Morning Movers 5/13: SUFB, CIMT, ATV, VVUS Higher; MDCO, KRG, LIZ, SOLR, BKUNA, ATSG Lower

May 13, 2009 9:59 AM EDT

First Bankshares, Inc. (Nasdaq: SUFB) 150.3% HIGHER; and Xenith Corporation announced their intention to merge. Upon closing of the merger, the combined organizations will operate as a one-bank holding company under the name Xenith Bankshares, Inc. Click here for the full report.

The Medicines Company (NASDAQ: MDCO) 42% LOWER; today announced that it is discontinuing its Phase 3 CHAMPION clinical trial program of cangrelor in patients undergoing percutaneous coronary intervention. Click here for the full report.

Cimatron Limited (Nasdaq: CIMT) 36.3% HIGHER; announced that it will be participating in the open house of the machine tool distributor for Spinner in Italy. Click here for the full report.

Kite Realty Group Trust (NYSE: KRG) 24.3% LOWER; priced its public offering of 25,000,000 newly issued common shares at $3.20 per share. Kite Realty Group closed a $4 yesterday, representing a 20% discount on the pricing.

Liz Claiborne (NYSE: LIZ) 23.9% LOWER; reports Q1 loss of $0.37 per share, ex-items, below the consensus of a $0.23 loss. Revenues came in at $779.7 million, versus the consensus of $884.3 million. Click here to see some comments from the company's CEO.

GT Solar International, Inc. (NASDAQ: SOLR) 23.3% LOWER; reports Q4 EPS of $0.08, 10 cents lower than the analyst estimate of $0.18. Revenue for the quarter was $138.5 million, versus the consensus of $151.29 million. Sees FY10 sales of $450-$550 million, versus the consensus of $554.12 million. EPS for the year are expected to be in the range of $0.45-$0.60, versus the Street estimate of $0.71.

BankUnited (Nasdaq: BKUNA) 21.9% LOWER; correcting today following a 122% run-up yesterday on reports that John Kanas, North Fork Bancorp’s former CEO, is leading a bid by Carlyle Group, Blackstone Group LP and WL Ross & Co., to acquire BankUnited Financial Corp.

Air Transport Services Group, Inc. (NASDAQ: ATSG) 20% LOWER; correcting today following a 50% surge yesterday on better-than-expected earnings.

Acorn International, Inc. (NYSE: ATV) 19% HIGHER; reports Q1 EPS of $0.10, ex-items, 10 cents better than the analyst estimate of $0.00. Revenue for the quarter was $90.7 million, versus the consensus of $59.90 million. Sees FY09 sales of $310-$350 million, versus the consensus of $245 million.

Colonial BancGroup (NYSE: CNB) 18.7% LOWER; correcting today following a 160% rise in the last 5 trading days.

SORL Auto Parts, Inc. (Nasdaq: SORL) 18.2% LOWER; reports Q1 EPS of $0.05, versus $0.19 in Q108. Revenue for the quarter was $20.2 million, compared to $30.7 $ million in the same quarter last year.

Protective Life Corporation (NYSE: PL) 16.3% LOWER; announced a proposed offering of 12,500,000 shares of common stock to the public. The net proceeds from the offering will be used for general corporate purposes.

China Digital TV Holding Co. Ltd (NYSE: STV) 15.5% LOWER; reports Q1 EPS of $0.13, in-line with the analyst estimate of $0.13. Revenue for the quarter was $14.4 million, versus the consensus of $14.24 million. Sees Q2 sales of $14.5-$15.5 million, versus the consensus of $17.46 million.

VIVUS, Inc. (Nasdaq: VVUS) 15.4% HIGHER; today announced that it has initiated an open label safety study (TA-314) with its investigational drug, avanafil, in males with erectile dysfunction. Here is the full report.

Cliffs Natural Resources Inc. (NYSE: CLF) 15.1% LOWER; announced that it is offering to sell, subject to market and other conditions, 12,000,000 common shares through an underwritten offering. Also decided to cut its dividend by 55% to $0.04 from $0.0875. Cliffs Natural Resources said the action would result in an annual cash savings of approximately $22 million.

MGM MIRAGE (NYSE: MGM) 15% LOWER; has commenced an underwritten public offering of 81.0 million shares of its common stock. It is expected that the offering will have gross proceeds of approximately $1 billion. MGM MIRAGE also announced that it proposes to make a private placement of $1.5 billion in aggregate principal amount of senior secured notes in two tranches due 2014 and 2017, respectively. Click here for the full report.

Allied Irish Banks (NYSE: AIB) 12.2% LOWER; continued pressure on European banks.

Bank of Ireland (NYSE: IRE) 11% LOWER; see AIB.

Ann Taylor Stores Corporation (NYSE: ANN) 10.5% HIGHER; President and CEO Kay Krill today told shareholders at the Company's Annual Meeting that, while sales results in the first quarter were softer than expected -- specifically at the Ann Taylor division -- the Company expects to report a stronger bottom line than analysts have been expecting. Click here to see the full report.

Lannett Company, Inc. (Amex: LCI) 9.3% HIGHER; reports Q3 EPS of $0.05, compared to a loss of $0.05 in the same quarter last year. Revenue for the quarter was $28.8 million, compared to $16.6 million in Q308.

Ferro Corporation (NYSE: FOE) 9.2% HIGHER; upgraded at KeyBanc from Hold to Buy, with a price target of $8. Click here to see full color on the upgrade.

Learning Tree International, Inc. (NASDAQ: LTRE) 8.1% HIGHER; reports a Q2 loss of $0.08, 6 cents better than estimates. Revenues for the quarter were $30.5 million vs. $29.06 million consensus.

Dr Pepper Snapple (NYSE: DPS) 8% HIGHER; reports Q1 earnings of $0.37 per share, ex-items, above the consensus of $0.29. Revenues came in at $1.26 billion, versus the consensus of $1.25 billion. Sees FY09 EPS of $1.70-$1.78, ex-items, versus the consensus of $1.67.

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