Morning Movers 6/4: WIND, NVAX, OCLS, AGEN, CONN, ATSI Higher; OMEX, BGP, CODI, GU, ANF Lower

June 4, 2009 9:38 AM EDT

Odyssey Marine Exploration, Inc. (Nasdaq: OMEX) 63.8% LOWER; sinking after the U.S. Federal Court Magistrate's recommendation that Spain's Motion to Dismiss the "Black Swan" case be granted and that the property recovered be returned to Spain. Odyssey Marine Exploration plans to file a written objection to the ruling. The recommendation which was filed June 3, 2009 concludes that the court lacks jurisdiction to hear the case.

Wind River Systems Inc (Nasdaq: WIND) 45.6% HIGHER; Intel Corporation (Nasdaq: INTC) has entered into a definitive agreement to acquire Wind River under which Intel will acquire all outstanding Wind River common stock for $11.50 per share in cash, or approximately $884 million in the aggregate.

Novavax, Inc. (Nasdaq: NVAX) 37.4% HIGHER; and the Division of Microbiology and Infectious Diseases of the National Institute of Allergy and Infectious Diseases, National Institutes of Health (NIH) have signed an agreement to cooperate in the evaluation of a virus-like particle vaccine candidate against the novel influenza A (H1N1) virus. Novavax has produced influenza A (H1N1) VLP vaccine against the strain recommended by the Centers for Disease Control and Prevention.

Oculus Innovative Sciences, Inc. (Nasdaq: OCLS) 23.2% HIGHER; announced that it has received an expanded 510(k) label clearance from the FDA to market its Microcyn Skin and Wound Cleanser with preservatives as both a prescription and over-the-counter formulation. The new Rx product is indicated for use by health care professionals to manage the debridement of wounds such as stage I-IV pressure ulcers, diabetic foot ulcers, post-surgical wounds, first- and second-degree wounds, grafted and donor sites.

Antigenics (Nasdaq: AGEN) 16.6% HIGHER; since announcing positive data on Oncophage(R) at ASCO, the stock has surged more than 320%.

Conn's, Inc. (NASDAQ: CONN) 13.4% HIGHER; reports Q1 EPS of $0.47 (ex-items), 3 cents better than estimates. Revenues were $231.3 million vs. $230.37 million consensus. Reaffirms its FY09 outlook.

Borders Group (NYSE: BGP) 13.4% LOWER; correcting today after a 15% jump on the back of a Goldman Sachs price target boost.

Compass Diversified Holdings (Nasdaq: CODI) 12.8% LOWER; announced that it priced a public offering of 5,100,000 trust shares at $8.85 per share, raising $45.1 million in gross proceeds. The underwriters will have a 30-day option to purchase up to an additional 765,000 trust shares from CODI to cover over-allotments. CODI expects to use the net proceeds from the offering for general corporate purposes. The closing is expected to occur on or about June 9, 2009, subject to customary closing conditions.

ATS Medical (Nasdaq: ATSI) 12.5% HIGHER; is participating in the International Society for Minimally Invasive Cardiothoracic Surgery meeting in San Fransisco today.

Gushan Environmental Energy Limited (NYSE: GU) 12.4% LOWER; announced that it has temporarily suspended production at Fujian Gushan Bio-diesel Energy Co., Ltd due to a dispute with a local tax authority concerning consumption tax issues.

AVI BioPharma, Inc. (NASDAQ: AVII) 11.2% HIGHER; and Charley's Fund Inc., a not for profit organization, today announced that AVI and CFI have amended their existing sponsored research agreement to provide for an additional $3 million in sponsored research funds, for a total of $5 million in support of the development of AVI-5038 through to IND. The drug candidate is based on proprietary PPMO chemistry and has the potential to skip exon 50 in certain patients with Duchenne muscular dystrophy. AVI's first contract with the Fund was initiated in October 2007 and partly supported the research that identified AVI-5038.

G-III Apparel Group (Nasdaq: GIII) 11.1% HIGHER; reports Q1 loss of $0.41 versus the analyst estimate of $0.51. Revenue for the quarter was $115.9 million, versus the consensus of $103.77 million. Sees Q2 loss of 28c to 32c versus loss of 30 cents. Sees Q2 sales $135M versus $130.7 million.

Multimedia Games (Nasdaq: MGAM) 10.2% HIGHER; shares are continuing higher today following news Tuesday night that it has received a 7-year extension on a contract with the New York Lottery. Since May 18, shares of MGAM have nearly doubled.

Sycamore (Nasdaq: SCMR) 10.1% HIGHER; reports Q3 EPS of $0.00, 3 cents better than the analyst estimate of ($0.03). Revenue for the quarter was $22.98 million, versus the consensus of $11 million.

Bio-Reference Laboratories, Inc. (NASDAQ: BRLI) 9.1% HIGHER; reports Q2 EPS of $0.33, 5 cents better than the analyst estimate of $0.28. Revenue for the quarter was $87.18 million, versus the consensus of $83.20 million.

Abercrombie & Fitch (NYSE: ANF) 8.7% LOWER; reports sales for the month of May fell 22% from $182.1 million. Same store sales for the period fell 28%.

UTi Worldwide (Nasdaq: UTIW) 8.3% LOWER; reports Q1 EPS of $0.10, 4 cents below the analyst estimate of $0.14. Revenue for the quarter was $768.4 million, versus the consensus of $937.78 million.

Cyberonics (Nasdaq: CYBX) 8.2% HIGHER; reports Q4 EPS of $0.22, 4 cents better than the analyst estimate of $0.18. Revenue for the quarter was $38.6 million, versus the consensus of $37.66 million. Sees FY10 sales of $157-$161 million, versus the consensus of $156.40 million.

Axsys Technologies, Inc., (Nasdaq: AXYS) 5.5% HIGHER; General Dynamics Advanced Information Systems, a business unit of General Dynamics (NYSE: GD), has entered into a definitive agreement to acquire Axsys Technologies for $54 per share of Axsys Technologies' outstanding common stock. The cost of the transaction would be $643 million.

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