Unusual 11 Mid-Day Movers 10/28: CTS, QTM, KWR, CIT, NTRI Higher; KSP, CALC, PSYS, ILMN Lower

October 28, 2009 1:31 PM EDT

K-SEA Transportation Partners LP (NYSE: KSP) 33.6% LOWER; reports Q1 loss of $0.29, cents better than the analyst estimate of $0.29. Cuts its quarterly distribution from $0.77 to $0.44.

California Coastal Communities, Inc. (Nasdaq: CALC) 29.6% LOWER; announced today that the Company and certain of its subsidiaries have filed voluntary petitions for reorganization under Chapter 11 of the U.S. Bankruptcy Code in order to extend the maturity dates of approximately $182 million of indebtedness related to the Company's Brightwater development project and to modify and eliminate certain debt covenants. The petitions were filed on October 27, 2009 in the U.S. Bankruptcy Court in the Central District of California.

Psychiatric Solutions, Inc. (NASDAQ: PSYS) 25.4% LOWER; reports Q3 EPS of $0.50, 6 cents better below the analyst estimate of $0.56. Revenue for the quarter was $455.3 million, which compares to the estimate of $462.18 million. Psychiatric Solutions cuts FY EPS view to $2.11-$2.14, versus the consensus of $2.27. The stock was also downgraded at Soleil.

CTS Corporation (NYSE: CTS) 24.2% HIGHER; reports Q3 EPS of $0.06 (ex-charges) vs. the analyst estimate of $0.07. Revenue for the quarter was $126.6 million, which compares to the estimate of $148 million.

FSI International Inc. (NASDAQ: FSII) 20.7% LOWER; reports Q4 loss of $0.00. Revenue for the quarter was $14.20 million, which compares to the estimate of $15.42 million. Sees Q110 revs of $13 - $16 million.

Illumina Inc. (Nasdaq: ILMN) 19.2% LOWER; reports Q3 EPS of $0.13, ex-items, 7 cents lower than the analyst estimate of $0.20. Revenue for the quarter was $158.4 million, which compares to the estimate of $167.32 million. Sees Q4 adj-EPS of $0.24-$0.25, versus the consensus of $0.27. Sees Q4 minimum sales of $165 million, versus the consensus of $200.16 million. The stock was upgraded to Above Average at Caris.

Quantum Corporation (NYSE: QTM) 18.4% HIGHER; reports Q2 EPS of $0.06, $0.11 ex-items, versus the analyst estimate of $0.04. Revenue for the quarter was $175 million, which compares to the estimate of $164.01 million.

Quaker Chemical Corporation (NYSE: KWR) 16.4% HIGHER; reports Q3 EPS of $0.45, 10 cents better than the analyst estimate of $0.35. Revenue for the quarter was $118.9 million, which compares to the estimate of $105 million.

CIT Group (NYSE: CIT) 14.5% HIGHER; has spiked mid-day following news that the company has received $4.5 billion in financing, not from Carl Icahn.

NutriSystem (NASDAQ: NTRI) 13.5% HIGHER; reports Q3 EPS of $0.27, 3 cents better than the analyst estimate of $0.24. Revenue for the quarter was $127 million, which compares to the estimate of $117.21 million. The stock was also upgraded to Outperform at Boenning & Scattergood.

Unisys (NYSE: UIS) 12.6% HIGHER; reports Q3 EPS of $1.48, versus the analyst estimate of $0.45. Revenue for the quarter was $1.16 billion, which compares to the estimate of $1.11 billion.

To get this report daily visit http://www.streetinsider.com/entities/Unusual+11+Mid-Day+Movers.

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• Carl Icahn
• Soleil Securities
• Boenning & Scattergood
• Unusual 11 Mid-Day Movers
• Bankruptcy

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