Movers: CompuCredit, Lehman, Pinnacle Airlines, Texas Instruments

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com/ticker/' rel='ticker'>INCY) says, in clinical tests, its selective oral inhibitor of the 11beta-hydroxysteroid dehydrogenase type 1 (11beta-HSD1) enzyme demonstrated improvements in insulin sensitivity and lowered cholesterol levels in Type 2 diabetics. Notes the test results were presented before the American Diabetes Association.

Hireright (HIRE) agrees to be acquired by US Investigations Services LLC for $15.60 per share, or about $195 million in cash.

UTStarcom (UTSI) agrees to sell its Mobile Solutions Business Unit to the global private equity firm OpenGate Capital. The transaction is expected to close in approximately three weeks and financial terms of the transaction were not announced. Separately, announces that it has appointed Peter Blackmore as CEO, effective July 1.

Shuffle Master (SHFL ) posts better-than-expected $0.09, vs. $0.10, second quarter GAAP EPS from continuing operations as forex, impairment charges offset 10% total revenue rise. Street was looking for $0.07.

Chartered Semiconductor Manufacturing (CHRT) expects second quarter gross profit to be lower by about $15 million compared to the mid-point of its prior guidance, due to increased costs. About $9 million of the cost increase is attributable to a less favorable build-up of work-in-progress inventory, $3 million to higher depreciation in Fab 3E as a result of the valuation exercise that is in progress and about $2 million to a weaker U.S. dollar.

Overseas Shipholding Group (OSG) announces that it has increased its regular quarterly dividend by 40% to $0.4375 per share from $0.3125. In addition, board authorizes a new share purchase program of $250 million, which replaces the prior $200 million share repurchase program that was completed during the second quarter of 2008.

CMGI (CMGI) posts $0.05 third quarter GAAP loss per share, vs. $0.19 EPS, on 15% revenue decline. Now expects fiscal year 2008 revenue of about $1.05-$1.10 billion, compared with its previous range of $1.10-$1.15 billion and operating income, before any restructuring expenses, to be at the low end of its previous guidance of 2.0%-2.5% of revenue.

Wedbush Morgan downgrades Skechers U.S.A. (SKX) to buy from strong buy.