Unusual 11 Mid-Day Movers 6/4: BOBE, SQNM, GES, FED Higher; IDEV, WBCO, ROYL, COR Lower

June 4, 2008 12:53 PM EDT

Indevus Pharmaceuticals, Inc. (Nasdaq: IDEV) 66.6% LOWER; said, based on a recent discussion with the FDA regarding the NDA filing for NEBIDO, the Company expects the FDA to formally request that the Company provide additional safety data prior to approving NEBIDO.

Washington Banking Company (NASDAQ: WBCO) 25.7% LOWER; Frontier Financial Corporation (NASDAQ: FTBK) announced it received a notice on May 29, 2008 from Washington Banking purporting to terminate its merger agreement with Frontier dated September 26, 2007. WBC advised that in its opinion, required regulatory approvals by federal banking authorities, which is a condition precedent to the merger, cannot be obtained by June 30, 2008, and WBC is unwilling to extend the merger agreement.

Bob Evans Farms (Nasdaq: BOBE) 17.5% HIGHER; reports Q4 EPS of $0.52, which may not be comparable to the analyst estimate of $0.41. Revenues for the quarter were $436.4 million, versus the consensus of $441.46 million. Sees FY09 EPS of $2.00-$2.10, versus the consensus of $2.02.

Sequenom, Inc. (NASDAQ: SQNM) 16.8% HIGHER; announced positive results from screening studies using its noninvasive circulating cell-free fetal nucleic acid SEQureDx Technology, which enables the detection of fetal aneuploidy, including Down syndrome from maternal blood.

Royale Energy (Nasdaq: ROYL) 15% LOWER; with shares of Royale up more than 300% year-to-date and about 90% in only 2 days of trading this week, today's move appears to be a slight correction from this drastic run-up.

Guess? (NYSE: GES) 13.4% HIGHER; reports Q1 EPS of $0.51, 5 cents better than the analyst estimate of $0.46. Revenues for the quarter were $489.2 million, versus the consensus of $451.59 million. Boosts FY08 EPS from $2.40 to $2.48 versus consensus of $2.44

SunOpta (Nasdaq: STKL) 13.4% HIGHER; shares are climbing sharply today despite no company specific news. Despite today's move and a 40% move off its 52-week low, the stock is still down more than 40% year-to-date.

FirstFed Financial (NYSE: FED) 13% HIGHER; after the close Friday, JANA Partners, in a 13G filing, disclosed a 9.9% stake in FED. Shares failed to move on Monday or Tuesday, but are spiking today. With about 77% of its float shorted at the beginning of May, today's move could be the result of a short squeeze.

Koppers Holdings (NYSE: KOP) 12% HIGHER; UBS upgrades Koppers from Neutral to Buy. Price target $51.

Cortex Pharmaceuticals (AMEX: COR) 11.5% LOWER; this morning, shares spiked about 19% from yesterday's close, but have since plummeted, marking a more than 30% swing in prices intraday.

Western Refining (NYSE: WNR) 10.2% LOWER; following yesterdays 14% intraday climb, the stock closed up only about 4.6%. Yesterday's move appears to have marked a near-term top considering shares have double since the beginning of May. Western Refining stock has already traded more than its average daily volume by just after noon.

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