Unusual 11 Mid-Day Movers 7/21: MNOV, JRN, JDAS, BCRX Higher; CIT, IDIX, STSA, LXK Lower

July 21, 2009 12:27 PM EDT

MediciNova, Inc. (Nasdaq: MNOV) 28.3% HIGHER; announced last night that it plans to evaluate MN-221, a highly selective beta2-adrenergic receptor agonist, for the treatment of chronic obstructive pulmonary disease exacerbations. More from the release.

Journal Communications, Inc. (NYSE: JRN) 24.8% HIGHER; reports Q2 EPS of $0.07, 4 cents better than the analyst estimate of $0.03. Revenue for the quarter was $109.4 million, versus the consensus of $110.92 million. For Q3, the Company currently anticipates that its publishing, television and radio revenues will be down compared to the prior year period, reflecting continued challenges across its businesses.

CIT Group (NYSE: CIT) 24.8% LOWER; after announcing this morning that it has secured a $3 billion loan facility from a major bondholder, CIT later issued several not-so-reassuring statements: the company expects a Q2 loss of more than $1.5 billion and despite the loan confirmation, said bankruptcy is still an option. Undermining the news even more, Themis Trading's Joe Saluzzi put out a note speculating that trading the stock was manipulated recently.

Idenix Pharmaceuticals, Inc. (Nasdaq: IDIX) 23.7% LOWER; reports Q2 loss of $0.28, 3 cents below than the analyst estimate of ($0.25). Revenue for the quarter was $2.45 million, versus the consensus of $3.39 million.

JDA Software (Nasdaq: JDAS) 22.8% HIGHER; reports Q2 EPS of $0.47, 17 cents better than the analyst estimate of $0.30. Revenue for the quarter was $99.5 million, versus the consensus of $86.2 million.

Sterling Financial Corporation (NASDAQ: STSA) 19.7% LOWER; announced that it has filed a universal shelf registration statement for a total of $500 million of equity, debt, or other types of securities.

Lexmark International, Inc. (NYSE: LXK) 19.3% LOWER; reports Q2 EPS of $0.55, 5 cents lower than the analyst estimate of $0.60. Revenue for the quarter was $905 million, versus the consensus of $915.75 million.

BioCryst Pharma (Nasdaq: BCRX) 15.8% HIGHER; after trading in negative territory just after today's open, shares have spiked mid-day on no news but extremely heavy volume.

Hemispherx BioPharma (AMEX: HEB) 15.7% HIGHER; continuing higher today following a jump yesterday amid news that management will hold a conference call updating its influenza research initiatives tomorrow, July 22. The stock is also likely seeing upside for similar reasons as BioCryst.

Human Genome Sciences (Nasdaq: HGSI) 14.5% HIGHER; shares are seeing some follow-through upside today after yesterday's unprecedented 275% spike on news that the company's lupus treatment, BENLYSTA met its primary endpoint in a trial. Certainly adding to upward momentum, the stock has been upgraded by at UBS, Bernstein and ThinkEquity.

Regions Financial Corporation (NYSE: RF) 12.6% LOWER; reports Q2 loss of $0.28, 6 cents worse than the analyst estimate of ($0.22).

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

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