2:30PM NY, U.S. Market Movers

Advanced Micro Devices (AMD: chart) said it expects its first-quarter revenue to miss Wall Street expectations, weighed by lower prices and slumping sales, and announced plans to restructure its business model. The company pegged its quarterly revenue at about $1.23 billion, below analysts’ consensus view of $1.55 billion and shy of its prior outlook for $1.6 billion to $1.7 billion in sales which it warned in March it would likely not meet. Advanced Micro Devices also said it plans to restructure its business model to increase efficiencies and lower costs. Despite the sales projection, shares of Advanced Micro Devices climbed 5.1%.

Burlington Northern Santa Fe Corp. (BNI: chart) shares jumped 7.3% despite warning of a hefty first-quarter charge, due to positive analyst notes on the railroad operator''s continuing operations and news of a Berkshire Hathaway Inc. investment. The company said it expects to record a charge of $80 million, or 14 cents per share, against first-quarter earnings because of environmental cleanup and technology costs.

Calamos Asset Management (CLMS: chart) was upgraded to buy from neutral at Merrill Lynch, citing valuation. Shares of the company climbed 5.6%.

H&E Equipment Services (HEES: chart), which rents and sells industrial machinery, shares surged 7.1% on expectations that its results will be boosted by a strong demand for its cranes and its presence in the Gulf Coast region. Bank of America''s Seth R. Weber boosted his rating for H&E to ""Buy"" from ""Neutral,"" noting the stock''s 15% decline since the start of the year. Weber said H&E''s crane segment accounts for an estimated 30 percent of its revenue.

Memory Pharmaceuticals Corp. (MEMY: chart), drug developer, said it completed enrollment in its midstage study on MEM 1003, aimed at treating Alzheimer''s disease. The Phase IIa clinical trial involves 180 people. Results from the study are expected in the fourth quarter. Shares of the company jumped 41.7%.

Mirant Corp. (MIR: chart) said it was considering a possible sale and other moves to boost the power provider''s value for shareholders. Its shares rose 6.9%. The energy company is currently selling its business in the Philippines, six U.S. natural gas-fired plants and its Caribbean operations. The transactions are expected to close by the year''s end.

NetLogic Microsystems Inc. (NETL: chart), chip maker, raised its first-quarter revenue outlook slightly ahead of Wall Street''s view. The company sees quarterly sales climbing 11% to 11.5% from the $21 million in sales booked in the fourth quarter. That implies first-quarter sales of $23.3 million to $23.4 million. It originally anticipated revenue rising 8% to 10%. Shares climbed 8.8%.

Schnitzer Steel Industries Inc. (SCHN: chart), steel recycler, posted a 35% increase in second-quarter profit as sales jumped by half on stronger volumes in its metals recycling segment. For the quarter net income rose to $28.4 million, or 93 cents per share, compared with $21.1 million, or 68 cents per share. Revenue grew 50% to $604.4 million, versus $403.3 million in the same period a year earlier.

SteelCloud Inc. (SCLD: chart) shares surged 16.5%, after the network appliance and server marker said it won a disputed $8 million contract from the U.S. Postal Service. The U.S. Postal Service Engineering department initially selected SteelCloud in December 2006 for the multimillion dollar-contract to provide specialized servers. The contract could be worth more than $10 million, if the U.S. Postal Service exercises an option to buy more servers.

Stratagene Corp. (STGN: chart) announced that it agreed to be acquired by Agilent Technologies for $10.94 per share, or roughly $245 million. Stratagene, which has 400 employees, will operate as a division within Santa Clara, Calif.-based Agilent''s life sciences solutions unit. Shares jumped 25.7%.

USA Technologies (USAT: chart) said that Coke bottler Coca-Cola Bottling Co. United Inc. is installing cashless payment technology in its vending machines and credit card network MasterCard Inc. USA Technologies develops cashless payment systems. The company''s shares jumped 18.8% in wake of the announcement.

WD-40 (WDFC: chart) said that its second-quarter earnings climbed 24% to $8.94 million, or 52 cents per share, compared with $7.23 million, or 43 cents per share, during the year-ago period. The company posted revenue of $79.3 million against $71.5 million a year ago. WD-40 said it has authorized a $35 million share buyback that expires in March 2008 and still expects fiscal 2007 per-share earnings of $1.70 to $1.85 on revenue of $307 million to $324 million. The outlook reflects the impact of the company''s move to open a direct operation in China. The results from the first year of direct operations in China are expected to reduce 2007 net income by about $1 million, or 6 cents per share. Shares jumped 17.7%.

World Airways ((WLDA.PK)) has agreed to be acquired by Global Aero Logistics, the parent company of ATA Airlines, for $315 million, or $12.50 per share. Shares of the company climbed 5.7%.

American Home Mortgage Investment Corp. (AHM: chart) shares fell 15.9% after the company cut its first-quarter and full-year profit forecast by more than 25% after it was being hit by problems in the secondary market for home loans and mortgage-backed securities.

Ariad Pharmaceuticals Inc. (ARIA: chart) said that enrollment of patients into the pivotal late-stage trial for its experimental cancer drug may be delayed until the third quarter. Ariad shares slipped 12.6%. Patient enrollment for the study of the drug, AP23573, for metastatic sarcoma, which will provide the data that Ariad expects to use to seek U.S. approval of the medicine, had been expected to begin in the current quarter, the company said.

Avocent Corp. (AVCT: chart), which makes switching systems for network servers, shares dropped 8.1% after the company released first-quarter sales guidance below Wall Street''s expectations. Avocent said it expected first-quarter revenue to be between $132 million and $135 million.

Conexant Systems (CNXT: chart), which makes chips used in communications devices, said second-quarter revenue fell 18% in the fiscal second quarter, due to lower-than-expected sales from several products. Second-quarter revenue totaled $200 million, down from $242.6 million the year prior. Shares of the company fell 7.3%.

Daktronics Inc. (DAKT: chart) lowered its fourth-quarter outlook and the company now expects earnings of 6 cents to 10 cents per share on revenue of $101 million to $105 million. The supplier of large screen video displays had previously forecast per-share earnings of 12 cents to 19 cents on revenue of $106 million to $118 million. Daktronics said it made the revision after it was unable to book enough orders early in the quarter to generate sales. Shares fell 21%.

Sourcefire (FIRE: chart), network security and information management system developer, said it expects to post a first-quarter 2007 loss. The company is projecting a loss of $2.2 million to $2.6 million. Excluding certain expenses, the company expects gross profit of $7.8 million to $8.2 million, up from $6.5 million for the first quarter 2006. Revenue for the quarter is expected to range from $10.1 million to $10.5 million, up from $8.5 million in the year ago period. Shares fell 28.5%.