Morning Movers 8/27: SFE, NYFX, IMMU, CPWM, ZHNE Higher; NCS, WAVE, FXEN, GRVY, CONN, SIGM Lower

August 27, 2009 10:06 AM EDT

Safeguard Scientifics, Inc. (NYSE: SFE) 524% HIGHER; announced that it has sold 16 million shares of its position in portfolio company Clarient, Inc. (Nasdaq: CLRT) through a Clarient shelf registration on Form S-3 that was declared effective by the Securities and Exchange Commission on August 20, 2009.

NYFIX, Inc. (Nasdaq: NYFX) 90.7% HIGHER; NYSE Euronext (NYSE: NYX) announced today it has entered into a definitive agreement to acquire, through NYSE Technologies, Inc., its indirect, wholly-owned subsidiary, NYFIX, in an all-cash deal for $1.675 per share of common stock. The total value of the deal is approximately $144 million, including preferred stock consideration. Click here for the full report.

Immunomedics (Nasdaq: IMMU) 48.7% HIGHER; UCB and Immunomedics announced top-line results from UCB's phase IIb clinical study comparing epratuzumab to placebo in patients with systemic lupus erythematosus (SLE, also commonly known as lupus). The data from the 12-week dose and regimen-ranging study demonstrated clinical meaningful treatment effect of epratuzumab over placebo in SLE patients. The 227 patients in this study had moderately (30%) to severely (70%) active disease in multiple organ systems.

NCI Building Systems, Inc. (NYSE: NCS) 32.5% LOWER; today announced that it has obtained an extension of the waivers granted by its senior credit facility lenders on May 20, 2009. Under the extension, the waivers of the Company's compliance with its financial maintenance covenants and the waivers of its restrictions on entering into an agreement for a substantial equity investment in the Company continue until November 6, 2009. Previously, these waivers had been in effect through August 14, 2009 with an automatic extension to September 15, 2009 upon the signing of a definitive agreement for an equity investment.

Cost Plus (Nasdaq: CPWM) 29.4% HIGHER; trading sharply higher ahead of its Q2 results, which are expected out after the close today.

Nextwave Wireless (Nasdaq: WAVE) 29.2% LOWER; correcting today after yesterday's 245% rise on no news.

Zhone Technologies (Nasdaq: ZHNE) 25.8% HIGHER; continuing higher today following yesterday's late-day 29% rally. Not hearing any company-specific news.

FX Energy, Inc. (Nasdaq: FXEN) 22.9% LOWER; reported that drilling operations at the Ostrowiec-1 wildcat well have stopped and the well will be plugged and abandoned. The decision not to continue drilling was made after the well encountered extremely high pressure non-flammable nitrogen gas with 4.6% hydrogen sulfide content and lost circulation while coring the Main Dolomite Ca2 target reservoir. During efforts to control the inflow of gas nearly 1.6 million pounds of mud were lost into the formation. The Ostrowiec-1 well is owned 49% by the Polish Oil and Gas Company and 51% by FX Energy.

GRAVITY Co., Ltd. (Nasdaq: GRVY) 19.6% LOWER; reports Q2 EPS of $0.06. Revenue for the quarter was $11.45 million.

Conn's (Nasdaq: CONN) 13.5% LOWER; reports Q2 EPS of $0.22, 11 cents below the analyst estimate of $0.33. Revenue for the quarter was $220.2 million, versus the consensus of $221.23 million. Revises guidance for fiscal year 2010 to $1.40 to $1.60 versus consensus of $1.64.

Sigma Designs Inc. (Nasdaq: SIGM) 11.7% LOWER; reports Q2 EPS of $0.28, ex-items, in-line with the analyst estimate of $0.28. Revenue for the quarter was $51.3 million, versus the consensus of $51.48 million. Collins Stewart also downgraded the stock to Hold.

Alkermes (Nasdaq: ALKS) 11.5% LOWER; Jefferies & Co downgrades from Buy to Hold. Price target lowered to $11.50.

Oshkosh Corporation (NYSE: OSK) 8.6% HIGHER; Oshkosh Defense, a division of Oshkosh Corp., has been awarded a contract by the U.S. Army Tank-automotive and Armaments Command Life Cycle Management Command for the U.S. Army's Family of Medium Tactical Vehicles rebuy program. The FMTV rebuy program is a five-year, indefinite delivery/indefinite quantity contract award for the production of up to 23,000 vehicles and trailers as well as support services and engineering. The FMTV is a series of up to 23 variant vehicles and 17 different models ranging from 2.5 ton to 5 ton payloads. The contract's first delivery order is valued at $280.9 million for the production and delivery of 2,568 trucks and trailers. Initial test vehicle deliveries are planned for mid-2010, followed by production vehicle deliveries later in the year.

Precision Castparts Corp. (NYSE: PCP) 8.2% HIGHER; has agreed to acquire Carlton Forge Works and related entities for $850 million.

Astronics Corp. (Nasdaq: ATRO) 8% LOWER; downgraded to Sell at Jesup & Lamont.

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