Morning Movers 5/18: KONA, AHR, IDMI, LGTY, IBN, HEB Higher; SPIR, COIN, BIDZ, AYE Lower

May 18, 2009 10:07 AM EDT

Kona Grill Inc. (Nasdaq: KONA) 90% HIGHER; In an amended 13D filing on Kona, 9.8% holder Mill Road Capital disclosed a non-binding offer to acquire all of the Company’s shares for cash in a transaction valuing Kona's total enterprise value at $27.9 million or $4.60 per share.

Anthracite Capital, Inc. (NYSE: AHR) 53.6% HIGHER; today announced that it has entered into a series of amendments to its secured credit facilities with Bank of America, Deutsche Bank, and Morgan Stanley. The facilities have been amended to provide similar terms which, among other things, extend the maturities of all facilities to September 30, 2010 and eliminate all mark to market provisions. In addition to eliminating outstanding margin calls and the right to make future margin calls, existing scheduled amortization payments were replaced with cash management requirements. Click here for the full report.

IDM Pharma, Inc. (Nasdaq: IDMI) 53.5% HIGHER; Takeda Pharmaceutical Company Limited agreed to acquire IDM Pharma for US$2.64 per share in cash. Shares of IDMI closed at $1.70 per share on Friday, representing a deal premium of 55%. Click here for the full report.

Logility, Inc. (Nasdaq: LGTY) 35.5% HIGHER; American Software, Inc. (Nasdaq: AMSWA) announced today that it has agreed to increase the price of its offer to acquire all of the outstanding common stock of Logility, Inc. not currently owned by American Software to $7.02 per share net to the seller in cash, without interest. The $7.02 offer price represents a premium of 40.4% when compared to the closing price on March 18, 2009 (the last trading day prior to the initial announcement of the tender offer) and a 37.6% premium over American Software's original proposal of $5.10, which was also the closing price on May 14, 2009.

ICICI Bank Ltd. (NYSE: IBN) 33.4% HIGHER; surging today amid a massive rally in the Indian markets following election results.

Sify Technologies (Nasdaq: SIFY) 33.3% HIGHER; see ICICI.

Hemispherx BioPharma (AMEX: HEB) 19.2% HIGHER; continues to spike today following a 41% surge on Friday as traders are anticipating the release of key data on drug candidate.

Spire Corporation (Nasdaq: SPIR) 18% LOWER; after the close Friday, reported Q1 loss of $0.18, versus the analyst estimate of $0.02 and compared to a $0.06 loss in the same quarter last year. Revenue for the quarter was $12.3 million, versus the consensus of $23.60 million.

Dillard's, Inc. (NYSE: DDS) 16.6% HIGHER; Friday, after the close, reported Q1 EPS of $0.10, which may not compare to the analyst estimate of ($0.18). Revenue for the quarter was $1.47 billion, versus the consensus of $1.42 billion. Cuts Q1 inventory by 18%.

Converted Organics Inc. (NASDAQ: COIN) 14.6% LOWER; late Friday, announced that sales of its organic fertilizer products and tip fees totaled $492,000 for Q109.

Bidz.com (Nasdaq: BIDZ) 10.8% LOWER; The Brualdi Law Firm, P.C. announces that a lawsuit has been commenced in the United States District Court for the Central District of California on behalf of purchasers of Bidz.com publicly traded securities during the period between August 13, 2007 through November 26, 2007

China Techfaith Wireless Communication Technology Limited (NASDAQ: CNTF) 10.6% HIGHER; announced that a leading venture capital firm, IDGVC Partners, and Hong Kong-based Infiniti Capital Limited have agreed to make a total of US$20 million investment in One Net Entertainment Limited through its parent company, Leo Technology Limited, a wholly-owned subsidiary of TechFaith. Click here for the full report.

Monogram Biosciences, Inc. (Nasdaq: MGRM) 10.5% HIGHER; announced that its partner Pfizer Inc (NYSE: PFE) has exercised its right to extend the Collaboration Agreement between Monogram and Pfizer. Click here for the full report.

Bank of America (NYSE: BAC) 9% HIGHER; surging today as Goldman Sachs added the bank to its Conviction Buy list. Click here for the full report.

Lennar Corp. (NYSE: LEN) 8.8% HIGHER; is seeing some interest this morning after Citigroup upgraded the homebuilder from Hold to Buy and raised its price target to $12.

Allegheny Energy (NYSE: AYE) 8.4% LOWER; Wachovia downgrades the stock from Outperform to Market Perform. Valuation Range: $28 to $29

MGM MIRAGE (NYSE: MGM) 8% HIGHER; higher today as Kirk Kerkorian's Tracinda disclosed that it will purchase another 14.3 million shares of the company.

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• Goldman Sachs
• Citi
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• StreetInsider.com Morning Movers
• Mill Road Capital
• 13D

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