Unusual 11 Mid-Day Movers 10/19: FIGI, IPCS, BEST, AMPL Higher; FNM, FRE, IDCC, PETS Lower

October 19, 2009 1:54 PM EDT

Fortress International Group, Inc. (NASDAQ: FIGI) 90.5% HIGHER; announced that it has been awarded six contracts totaling approximately $39.4 million spanning all three of its divisions -- technology consulting, construction management and facilities management. Including the new project awards, Fortress International has closed $46.5 million in new business since the end of the second quarter. Click here for the full report.

iPCS (NASDAQ: IPCS) 33.6% HIGHER; Sprint Nextel (NYSE: S) to acquire IPCS, Inc. today announced an agreement for Sprint Nextel to acquire for approximately $831 million, including the assumption of $405 million of net debt. Click here to see more details.

Shiner International, Inc. (Nasdaq: BEST) 22.9% HIGHER; today announced that it has entered into a new contract with Shineway Group, the largest meat product manufacturer in China. Shiner believes that this contact has the potential of contributing up to RMB4,000,000, (approximately $586,000) monthly to its coated food safe packaging sales.

Ampal-American Israel Corporation (Nasdaq: AMPL) 19.1% HIGHER; announced this morning that it has been advised by East Mediterranean Gas Co., in which Ampal has a 12.5% interest, that EMG signed three Gas Sale Agreements with respect to three combined cycle cogeneration plants with a total production capacity of 270 Megawatts.

Allion Healthcare, Inc. (NASDAQ: ALLI) 18.9% HIGHER; today announced that it has entered into a definitive merger agreement to be acquired and taken private by an affiliate of H.I.G. Capital, LLC, a leading global private investment firm, in a transaction valued at approximately $278 million, including the assumption or repayment of approximately $79 million of indebtedness. The agreement was unanimously approved by Allion's Board of Directors, including a Special Committee of independent directors. Under the terms of the agreement, Allion stockholders would receive $6.60 per share in cash, representing a premium of 30.2 percent over Allion's average share price for the five trading days prior to the execution and public announcement of the transaction.

Fannie Mae (NYSE: FNM) 17.1% LOWER; downgraded to Underperform at Keefe, Bruyette, and Woods, also setting a $0 price target. Click here for the full report.

Freddie Mac (NYSE: FRE) 16.9% LOWER; see Fannie Mae.

InterDigital, Inc. (NASDAQ: IDCC) 16.6% LOWER; late Friday announced that, in the U.S. International Trade Commission investigation initiated by InterDigital against Nokia, the Commission issued a notice that it reviewed in part the Initial Determination by the Chief Administrative Law Judge and found no violation of Section 337 and has terminated the investigation.

Focus Media (Nasdaq: FMCN) 13.8% HIGHER; upgraded from Equal Weight to Overweight at Morgan Stanley.

PetMed Express Inc. (Nasdaq: PETS) 11.3% LOWER; reports Q2 EPS of $0.28, in-line with the analyst estimate of $0.28. Revenue for the quarter were up 5% to $62.4 million, which compares to the estimate of $66.03 million.

Jaco Electronics, Inc. (Nasdaq: JACO) 10% LOWER; late Friday announced that it intends to file an application on Form 25 with the SEC to voluntarily withdraw its common shares from listing on The Nasdaq Stock Market's Global Market.

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