Unusual 11 Mid-Day Movers 8/25: WLDN, CASM, CMRG, SPDE Higher; NED, GSL, ARAY, AIR Lower

August 25, 2009 1:50 PM EDT

Willdan Group, Inc. (NASDAQ: WLDN) 126% HIGHER; announced that its wholly-owned subsidiary, Willdan Energy Solutions, was awarded a $67 million contract with Consolidated Edison Company of New York, Inc., a subsidiary of Consolidated Edison, Inc. (NYSE: ED), to implement Con Edison's new energy efficiency program for small business customers. The initial contract work will commence in the current quarter, with most of the work scheduled to be completed by the end of 2011.

CAS Medical Systems, Inc. (Nasdaq: CASM) 72.5% HIGHER; announced a new 510(k) clearance from the U.S. FDA to expand the labeling for its FORE-SIGHT(r) Cerebral Oximeter. The new labeling allows FORE-SIGHT to be used on all patients, including those weighing less than 2.5 Kilograms (kg).

Casual Male Retail Group, Inc. (Nasdaq: CMRG) 28.8% HIGHER; reports Q2 EPS of $0.09, 5 cents better than estimates. Revenues were $98.3 million vs. $102.00 million consensus. Sees sales for the year to be approximately 10%-12% less than last year, merchandise margins to improve between 275 to 325 basis points, partially offset by unfavorable leveraging of fixed occupancy costs of approximately 180 basis points, cost savings in SG&A of approximately $26.0 million, resulting in SG&A for the year of approximately $151.0 million, or a decrease of 15% over the prior year. Free Cash Flow for FY09 is expected to be approximate between $20.0-$25.0 million and overall debt levels are anticipated to decline to $25.0-$30.0 million by the end of FY09.

Speedus Corp. (Nasdaq: SPDE) 25% HIGHER; Zargis Medical Corp., a majority-owned subsidiary of Speedus Corp., announced that it has begun selling its Zargis Cardioscan(TM) heart sound analysis software, along with 3M's (NYSE: MMM) just-released Bluetooth(R)-enabled 3M(TM) Littmann(R) Electronic Stethoscope Model 3200, as part of its previously announced exclusive multi-year global marketing alliance with 3M.

Matrixx Initiatives (Nasdaq: MTXX) 23.5% HIGHER; shares have spiked about 25% mid-day as we are hearing further reports that the flu season could be worse-than-expected due to the swine flu. With more than 23% of its float shorted, today's move is a textbook short squeeze.

Syniverse Holdings, Inc. (NYSE: SVR) 22.2% HIGHER; VeriSign, Inc. (NASDAQ: VRSN) announced a definitive agreement to sell its Messaging Business to Tampa, Fla.-based Syniverse, for cash consideration of $175 million, subject to working capital adjustments. The transaction is subject to certain closing conditions and regulatory approvals.

Noah Education Holdings, Ltd. (NYSE: NED) 13.9% LOWER; reports Q4 EPS of $0.08, ex-items, 6 cents better than the analyst estimate of $0.02. Sees Q1 sales of RMB231-RMB237 million.

Global Ship Lease (NYSE: GSL) 13% LOWER; continuing lower today following news Friday morning that the company amended its $800 million credit facility. Shares have fallen nearly 24% since the announcement.

Accuray Incorporated (Nasdaq: ARAY) 12.2% LOWER; reports Q4 EPS of $0.02, 1 cent lower than the analyst estimate of $0.03. Revenue for the quarter was $58.8 million, versus the consensus of $56.88 million. Sees Q1 sales of $40-$50 million, versus the Street estimate of $59.26 million. Sees Fy10 sales of $215-$230 million, versus the consensus of $237.92 million.

AAR Corp. (NYSE: AIR) 9.2% LOWER; sees Q1 EPS of $0.23-$0.27, versus the consensus of $0.41, on sales of $330-$345 million, which compares to the Street estimate of $353.66 million.

Denbury Resources (NYSE: DNR) 8.1% LOWER; UBS downgrades from Buy to Neutral. Price target $18.

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