[R]2:30PM NY, U.S. Market Movers[/R]

Benihana Inc. (BNHN: chart), which operates a chain of Japanese and sushi restaurants, said its same-store sales climbed 5.8% in its fiscal 2007 fourth quarter ended April 1. The chain said total restaurant sales rose 17.2% to $71.3 million from $60.8 million in the fourth quarter of fiscal 2006. Benihana said $5.5 million of its sales came from an additional week in the quarter. Temporary closures related to renovations hurt sales by $3.2 million in the quarter, according to the company. Shares climbed 5.9%.

Cell Therapeutics Inc. (CTIC: chart) shares jumped 14.7% after the company received ""fast track"" designation from the Food and Drug Administration for the company''s Xyotax drug, a treatment of certain types of non-small cell lung cancer in certain women.

Chico''s FAS Inc. (CHS: chart) shares climbed 7% after the clothing retailer posted solid March same-store sales. For the five weeks ended April 7, the Chico''s posted an increase of 5.2% in same-store sales and a 22% jump in total sales. Total sales rose to $191.2 million from $156.8 million a year ago.

Manor Care (HCR: chart) Shares hit 8.9% after the operator of nursing homes and rehabilitation centers announced it hired JPMorgan as its exclusive financial adviser to explore strategic alternatives. Manor Care booked 2006 revenue of $3.61 billion and net income of $167.1 million.

Tractor Supply Co. (TSCO: chart) shares climbed 10.5% after the retail farm and ranch store chain put first-quarter results above expectations and boosted its full-year guidance. The company sees first-quarter earnings of $4 million to $5.1 million, or 10 cents to 12 cents a share. The company said that revenue came in at $559.8 million. Looking ahead, Tractor Supply now sees full-year earnings of $2.49 to $2.56 a share, up from an earlier view of $2.45 to $2.52 a share. It now projects revenue of $2.7 billion to $2.75 billion, up slightly from an earlier forecast of $2.7 billion to $2.74 billion.

Tvia Inc. (TVIA: chart) shares fell 5% after the chipmaker said that its audit committee had undertaken a review of stock option grant practices and related matters since the company''s initial public offering in 2000. Tvia said its review of the 2006 and 2007 fiscal years ended March 31 preliminarily determined that affected periods may extend beyond those originally indicated.

American Medical Systems (AMMD: chart), medical device maker, shares fell 14.7% after the company said it will miss its first-quarter revenue forecast due to supply chain problems. The company said it would not meet its forecast of $113 million to $118 million in sales due to ""vendor quality issues"" and inventory shortages for several key products, including items related to female incontinence. American Medical Systems now expects $108.4 million in revenue and earnings of 5 cents to 7 cents per share for the quarter ended March 31.

Biolase Technology Inc. (BLTI: chart), dental and cosmetic laser maker, warned it will post a first-quarter loss and lower-than-expected revenue. The company sees sales for the period ended March 31 coming in between $14.5 million and $15 million. In the fourth quarter, Biolase posted a $1 million profit and revenue of $19.8 million. Shares fell 16.7%.

Cell Genesys (CEGE: chart), biotechnology company, said that it is selling 10.8 million shares of its common stock and warrants to buy 2.2 million shares through a registered direct offering. Proceeds are seen at $60 million, prior to deducting offering fees and expenses. Shares fell 12%.

Checkfree (CKFR: chart) shares sank 6.3% after an analyst downgraded the electronic payments processor, saying it may lose part of a major contract from its largest client, Bank of America Corp. JMP Securities analyst David Scharf downgraded CheckFree to ""market outperform"" from ""strong buy"" and cut his price target to $42 from $48. Profit for CheckFree totaled $127 million, or $1.36 per share, for the year ended June 30. Profit from continuing operations totaled $1.29 per share.

E-Z-Em Inc. (EZEM: chart), which makes gastrointestinal radiology products, said that its fiscal third-quarter profit fell 45% on tough comparisons to a prior-year quarter boosted by one-time gains and discontinued operations. For the quarter the company posted a profit of $2.4 million, or 22 cents per share, compared with a profit of $4.3 million, or 39 cents per share, for the same quarter in fiscal 2006. Earnings from continuing operations fell to $2.2 million, or 20 cents per share, compared with $2.4 million, or 21 cents per share, for the prior-year period. Revenue rose 4.6% to $33.6 million from $32.1 million in the year-ago quarter. Shares fell 9.5%.

