Unusual 11 Mid-Day Movers 7/8: NVGN, GRVY, TRGT, AMGN Higher; ARYX, RODM, YRCW, GNW Lower

July 8, 2009 12:38 PM EDT

Novogen Limited (Nasdaq: NVGN) 62.5% HIGHER; continuing higher today following a 37% rally yesterday on news that researchers have discovered that Marshall Edwards (Nasdaq: MSHL) anti-tumor drug phenoxodiol kills rapidly proliferating t-cells.

Gravity Co., Ltd (Nasdaq: GRVY) 50.9% HIGHER; reports Q1 revenues rose 9.3% from last year to $12.99 million. Net income rose to $4.1 million from $1.29 million.

ARYx Therapeutics, Inc. (NASDAQ: ARYX) 44.5 LOWER; getting slammed in pre-open trading after announcing that a trial of anticoagulant agent tecarfarin did not achieve the primary endpoint of superiority over leading oral anticoagulant warfarin. Click here for the full report.

Targacept, Inc. (Nasdaq: TRGT) 27.5% HIGHER; announced that AstraZeneca (NYSE: AZN) has informed Targacept that it plans to conduct further development of AZD3480 (TC-1734) for attention deficit/hyperactivity disorder and has agreed to make a $10 million milestone payment to Targacept.

Rodman & Renshaw Capital Group, Inc. (NASDAQ: RODM) 21.4% LOWER; reports preliminary Q2 revenue of $27 million, versus $6.9 million in Q109. Cash and cash equivalents were approximately $14.3 million as of June 30, 2009, compared to $8.8 million as of March 31, 2009. Liquid assets were approximately $19.5 million, consisting of cash and cash equivalents, "Level I" assets2, and current receivables, compared to $12.1 million as of March 31, 2009. Here is the full report.

YRC Worldwide (Nasdaq: YRCW) 16.5% LOWER; falling sharply today amid some concerning from an analyst at Morgan Keegan. The firm said a bankruptcy filing is "still likely in the near to mid-term".

Genworth Financial (NYSE: GNW) 16.5% LOWER; continuing lower today following news yesterday that the company closed its Canadian IPO.

Amgen (Nasdaq: AMGN) 15.6% HIGHER; announced that a pivotal, Phase 3, head-to-head trial evaluating denosumab versus Zometa(R) (zoledronic acid) in the treatment of bone metastases in 2,049 patients with advanced breast cancer met its primary and secondary endpoints and demonstrated superior efficacy compared to Zometa. Click here for the full report. The stock also had some analyst action: had its price target raised at both Piper Jaffray and Baird.

American Axle (NYSE: AXL) 14.5% LOWER; continuing lower once again amid bankruptcy fears.

DynCorp International Inc. (NYSE: DCP) 12.2% HIGHER; hearing reports that DynCorp and Fluor (NYSE: FLR) were picked over KBR Inc. (NYSE: KBR) for 5-year contracts worth at much as $7.5 billion for each company, if all options are exercised. The contracts are to support the U.S. troop build-up in Afghanistan. Fluor and DynCorp each won basic one-year contract worth as much as $1.5 billion and four one-year options.

Steak & Shake (NYSE: SNS) 12.1% HIGHER; reported Q3 traffic rose 13.4% compared to the same period last year, while same store sales rose 5%. Management does not believe same-store sales constitute the main, exclusive, or most important metric to measure results. However, these numbers call attention to long-term traffic trends as a pertinent gauge useful in evaluating the business.

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

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• Piper Jaffray
• Robert W Baird
• Rodman & Renshaw
• Morgan Keegan & Company
• Unusual 11 Mid-Day Movers
• Bankruptcy

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