Morning Movers 9/16: KERX, HSR, DARA, ATCO, AEZS, OMTR, ACAS Higher; IRFC, DIET, AGCO, HLCS Lower

September 16, 2009 10:40 AM EDT

Keryx Biopharmaceuticals, Inc. (Nasdaq: KERX) 60.3% HIGHER; announced that KRX-0401 (perifosine) has received Orphan-Drug designation from the FDA for the treatment of multiple myeloma. In August, the Company announced that it had reached an agreement with the FDA regarding a Special Protocol Assessment (SPA) on the design of a Phase 3 trial in relapsed/refractory multiple myeloma and that the study is expected to start by year-end.

Hi-Shear Technology Corporation (NYSE: HSR) 58.1% HIGHER; Chemring Group PLC entered into a conditional agreement to acquire the entire issued stock capital of for a cash consideration of $19.18 per share equating to $132 million.

DARA BioSciences, Inc. (Nasdaq: DARA) 53% HIGHER; continuing higher this morning, on heavy volume after rising 17% yesterday related to news its RN5500 study have been selected for presentation at the 12th International Conference on the Mechanisms and Treatment of Neuropathic Pain to be held in San Francisco, November 19-21, 2009. In this study KRN5500 demonstrated proof of concept by meeting the primary efficacy endpoint of pain reduction.

American Technology (Nasdaq: ATCO) 51% HIGHER; surging on extremely heavy volume. Not hearing any company-specific news.

In a Form 8-K, Irwin Financial (NYSE: IFC) 31% LOWER; announced that it entered into a cease and desist order with the Federal Reserve of Indiana. The Order includes requirements that the Corporation and IUBT achieve certain designated capital levels and reduce reliance on certain types of deposits by September 30, 2009. The Corporation and IUBT believe that there is no realistic prospect of achieving the required capital levels by the date required in the Order and, in the absence of certain loan sales, which the Corporation and IUBT believe would not be approved by appropriate regulatory bodies, they cannot achieve the requisite reduction in reliance on the designated deposits by the required date.

AEterna Zentaris Inc. (NASDAQ: AEZS) 35.2% HIGHER; partners with Keryx. See Keryx.

Omniture Inc. (Nasdaq: OMTR) 25.1% HIGHER; acquired by Adobe (Nasdaq: ADBE) for $21.50. Click here for the full report.

American Capital Ltd. (Nasdaq: ACAS) 22.6% HIGHER; Corning Incorporated (NYSE: GLW) announced that it has acquired all the shares of Axygen BioScience, Inc. and its subsidiaries from ACAS for approximately $400 million in cash.

Amerityre (Nasdaq: AMTY) 16.4% HIGHER; continuing higher since the Chinese tires tariff news on Monday. The stock is up 79% this week.

eDiets.com (Nasdaq: DIET) 15% LOWER; correcting today following a 116% run-up over the last 4 trading sessions.

Aries Maritime Transport Limited (Nasdaq: RAMS) 14.1% HIGHER; announced today that it has entered into a Securities Purchase Agreement with Grandunion Inc., a company controlled by Michail S. Zolotas and Nicholas G. Fistes, pursuant to which the Company has agreed to issue 18,977,778 common shares to Grandunion in exchange for three capesize drybulk carriers.

AGCO (NYSE: AGCO) 11.1% LOWER; updated its outlook for 2009 net sales and adjusted earnings per share. The Company now expects net sales to decline 23% to 25% as compared to 2008 and for 2009 adjusted earnings per share to range from $1.30 to $1.50 (consensus $2.06) Third quarter 2009 sales are now expected to be approximately 30% to 35% below third quarter 2008 levels, and third quarter 2009 net income per share is now expected to be at or slightly below breakeven levels (consensus $0.44).

Littelfuse, Inc. (NASDAQ: LFUS) 11% HIGHER; raises its Q3 sales guidance to $113-$116 million, versus the consensus of $106.50 million. This guidance implies 11-14% sequential increase compared to Q2, versus the company's previous guidance of a 3-7% increase. Non-GAAP EPS for the quarter move from $0.14-$0.21 to $0.27-$0.32. The Street is currently looking for Q3 EPS of $0.18.

Helicos BioSciences Corporation (NASDAQ: HLCS) 10.8% LOWER; today announced that it has entered into a definitive agreement with certain new and existing investors, including Atlas Ventures, Flagship Ventures, Highland Capital Partners, Versant Ventures and Ron Lowy, the Company's chief executive officer, to raise approximately $10 million in gross proceeds in a private placement through the sale of shares of its common stock and warrants. The Company estimates that net proceeds from the offering will be approximately $9.4 million, after deducting placement agent fees and estimated offering expenses, which Helicos intends to use to fund working capital requirements to support its sales and for general corporate purposes. Click here for the full report.

Altra Holdings (Nasdaq: AIMC) 9.9% LOWER; Robert W. Baird downgraded the stock from from Outperform to Neutral. Target raised from $10 to $11.

Premiere Global Services, Inc. (NYSE: PGI) 8.8% LOWER; projects full year revenues will be in the range of $595 million to $605 million versus consensus of $617.04 million. Sees EPS in the range of $0.84 to $0.90 versus consensus of $1.00. The stock was also downgraded at Northland Securities.

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