Unusual 11 Mid-Day Movers 8/4: TGIC, SMTK, PSPT, ELN Higher; WCI, RAIL, CHIC, LDL Lower

August 4, 2008 11:37 AM EDT

StreetInsider.com Unusual 11 Mid-Day Movers:

WCI Communities, Inc. (NYSE: WCI) 47.6% LOWER; announced that it and approximately 130 of its wholly-owned subsidiaries had filed voluntary petitions to restructure their debt and capital.

Triad Guaranty (Nasdaq: TGIC) 46.6% HIGHER; continues higher today after jumping more than 62% on Friday following the stocks break through a technical resistance level at $1.00.

Simtek Corp. (Nasdaq: SMTK) 44.9% HIGHER; Friday after the close, Cypress Semiconductor (NYSE: CY) announced that it reached an agreement to purchase Simtek in an all cash transaction for $2.60 per share, or an aggregate value of about $46 million.

PeopleSupport, Inc. (Nasdaq: PSPT) 25.4% HIGHER; Aegis BPO and PeopleSupport, Inc. (Nasdaq: PSPT) announced a definitive agreement to merge through Essar Services (Mauritius), its wholly owned subsidiary, through a cash transaction with an aggregate equity value of approximately $250 million. This strategic combination has been unanimously approved by the Boards of Directors of both companies. Under the terms of the agreement, Aegis BPO will pay PeopleSupport stockholders $12.25 per share in cash.

FreightCar America, Inc. (NASDAQ: RAIL) 22.7% LOWER; reports a Q2 loss of $0.08, including items, which does not compare to the analyst estimate of $0.24. Revenues for the quarter were $141.3 million, versus the consensus of $131.90 million.

Charlotte Russe (Nasdaq: CHIC) 22.4% LOWER; the apparel industry is having an extremely rough day on Wall Street today and Charlotte Russe is leading the industry lower. The stock was downgraded at Roth Capital to Sell and at Raymond James to Underperform.

Lydall (NYSE: LDL) 20.9% LOWER; reports Q2 EPS of $0.17, 4c lower than the $0.21 reported in Q207. Revenues for the quarter were $88.9 million, compared to $87.8 million in the same quarter last year.

PAETEC Holding Corp. (Nasdaq: PAET) 20.8% LOWER; after pre-announcing soft Q2 earnings before the market opened on Friday, the stock fell 46% throughout the trading session. Today, the stock is continuing to decline, adding another 20%.

Elan (NYSE: ELN) 16.8% HIGHER; after falling more than 70% last week on several negative drug related news items, shares of Elan are bouncing to start this week's trading session. After opening last week around $33, the stock closed last week's trading under $10.

Motorola, Inc. (NYSE: MOT) 10.7% HIGHER; today announced its Board of Directors has named Dr. Sanjay Jha as Co-CEO of Motorola and CEO of Motorola's Mobile Devices business, effective immediately.

Six Flags, Inc. (NYSE: SIX) 10.7% HIGHER; reports Q2 EPS from continuing operations of $0.72, including items, which does not compare to the analyst estimate of ($0.19). Revenues for the quarter were $345.7 million, versus the consensus of $340.51 million.

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