Updated from 9:29 a.m. EDT

Scottish Re Group

(SCT)

gained after the life insurance company said its underlying business was sound despite having its ratings lowered by Standard & Poor's and Moody's. Paul Goldean, interim CEO, said in a statement that the downgrades are in response to Scottish Re's disclosure that the company's short-term liquidity and collateral sources are tight and that the company is in active discussions regarding capital and liquidity alternatives. Shares gained 17 cents, or 2.4%, to $7.23.

Bob Evans Farms

(BOBE)

rose after the restaurant operator said fiscal first-quarter earnings jumped 82%, but the company still was hurt by sluggish sales at its namesake chain. Revenue increased to $403.4 million from $395.6 million a year earlier, though same-store sales declined 3.9% at its Bob Evans restaurants. Shares added 1 cent to $27.76.

Cheesecake Factory

(CAKE) - Get Report

slipped after the restaurant chain received word from

Nasdaq

that it was subject to delisting because it hasn't yet filed its second-quarter report. The company said it requested a hearing before the Nasdaq Listing Qualifications Panel to appeal the decision. Shares lost 19 cents, or 0.8%, to $23.80.

Candela

( CLZR) plummeted after the bell Monday when the medical appliances and equipment company posted a drop in fourth-quarter earnings. Revenue increased 7% over a year ago to $41.3 million. Shares fell $3.85, or 26.6%, to $10.64.

Other early movers included

XM Satellite Radio

( XMSR), which rose after getting an upgrade from Bear Stearns to outperform from underperform. XM was up 97 cents, or 8.6%, to $12.21. Competitor

Sirius Satellite Radio

(SIRI) - Get Report

was gaining 11 cents, or 2.8%, to $4.

Multi-Fineline Electronix

(MFLX)

was climbing after a special committee of its board withdrew its recommendation for the company's proposed offer to acquire MFS Technology. Multi-Fineline was higher by $2.54, or 13.9%, to $20.80.