Unusual 11 Mid-Day Movers 11/10: CYCL, STEM, DPTR, GSI Higher; DFT, SRZ, ACAS, ALD Lower

November 10, 2008 11:26 AM EST

Centennial Communications Corp. (Nasdaq: CYCL) 103% HIGHER; AT&T Inc. (NYSE: T) announced an agreement to acquire Centennial Communications for $944 million in cash or $8.50 per share.

DuPont Fabros Technology (NYSE: DFT) 32% LOWER; on Thursday of last week the company reported soft Q3 earnings, causing the stock to fall about 44%. Today shares of DuPont Fabros are declining on the back of a UBS downgrade. The firm took its rating on DuPont Fabros from Buy to Neutral.

StemCells Inc (Nasdaq: STEM) 31.5% HIGHER; reports President-elect Barack Obama will allow federal funding of stem-cell research.

Sunrise Senior Living (NYSE: SRZ) 31.5% LOWER; after reporting disappointing Q3 results on Friday before the market opened, the stock fell more than 28% and today continues sliding.

American Capital, Ltd. (Nasdaq: ACAS) 30.8% LOWER; reports Q3 EPS of $0.74, 5 cents better than the analyst estimate of $0.69. Also announced that it has agreed to acquire European Capital and as a result, will need to suspend its quarterly dividend payments.

Allied Capital Corporation (NYSE: ALD) 29.5% LOWER; reports Q3 EPS of $0.35, in-line with the analyst estimate of $0.35. Revenue for the quarter was $120.66 million, versus the consensus of $132.66 million.

Discovery Laboratories Inc. (Nasdaq: DSCO) 25% LOWER; FDA Establishes Prescription Drug User Free Act date of April 17, 2009.

Delta Petroleum (Nasdaq: DPTR) 22.4% HIGHER; after falling more than 22% on Friday amid news that Kirk Kerkorian's Tracinda would not proceed with its tender offer for Delta, the stock is correcting today despite no new developments.

General Steel Holdings (NYSE: GSI) 21% HIGHER; headquarter in Beijing, General Steel is benefiting from China's newly announced $586 billion economic stimulus package. The China plan equals about one-fifth of the country's GDP last year and will be used by the end of 2010. Commodity stocks are trading materially higher across the board on the news.

Pike Electric Corporation (NYSE: PEC) 18.5% HIGHER; reports Q1 EPS of $0.54, which may not compare to the analyst estimate of $0.17. Revenue for the quarter was $185.5 million, versus the consensus of $161.71 million. Raises its FY09 EPS guidance from $0.55-$0.65 to $0.85-$0.95, versus the consensus of $0.65.

American International Group (NYSE: AIG) 16.2% HIGHER; The U.S. Treasury on Monday announced that it will purchase $40 billion of newly issued AIG preferred shares under the Troubled Asset Relief Program. This purchase will allow the Federal Reserve to reduce from $85 billion to $60 billion the total amount available under the credit facility established by the Federal Reserve Bank of New York on September 16, 2008.

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

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