Unusual 11 Mid-Day Movers 5/16: PCOP, CPSL, JRJC, NED Higher; DVAX, FBC, LIMC, EXAR Lower

May 16, 2008 12:43 PM EDT

Pharmacopeia (Nasdaq: PCOP) 40.3% HIGHER; announced that PS433540, its first-in-class Dual Acting Receptor Antagonist (DARA), showed statistically significant blood pressure reductions in a Phase 2a study in patients with mild to moderate hypertension.

China Precision Steel, Inc. (Nasdaq: CPSL) 30.4% HIGHER; reports Q3 EPS of $0.10, 5 cents better than the analyst estimate of $0.05. Revenues for the quarter were $18.7 million, versus the consensus of $16.60 million.

Dynavax Technologies Corporation (Nasdaq: DVAX) 22.5% LOWER; reported primary endpoint data from a chamber study of TOLAMBA that showed a measurable clinical benefit, reducing total nasal symptom score by 41% vs. placebo in 253 patients in the intent-to-treat population (p=0.09) and by 51% vs. placebo in 222 patients in the per-protocol population (p=0.053). Statistical significance on the primary efficacy endpoint (change in TNSS for the intent-to-treat population) for this Phase 2b environmental exposure chamber study was not achieved.

China Finance Online (Nasdaq: JRJC) 18.2% HIGHER; now expects net revenues for the first quarter of 2008 to be in the range of US$10.5 to US$10.8 million, up from previous guidance range of US$10.0 to US$10.5 million. China Finance Online also raises its guidance on adjusted earnings to the range of US$4.5 to US$5.0 million for the first quarter of 2008, up 285% to 328% year-over-year and 24% to 38% quarter-over-quarter, compared to previous guidance of US$3.7 to US$ 4.0 million.

Flagstar Bancorp, Inc. (NYSE: FBC) 17.7% LOWER; announced that it entered into definitive agreements to raise an aggregate $100 million through direct sale of equity securities to seven institutional investors, to Thomas J. Hammond, Chairman of the Company and to Mark T. Hammond, Vice Chairman, President and Chief Executive Officer. With the proceeds of the offering, the Company will strengthen its regulatory capital position.

Noah Education Holdings, Ltd. (NYSE: NED) 15% HIGHER; reports Q3 revenues rose 8.5% to US$26.3 million and EPS of $0.20, veruss $0.05 last year. Noah expects its total net revenue for the fourth quarter of fiscal year 2008 (April 1, 2008 to June 30, 2008) to grow in the range of 16% to 18%, compared to the corresponding period last year. Noah expects net income growth in the fourth fiscal quarter 2008 in the range of 350% to 400%, as compared to the corresponding period last year. In addition, The Company has raised it forecast for total net profit for full fiscal year 2008 to be in the range of RMB128 million to RMB130 million. This forecast reflects Noah's current and preliminary view, which is subject to change.

Zoltek Companies (Nasdaq: ZOLT) 15% HIGHER; is trending higher for the second day in a row after reporting a rise in Q1 earnings on Tuesday morning. In the last two days, shares of Zoltek are up about 31%.

Solarfun (Nasdaq: SOLF) 14.7% HIGHER; is trading higher ahead of its earnings on Wednesday of next week. Solar stocks have been absolutely on fire this week as these companies have been reporting blow-out earnings all week. Shares of Solarfun are up more than 40% over just this week.

Limco Piedmont (Nasdaq: LIMC) 13.7% LOWER; reports Q1 EPS of $0.08, 3 cents lower than the analyst estimate of $0.11. Revenues for the quarter were $17.1 million, versus the consensus of $18.40 million.

Exar (Nasdaq: EXAR) 12.8% LOWER; reports a Q4 loss of $0.04, 3 cents worse than the analyst estimate of ($0.01). Revenues for the quarter were $28.3 million, versus the consensus of $30.64 million. For the first quarter of fiscal 2009 ending June 29, 2008, the Company projects that net sales will increase to between $29.0 million and $31.5 million. (Consensus is $33.18 million)

JED Oil Inc. (AMEX: JDO) 10% LOWER; reports a Q1 loss of $0.04 compared to a loss of $0.23 for the same period las year. Revenues were $9.7 million compared to $3.3 million for the same period last year.

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