Unusual 11 Mid-Day Movers 11/12: LEA, HTX, MELI, CNQR Higher; STEM, KHD, SOL, PLD Lower

November 12, 2008 12:55 PM EST

StemCells, Inc. (NASDAQ: STEM) 41.6% LOWER; has entered into agreements to raise approximately $20 million in gross proceeds through the sale of approximately 13.8 million shares of its common stock to selected institutional investors at a price of $1.45 per share. The investors will also receive warrants to purchase approximately 10.3 million shares of common stock at an exercise price of $2.30 per share. The shares and warrants are being offered as a registered direct offering under the Company’s effective shelf registration statement previously filed with the Securities and Exchange Commission (SEC). StemCells, Inc. expects to receive total proceeds, net of offering expenses and placement agency fees, of approximately $18.5 million.

KHD Humboldt Wedag International Ltd. (NYSE: KHD) 34.8% LOWER; reports Q3 EPS of $1.01, which may not compare to the analyst estimate of $0.55. Revenue for the quarter was $193.6 million, versus the consensus of $166.06 million. While the company reported solid earnings, it gave a concerning outlook.

ReneSola (NYSE: SOL) 32.6% LOWER; as a top supplier of solar wafers to JA Solar (Nasdaq: JASO), ReneSola's stock is slumping today on worse-than-expected earnings from JA. JA reported Q3 EPS of $0.26, ex-items, below the consensus of $0.27. The company sees Q4 EPS of breakeven, versus the consensus of $0.30. Sees Q4 revenues of $191.5-$220.9 million, versus the consensus of $371.39 million. JA Solar sees FY09 GAAP EPS of $0.90, which may not compare to the consensus of $1.27. Sees FY09 revenues of $1.5-$1.7 billion, versus the consensus of $1.73 billion.

ProLogis (NYSE: PLD) 30.7% LOWER; announced that Jeffrey Schwartz has resigned as the company's chairman and CEO. Separately, ProLogis announced a 52% reduction in its annual dividend from $2.28 to $1.00 per common share. The company also said that in response to the tough economic climate, over the near term it will reduce G&A spending by 20-25% through a combination of a reduction in workforce and cutting of business spending.

American Apparel (NYSE: APP) 30.7% LOWER; tumbling today following allegations that the company's CEO held staff meetings completely nude. A former IT support worker for American Apparel is now reportedly suing the company. While the company has issued a statement saying the claims are "baseless and frivolous", investors are continuing to sell the stock today.

Lear Corp. (NYSE: LEA) 17% HIGHER; is seeing more insider buying today. The company's Chairman/CEO, Robert Rossiter disclosed that he bought another 100,000 shares on 11/11 at $1.40, bringing his stake to 406,879 shares. He bought 225,000 shares on 11/7. In addition, Officer Louis Salvatore bought 34,500 shares on 11/11 at $1.42-$1.44.

Hutchison Telecommunications International Limited (NYSE: HTX) 15.4% HIGHER; declared a special cash dividend of HK$7 per share or approximately US$13.55 per ADS, totalling approximately $4.35 billion.

MercadoLibre (Nasdaq: MELI) 15% HIGHER; reports Q3 EPS of $0.14, 2 cents better than the analyst estimate of $0.12. Revenue for the quarter was $40.3 million, versus the consensus of $37.85 million.

Concur Technologies (Nasdaq: CNQR) 13.5% HIGHER; reports Q4 EPS of $0.11, 3 cents lower than the analyst estimate of $0.14. Revenue for the quarter was $57.5 million, versus the consensus of $56.62 million. Sees Q1 sales of about $58 million and FY09 sales of about $269 million. The Street is currently estimate Q1 sales of $59.8 million and FY09 sales of $264.41 million. Non-GAAP pre-tax EPS for Q1 are expected to be about $0.20, while FY09 non-GAAP pre-tax EPS are expected to be about $1.11.

The Scotts Miracle-Gro Company (NYSE: SMG) 10.7% HIGHER; announced today it is in discussions with several of its largest retail partners in the United States to provide private label lawn fertilizer and growing media products for fiscal 2009 and possibly beyond. The company reaffirmed its FY09 adj-EPS guidance of about $2.00. The Street is currently estimating FY09 EPS of $2.02.

General Motors (NYSE: GM) 8.4% HIGHER; based on today's price action, investors are betting (hoping) that the government bailout will save common shareholders.

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