Morning Movers 10/07: AMD (AMD) Up on New Manufacturing Venture; First Solar (FSLR) Slammed On Downgrade Oct 7, 2008 09:34AM

StreetInsider.com Morning Movers:

AMD (NYSE: AMD) 30% HIGHER; The company and Advanced Technology Investment Company of Abu Dhabi announced the creation of a U.S.-headquartered, leading-edge semiconductor manufacturing company.

Royal Bank of Scotland (NYSE: RBS) 25% LOWER; speculation the company will need government assistance. The company denied this.

First Solar, Inc. (Nasdaq: FSLR) 15% LOWER Goldman downgraes to Sell

Sonus Networks (Nasdaq: SONS) 15% LOWER; expects to report a significant decrease in year-over-year revenue for the third quarter ended September 30, 2008. The Company further expects that its year-over-year revenue for the full year 2008 will decrease from the full year 2007.

Fred's Inc. (NASDAQ: FRED) 13% LOWER; said September comparable store sales for the month increased 1.1%. Fred's total sales for the month were $161.3 million ...