Morning Movers 10/15: ACOR, SLTM, RUBO, DSW, CIT, PLX Higher; STSA, UEC, CXM, CHIO, MNI Lower

October 15, 2009 10:29 AM EDT

Acorda Therapeutics, Inc. (Nasdaq: ACOR) 49.9% HIGHER; announced the FDA eripheral and Central Nervous System Drugs Advisory Committee voted 12 to 1 that clinical data on Fampridine-SR 10 mg twice daily demonstrated substantial evidence of effectiveness as a treatment to improve walking in people with multiple sclerosis (MS) and voted 10 to 2 (1 abstention) that it is clinically meaningful and can be safe for use. Click here for the full report.

Solta Medical, Inc. (NASDAQ: SLTM) 31.7% HIGHER; today announced it has received FDA 510(k) clearance for the new Fraxel re:store Dual laser system. The Fraxel re:store Dual system takes the industry leading fractional laser technology to the next level by adding a novel 1927 nm wavelength, the first ever application of a Thulium laser in the aesthetics market. Click here for the full report.

Rubio's(R) Restaurants, Inc. (Nasdaq: RUBO) 30.5% HIGHER; today announced that its Board of Directors had received an unsolicited letter, dated October 13, 2009, from a group consisting of Alex Meruelo and his affiliates and Levine Leichtman Capital Partners IV, L.P. outlining a proposal to acquire all of the Company's outstanding common stock for $8.00 per share. The Board intends to consider the letter consistent with its fiduciary duties to act in the best interests of the Company's stockholders.

DSW Inc. (NYSE: DSW) 18.6% HIGHER; estimates comparable store sales of approximately positive 6% to 8% for Q3 and raises its FY09 EPS guidance from $0.37-$0.45 to $0.70-$0.80, which compares to the Street consensus of $0.44.

CIT Group (NYSE: CIT) 13.2% HIGHER; hearing reports that CIT could be close to securing a new loan which would be valued anywhere from $3 billion to $6.5 billion. Sources suggested that a deal could be hammered out as soon as the end of this week, but that the situation was very fluid and could be delayed at any time.

Sterling Financial Corporation (NASDAQ: STSA) 12.7% LOWER; shares are tumbling this morning following news earlier of an agreement to Cease and Desist. Also, late last night, Sterling announced that co-founder, Chairman, President and CEO, Harold Gilkey, would be leaving the company. Click here for the full report.

Uranium Energy Corp. (NYSE: UEC) 12.3% LOWER; RBC downgrades from Sector Perform to Underperform.

Cardium Therapeutics (AMEX: CXM) 12.1% LOWER; today announced a registered direct offering of common stock to selected investors for aggregate gross proceeds of $6 million. The offering is made pursuant to a registration statement that was filed by Cardium Therapeutics with the SEC and declared effective by the SEC on August 15, 2007. The securities in the offering include an estimated 4,615,385 shares of Cardium common stock at a price of $1.30 and warrants to purchase up to 3,000,000 shares of Cardium common stock at an exercise price of $1.40.

China INSOnline Corp. (NASDAQ: CHIO) 11.4% LOWER; correcting today following yesterday's 49% surge on FY09 results.

Protalix BioTherapeutics, Inc. (AMEX: PLX) 10.5% HIGHER; announced today positive top-line results from the Company's pivotal Phase III clinical trial of UPLYSO (taliglucerase alfa, previously referred to as prGCD) in treatment naive patients diagnosed with Gaucher disease. Here is the full report.

The McClatchy Company (NYSE: MNI) 10.4% LOWER; reports Q3 EPS of $0.13, ex-items, 1 cent lower than the analyst estimate of $0.14. Revenue for the quarter was $374.4 million, which compares to the estimate of $353.60 million.

PetSmart, Inc. (NASDAQ: PETM) 10.3% HIGHER; is raising third quarter EPS guidance to $0.25 to $0.29 and full year guidance to $1.43 to $1.51. The consensus is $0.22 and $1.42, respectively.

Nokia (NYSE: NOK) 10.3% LOWER; reports Q3 EPS of EUR 0.17 ex-items, compared to EUR 0.33 in the same quarter last year. Revenue for the quarter was EUR 9.81 billion, versus EUR 12.23 billion in Q308.

Chicago Bridge & Iron (NYSE: CBI) 9.6% HIGHER; Goldman Sachs upgrades the stock from Neutral to Buy with a $25 price target, citing leverage to Australia LNG, potential for estimate increases given recent award wins and near-term catalysts, and valuation.

Datalink Corp. (NASDAQ: DTLK) 8% LOWER; reports Q4 adj-EPS of $0.01, 2 cents lower than the analyst estimate of $0.03. Revenue for the quarter was $42.7 million, which compares to the estimate of $42.77 million. Sees Q4 adj-EPS of $0.03-$0.07, versus the consensus of $0.03, and sales of $45-$49 million, which compares to the Street estimate of $42.77 million.

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