Unusual 11 Mid-Day Movers 8/27: SINT, TLB, BGP, SIFY Higher; NEXM, CEGE, AMLN, BKUNA Lower

August 27, 2008 12:15 PM EDT

StreetInsider.com Unusual 11 Mid-Day Movers:

NexMed, Inc. (Nasdaq: NEXM) 81.6% LOWER; announced that based on First Interpretable Results of Phase III clinical studies for NM100060, a topical application of terbinafine formulated with NexACT(R) for the treatment of onychomycosis, the decision has been taken not to submit a New Drug Application with the Food and Drug Administration at this time.

Cell Genesys, Inc. (Nasdaq: CEGE) 72.5% LOWER; terminated VITAL-2, the second of two Phase 3 clinical trials of GVAX immunotherapy for prostate cancer, which compares GVAX immunotherapy in combination with Taxotere(R) (docetaxel) to Taxotere plus prednisone in patients with advanced-stage prostate cancer. The Company ended the trial as recommended by its Independent Data Monitoring Committee (IDMC) which, in a routine safety review meeting held this week, observed an imbalance in deaths between the two treatment arms of the study.

SI International, Inc. (Nasdaq: SINT) 35.4% HIGHER; Serco Inc., the U.S.-based division of leading international service company Serco Group plc, and SI International, Inc. (Nasdaq: SINT) entered into a definitive merger agreement. Under the agreement, Serco will acquire SI International for $32 per share in cash, or an aggregate purchase price on a fully diluted share basis of approximately $423 million.

The Talbots, Inc. (NYSE: TLB) 27.7% HIGHER; reports a Q2 non-GAAP loss of $0.39, 5 cents lower than the analyst estimate of ($0.34). Revenues for the quarter were $528 million, versus the consensus of $532 million. Consolidated same store sales for the quarter came in at down 12%. Total close down costs of its non-core assets are expected to be a loss of $0.27-$0.32, compared to Talbot's previous estimates of $0.59-$0.64.

Amylin Pharmaceuticals Inc. (Nasdaq: AMLN) 25.4% LOWER; Eli Lilly (NYSE: LLY) and Amylin reveal 4 additional deaths from Byetta

Borders Group Inc. (NYSE: BGP) 20.5% HIGHER; reports a Q2 GAAP loss of $0.19, versus the analyst estimate of ($0.29). Revenues for the quarter were $749.2 million, versus the consensus of $782.89 million.

Sify Technologies Limited (Nasdaq: SIFY) 20.4% HIGHER; announced its agreement with Google Inc. (Nasdaq: GOOG) to bring the Google Apps suite of communication and collaboration tools, including email, chat and online documents, to Indian Internet users. Google Apps will now power Sifymail and chat, as well as other applications using the Google Apps platform, which would be leveraged across Sify's fast expanding Network Infrastructure, reaching out to over a million users across India and abroad.

BankUnited Financial Corporation (NASDAQ: BKUNA) 17.5% LOWER; said it is pursuing alternative sources of capital and strategic opportunities in addition to those previously announced. The Company held a special meeting of stockholders at which stockholders approved an amendment to the company's Articles of Incorporation to increase the authorized shares of Class A Common Stock from 200,000,000 shares to 500,000,000 shares.

Freddie Mac (NYSE: FRE) 13.6% HIGHER; despite a price target cut at Merrill Lynch this morning, shares are up this morning on a Bloomberg report that debt costs have risen to record highs above U.S. Treasuries as the crisis of confidence is still hitting these companies. However, these mortgage-finance companies are also earning their biggest profits on new investments since at least 1998.

SiRF Technology (Nasdaq: SIRF) 12.1% HIGHER; after Broadcom (Nasdaq: BRCM) announced yesterday morning that an Administrative Law Judge has recommended that the U.S. International Trade Commission bar from importation into the U.S. infringing chips of SiRF, and all downstream products that incorporate those chips, SiRF fell more than 24% only rebound mid-day and nearly make up all of its losses. Today, the stock is trading up once again and is no just about flat from where it was on Monday prior to the Broadcom announcement.

China Nepstar Chain Drugstore Ltd. (NYSE: NPD) 10.8% LOWER; reports Q2 EPS of $0.08. Revenues for the quarter were $85 million. Same store sales for the quarter came in at down 1.3%. Sees Q3 sales in the range of RMB550-RMB570 million.

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