Morning Movers 7/17: BCRX, CIT, CYTX, TPX, WBS Higher; BMI, MELA, FHN, ANGO, OCN Lower

July 17, 2009 9:06 AM EDT

BioCryst Pharmaceuticals (Nasdaq: BCRX) 55.2% HIGHER; announced positive results from two Phase 3 studies of intravenous peramivir in patients with seasonal influenza. The studies were sponsored by BioCryst's partner Shionogi & Co., Ltd. of Osaka, Japan and conducted during the 2008-2009 influenza season. Shionogi and Green Cross Corporation, the license holder of peramivir in Korea, co-conducted the portion of the studies in Korea. Click here for the full report.

CIT Group (NYSE: CIT) 33.4% HIGHER; correcting today following yesterday's 75% drop on news that the government said it won't back the ailing commercial lender. Late last night, CIT announced that its Board of Directors and management, in consultation with their advisors, are continuing to evaluate alternatives to improve the Company's liquidity. CIT is in discussions with potential lenders to secure financing.

Cytori Therapeutics (NASDAQ: CYTX) 17.4% HIGHER; was informed by the U.S. FDA that the Celution 700 System will be regulated as a medical device under the Federal Food, Drug, and Cosmetic Act. This determination, in response to Cytori's Request for Designation, clears the way for Cytori to compile and submit a marketing application to the FDA for the Celution 700 System for use as a medical device in aesthetic body contouring and/or filling of soft tissue voids.

Badger Meter (NYSE: BMI) 10.6% LOWER; reports Q2 EPS of $0.52, 2 cents lower than the analyst estimate of $0.54. Revenue for the quarter was $67.76 million, versus the consensus of $71.22 million.

Electro-Optical Sciences, Inc. (NASDAQ: MELA) 10% LOWER; announced that it has entered into definitive agreements with a select group of institutional investors to sell 2,400,000 shares of common stock at a negotiated purchase price of $6.25 per share in a registered direct offering. The transaction is expected to close on or about July 22, 2009, subject to the satisfaction of customary closing conditions. The offering will result in gross proceeds of $15 million to EOS, before deducting placement agents' fees and estimated offering expenses.

First Horizon National Corp. (NYSE: FHN) 9.6% LOWER; reports Q2 loss of $0.58, versus the analyst estimate of ($0.33). Revenue for the quarter was $491.4 million, versus the consensus of $565.85 million.

Tempur Pedic International (NYSE: TPX) 9.3% HIGHER; reports Q2 EPS of $0.22, 4 cents better than the analyst estimate of $0.18. Revenue for the quarter was $185.2 million, versus the consensus of $172.79 million. Reaffirms forecast.

AngioDynamics (Nasdaq: ANGO) 7.7% LOWER; reports Q4 EPS of $0.32, ex-items, versus the analyst estimate of $0.15. Revenue for the quarter was $52.8 million, versus the consensus of $53.45 million. Sees FY10 sales of $209-$215 million, versus the consensus of $215.18 million, with GAAP EPS of $0.43-$0.47, including a $0.24 EPS impact from IRE investments. The Street is currently looking for FY10 EPS of $0.59.

Webster Financial Corporation (NYSE: WBS) 7.2% HIGHER; reports Q2 EPS of $0.31, versus the analyst estimate of ($0.46) and compared to a loss of $0.56 in the same quarter last year.

Ocwen Financial (NYSE: OCN) 6% LOWER; filed a $300 million mixed securities offering.

Mattel, Inc. (NYSE: MAT) 5.6% HIGHER; reports Q2 EPS of $0.06, 6 cents better than estimates. Revenues were $898.2 million vs. $969.70 million consensus.

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