Unusual 11 Mid-Day Movers 4/16: POZN, SORC, EXM, GRO Higher; TLB, HCSG, GLG, CDL Lower

April 16, 2008 1:02 PM EDT

POZEN Inc. (Nasdaq: POZN) 34% HIGHER; GlaxoSmithKline (NYSE: GSK) and POZEN announced today that the FDA has approved Treximet for the acute treatment of migraine attacks with or without aura in adults. Treximet is the first and only migraine product designed to target multiple mechanisms of migraine by combining a triptan, a class of migraine-specific medicines pioneered by GSK, and an anti-inflammatory pain reliever in a single tablet.

Source Interlink Companies, Inc. (Nasdaq: SORC) 25.5% HIGHER; reports Q4 EPS of $0.20, versus $0.18 last year. Revenues for the quarter rose 47.3% to $706.4 million, versus the consensus of $602.5 million.

Talbots (NYSE: TLB) 24% LOWER; disclosed after the bell yesterday that it received notice from HSBC that the bank was no longer prepared to continue making letter of credit facilities available to Talbots.

Healthcare Services Group, Inc. (Nasdaq: HCSG) 21.7% LOWER; reports Q1 EPS of $0.16, 2 cents worse than estimates. Revenues were $147.26 million vs. $153.21 million consensus. The Company also raised its dividend to $0.14 per common share.

Excel Maritime (NYSE: EXM) 20% HIGHER; hearing that a sell-side firm was reiterating their positive stance on the company today, but have seen nothing else that would explain the move. Earlier in the week, the company announced that shareholders approved the merger with Quintana Maritime (NASDAQ: QMAR).

Agria Corp. (NYSE: GRO) 20% HIGHER; on Monday of last week, shares of Agria were trading just under $9. After the Company's COO resigned after the close on April 7, Agria stock fell about 50%. Today's move appears to be a slight correction after much downside.

CryoCor, Inc. (Nasdaq: CRYO) 17.7% HIGHER; and Boston Scientific (NYSE: BSX) today announced that they have signed a definitive merger agreement, under which Boston Scientific will pay a cash purchase price of $1.35 per share of CryoCor, or approximately $17.6 million.

CV Therapeutics, Inc. (Nasdaq: CVTX) 14.8% HIGHER; announced that TPG-Axon Capital has agreed to pay CV Therapeutics up to $185 million in exchange for rights to 50 percent of CV Therapeutics' royalty on North American sales of Lexiscan(TM) (regadenoson) injection.

GLG Partners (NYSE: GLG) 12.6% LOWER; continues to move lower after portfolio manager, Greg Coffey, announced on Monday that he would be leaving the Company to start his own fund. Yesterday, Coffey withdrew his resignation in order to negotiate a more appropriate exit from GLG. Coffey manages about $7 billion at GLG.

Citadel Broadcasting Corp. (NYSE: CDL) 12.3% LOWER; seeing very heavy volume on no news releases from the Company. Elsewhere in the Broadcasting & Cable TV industry, Radio One (Nasdaq: ROIAK) is down about 9.8%

East West Bancorp (Nasdaq: EWBC) 11% LOWER; after the close yesterday, reported Q1 EPS of $0.08, which may not compare to the consensus of $0.46. EWBC also appointed Thomas Tolda as its new CFO and Julia Gouw as its new Vice Chairman and Chief Risk Officer. Also, RBC Capital downgraded EWBC to Sector Perform this morning.

Related Categories

Special Reports

Stocks Mentioned

Related Entities

• TPG-Axon Capital
• RBC Capital

Add Your Comment

Name

Subject

Body

Verification can't see the text?
click here to refresh the image.
what's this?