Movers: Monsanto, SiRF Technology, Thornburg, Freddie Mac, Yahoo

Tuesday's stocks in the news

Monsanto (MON) raises fiscal year 2008 ongoing EPS guidance to $3.15-$3.25, vs. previous ongoing guidance of $2.70-$2.80. For the second quarter, it expects ongoing EPS in range of $1.75. Says leading corn market share positions, accelerated biotechnology trait penetration and new value generated by Roundup and other glyphosate-based herbicides have led the company to well exceed its expectations for both the second quarter and full-year. Notes both periods will benefit from $0.23 gain from settlement of company's claims in conjunction with Solutia's emergence from bankruptcy.

SiRF Technology Holdings (SIRF) cuts $71-$77 million first quarter revenue forecast to $60-$62 million due to greater-than-expected softness in product demand from its customers, especially in the Personal Navigation Devices market. It plans to cut workforce by 7%. Goldman cuts estimates, target.

Accentia Biopharmaceuticals (ABPI) says Phase 3 clinical trial evaluating the company's exclusively-licensed technology from the Mayo Clinic consisting of an intranasal antifungal lavage, SinuNase did not meet primary endpoint. Jefferies downgrades to underperfrom from buy.

PNC Financial Services (PNC), SunTrust Banks (STI) and Bank of America (BAC) were reportedly downgraded by analysts at Merrill Lynch.

Freddie Mac (FRE) reports its total mortgage portfolio increased at an annualized rate of 8.4% year-to-date, 12% in February, amount of retained portfolio mortgage purchase and sales agreements entered into during the month of February totaled $14.8 billion, up from the $0.6 billion entered during the month of January. Says the single-family delinquency rate for all loans was 61 basis points in Jan., up from 65 basis points in December.

Thornburg Mortgage (TMA) announces it commenced a private placement of up to $1.35 billion in senior subordinated secured notes due in 2015, with an interest rate of 18%, which shall be adjusted to 12% upon the satisfaction by the company of certain conditions.

Yahoo (YHOO) was reportedly upgraded by a Citigroup analyst from hold to buy.

Valero Energy (VLO) says it expects first quarter earnings of between 10 and 35 cents per share, compared to current analysts expectations of 91 cents per share. Valero says it's seeing lower profit margins on gasoline and other products, and the firm says it is battling operating and equipment problems at refineries.

Ford Motor (F) may be set to announce the sale of its Jaguar and Land Rover units to Tata Motors. India TV reports Tata has agreed to pay $2.65 billion, and Dow Jones says Ford plans to make an announcement on Wednesday.

3Com (COMS) posts $0.08, vs. $0.03 a year ago, third quarter non-GAAP EPS on 4% revenue rise. Posts $0.02 third quarter GAAP loss per share, vs. $0.01 loss, on $6.1 million non-cash deferred tax liability provision. In the third quarter, COMS generated $44.1 million in cash from operations.

MGIC Investment (MTG) agrees to sell 37.3 million shares of stock in a public offering at a price per share of $11.25 each, for gross proceeds of about $420 million.

Celgene (CELG) says Amrubicin has been granted orphan drug designation by FDA for treatment of small cell lung cancer.

Regeneron Pharmaceuticals (REGN) announces ARCALYST (rilonacept) Injection for subcutaneous use is now available for prescription in U.S. for treatment of Cryopyrin-Associated Periodic Syndromes (CAPS), incl. Familial Cold Auto-inflammatory Syndrome, Muckle-Wells Syndrome in adults, children 12 and older. Says the company was granted marketing approval for ARCALYST by the FDA in February 2008, making it the only therapy approved for patients with CAPS.

Casual Male Retail Group (CMRG) posts $0.03, vs. $0.19 a year ago, fourth quarter non-GAAP EPS from continuing operations on 0.3% same-store sales decline, 7.5% total sales decline. Cites a sales loss from expected levels of $10 million due to a drop in customer traffic of 7.5%. Sees $0.25-$0.30 fiscal year 2009 EPS on sales of $470-$480 million.

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