Unusual 11 Mid-Day Movers 6/5: CDZI, XTNT, PMTI, RSOL Higher; NVAX, CAE, HEB, XIDE Lower

June 5, 2009 12:25 PM EDT

Cadiz Inc. (NASDAQ: CDZI) 52.2% HIGHER; executed Letters of Intent with a broad collection of Southern California water providers to develop a cost-sharing agreement, finalize terms of pricing, design and capital allocation and work towards implementation of its water conservation and storage project. These providers together serve more than 3 million water customers across the region. Click here for the full report.

XTENT (Nasdaq: XTNT) 44.6% HIGHER; continuing higher today following yesterday's 400% jump (moved from $0.30 to $1.50 by the close). The company announced that it received conditional approval from the US FDA for an Investigational Device Exemption authorizing it to begin its pivotal clinical program, composed of two pivotal trials called CUSTOM IV and CUSTOM IV Angio to support the approval in the United States of its Custom NX(R) Drug Eluting Stent System.

Palomar Medical Technologies Inc. (Nasdaq: PMTI) 42.3% HIGHER; today announced that it has become the first company to receive a 510(k) OTC clearance from the U.S. FDA for a new, patented, home use, laser device for the treatment of periorbital wrinkles. OTC clearance allows the device to be marketed and sold directly to consumers without a prescription.

Real Goods Solar (NASDAQ: RSOL) 39.4% HIGHER; announced it has signed a contract to design and install solar electric systems totaling 3.65 megawatts for the Fremont Union High School District in Sunnyvale, Cupertino and west San Jose, California. Click here for the full report.

Jackson Hewitt (NYSE: JTX) 36.5% HIGHER; today announced that Harry Buckley, former president and CEO of H&R Block Tax Services, will join the company as president and CEO, effective immediately. Oppenheimer also upgraded the stock from Perform to Outperform.

Ulta Salon, Cosmetics & Fragrance, Inc. (Nasdaq: ULTA) 18.4% HIGHER; reports Q1 EPS of $0.08, 3 cents better than the analyst estimate of $0.05. Revenue for the quarter was $268.8 million, versus the consensus of $265.05 million. Same store sales fell 2.3% during the quarter. Sees Q2 sales of $264-$272 million, which compares to the Street estimate of $269.07 million. This level of sales assumes a same store sales decline of 2-5%. EPS for the quarter are expected to be in the range of $0.03-$0.05, versus the consensus of $0.04.

Novavax, Inc. (Nasdaq: NVAX) 16% LOWER; correcting today following a 74% jump yesterday on news that the company 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.

Cascade Corporation (NYSE: CAE) 15.8% LOWER; reports Q1 loss of $1.12, versus the analyst estimate of $0.13. Revenue for the quarter was $76.3 million, versus the consensus of $87.57 million.

Hemispherx BioPharma (AMEX: HEB) 15.7% LOWER; after trading up as much as 21% today, shares of Hemispherx plummet mid-day despite no news. The stock has seen extremely heavy volume over the last few weeks, however, today's trading puts past levels to shame. The stock has already traded more than 40 million times, which compares to the stock's average daily volume of 10.3 million shares.

Exide Technologies (Nasdaq: XIDE) 14.8% LOWER; reports Q4 loss of $0.03, ex-items, versus the analyst estimate of ($0.22). Revenue for the quarter was $654.3 million, versus the consensus of $760.17 million.

First Community Bancshares, Inc. (NASDAQ: FCBC) 13% LOWER; priced a public offering of 4.6 million shares of common stock at $12.50 per share for gross proceeds of $57.5 million.

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

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