Unusual 11 Mid-Day Movers 4/22: RCRC, FRZ, AAI, PFCB Higher; LUNA, PPDI, VOCS, ICLR Lower

April 22, 2009 12:58 PM EDT

RC2 Corp. (Nasdaq: RCRC) 52.3% HIGHER; reports Q1 loss of $0.11, versus the analyst estimate of ($0.02). Revenue for the quarter was $86.3 million, versus the consensus of $82.22 million. Sees FY09 EPS about $1.35 versus consensus of $1.28.

Luna Innovations (Nasdaq: LUNA) 29% LOWER; yesterday, in Santa Clara County's Superior Court, Hansen Medical (Nasdaq: HNSN) received a jury verdict in its lawsuit against Luna. The jury awarded Hansen approximately $36.3 million in damages, finding in favor of Hansen on its breach of contract, breach of the covenant of good faith and fair dealing, and misappropriation of trade secrets claims against Luna.

Reddy Ice Holdings (NYSE: FRZ) 26% HIGHER; after surging more than 55% yesterday, technical traders are continuing to buy the stock as its price has jumped over the $3 level today. Shares are once again seeing heavy volume: has already traded 600,000 times which compares to its average daily volume of just 125,000 shares.

Airtran Holdings (NYSE: AAI) 25.5% HIGHER; reports Q1 EPS of $0.20, 16 cents better than the analyst estimate of $0.04. Airtran Holdings revenue for the quarter was $541.95 million, versus the consensus of $535.48 million.

PF Chang's (Nasdaq: PFCB) 23.4% HIGHER; reports Q1 earnings of $0.56 per share, above the consensus of $0.33. Revenues came in at $309.8 million, versus the consensus of $305.1 million. PF Chang's sees FY09 EPS of $1.45-$1.50 versus the consensus of $1.23.

Temple-Inland Inc. (NYSE: TIN) 22.5% HIGHER; reports Q1 EPS of $0.30, versus the analyst estimate of $0.05. Revenue for the quarter was $941 million, versus the consensus of $913.06 million.

Diedrich Coffee, Inc. (Nasdaq: DDRX) 20.3% HIGHER; upside momentum is continuing in this name today following its Q3 earnings report yesterday. DDRX reported a gain of $0.25 during the quarter, much better than the analyst estimates which were set at a loss of $0.39. The stock more than doubled on the results yesterday.

PPD, Inc. (Nasdaq: PPDI) 15.5% LOWER; reports Q1 EPS of $0.38, 1 cent lower than the analyst estimate of $0.39. Revenue for the quarter was $364.9 million, versus the consensus of $365.30 million. Lowers FY09 sales guidance from $1.595-$1.67 billion to $1.395-$1.47 billion, versus the consensus of $1.60 billion, with EPS moving from $1.95-$2.05 to $1.54-$1.60, which compares to the Street estimate of $1.82.

Vocus (Nasdaq: VOCS) 15.2% LOWER; reports Q1 EPS of $0.15, ex-items, 1 cent better than the analyst estimate of $0.14. Revenue for the quarter was $20.41 million, versus the consensus of $20.57 million. Sees Q2 sales of $20.6-$20.8 million, with non-GAAP EPS of $0.15-$0.16. For FY09, Vocus revised its sales and EPS outlook to $84-$85 million and $0.63-$0.65, respectively. The Street is currently looking for Q2 adj-EPS of $0.15 and FY09 adj-EPS of $0.63. The stock was also downgraded to Neutral by Broadpoint.AmTech.

ICON plc (Nasdaq: ICLR) 14.5% LOWER; shares of ICON are continuing lower today following news Tuesday morning that Kendle (Nasdaq: KNDL) will not meet analyst estimates this quarter. Shares of ICON have fallen more than 25% in the last 2 days of trading.

KeyCorp (NYSE: KEY) 13.1% LOWER; reports a Q1 loss of $1.09 per share, which includes items and does not compare to the consensus of a $0.21 loss. Revenues came in at $1.11 billion, versus the consensus of $1.12 billion. Q1 loan loss reserve increased by $383 million to $2.186 billion. KeyCorp also cut its quarterly dividend from $0.0625 to $0.01 per share. The stock was also downgraded to Hold at Citi.

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

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