Unusual 11 Mid-Day Movers 9/28: TIV, ASPM, CNLG, GETI, GMTN Higher; FRP, CLSN, XRX, DRAM Lower

September 28, 2009 1:41 PM EDT

Tri-Valley (AMEX: TIV) 66.7% HIGHER; appears to be breaking out on technicals today. The stock opened above its 200-day smooth moving average and has held onto this level throughout the session. Volume is very heavy.

Aspect Medical Systems, Inc. (NASDAQ: ASPM) 55.2% HIGHER; Covidien (NYSE: COV) agreed to acquire Aspect Medical for $12.00 in cash per Aspect share for a total of approximately $210 million, net of cash and short-term investments acquired. Shares of Aspect Medical closed at $7.67 on Friday.

Conolog Corp. (Nasdaq: CNLG) 46.2% HIGHER; spiking sharply today despite no news. The stock has traded almost 600,000 times just after 1pm ET, versus its average daily volume of just 12,000 shares.

GenTek Inc. (NASDAQ: GETI) 39.9% HIGHER; entered into a definitive agreement to be acquired by ASP GT Acquisition Corp. Under the terms of the merger agreement, ASP will commence a tender offer to purchase for cash all of the outstanding shares of GenTek common stock at a price of $38.00 per share. The transaction is valued at $673 million consisting of equity value of approximately $411 million plus the assumption of net debt and similar liabilities of approximately $262 million.

Gander Mountain Company (Nasdaq: GMTN) 34.6% HIGHER; announced its intent to cease its public company status. Click here for the full report.

FairPoint Communications, Inc. (NYSE: FRP) 29.7% LOWER; announced today that it is in discussions with certain of the lenders under its bank credit facility regarding a permanent debt restructuring. The Company also announced that as part of those discussions, it has entered into a forbearance agreement with lenders that collectively hold more than 50% of the loans and commitments outstanding under the credit facility. Click here for the full report.

Celsion Corporation (NASDAQ: CLSN) 22.4% LOWER; announced that it has entered into definitive agreements with a select group of institutional investors to sell 2,018,153 shares of common stock and warrants to purchase up to 1,009,077 shares of common stock in a registered direct offering. The common stock and warrants will be sold in units, with each Unit consisting of one share of common stock and a warrant to purchase 0.5 shares of common stock, at a negotiated purchase price of $3.50 per Unit. The Company expects to receive gross proceeds from the offering of approximately $7.1 million, before deducting placement agents' fees and estimated offering expenses.

Cardica, Inc. (Nasdaq: CRDC) 22.2% HIGHER; obtained commitments from institutional and individual investors to purchase approximately $10.2 million of its common stock and warrants to purchase common stock in a private placement. Click here to see the full report.

Xerox (NYSE: XRX) 18.3% LOWER; agrees to acquire ACS for $63.11/share, or $6.4 billion.

Dataram Corporation (NASDAQ: DRAM) 16.2% LOWER; today unveiled the XcelaSAN(R) storage optimization appliance, the industry's first solution to seamlessly deliver up to 30x performance improvement to existing applications.

Qualstar Corporation (NASDAQ: QBAK) 10.9% LOWER; reports a Q4 loss of $0.10, 4 cents worse than estimates. Revenues for the fourth quarter of fiscal 2009 were $3.8 million vs. $4.07 million consensus.

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

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