Unusual 11 Mid-Day Movers 8/21: SBGI, RNIN, SPPR, XJT Higher; BBX, PSUN, VRGY, HIBB Lower

August 21, 2009 12:21 PM EDT

Sinclair Broadcast Group Inc. (Nasdaq: SBGI) 49.8% HIGHER; the company said its reached a tentative agreement with the ad hoc committee of certain holders of its 3% and 4.875% convertible notes. More from the release.

Wireless Ronin Technologies Inc. (Nasdaq: RNIN) 40.4% HIGHER; Feltl & Co upgraded the stock to Strong Buy from Buy.

BankAtlantic Bancorp, Inc. (NYSE: BBX) 25.9% LOWER; today announced that it has set a subscription price of $2.00 per share for its previously announced rights offering of up to $100 million of its Class A Common Stock to its shareholders of record as of August 24, 2009.

Supertel Hospitality (Nasdaq: SPPR) 25% HIGHER; President and CEO, Kelly Walters, purchased 40,000 shares on 8/19-8/20 at prices ranging from $1.76-$1.80, bringing his stake to 120,000 shares.

ExpressJet Holdings (NYSE: XJT) 18.2% HIGHER; announced that its Board of Directors has authorized an additional $10 million for the previously announced securities repurchase program.

Zumiez Inc. (Nasdaq: ZUMZ) 16.7% HIGHER; reports Q2 loss of $0.07, ex-items, 6 cents better than the analyst estimate of ($0.13). Revenue for the quarter was $52.2 million, versus the consensus of $84.01 million. Zumiez sees Q3 EPS $0.05-$0.07, versus the consensus of $0.07. Sees Q3 comps down mid-to-low teen range. The stock was also upgraded to Market Perform at BMO Capital and had its price target lifted to $11 at Piper Jaffray.

Rentech, Inc. (NYSE: RTK) 13% HIGHER; announced that it has sold quantities of its synthetic diesel fuel, RenDiesel(R), for use in a special military vehicle to demonstrate the viability of synthetic fuel for the U.S. Military at the upcoming Air Show at the Selfridge Air National Guard Base.

Pacific Sunwear of California, Inc. (Nasdaq: PSUN) 10% LOWER; reports Q2 loss of $0.22, 1 cents better than the analyst estimate of ($0.23). Revenue for the quarter was $243 million, versus the consensus of $239.67 million. Q2 comps down 24%. Pacific Sunwear sees a Q3 loss of $0.16-$0.23, versus the consensus of a $0.09 loss. Pacific Sunwear sees Q3 comps down high teens-low twenties.

Verigy, Ltd. (Nasdaq: VRGY) 9.7% LOWER; reports Q2 loss of $0.24, 6 cents better than the analyst estimate of ($0.30). Revenue for the quarter was $87 million, versus the consensus of $83.33 million. Verigy, Ltd. sees a Q4 loss of $0.17-$0.25, versus the consensus of a loss of $0.18. Sees Q4 revenues of $90-$100 million, versus the consensus of $94.2 million. The stock was also downgraded to Equalweight at Barclays.

Hibbett Sports Inc. (Nasdaq: HIBB) 8.4% LOWER; reports Q2 EPS of $0.04, 6 cents worse than the analyst estimate of $0.10. Revenue for the quarter was $123.1 million, versus the consensus of $124.99 million. Q2 comps fell 3.6%. Hibbett Sports sees FY10 comps down 4%-unchanged. Sees FY EPS of $0.85-$0.90, versus prior guidance of $1.03-$1.17 and the consensus of $1.11.

Foot Locker (NYSE: FL) 8.1% LOWER; reports Q2 EPS of $0.00, 7 cents lower than the analyst estimate of $0.07. Revenue for the quarter was $1.10 billion, versus the consensus of $1.17 billion. Same store sales fell 12.1% during the quarter.

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

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