Unusual 11 Mid-Day Movers 6/12: SVNT, APPY, WH, ETFC Higher; HOKU, CBT, EZPW, STAA Lower

June 12, 2009 12:35 PM EDT

Savient Pharmaceuticals (Nasdaq: SVNT) 51.6% HIGHER; a recent note from Wedbush Morgan said they expect an FDA Advisory Committee to recommend approval of KRYSTEXXA in refractory gout on June 16. The firm set a $15 price target.

AspenBio Pharma (Nasdaq: APPY) 34.7% HIGHER; shares have jumped about 9% over the last 4 trading sessions, and with the stock moving above $2 between last night's close and the open today, technicians are likely buying the stock on a possible breakout. Is likely also moving higher as investors are playing to the swine flu trade.

Hoku Scientific, Inc. (Nasdaq: HOKU) 28.9% LOWER; reports Q4 loss of $0.03, ex-items, 2 cents better than the analyst estimate of ($0.05). Revenue for the quarter was $112K, versus the consensus of $300K. Doesn't expect to issue FY10 sales guidance.

WSP Holdings (NYSE: WH) 27.5% HIGHER; upside momentum is continuing in the stock today, which is trading on extremely heavy volume. Since June 4, shares of WSP have not closed a trading session in negative territory, gaining nearly 63% over the course. We are not hearing any company-specific news which would justify today's sharp move higher.

E*TRADE Financial (Nasdaq: ETFC) 15.7% HIGHER; upside is accelerating following reports earlier in the week that the company is working on a deal with Citadel Investment Group, its largest share and debt holder, to shore up its financial position.

Sequenom (Nasdaq: SQNM) 15.3% HIGHER; may be moving higher on the swine flu trade. Yesterday the WHO raised its swine flu alert to level 6.

Cabot (NYSE: CBT) 15.2% LOWER; falling today on the back of a JPMorgan research note saying the company will likely cut its dividend.

EZCORP (Nasdaq: EZPW) 14.2% LOWER; lowers its Q3 EPS guidance from about $0.34 to $0.29-$0.31, versus the consensus of $0.34 and its Q4 EPS outlook from $0.46-$0.48 to $0.41-$0.43, which compares to the Street estimate of $0.46. For FY09, EZCORP now sees EPS in the range of $1.40-$1.44, down from $1.50-$1.52 previously, and versus the consensus of $1.51. Click here for the full report.

Rambus Inc. (NASDAQ: RMBS) 12.5% HIGHER; today announced that it has reached a tentative settlement with the European Commission to resolve the pending case against the Company. Click here for the full report.

STAAR Surgical (Nasdaq: STAA) 10.4% LOWER; correcting today following a 63% surge yesterday on FDA approval news.

Oculus Innovative Sciences, Inc. (NASDAQ: OCLS) 10.4% LOWER; reports Q4 loss of $0.13, compared to a loss of $0.34 in the same quarter last year. Revenue for the quarter was $1.5 million, versus $926,000 in Q408.

To get this report daily visit http://www.streetinsider.com/entities/Unusual+11+Mid-Day+Movers.

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