Unusual 11 Mid-Day Movers 8/13: REIS, LDG, PDO, RODM Higher; TWB, EGT, HQS, LIZ Lower

August 13, 2008 12:12 PM EDT

StreetInsider.com Unusual 11 Mid-Day Movers:

REIS, Inc. (Nasdaq: REIS) 63.3% HIGHER; this morning, CoStar Group, Inc. (Nasdaq: CSGP) offered to acquire REIS for a per share consideration of $8.75, all cash with no financing contingency. CoStar's proposal represents a premium of approximately 97% above the $4.44 per share closing price of REIS common stock on August 12, 2008.

Tween Brands (NYSE: TWB) 44.5% LOWER; reports a Q1 loss of $0.27, versus the analyst estimate of ($0.01). Revenues for the quarter were $223.1 million, versus the consensus of $245.11 million. Sees 2H08 EPS in the range of $0.35-$0.65. 2H sales are expected to be in the range of $577-$592 million. Same store sales for the quarter are expected to be down 6-9%. Also, Tween announced that it will convert approximately 560 Limited Too stores across the country to its more value-oriented Justice brand to drive growth and profitability.

Elixir Gaming Technologies, Inc. (AMEX: EGT) 35.3% LOWER; reports a Q2 loss of $0.08, 4 cents lower than the analyst estimate of ($0.04). Revenues for the quarter were $3.67 million, versus the consensus of $3.22 million.

Longs Drug Stores (NYSE: LDG) 30.3% HIGHER; CVS Caremark and Longs Drug Stores entered into a definitive agreement under which CVS Caremark will acquire Longs for $71.50 per share in cash for a total purchase price of $2.9 billion including the assumption of net debt. Shares of Longs closed at $54.04 today.

HQ Sustainable Maritime Industries, Inc. (AMEX: HQS) 28.2% LOWER; reports a Q2 loss of $0.08, which does not compare to the analyst estimate of $0.24. Revenues for the quarter were $14.5 million, versus the consensus of $16.17 million.

Pyramid Oil Company (AMEX: PDO) 28% HIGHER; reports Q2 EPS of $0.24 (or $0.19 after a 5-for-4 stock split), compared to $0.11 (or $0.09 post split).. Revenues for the quarter were $2.1 million, compared to $1.1 million in Q207.

Rodman & Renshaw Capital Group, Inc. (NASDAQ: RODM) 20.8% HIGHER; reports Q2 non-GAAP EPS of $0.20, versus the analyst estimate of $0.03. Revenues for the quarter were $29.5 million, versus the consensus of $11.50 million.

Liz Claiborne Inc. (NYSE: LIZ) 16.4% LOWER; reports Q2 adjusted EPS of $0.09 vs. consensus of $0.00 - may not be comparable. Revenues were $974 million vs. $970.41 million consensus. Narrowing fiscal 2008 adjusted EPS guidance range, resulting in a new range of $1.40 to $1.50, compared to the previous range of $1.40 to $1.60. For the third quarter of 2008, we expect adjusted EPS to be in the range of $0.37 to $0.42." (FY08 EPS consensus is $1.39 and Q3 EPS consensus is $0.58).

Christopher & Banks (NYSE: CBK) 16% LOWER; downgraded by JP Morgan from Overweight to Neutral.

Ultrapetrol (Bahamas) Limited (Nasdaq: ULTR) 15.2% HIGHER; reports Q2 EPS of $0.36, which does not compare to the analyst estimate of ($0.27). Revenues for the quarter were $83 million, versus the consensus of $80.96 million.

Cree Inc. (Nasdaq: CREE) 13.9% HIGHER; reports Q4 EPS of $0.16, ex-items, versus the analyst estimate of $0.09. Revenues for the quarter were $135.9 million, versus the consensus of $130.92 million. Sees Q1 EPS of $0.13-$0.15, versus the consensus of $0.10 and revs of $138-$142 million, versus the consensus of $136.3 million.

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