Morning Movers 12/22: CICC, AAC, WAVE, ATHX, YRCW, SHS, ADES Higher; GIGM, CMC Lower

December 22, 2009 10:45 AM EST

China Infrastructure Investment Corp. (Nasdaq: CIIC) 120.6% HIGHER; sky-rocketing today amid no news. Volume is already about 7x normal volume today.

Ableauctions.com Inc. (AMEX: AAC) 44.4% HIGHER; announced today that its board of directors has declared a cash distribution on its common stock of $0.55 per share (for a total of approximately $4.5 million) and has established December 30, 2009 as the record date for this distribution and for determining the stockholders who will be entitled to receive distributions from the liquidating entity that is to be established in conjunction with the Company's acquisition of Top Favour Limited (SinoCoking), if the acquisition is approved.

NextWave Wireless Inc. (NASDAQ: WAVE) 40% HIGHER; NextWave's PacketVideo today announced that its TwonkyMedia(TM) server software has successfully completed the highest standards of compatibility, reliability and performance testing to obtain the "Compatible with Windows 7" logo from Microsoft Corp. TwonkyMedia server now integrates seamlessly with Windows 7, marking a major milestone for the solution that has been adopted by dozens of leading consumer electronics manufacturers to enable digital media sharing on compatible home and mobile devices.

Athersys, Inc. (Nasdaq: ATHX) 35% HIGHER; continuing sharply higher once again today following yesterday's news of an agreement with Pfizer to develop and commercialize investigational stem cell therapy MultiStem for the treatment of Inflammatory Bowel Disease. The stock soared more than 140% yesterday. Today we have an analyst from WBB Securities upgrading the stock and saying it could goto $8.

YRC Worldwide Inc. (NASDAQ: YRCW) 22.5% HIGHER; announced today that it has satisfied certain requirements related to its previously announced debt-for-equity exchange offers.

Sauer-Danfoss Inc. (NYSE: SHS) 21.7% HIGHER; Danfoss A/S announced today that, through its wholly owned subsidiary Danfoss Acquisition, Inc., it intends to launch a cash tender offer for all of the outstanding shares of Sauer-Danfoss common stock of not already owned by Danfoss and its subsidiaries. Danfoss and its subsidiaries currently own a stake of approximately 75.7% in Sauer-Danfoss. Danfoss intends to offer the public minority shareholders of Sauer-Danfoss $10.10 per share in cash, without interest and less any required withholding tax.

ADA-ES, Inc. (NASDAQ: ADES) 20.9% HIGHER; ADA Carbon Solutions, LLC, the joint venture owned by ADA-ES and Energy Capital Partners, today announced that it has signed two contracts with coal-fired power companies to provide activated carbon to control mercury emissions. ACS will supply these power plant customers with approximately 25 to 30 million pounds of AC under these contracts.

Atlas Pipeline Holdings (NYSE: AHD) 18.5% HIGHER; Citi upgrades the stock from Sell to Hold. Price target $6.

Clarient, Inc. (NASDAQ: CLRT) 12.1% HIGHER; today announced that it has acquired privately held, Huntsville, AL-based Applied Genomics, Inc. in an all-stock merger valued at up to $17.6 million, if all conditions and milestones set forth in the merger agreement are successfully met. As a result of the merger, AGI has become a wholly-owned subsidiary of Clarient.

The Steak n Shake Company (NYSE: SNS) 11.3% HIGHER; announced today its intent to acquire 100% of the issued and outstanding shares of common stock of Fremont Michigan InsuraCorp, Inc. that it does not already own, through an appropriate acquisition entity for $24.50 per share. 50% of the Purchase Price would be paid in cash, and 50% would be paid in shares of the common stock of Steak n Shake.

EnerNOC (Nasdaq: ENOC) 10.8% HIGHER; Bank of America initiates coverage on with a Buy rating. Price target $40.

APAC Customer Services (Nasdaq: APAC) 9.2% HIGHER; BGB Securities initiates coverage on the stock with a Buy rating.

GigaMedia (Nasdaq: GIGM) 8.8% LOWER; continuing lower following soft Q3 results yesterday. The stock fell more than 14% on Monday. Roth Capital and ThinkEquity both downgraded the stock to Hold this morning.

Amkor Technology, Inc. (NASDAQ: AMKR) 8.5% HIGHER; today updated its outlook for certain financial information for the fourth quarter ended December 31, 2009. "Due to higher than expected customer demand across our product lines, net sales for the fourth quarter are expected to be up around 6% from the third quarter of 2009, representing an improvement over our previous guidance of flat, plus or minus 2%," said Ken Joyce, Amkor's President and Chief Executive Officer. The company also expects gross margin for the fourth quarter to be around 26%. The expected gross margin is higher than the company's previous guidance of 23% to 25%, primarily as a result of the expected improved level of net sales.

Commercial Metals Company (NYSE: CMC) 8.3% LOWER; reports Q1 loss of $0.28, versus the analyst estimate of ($0.04). Revenue for the quarter was $1.45 billion, which compares to the estimate of $1.46 billion.

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