Unusual 11 Mid-Day Movers 6/18: MEDE, BDCO, KOG, SSN Higher; MF, BKUNA, FITB, XJT Lower

June 18, 2008 1:38 PM EDT

MEDecision, Inc. (Nasdaq: MEDE) 280% HIGHER; reached a merger agreement pursuant to which Health Care Service Corporation, which operates Blue Cross and Blue Shield plans in Illinois, New Mexico, Oklahoma and Texas, will acquire all of the outstanding shares of MEDecision common stock for $7.00 per share in cash.

MF Global (NYSE: MF) 39.4% LOWER; intends to offer approximately $150 million of non-cumulative perpetual convertible preference shares and $150 million of convertible senior notes, in two private offerings. Each offering will have an option for an additional 20% granted to the initial purchasers. The proceeds of the offerings together with other components of the company's capital plan will be used to repay its outstanding bridge loan due in December 2008.

Blue Dolphin Energy (Nasdaq: BDCO) 31% HIGHER; often considered a speculative oil play, shares of Blue Dolphin are often very volatile. Interestingly, heavy trading didn't start until about an hour into the trading day. Since then the stock has traded about 1.5 million times, compared to its average daily volume of 167,000.

BankUnited Financial (NASDAQ: BKUNA) 29% LOWER; yesterday announced an increase in the number of shares of Class A common stock to issue from 200 million to 500 million. SunTrust downgraded BankUnited from Buy to Neutral, while Friedman Billings Ramsey downgraded the stock from Market Perform to Underperform.

Kodiak Oil (AMEX: KOG) 16.4% HIGHER; spiked intraday as President Bush mentioned increasing shale production, specifically, in the Green River Basin, where Kodiak's primary leaseholdings are.

Fifth Third Bancorp (Nasdaq: FITB) 16.3% LOWER; planned issuance of $1 billion in Tier 1 capital in the form of convertible preferred shares. The Company declared its second quarter cash dividend on its common stock and set the level at $0.15 per share, a reduction from the previous $0.44 per share quarterly level. The new dividend is payable on July 22, 2008, to holders of record on June 30, 2008. Fifth Third also announced the anticipated sales of certain non-core businesses. In conjunction with these actions and a more difficult operating environment, Fifth Third is revising its capital targets and is now targeting an 8 to 9 percent range for its Tier 1 capital ratio.

ExpressJet (NYSE: XJT) 15.6% LOWER; announced that Fred Cromer, the company's VP and CFO, will be leaving ExpressJet, effective July 15. ExpressJet has appointed Phung Burns as interim CFO until a permanent replacement for Mr. Cromer is found.

Samson Oil (AMEX: SSN) 14% HIGHER; speculative oil plays are back in play today.

Pyramid Oil (AMEX: PDO) 13.7% HIGHER; speculative oil plays are back.

CarMax, Inc. (NYSE: KMX) 12.9% LOWER; reports Q1 EPS of $0.21, 1 cent lower than the analyst estimate of $0.22. Revenues for the quarter were $2.21 billion, versus the consensus of $2.28 billion. Temporarily suspending guidance for FY09.

Fieldpoint Petroleum (AMEX: FPP) 9.3% HIGHER; despite crude oil trading relatively flat today, these small oil stocks are seeing heavy momentum today.

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