Unusual 11 Mid-Day Movers 11/17: GTE, CTS, PHH, ARTG Higher; UTHR, DFT, BIDU, HIG Lower

November 17, 2008 1:50 PM EST

United Therapeutics Corp. (Nasdaq: UTHR) 33.6% LOWER; announced that a FREEDOM-C trial of oral Treprostinil in pulmonary arterial hypertension failed to meet its primary endpoint. Deutsche Bank also downgraded the stock from Buy to Hold earlier.

DuPont Fabros Technology, Inc. (NYSE: DFT) 27% LOWER; today announced a temporary suspension of development at data center facilities ACC5 in Ashburn Virginia and NJ1 in Piscataway, New Jersey as the Company continues to seek additional financing to fund development at these sites.

Gran Tierra Energy (AMEX: GTE) 25.8% HIGHER; Friday after the close, Gran Tierra and Solana Resources Limited announced that they have completed the business combination of Gran Tierra and Solana.

Baidu.com (Nasdaq: BIDU) 23.2% LOWER; hearing reports that Baidu has stopped listing pharmaceutical companies that lack the necessary licenses to market drugs in its search results. Over the weekend, a popular Chinese news program, "News in 30 Minutes", alleged that by showing information for companies without proper SFDA licenses, Baidu is committing fraud.

CTS Corp. (NYSE: CTS) 22.5% HIGHER; JPMorgan upgrades the stock from Underweight to Neutral.

The Hartford Financial Services Group, Inc. (NYSE: HIG) 18.4% LOWER; Federal Trust Corporation announced Friday that it has entered into a definitive merger agreement with Hartford. The terms of the agreement call for stockholders of the Company to receive $1.00 for each share of Company stock they own. The transaction is valued at approximately $10 million. The Hartford will also provide an additional amount to recapitalize Federal Trust Bank, a wholly owned subsidiary of the Company.

PHH Corp. (NYSE: PHH) 16.3% HIGHER; following a rough week last week (down 30%), shares are correcting this week. Late Friday, in Daniel Loeb's 13F for his firm, Third Point, the fund-manager disclosed that he maintained a 2 million share stake in PHH.

Art Technology (Nasdaq: ARTG) 15.9% HIGHER; launched its ATG Commercie Suite 9. Also unveiled its eStara Video Connect, an addition to its eStara Connections product line that transforms passive video advertisements into active, revenue and lead-generation tools by enabling consumers to instantly 'take action' while watching video ads.

Alliance Data Systems Corporation (NYSE: ADS) 14.1% LOWER; World Financial Network National Bank, a unit of Alliance Data Systems, today announced the completion of its acquisition of Charming Shoppes (Nasdaq: CHRS) misses catalog credit receivables for $43.3 million.

Amylin Pharmaceuticals (Nasdaq: AMLN) 12.5% HIGHER; IMS Health data showed an uptick in prescriptions of its beleaguered diabetes treatment Byetta. Could also be seeing upside following Carl Icahn's 13F for Icahn Capital which disclosed he raised his stake in Amylin from 6.79 million shares to 10.72 million shares.

Level 3 Communications (Nasdaq: LVLT) 11.5% HIGHER; announced today that it has reached agreements to sell up to $400 million aggregate principal amount of its 15% convertible senior notes due 2013. Level 3 intends to use the net proceeds from the offering of the notes, together with cash on hand, to fund purchases of any and all of its (i) 2.875% Convertible Senior Notes due 2010, (ii) 6% Convertible Subordinated Notes due 2010 and (iii) 6% Convertible Subordinated Notes due 2009, pursuant to three separate tender offers for such notes that Level 3 commenced today.

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• Daniel Loeb
• Carl Icahn
• Deutsche Bank
• JPMorgan
• Third Point LLC
• Unusual 11 Mid-Day Movers

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