Unusual 11 Mid-Day Movers 9/10: DVAX, UAUA, XRTX, NCS Higher; PLAB, MW, NAV, MON Lower

September 10, 2009 12:11 PM EDT

Dynavax Technologies Corporation (Nasdaq: DVAX) 52.6% HIGHER; announced that the U.S. FDA has removed the clinical hold for the HEPLISAVTM Investigational New Drug application in individuals with chronic kidney disease. HEPLISAV is a Phase 3 investigational adult hepatitis B vaccine designed to provide increased, rapid protection with fewer doses than current licensed vaccines.

UAL Corp (NASDAQ: UAUA) 20.8% HIGHER; JP Morgan upgrades their sector view from Neutral to Overweight. Click here for the full report.

Xyratex Ltd. (Nasdaq: XRTX) 19.9% HIGHER; reports Q3 preliminary sales of about $247 million, versus the consensus of $214.34 million.

NCI Building Systems, Inc. (NYSE: NCS) 18.6% HIGHER; reports Q3 adj-EPS of $0.25, versus the analyst estimate of $0.11. Revenue for the quarter was $238.4 million, versus the consensus of $263.06 million.

Photronics, Inc. (Nasdaq: PLAB) 16.4% LOWER; intends to offer, subject to market and other considerations, 6,275,000 shares of its common stock and $50,000,000 aggregate principal amount of convertible senior notes maturing in 2014. Photronics intends to use the net proceeds from these offerings to repay a portion of its outstanding bank borrowings.

YRC Worldwide Inc. (Nasdaq: YRCW) 14.5% HIGHER; said today that union employees at its regional carrier, New Penn, have joined the more than 90% of its employees represented by the International Brotherhood of Teamsters in voting "yes" to ratify a previously announced modified labor agreement. The modified agreement includes a 5% incremental wage reduction and an 18-month cessation of union pension fund contributions, which will not require repayment. Related savings from the pension and wage reduction are approximately $45 million per month, and primarily began in August. Savings increase to an estimated $50 million per month in 2010.

Talbots (NYSE: TLB) 13.8% HIGHER; upgraded by Citi after the close last night and by Piper Jaffray this morning.

Men's Wearhouse (NYSE: MW) 8.4% LOWER; reports Q2 EPS of $0.75, 14 cents better than the analyst estimate of $0.61. Revenue for the quarter was $526.21 million, versus the consensus of $523.31 million. Sees Q3 $0.27-$0.30 GAAP, versus the consensus of $0.32. The Company anticipates comparable store sales of its retail apparel business to decline in a range of 2% to 3% and comparable store sales of its tuxedo rental revenues to increase in a range of 1% to 2% for the third quarter. Total Company sales are expected to be flat to a decrease of 2% for the third quarter.

Navistar International Corp. (NYSE: NAV) 6.9% LOWER; reports Q3 loss of $0.16, which does not compare to the analyst estimate of $0.70. Revenue for the quarter was $2.51 billion, versus the consensus of $2.67 billion. Lowers its FY09 EPS, excluding the Ford settlement, from $2.80-$3.10 to $2.55-$2.85, versus the consensus of $2.92. An an unadjusted basis, the company sees FY09 EPS of $4.95-$5.25.

Monsanto Company's (NYSE: MON) 5.8% LOWER; reaffirmed full-year 2009 ongoing EPS at the low end of its previously-announced range of $4.40 to $4.50, which compares to the consensus of $4.41. Monsanto expects ongoing EPS in the range of $3.10 to $3.30 for fiscal year 2010, which is below the consensus of $4.12. Monsanto re-emphasize its commitment to more than doubling gross profit in fiscal year 2012 over its fiscal year 2007 base, with seeds and genomics making up 85 percent of the total gross profit mix by that time. Total company gross profit is expected to reach $6.1 billion to $6.3 billion in 2010, with seeds and traits gross profit crossing the $5 billion mark for the first time, with a projected range of $5.1 billion to $5.2 billion. Gross profit from Roundup(R) and other glyphosate-based products is expected in the range of $650 million to $750 million in 2010. Also downgraded at BB&T and BofA Merrill.

Och-Ziff Management (NYSE: OZM) 5.3% LOWER; Goldman Sachs replaces Och-Ziff with Blackstone (NYSE: BX) on its Conviction Buy List.

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