StreetInsider.com Unusual 11 Mid-Day Movers 04/19/2007

April 19, 2007 11:23 AM EDT

Avici Systems Inc. (Nasdaq: AVCI) 27.25% LOWER; Reports Q1 EPS of $0.42, versus the consensus of $0.07. Revenues came in at $20.5 million versus the consensus of $13.1 million. Declares special $2/share dividend. Avici announced that it will be transitioning away from core router development to focus on its new product initiative, Soapstone Networks. The company said that the routing market is under tremendous pressure from alternative technologies such as Ethernet switching and we do not believe our focus on core routers and our position as the number three supplier in this market to be a sustainable growth business for the company.

Spansion (Nasdaq: SPSN) 21.5% LOWER; Reports Q1 loss of $0.56, versus the consensus of a $0.24 loss. Revenues came in at $628 million versus the consensus of $678.3 million. Due to the intensely competitive pricing environment, the company is not providing specific financial guidance for the second quarter of 2007 at this time.

Labor Ready (NYSE: LRW) 21.4% HIGHER; Reports Q1 EPS of $0.21, 5 cents better than estimates.(0.16) Revenues were $290 million vs. $281.3 million consensus. Sees Q2 EPS of $0.33-$0.35, versus the consensus of $0.31. Sees FY EPS of $1.40-$1.45, versus the consensus of $1.24. Also announces new $100 million stock buyback

Monogram Biosciences (Nasdaq: MGRM) 20% HIGHER; Stock is seeing continued momentum. The stock was 4.4% higher yesterday. This one hit our radar yesterday as a trader mentioned to us that an analyst was out positive on the stock related to Pfizer's (PFE) HIV drug. (NOTE: We have not seen the report).

WorldGate Communications (Nasdaq: WGAT) 17.65% HIGHER; Announced that it has reached agreement with Tiger Direct, one of the top Online and Catalog Retailers for computer and computer-products, to distribute its Ojo personal video phones.

Columbia Laboratories (Nasdaq: CBRX) 16% HIGHER; Stock moving higher with no specific news reports.

Avanir Pharmaceuticals (Nasdaq: AVNR) 13% HIGHER; Continuation from yesterday's 308% move on positive trial news.

Valmont Industries (NYSE: VMI) 12.5% HIGHER; Reports Q1 EPS of $0.72, 9 cents better than estimates. Revenues were $340.7 million vs. $328.84 million consensus.

Imation (NYSE: IMN) reports Q1 earnings of $0.44 per share, below the consensus of $0.61. Revenues came in at $421.9 million versus the consensus of $448.3 million. The company also announced a 5 million share buyback. Imation and TDK (NYSE: TDK) reached a definitive agreement under which Imation will acquire TDK brand world wide recording media business and use of the TDK brand name for recording media products, for $300 million.

Watsco, Inc. (NYSE: WSO) 8.7% HIGHER; Reports Q1 EPS of $0.39, 3 cents worse than estimates. Revenues were $377 million vs. $380.68 million consensus. The Company also announced its outlook for 2007 earnings per share is revised to a range of $3.25 to $3.35 per diluted share to reflect the first quarter performance and current trends. This outlook includes an earnings growth rate of 15% to 19% for the remainder of 2007, consistent with long-term historical growth rates. (Consensus is $3.40)

Schering-Plough (NYSE: SGP) 8% HIGHER; Reports Q1 earnings of $0.42 per share, ex-items, 13 cents better than estimates. Revenues came in at $2.98 billion versus the consensus of $2.74 billion.

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