Morning Movers 5/11: TRGT, CNO, VM, PMI, BIOF Higher; FACE, ALD, CPSL, SWSI, DRYS Lower

May 11, 2009 9:56 AM EDT

Targacept, Inc. (NASDAQ: TRGT) 197% HIGHER; announced preliminary results showing that AZD3480 (TC-1734) met the primary outcome measure in a Phase II clinical study in adults with attention deficit/hyperactivity disorder (ADHD). Click here for the full report. Targacept also reported Q1 EPS of ($0.19), 12 cents better than the analyst estimate of ($0.31). Revenue for the quarter was $6.14 million, versus the consensus of $4.05 million.

Physicians Formula Holdings, Inc. (Nasdaq: FACE) 54.8% LOWER; reports Q1 loss of $0.13, versus the analyst estimate of $0.04. Revenue for the quarter was $20.2 million, versus the consensus of $30.29 million.

Conseco, Inc. (NYSE: CNO) 29.4% HIGHER; reports Q1 EPS of $0.17, 3 cents lower than the analyst estimate of $0.20. Revenue for the quarter was $1.069 billion, versus the consensus of $1.14 billion.

Virgin Mobile (NYSE: VM) 29% HIGHER; reports Q1 EPS of $0.24 ex-items, 14 cents better than the analyst estimate of $0.10. Revenue for the quarter was $337.3 million, versus the consensus of $359.36 million.

PMI Group (NYSE: PMI) 21.5% HIGHER; reports Q1 EPS of ($1.41) versus the analyst estimate of ($1.79). Revenue for the quarter was $245.1 million, versus the consensus of $230.6 million.

BioFuel Energy (Nasdaq: BIOF) 21.5% HIGHER; continuing higher today following a 280% surge last week on no news.

Allied Capital Corporation (NYSE: ALD) 20.3% LOWER; reports Q1 EPS of $0.16, 3 cents better than the analyst estimate of $0.13. Revenue for the quarter was $88.73 million, versus the consensus of $93.81 million.

China Precision Steel (Nasdaq: CPSL) 17.9% LOWER; reports Q3 EPS of ($0.08), 10 cents below the analyst estimate of $0.02. Revenue for the quarter was $7.62 million, versus the consensus of $12.12 million.

Superior Well Services, Inc. (Nasdaq: SWSI) 15.8% LOWER; reports Q1 loss of $0.67, versus the analyst estimate of ($0.08). Revenue for the quarter was $122.3 million, versus the consensus of $148.10 million.

DryShips (Nasdaq: DRYS) 15% LOWER; continuing lower today following news Friday that it plans to initiate a $475 million public offering. Shares have fallen nearly 40% in the last 3 trading sessions.

Hemispherx Biopharma (AMEX: HEB) 14.9% LOWER; announced today that it has agreed to sell up to $18.3 million in common stock and warrants in a registered offering to two institutional investors. The investors will purchase today, for $15 million cash, common shares of its stock at $1.10 per share.

Ormat Technologies Inc. (NYSE: ORA) 14.2% HIGHER; reports Q1 EPS of $0.32, 7 cents better than the analyst estimate of $0.25. Revenue for the quarter was $99.9 million, versus the consensus of $88.84 million.

Anadys Pharma (Nasdaq: ANDS) 13.7% HIGHER; ThinkEquity upgrades Anadys from Accumulate to Buy with a $6 price target.

ENGlobal (NASDAQ: ENG) 13.2% LOWER; reports Q1 EPS of $0.07, versus the analyst estimate of $0.13. Revenue for the quarter was $93.5 million, versus the consensus of $110 million.

Petroleum Development Corporation (Nasdaq: PETD) 13.1% LOWER; reports Q1 loss of $0.39, versus the analyst estimate of $0.49. Revenue for the quarter was $39.7 million, versus the consensus of $103.33 million.

Zhongpin Inc. (Nasdaq: HOGS) 13% HIGHER; reports Q1 EPS of $0.33, 6 cents better than the analyst estimate of $0.27. Revenue for the quarter was $153.8 million, versus the consensus of $152.44 million. Reaffirms its previously issued FY09 outlook.

General Steel Holdings, Inc. (NYSE: GSI) 12.2% HIGHER; reports Q1 EPS of $0.09, ex-items, 14 cents better than the analyst estimate of ($0.05). Revenue for the quarter was $322.8 million, versus the consensus of $322.78 million.

DISH Network Corporation (Nasdaq: DISH) 12% HIGHER; reports Q1 EPS of $0.70, 13 cents better than the analyst estimate of $0.57. Revenue for the quarter was $2.91 billion, versus the consensus of $2.90 billion.

Clear Channel Outdoor Holdings (NYSE: CCO) 11.8% LOWER; reports Q1 EPS of ($0.25), 7 cents below the analyst estimate of ($0.18). Revenue for the quarter was $582.2 million, versus the consensus of $641.69 million.

Capital One Financial Corporation (NYSE: COF) 11% LOWER; announced the pricing of a public offering of 56 million shares of its common stock at a public offering price per share of $27.75.

Principal Financial Group, Inc. (NYSE: PFG) 9.2% LOWER; proposed offering of 42,250,000 shares of common stock to the public. The net proceeds from the offering will be used for general corporate purposes.

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