Morning Movers 9/10: DVAX, DARA, GNBT, XRTX, NCS Higher; PLAB, SEH, NAV Lower

September 10, 2009 9:59 AM EDT

Dynavax Technologies Corporation (Nasdaq: DVAX) 83.4% HIGHER; announced that the U.S. FDA has removed the clinical hold for the HEPLISAVTM Investigational New Drug application in individuals with chronic kidney disease. HEPLISAV is a Phase 3 investigational adult hepatitis B vaccine designed to provide increased, rapid protection with fewer doses than current licensed vaccines.

DARA BioSciences, Inc. (Nasdaq: DARA) 57.3% HIGHER; today that SurgiVision, Inc., a privately held company of which DARA owns approximately 7.3% of the outstanding shares, has entered into an agreement with Siemens Healthcare, a division of Siemens AG (NYSE: SI) for the co-development and commercialization of a real-time magnetic resonance image (MRI)-guided cardiac electrophysiology system.

Generex Biotechnology Corporation (Nasdaq: GNBT) 41.2% HIGHER; today announced that the U.S. FDA has granted approval for the treatment use of Generex Oral-lyn(tm) under the FDA's Treatment Investigational New Drug program. Click here for the full report.

Xyratex Ltd. (Nasdaq: XRTX) 25.5% HIGHER; reports Q3 preliminary sales of about $247 million, versus the consensus of $214.34 million.

NCI Building Systems, Inc. (NYSE: NCS) 25.4% HIGHER; reports Q3 adj-EPS of $0.25, versus the analyst estimate of $0.11. Revenue for the quarter was $238.4 million, versus the consensus of $263.06 million.

Photronics, Inc. (Nasdaq: PLAB) 17.5% LOWER; intends to offer, subject to market and other considerations, 6,275,000 shares of its common stock and $50,000,000 aggregate principal amount of convertible senior notes maturing in 2014. Photronics intends to use the net proceeds from these offerings to repay a portion of its outstanding bank borrowings.

Spartech Corporation (NYSE: SEH) 13.9% LOWER; reported Q3 EPS of $0.18, ex-restructuring and exit costs, versus the consensus of $0.16. Net sales fell 30% to $241.7 million.

CytRx Corporation (NASDAQ: CYTR) 13% HIGHER; announced that it has been granted a key patent by the European Patent Office that covers through 2024 the use of its orally available molecular chaperone amplifier drug candidate arimoclomol for the treatment or prevention of neurodegenerative diseases of the central nervous system. The granted patent (EP1696922) broadens CytRx's existing coverage in the EU for arimoclomol that includes composition of matter claims.

Oculus Innovative Sciences (Nasdaq: OCLS) 12.8% HIGHER; announced that Noridian Administrative Services LLC, which is the pricing, data analysis and coding contractor for the Medicare program with respect to durable medical equipment, prosthetics, orthotics, and medical supplies, has assigned a Medicare HCPCS code for Oculus' recently introduced Microcyn Skin & Wound HydroGel.

UAL Corp (NASDAQ: UAUA) 12.4% HIGHER; JP Morgan upgrades their sector view from Neutral to Overweight. Click here for the full report.

Coffee Holding Co., Inc. (AMEX: JVA) 10.9% HIGHER; is moving higher after the company reporting that net income for the three months ended July 31 rose 45.1% to to $799,760, or $0.15 per share. Net sales totaled $17,289,305 for the three months ended July 31, 2009, a decrease of $309,267, or 1.8%.

Smith & Wesson Holding Corporation (Nasdaq: SWHC) 9% HIGHER; reports Q1 EPS of $0.16, 6 cents better than the analyst estimate of $0.10. Revenue for the quarter was $102.2 million, versus the consensus of $94.07 million. Based on current visibility, SWHC expects total company sales for Q2 will be between $103 million and $105 million versus consensus of $99.76 million.

Navistar International Corp. (NYSE: NAV) 8.9% LOWER; reports Q3 loss of $0.16, which does not compare to the analyst estimate of $0.70. Revenue for the quarter was $2.51 billion, versus the consensus of $2.67 billion. Lowers its FY09 EPS, excluding the Ford settlement, from $2.80-$3.10 to $2.55-$2.85, versus the consensus of $2.92. An an unadjusted basis, the company sees FY09 EPS of $4.95-$5.25.

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