Unusual 11 Mid-Day Movers 4/25: HDY, XJT, VNDA, YRCW Higher; NSTK, ISIS, FBR, PGNX Lower

April 25, 2008 1:57 PM EDT

Hyperdynamics Corporation (AMEX: HDY) 42.7% HIGHER; today announced that new seismic lines are already providing geophysical confirmation of the most significant play types along the West African Transform Margin play. Confirmation has been made of the deeper, very large structural traps being delineated within the Lower Cretaceous section, and further evidence now exists to support the immense size of these structures.

ExpressJet Holdings, Inc. (NYSE: XJT) 42.6% HIGHER; today announced that a Special Committee composed of independent outside members of its Board of Directors has unanimously rejected a proposal from SkyWest, Inc. (Nasdaq: SKYW) to acquire the Company for $3.50 per share in cash. Also, the Special Committee has announced that it has started a full review of strategic alternatives for ExpressJet.

Vanda Pharmaceuticals (Nasdaq: VNDA) 33.8% HIGHER; is spiking on no news today. With about 30% of its float shorted at the beginning of the month, today's rallying could be sparked by short covering.

Nastech Pharmaceutical (Nasdaq: NSTK) 32.6% LOWER; entered into definitive agreements with new and existing investors to raise gross proceeds of $7,932,500 though a registered direct offering. Under terms of the agreement, the Company will sell 4,585,260 shares of its common stock at $1.73 per share.

YRC Worldwide (Nasdaq: YRCW) 29.4% HIGHER; reports a Q1 loss of $0.81, which may not be comparable to the analyst estimate of ($0.25). Revenues for the quarter were $2.23 billion, versus the consensus of $2.26 billion.

ISIS Pharmaceuticals Inc. (Nasdaq: ISIS) 27% LOWER; The FDA has provided guidance regarding approval requirements for mipomersen. The FDA has indicated that reduction of LDL-cholesterol is an acceptable surrogate endpoint for accelerated approval of mipomersen for use in patients with homozygous familial hypercholesterolemia (hoFH). The FDA will require data from two ongoing preclinical studies for carcinogenicity to be included in the hoFH filing, which is now anticipated to take place in 2010.

Friedman, Billings, Ramsey Group, Inc. (NYSE: FBR) 26.9% HIGHER; reports Q1 EPS of $0.30, compared to an after-tax loss of $1.08 in the same quarter last year. Revenues for the quarter were $92.28 million, versus 12.35 million in Q107.

Progenics Pharmaceuticals, Inc. (Nasdaq: PGNX) 26.7% HIGHER; Progenics and Wyeth (NYSE: WYE) announced that the FDA has approved RELISTOR subcutaneous injection for the treatment of opioid-induced constipation in patients with advanced illness who are receiving palliative care, when response to laxative therapy has not been sufficient.

QuickLogic Corp. (Nasdaq: QUIK) 20.4% LOWER; reports a Q1 loss of $0.02, 1 cent better than the analyst estimate of ($0.03). Revenues for the quarter were $11 million, versus the consensus of $11.20 million.

NBTY Inc. (NYSE: NTY) 20% LOWER; reports Q1 EPS of $0.67, 8 cents worse than the analyst estimate of $0.75. Revenues for the quarter were $533 million, versus the consensus of $530.32 million.

Horizon Lines, Inc. (NYSE: HRZ) 18.5% LOWER; reports Q1 EPS of $0.07 vs. consensus of $0.16. Operating revenue increased by $32.2 million or $11.8% to $305.9 million for the quarter vs. consensus of $308.85 million. Based on current market conditions, the Company updated its earnings guidance for the full year 2008, with projections of operating revenue at $1.315 - $1.35 billion and diluted earnings per share at $1.30 - $1.69. (FY08 revenue consensus is $1.35 billion and EPS consensus is $2.02)

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