Unusual 11 Mid-Day Movers 4/14: DNDN, PTEC, GKK, MIC Higher; TLB, GCI, CUBA, FITB Lower

April 14, 2009 12:37 PM EDT

Dendreon Corporation (Nasdaq: DNDN) 137% HIGHER; announced today that the pivotal Phase 3 IMPACT study of PROVENGE in men with advanced prostate cancer met its primary endpoint of improving overall survival compared to a placebo control. Click here to see details of this market-moving event.

Phoenix Technologies (Nasdaq: PTEC) 32% HIGHER; Roth Capital upgrades PTEC from Hold to Buy. Notably, after trading lower yesterday, the stock price appears to be holding above it's 20 and 50-day moving averages, meaning today's move is like the result of technical trades.

Gramercy Capital (NYSE: GKK) 29.3% HIGHER; momentum continues in this stock today. On the morning of April 8, Gramercy announced amended terms of a secured credit facility with Wachovia Bank. Since that day, the stock has risen by nearly 92%.

The Talbots, Inc. (NYSE: TLB) 25.2% LOWER; reports Q4 non-GAAP loss of $2,40 compared to a loss of $0.13 in the same quarter last year. Revenue for the quarter was $327.91 million, versus $427.68 million in Q407. Sees a Q1 loss of $0.47-$0.52, compared to EPS of $0.35 in the same quarter last year.

Macquarie Infrastructure Company (NYSE: MIC) 22.4% HIGHER; despite receiving a notice from the NYSE that the company's average market capitalization has fallen below the required $75 million level over a 30 trading-day period, the stock is surging on extremely heavy volume today.

Tier Technologies, Inc. (Nasdaq: TIER) 21.3% HIGHER; announced that its wholly-owned subsidiary, Official Payments Corporation, has been awarded a multi-year contract by the IRS to provide electronic payment solutions for personal and business taxes. Click here for the full report.

Gannett (NYSE: GCI) 19.7% LOWER; shares are correcting today following a more than 50% jump over the last week.

Herzfeld Caribbean Basin Fund (Nasdaq: CUBA) 15.7% LOWER; shares of CUBA surged more than 41% yesterday on news that the Obama administration will allow US telecom companies to apply for licenses in Cuba as part of a policy shift. The stock is likely correcting following such a large spike yesterday.

E*TRADE Financial (Nasdaq: ETFC) 15.5% HIGHER; following a 28% surge yesterday and 7% jump on Thursday, shares of E*TRADE have jumped over their 200-day moving average today. The stock is seeing extremely heavy volume: it has already traded more than 29 million times, nearly double its average daily volume of about 15 million shares.

Fifth Third Bancorp (Nasdaq: FITB) 14.5% LOWER; had its credit ratings downgraded by Moody's. Click here for more color.

Commerce Bancshares, Inc. (NASDAQ: CBSH) 11.1% LOWER; reported Q1 GAAP EPS of $0.40, versus the analyst estimate of $0.49.

To get this report daily visit http://www.streetinsider.com/entities/Unusual+11+Mid-Day+Movers.

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• Wachovia
• Roth Capital
• Unusual 11 Mid-Day Movers
• Barack Obama

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