Genaera Corp. (GENR: chart) said its board of directors approved a plan to lay off roughly 30% of its work force over the next three months and refocus the company''s drug research activities. Shares fell 9.3%.

Mitcham Industries Inc. (MIND: chart), which supplies seismic equipment to the oil industry, said that its fourth-quarter net earnings declined to $730,000, or 7 cents per share, compared with $4.62 million, or 45 cents per share, in the year-ago period. Revenues climbed to $11.1 million against $10.1 million in the same period last year. The company expects revenue for its fiscal year ending Jan. 31, 2008, to range between $55 million and $60 million. Shares tumbled 10.9%.

SoftBrands Inc. (SBN: chart) tumbled 16.4% after the software maker warned that second-quarter results would be lower than expected. The company now sees revenue of $20.5 million to $21 million, below its earlier view of $24 million. SoftBrands said that it expects to post a larger operating loss. Previously, the company had said that it would lose about $1 million. SoftBrands plans to report second-quarter results on May 15.


[R]1:00AM NY, 5:00PM Frankfurt - European stocks turned down ahead of Fed Reserve meeting.[/R]
European stock markets finished in the red on Thursday, pressured by cautiousness on Wall Street ahead of a speech by Fed Reserve Chairman Bernanke. The downward trend was also contributed by IMF after it lowered its global growth forecasts. European metals stocks traded mixed, with mining giants Rio Tinto and BHP Billiton losing ground but Xstrata rising 0.8%. Xstrata said it agreed to sell aluminum assets to private-equity firm Apollo Management for $1.15 billion in cash. Oil companies helped to limit losses, as crude-oil prices kept above $61 a barrel. Shares of BP added 0.9%, Total gained 0.7%, Repsol shares rose 1.1% in Spain and OMV climbed 1.4% in Austria. U.K. property companies were also under pressure after Lehman Brothers downgraded British Land, Land Securities, Hammerson , Slough Estates and Brixton. In other broker news, shares of France''s PPR fell 2.1% as J.P. Morgan downgraded the luxury-goods retailer, saying the company''s bid for German sportswear maker Pumaleaves valuations and debt stretched. Puma''s shares rose 1.8%. The U.K.''s FTSE 100 closed down 0.1% at 6,413.30, the German DAX Xetra 30 lost 0.2% at 7,152.83 and the French CAC-40 fell 0.3% to 5,751.92


[R]11:30AM U.S. market averages further dropped on weak gasoline stockpiles.[/R]
U.S. stock market averages moved further to the downside after the U.S. government reported the ninth straight weekly drop in the nation''s gasoline, raising concerns about supplies ahead of the peak driving season. The energy report sent the Dow Jones nearly 80 points lower. The leading drags on the blue-chip average included General Motors Corp. (GM: chart), down 2.2%, IBM (IBM: chart), falling 1.3%, Caterpillar Inc. (CAT: chart), losing 1.1%, Citigroup Inc. (C: chart), down 1.8%, and Dupont (DD: chart), down 1%. Among biotech stocks, Amgen (AMGN: chart) lost 0.3%, while Vertex (VRTX: chart) and InterMune (ITMN: chart) moved notably lower, down 2.5% and 1.7% respectively. Some health insurance stocks also came under pressure. Health Net (HNT: chart) helped to lead the sector lower, falling 3% after Merrill Lynch downgraded its rating on the company''s stock to neutral from buy, citing valuation.

Housing, technology, and defense stock also posted weakness. Housing stocks declined on concerns about the outlook for the housing market. Hovnanian (HOV: chart) slipped 2.3%, Pulte Homes (PHM: chart) dropped 2.4%, and Meritage Homes (MTH: chart) lost 2.1%, standing out as some of the sector''s worst performances. At the same time, notable strength was visible in the gold sector, as the price of the precious metal extended recent advance. In late morning trading, the Dow fell 78.18, or 0.62%, to 12,495.67, after dropping by as many as 102 points. The Standard & Poor''s 500 index slipped 6.87, or 0.47%, to 1,441.52, and the Nasdaq composite index fell 14.57, or 0.59%, to 2,463.04. Bonds rose moderately as stocks moved lower. The yield on the benchmark 10-year Treasury note fell to 4.71% from 4.72% late Tuesday.