Unusual 11 Mid-Day Movers 1/27: CVTX, VGZ, PRXL, CVG Higher; FED, COT, XPRT, IBCP Lower

January 27, 2009 12:01 PM EST

CV Therapeutics, Inc. (Nasdaq: CVTX) 42.3% HIGHER; Japanese drugmaker Astellas Phama has offered to acquire CV Therapeutics for $16 per share, which is a nice premium to yesterday's $11.35 per share closing. CV Therapeutics rejected the overture. Click here for the full report.

FirstFed Financial Corp. (NYSE: FED) 29.3% LOWER; announced last night a reduction in the staff of its wholly-owned banking subsidiary, First Federal Bank of California, by 62 persons, or approximately 10% of the Bank's current workforce. FirstFed also announced today that the company and its bank have each consented to the issuance of an Order to Cease and Desist by the Office of Thrift Supervision.

Cott Corporation (NYSE: COT) 28.7% LOWER; announces the phase-out of its exclusive supply agreement with Wal-Mart in the United States. Click here for the full report.

Vista Gold (NYSE: VGZ) 26.7% HIGHER; announced last night that its Batman deposit has returned a 57% increase in the estimated total gold resources to 6.3 million ounces resulting from the success of the 2008 drilling program.

PAREXEL (Nasdaq: PRXL) 26.5% HIGHER; reports Q2 EPS of $0.23, ex-items, 4 cents better than the analyst estimate of $0.19. Revenue for the quarter was $275.8 million, versus the consensus of $269.80 million. Sees Q3 sales of $273-$283 million, versus the consensus of $272.89 million, with GAAP EPS of $0.23-$0.25, which may not compare to the non-GAAP consensus of $0.23. For FY09, PAREXEL widened its sales guidance from $1.08-$1.11 billion to $1.095-$1.115 billion, versus the consensus of $1.10 billion, with non-GAAP EPS of $0.94-$0.98, versus the Street estimate of $0.95.

Convergys (NYSE: CVG) 22.6% HIGHER; despite swinging to a Q4 loss, which was reported today before the market opened, investors are cheering the company's guidance. Click here for the full report.

LECG Corporation (NASDAQ: XPRT) 21.7% LOWER; announced preliminary fourth quarter financial information with revenue of approximately $70 million, and a loss of $0.21-0.23 per share expected for the quarter, excluding anticipated restructuring, divestiture and impairment charges. (Consensus is $88.40 million and $0.11 profit) Click here for the full report.

Independent Bank Corporation (Nasdaq: IBCP) 21.4% LOWER; reports Q4 loss of $3.80, versus the analyst estimate of ($0.05).

Allied Irish Bank (NYSE: AIB) 20.8% HIGHER; making its appearance on the Unusual 11 Mid-Day Movers for the second day in a row, Allied is bouncing today on heavy volume and no major news that would justify the double-digit percentage jump. Since nationalization fears tanked the stock 75% on Tuesday of last week, the stock has only had up days since, gaining back more than 117%.

Delta Air Lines (NYSE: DAL) 19.3% LOWER; reports Q4 loss, ex-itmes, of $0.50 per share, versus the consensus of $0.34 loss. Results include $0.12 per diluted share from the negative non-cash impact of purchase accounting. Revenues came in at $7.77 billion, versus the consensus of $7.99 billion.

Volterra Semiconductor Corporation (Nasdaq: VLTR) 18.2% HIGHER; reports Q4 EPS of $0.09, 4 cents better than the analyst estimate of $0.05. Revenue for the quarter was $21.9 million, versus the consensus of $21.95 million. The stock was also upgraded to Buy at Needham earlier.

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

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