Unusual 11 Mid-Day Movers 8/28: TGIC, MBI, BDSI, SEED Higher; GENR, FCEL, WSM, FPP Lower

August 28, 2008 12:54 PM EDT

StreetInsider.com Unusual 11 Mid-Day Movers:

Triad Guaranty (Nasdaq: TGIC) 34.4% HIGHER; MBIA's announcement has boosted the majority of the property & casualty insurance industry.

MBIA Inc. (NYSE: MBI) 23.1% HIGHER; announced that its insurance subsidiary, MBIA Insurance Corporation, has agreed to reinsure a portfolio of U.S. public finance bonds insured by Financial Guaranty Insurance Company with total net par outstanding estimated to be approximately $184 billion as of September 30, 2008. MBIA will receive unearned upfront premiums, net of a ceding commission paid to FGIC, of approximately $741 million in connection with the reinsurance.

BioDelivery Sciences International, Inc. (Nasdaq: BDSI) 21.7% HIGHER; today announced receipt of a Complete Response letter from the U.S. FDA regarding the Company's New Drug Application for BEMA(TM) Fentanyl, which will be marketed in the United States as ONSOLIS(TM). The FDA has requested that the Company make modifications to the submitted risk management program. All aspects of the review were complete and no deficiencies were noted in chemistry, manufacturing and controls, nonclinical, or clinical efficacy/safety. The Company will submit the requested information and anticipates a first half 2009 approval.

Genaera (Nasdaq: GENR) 21.1% LOWER; a partner of Genaera, MedImmune, announced this morning that it has voluntarily suspended three ongoing phase 2 studies of MEDI-528 and that MedImmune's Investigational New Drug Application for MEDI-528 for the treatment of asthma was placed on clinical hold by the U.S. FDA.

Origin Agritech Limited (NASDAQ: SEED) 17.7% HIGHER; reports Q3 EPS of $0.38, versus $0.20 in Q307. Revenues for the quarter were $71.54 million, compared to $59.84 million in the same quarter last year. Sees FY08 sales of $75-$80 million, versus the consensus of $79 million.

Ambac Financial (NYSE: ABK) 17.2% HIGHER; see MBIA.

Zale Corporation (NYSE: ZLC) 16.9% HIGHER; reports a Q4 loss of $0.15 vs. consensus for $0.57 loss. Revenues for the fourth quarter were $456 million vs. $448.91 million consensus. For FY09, Diluted EPS in the range of $1.10 to $1.25; Diluted EPS adjusted for total warranty sales in the range of $2.35 to $2.50. (Consensus is $0.90)

FuelCell Energy (Nasdaq: FCEL) 10.7% LOWER; reports Q2 loss of $0.39, 12 cents worse than the analyst estimate of ($0.27). Revenues for the quarter were $27.9 million, versus the consensus of $21.06 million.

Williams-Sonoma, Inc. (NYSE: WSM) 8.7% LOWER; reports Q2 EPS of $0.08 ($0.17 Including a $0.09 Benefit from an Unusual Business Event) vs. consensus of $0.07. Revenues were $819.6 million vs. $832 million consensus. Net revenues in the third quarter of fiscal year 2008 (“Q3 2008”) are projected to be in the range of $802 to $820 million, versus previous guidance of $869 to $887 million. (Consensus is $869.48 million). Diluted EPS on a GAAP basis in Q3 2008 are expected to be in the range of $0.00 to $0.04, versus previous guidance of $0.17 to $0.23. (Consensus is $0.18). Net revenues in fiscal year 2008 (“FY 2008”) are projected to be in the range of $3.572 to $3.638 billion, versus previous guidance of $3.738 to $3.804 billion. (Consensus is $3.75 billion). Diluted EPS on a GAAP basis in FY 2008 are expected to be in the range of $1.03 to $1.15, versus previous guidance of $1.45 to $1.58. (Consensus is $1.31)

United States Natural Gas Fund (AMEX: UNG) 8.3% LOWER; EIA reports natural gas stockpiles rose 102 bcf, versus the consensus of 84 bcf. Today's inventory reading was very bearish for natural gas and as a result the natural gas ETF, UNG, is selling off today.

Fieldpoint Petroleum (AMEX: FPP) 8.3% LOWER; after breaking the $120 mark earlier this morning, crude oil has since tumbled, most recently trading at $115.78, down $2.37 from yesterday's close. As a result of the decline despite 2 Tropical Storms - Gustav and Hanna - possibly approaching the U.S Gulf and the East Coast, speculative oil plays have come under pressure. Other specs down on the day, Mexco Energy (AMEX: MXC), Pyramid Oil (AMEX: PDO) and Blue Dolphin energy (Nasdaq: BDCO).

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