Unusual 11 Mid-Day Movers 8/19: SPDE, CERS, OTIX, ISR, AXL Higher; GENT, PSTI, PLAB, LFT Lower

August 19, 2009 11:58 AM EDT

Speedus Corp. (Nasdaq: SPDE) 110% HIGHER; Zargis announces the first electronic stethoscope with bluetooth wireless capability in deal with 3M (NYSE: MMM).

Cerus Corporation (NASDAQ: CERS) 77.5% HIGHER; announced today that the Swiss regulatory body, Swissmedic, has approved the use of platelet components treated with Cerus' INTERCEPT Blood System. The approval extends permitted storage time for platelets to seven days with INTERCEPT treatment, compared to five days without treatment.

Otix Global (Nasdaq: OTIX) 40.3% HIGHER; Sonic Innovations, part of the Otix family, has been awarded a contract to supply hearing aids to the U.S. Veterans Administration beginning Nov. 1, 2009. According to industry data from the Hearing Industry Association, the VA represents approximately 18 percent of the market for hearing aids and experienced unit growth of more than 29 percent for the three months ended June 30, 2009 compared to the same period of 2008. Click here to see the full report.

IsoRay (AMEX: ISR) 29.7% HIGHER; continuing higher following yesterday's 116% rise on news that it received FDA clearance supporting Proxcelan(TM) Cesium-131 Brachytherapy Seeds for the enhanced loading and delivery methods for treatment of cancers well beyond the current prostate market.

American Axle (NYSE: AXL) 15.8% HIGHER; after more than doubling yesterday on news that it will get $110 million in cash from GM, the stock is jumping again today amid numerous bullish analyst calls: Credit Suisse upgraded AXL from Neutral to Outperform with an $8 price target; JP Morgan set a $6 price target but keep their Neutral rating; Buckingham Research raised their target to $12 from $9 and maintained their Strong Buy rating; Baclays lifted their price target to $8 from $4 but maintained their Equal-Weight rating.

Gentium S.p.A. (NASDAQ: GENT) 14.5% LOWER; announced top-line results from a historically controlled, multicenter, open label, Phase III trial designed to evaluate the safety and efficacy of 25 mg/kg/day of Defibrotide for the treatment of severe veno-occlusive disease (sVOD) in hematopoietic stem cell transplant (SCT) patients. The results demonstrate strong trends in favor of the Defibrotide-treated patients for complete response and survival, but did not reach the protocol-specified levels of significance for the primary and secondary endpoints at 100 days.

Pluristem Therapeutics (Nasdaq: PSTI) 13.8% LOWER; correcting today following a 37% surge over the two prior trading sessions.

Photronics (Nasdaq: PLAB) 13.7% LOWER; reports Q3 non-GAAP loss of $0.13, 6 cents better than the analyst estimate of ($0.19). Revenue for the quarter was $95.4 million, versus the consensus of $88.19 million.

Popular, Inc. (Nasdaq: BPOP) 13% HIGHER; today announced that it has determined the Relevant Price and Exchange Ratios in connection with its previously announced offer to issue up to 390 million shares of its Common Stock in exchange for its Series A Preferred Stock and Series B Preferred Stock and for the Trust Preferred Securities. Click here for the full report. The stock was also upgraded at KBW earlier.

Longtop Financial (NYSE: LFT) 9.8% LOWER; reports Q1 EPS of $0.20, ex-items, 1 cent lower than the analyst estimate of $0.21. Revenue for the quarter was $28.5 million, versus the consensus of $27.16 million. Sees Q2 adj-EPS of $0.37, versus the Street estimate of $0.37, on sales of $37.5 million, versus the consensus of $36.80 million. Raises its FY10 non-GAAP EPS guidance to about $1.22, versus the consensus of $1.19, on sales of about $145 million, which compares to the Street estimate of $143.46 million.

Vantage Drilling Company (NYSE: VTG) 9.4% LOWER; announced that it intends to offer, subject to market and other conditions, 46,500,000 of its ordinary shares. In connection with this offering, Vantage will grant the underwriters an option to purchase 6,975,000 additional ordinary shares to cover any over-allotments. Vantage intends to use proceeds from this offering, as well as the proceeds from the financing for its Aquamarine Driller, to finance the final construction payment for the Aquamarine Driller, and to use the remainder for general corporate purposes and working capital.

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

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