After-Hours Movers: Hoku Scientific (HOKU) and Novastar Financial (NFI) Surge

December 5, 2007 6:42 PM EST

StreetInsider.com After-Hours Movers:

Hoku Scientific, Inc. (Nasdaq: HOKU) 36% HIGHER; announced that it has signed a non-binding term sheet with Merrill Lynch for Hoku Materials, Inc., its wholly owned subsidiary, to borrow approximately up to $185 million for the construction, procurement and start-up of its planned polysilicon production plant in Pocatello, Idaho.

Novastar Financial Inc. (NYSE: NFI) 27% HIGHER; entered into a Master Repurchase Agreements Waiver with Wachovia Bank, N.A. and certain of its affiliates pursuant to which Wachovia agreed not to enforce, for a period ending on December 7, 2007, the adjusted tangible net worth requirement under the Agreements described below, and waived, for the same period, any breach and/or event of default that would have resulted under the Agreements solely as a result of the Company's failure to maintain the required adjusted tangible net worth.

Theravance, Inc. (Nasdaq: THRX) 7% HIGHER; Announces Positive Topline Results In Phase 3 Telavancin Hospital-Acquired Pneumonia Program

Zumiez Inc. (NASDAQ: ZUMZ) 7% LOWER; announced the company's comparable store sales increased 5.6% for the four-week period ended December 1, 2007.

Comtech Telecommunications (Nasdaq: CMTL) 6% LOWER; reported Q3 EPS of $0.54, 5 cents better than the analyst estimate of $0.49. Revenues for the quarter were $115 million, versus the consensus of $108.88 million.

Solarfun Power Holdings Co. Ltd. (Nasdaq: SOLF) 6% LOWER; gives backs some recent gains. The stock has doubled over the last week.

The Children's Place Retail Stores, Inc. (Nasdaq: PLCE) 5% HIGHER; Becomes Current in All Delayed SEC Filings

Countrywide Financial (NYSE: CFC) 4% HIGHER; continues today's 4% move higher on reports the Bush administration has hammered out an industry agreement to freeze interest rates for certain subprime mortgages for five years.

GameStop Corp. (NYSE: GME) 3.5% HIGHER; will replace Dow Jones & Co. Inc. (NYSE: DJ) in the S&P 500

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