutral, Maxim Group to Hold and Soleil Securities to Sell.

National Instruments (Nasdaq: NATI) 17.4% HIGHER; reports Q2 EPS of $0.31, 1 cent better than the analyst estimate of $0.30. Revenues for the quarter were $210.5 million, versus the consensus of $204.05 million. Sees Q3 EPS of $0.31-$0.39, versus the consensus of $0.31 and revs of $208-$218 million, versus $207 million. Citi upgraded shares of National Instruments from Sell to Hold. The firm also raised its price target from $24 to $32.

Starent Networks Corporation (Nasdaq: STAR) 17% HIGHER; reports Q2 EPS of $0.14, 3 cents lower than the analyst estimate of $0.17. Revenues for the quarter were $61.2 million, versus the consensus of $57.85 million. Says court granted motion to dismiss 10 claims in UTStarcom suit.

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Related Entities

• Citi
• Jefferies & Co
• Merrill Lynch
• Soleil Securities
• Roth Capital
• Broadpoint Capital
• JMP Securities
• Maxim Group

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