Unusual 11 Mid-Day Movers 8/28: TRBN, DRJ, ARUN, OVTI Higher; VG, CPWM, IMMU, LLNW Lower

August 28, 2009 1:00 PM EDT

Trubion Pharmaceuticals, Inc. (Nasdaq: TRBN) 49.9% HIGHER; Facet Biotech Corporation (Nasdaq: FACT) and Trubion today announced an agreement for the joint worldwide development and commercialization of TRU-016, a product candidate in phase 1 clinical development for chronic lymphocytic leukemia. Click here for the full report.

Dreams, Inc. (Amex: DRJ) 31.6% HIGHER; announced a partnership with the NBA's Washington Wizards to launch the team's official online store www.WashingtonWizardsStore.com.

Vonage (NYSE: VG) 24% LOWER; correcting once again today following a sharp 500% run-up from August 20 to August 26.

Cost Plus (Nasdaq: CPWM) 20.7% LOWER; reports Q2 loss from continuing operations of $0.90, 6 cents lower than the analyst estimate of ($0.84). Sees Q3 sales of $177-$186 million.

Aruba Networks, Inc. (Nasdaq: ARUN) 16.3% HIGHER; reports Q4 EPS of $0.03, ex-items, 1 cent better than the analyst estimate of $0.02. Revenue for the quarter was $53.3 million, versus the consensus of $49.45 million. The stock was also upgraded to Outperform at RBC Capital.

Immunomedics, Inc. (Nasdaq: IMMU) 11.1% LOWER; reports Q4 EPS of $0.01, in-line with the analyst estimate of $0.01. Revenue for the quarter was $8.3 million, versus the consensus of $8.37 million.

OmniVision Technologies, Inc. (Nasdaq: OVTI) 10.5% HIGHER; reports a Q1 loss of $0.08, 3 cents better than estimates. Revenues for the first quarter of fiscal 2010 were $105.6 million vs. $99.13 million consensus. Based on current trends, the Company expects fiscal second quarter 2010 revenues will be in the range of $155 million to $170 million vs. consensus of $111.81M. The Company expects its non-GAAP net income per share attributable to OmniVision Technologies, Inc. common stockholders will be between $0.10 and $0.20 per diluted share. (Consensus is a loss of $0.04). The stock also had its price target raised at Kaufman.

Limelight Networks (Nasdaq: LLNW) 8.7% LOWER; Raymond James downgrades from Underperform to Market Perform.

Tiffany & Co. (NYSE: TIF) 8.4% HIGHER; reports Q2 EPS of $0.46, 13 cents better than estimates. Net sales in the second quarter declined 16% to $612.5 million vs. $602.14 million consensus. Sees FY09 Net earnings from continuing operations of $1.65 - $1.75 per diluted share (versus the previous forecast of $1.50 - $1.60 per diluted share). (Consensus is $1.58)

Armstrong World Industries (NYSE: AWI) 7.6% HIGHER; SunTrust upgrades the stock to Buy. Price target $40.

Novell Inc. (Nasdaq: NOVL) 6.7% LOWER; reports Q3 EPS of $0.07, ex-items, in-line with the analyst estimate of $0.07. Revenue for the quarter was $216 million, versus the consensus of $216.64 million.

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

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