Unusual 11 Mid-Day Movers 7/11: HPC, DTPI, HYGS, SPSN Higher; RDN, TUES, FNM, FRE Lower

July 11, 2008 12:20 PM EDT

StreetInsider.com Unusual 11 Mid-Day Movers:

Radian Group (NYSE: RDN) 28.6% LOWER; shares gained more than 60% on Monday and Tuesday of this week, but have since sold: the stock is now at the same level as it was to begin this week's trading.

Hercules Inc. (NYSE: HPC) 24% HIGHER; Ashland Inc. (NYSE: ASH) acquires the company for $18.60 per share in cash and 0.093 of a share of Ashland common stock for each share of Hercules common stock. The total transaction value is approximately $3.3 billion, or $23.01 per Hercules share based on Ashland's July 10 closing stock price.

Tuesday Morning (NASDAQ: TUES) 23.3% LOWER; Deutsche Bank downgrades Tuesday Morning from Hold to Sell and lowers their price target from $4.30 to $3.40. The downgrade is certainly adding to downside after yesterday's weak same store sales announcement.

Fannie Mae (NYSE: FNM) 22.4% LOWER; very loud talk that the U.S. will bailout the company.

Freddie Mac (NYSE: FRE) 22% LOWER; very loud talk that the U.S. will bailout the company.

PMI Group (NYSE: PMI) 21.9% LOWER; the entire insurance industry is taking a dive today on the back of rampant speculation in regards to Fannie and Freddie.

Diamond Management & Technology Consultants, Inc. (Nasdaq: DTPI) 21.1% HIGHER; raised its Q1 sales guidance from $36-$38 million to $38.2-$38.8 million and GAAP EPS from ($0.03)-($0.08) to $0.02-$0.03. The Street estimates are for sales of $36.79 million and EPS of ($0.06).

Hydrogenics Corporation (NASDAQ: HYGS) 12.6% HIGHER; today announced that it has been selected to provide a hydrogen electrolyzer and fuel cell for the new Renewable Hydrogen Research and Demonstration Centre at the Baglan Energy Park.

Spansion (Nasdaq: SPSN) 11.8% HIGHER; Caris & Co. initiates coverage on Spansion with a Buy rating. With about 14% of its float shorted at the beginning of July, today's positive note from Caris could have sparked a short-covering rally.

Momenta Pharmaceuticals, Inc. (Nasdaq: MNTA) 11.4% HIGHER; today announced that the U.S. FDA has accepted for review the Abbreviated New Drug Application for a generic version of Copaxone(r).

Hyperdynamics Corporation (AMEX: HDY) 10.9% HIGHER; today announced that its Louisiana based oil production operations reported gross oil sales of approximately 15,592 barrels for its Q4. The Company's revenue derived from this production is approximately $1.26 million. This sets a new production record and represents the highest quarterly revenue ever for the company.

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