Unusual 11 Mid-Day Movers 5/28: AKNS, DAKT, BCON, HIMX Higher; ATSG, INGN, FPP, SCON Lower

May 28, 2008 1:14 PM EDT

Air Transport Services Group, Inc. (NASDAQ: ATSG) 45.5% LOWER; today announced that its subsidiary, ABX Air, is reviewing DHL's announced plan to restructure its U.S. operations and to pursue negotiations to outsource its domestic air network to UPS. According to the press release, DHL currently provides approximately $280.8 million, or 74 percent of ATSG's consolidated revenues, and $4.0 million, or 64 percent of its pretax earnings, for the first quarter of 2008. According to ATSG, the removal of 39 DC-9s from DHL service would reduce ATSG's annual revenues from expenses subject to markup, and pretax income, by approximately $80 million and $2.5 million, respectively.

Introgen Therapeutics, Inc. (NASDAQ: INGN) 29.3% LOWER; today announced that ADVEXIN(R) significantly increased survival in end-stage head and neck cancer patients with prospectively identified p53 favorable profiles (7.2 vs. 2.7 months; p less than 0.0001). In the intent-to-treat population, including patients with p53 favorable and unfavorable p53 profiles, ADVEXIN and methotrexate had similar overall survival while ADVEXIN had a superior safety profile.

Akeena Solar (Nasdaq: AKNS) 16.8% HIGHER; Kaufman Bros initiated coverage this morning on a number of alternative energy related stocks, including Akeena. The firm started Akeena at Buy with a $12 price target.

Fieldpoint Petroleum (NYSE: FPP) 14.3% LOWER; after running up from just over $3 at the beginning of last week to $7 by the end of the week, shares of Fieldpoint are still correcting this week.

Daktronics, Inc. (Nasdaq: DAKT) 14.3% HIGHER; reports Q4 EPS of $0.14, 8 cents better than the analyst estimate of $0.06. Revenues for the quarter were $129.1 million, versus the consensus of $123.33 million. Sees net sales growth for FY09 of more than 20% compared to FY08. Daktronics also expects operating margin in the range of 8-9.5%.

Superconductor Technologies Inc. (Nasdaq: SCON) 13.9% LOWER; announced that certain U.S.-based institutional investors have agreed to invest $6.0 million in cash to purchase two million shares of STI Common Stock. STI expects to use the approximately $5.6 million in net proceeds for general working capital purposes.

Beacon Power Corporation (Nasdaq: BCON) 12.9% HIGHER; Kaufman starts Beacon at Buy with a $3 price target.

Himax Technologies (Nasdaq: HIMX) 12% HIGHER; shares are jumping today on unusually heavy volume despite no company news that would move the stock.

X-Rite (Nasdaq: XRIT) 12% HIGHER; shares of X-Rite began climbing yesterday just after noon on news that the company has increased its cash and cash equivalents to $25 million versus $18 million at the end of the first quarter 2008. Today, the stock is off to the races once again.

KeyCorp (NYSE: KEY) 11.9% LOWER; is updating its previous outlook for net loan charge-offs for 2008. The previous estimated range for net loan charge-offs was .65% to .90% of average loans. The Corporation now anticipates that net loan charge-offs will be in the range of 1.00% to 1.30% for 2008, with second quarter and potentially third quarter net charge-offs running above this range as the Corporation deals aggressively with reducing exposures in the residential homebuilder portfolio and anticipates elevated net loan charge-offs in its education and home improvement loan portfolios.

Polo Ralph Lauren Corp. (NYSE: RL) 11% HIGHER; reports Q4 EPS of $1.00, which may not compare to the consensus of $0.65. Revenues came in at $1.185 billion versus the consensus of $1.15 billion. Polo Ralph Lauren reaffirms 2009 forecast, sees 2009 EPS of $3.95-$4.05. Authorizes a new $250 million share buyback.

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