Unusual 11 Mid-Day Movers 5/22: OXGN, SEED, ARUN, BBOX Higher; ATAC, RRGB, GM, ZUMZ Lower

May 22, 2009 12:24 PM EDT

OXiGENE, Inc. (Nasdaq: OXGN) 29.6% HIGHER; trading higher in anticipation of data on ZYBRESTAT following news last night that OXiGENE will issue that results from a Phase 2 clinical trial on the candidate at the upcoming 2009 Annual Meeting of the American Society of Clinical Oncology in Orlando, FL, June 1, 2009.

Origin Agritech Limited (NASDAQ: SEED) 25.2% HIGHER; sees FY09 sales of RMB 550-RMB 580 million, with annual operating cash flow expected to be around RMB 80 million.

Aruba Networks, Inc. (Nasdaq: ARUN) 24.4% HIGHER; reports Q3 EPS of $0.01, 2 cents better than the analyst estimate of ($0.01). Revenue for the quarter was $45.8 million, versus the consensus of $42.79 million. Also upgraded at Jefferies, JPMorgan and Wedbush Morgan.

ATC Technology Corporation (Nasdaq: ATAC) 21.8% LOWER; today announced that late yesterday it received verbal indication from Honda of their intention to in-source the remanufacturing of automatic transmissions as early as year-end. The remanufacturing of automatic transmissions for Honda accounted for approximately $52 million of ATC's 2008 revenues (approximately 10% of Company revenues and 29% of Drivetrain segment revenues). Baird also downgraded the stock to Neutral.

Black Box Network Services (Nasdaq: BBOX) 21% HIGHER; reports Q1 EPS of $0.48, versus the analyst estimate of $0.64. Revenue for the quarter was $241.3 million, versus the consensus of $239.70 million.

Red Robin Gourmet Burgers, Inc. (Nasdaq: RRGB) 19% LOWER; reports Q1 EPS of $0.47 adjusted, 13 cents better than the analyst estimate of $0.34. Revenue for the quarter was $270.8 million, versus the consensus of $274.23 million.

General Motors (NYSE: GM) 16.5% LOWER; reports out earlier that Obama plans to send GM into bankruptcy as early as next week.

Zumiez Inc. (Nasdaq: ZUMZ) 16.5% LOWER; reports Q1 loss of $0.06, 2 cents better than the analyst estimate of ($0.08). Revenue for the quarter was $76.8 million, versus the consensus of $76.52 million. Sees Q2 loss of 17c to 14c versus loss of 7c consensus.

Cougar Biotechnology, Inc. (Nasdaq: CGRB) 16.3% HIGHER; Johnson & Johnson (NYSE: JNJ) and Cougar announced a definitive agreement whereby Cougar Biotechnology will be acquired for approximately $1.0 billion in a cash tender offer. Under the terms of the agreement, Johnson & Johnson will initiate a tender offer, through a new wholly-owned subsidiary, to purchase all outstanding shares of Cougar Biotechnology at $43 per share.

Casual Male Retail (Nasdaq: CMRG) 15.9% HIGHER; continuing higher today following yesterday's 12% jump on earnings. The retailer reported Q1 EPS of $0.01, 4 cents better than the analyst estimate of ($0.03). Revenue for the quarter was $97.6 million, versus the consensus of $97.50 million.

LDK Solar Co., Ltd. (NYSE: LDK) 13.2% LOWER; reports Q1 loss of $0.21 versus the analyst estimate of ($0.08). Revenue for the quarter was $283.3 million, versus the consensus of $239.97 million. Also downgraded to Sell at Lazard.

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

Related Categories

Special Reports

Stocks Mentioned

Related Entities

• JPMorgan
• Jefferies & Co
• Robert W Baird
• Lazard
• Wedbush Morgan
• Unusual 11 Mid-Day Movers
• Bankruptcy
• Barack Obama

Add Your Comment

Name

Subject

Body

Verification can't see the text?
click here to refresh the image.
what's this?