StreetInsider.com Unusual 11 Mid-Day Movers 10/18

October 18, 2007 12:15 PM EDT

Sharper Image Corp. (Nasdaq: SHRP) 56.2% HIGHER; since June, shares of Sharper Image have dropped over 75% from $14 to under $2. After setting a new 52-week low yesterday, several members of management have decided to buy shares of their company. Six executives including the CEO and Vice President bought shares of Sharper Image totaling $407,820 early this morning. For investors, the move by management certainly alleviates speculation about Sharper Image filing for bankruptcy.

IMS Health (NYSE: RX) 21.4% LOWER; reported Q3 EPS of $0.36, 4 cents lower than the analysts estimates of $0.40. Revenues for the quarter were $538.8 million, versus the consensus of $532.71 million. Adding to the downside, Robert Baird downgraded IMS to Underperform with a $24 price target.

Logitech International (Nasdaq: LOGI) 18.9% HIGHER; announced record sales and operating profit for the second quarter of Fiscal Year 2008. Sales were $595 million, up 19 percent from $502 million in the same quarter last year. Operating income was $80.4 million, up 54 percent from $52.2 million for the same quarter a year ago.

LJ International (Nasdaq: JADE) 16.1% LOWER; disclosed that three of its independent directors involved in its Audit Committee resigned today. JADE said that each of the directors left for personal reasons primarily related to the recently filed federal lawsuit. Furthermore, the Company noted that none of the directors were in disagreement with the Board of Directors at the time of their resignations.

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Fairchild Semiconductor International (NYSE: FCS) 14.1% HIGHER; reported third quarter earnings this morning, beating the Street EPS estimate by a penny. Fairchild announced it's investors made $0.16 per share, versus the analyst consensus of $0.15. The Company also guided fourth quarter revenues above the third quarter results.

Nektar Therapeutics (Nasdaq: NKTR) 14% LOWER; announced that Pfizer Inc. (NYSE: PFE) will be ending its investment in inhaled diabetes drug Exubera and will be returning the licensing rights to Nektar.

Aspreva Pharmaceuticals Corporation (NASDAQ: ASPV) 13.8% HIGHER; entered into a combination agreement with Galenica Group under which Galenica will acquire all of Aspreva's outstanding shares at a price of US$26.00 per share in cash. The total value of the transaction is approximately US$915 million.

Vertex Pharmaceuticals Inc (Nasdaq: VRTX) 12.5% LOWER; shares tumbled today after Schering-Plough (SGP) announced its experimental hepatitis C drug returned positive results in a Phase II trial of patients who had never previously been treated for their infections related to hepatitis C. Vertex's hepatitis C drug, Telaprevir, has obviously been beaten to the punch.

Callaway Golf (NYSE: ELY) 11.4% HIGHER; announced yesterday after the close that it expects to report EPS in the range of $0.04 to $0.06, excluding charges, for the third quarter. The analyst consensus for Q3 EPS is ($0.05). Additionally, Callaway also boosted its full-year EPS to within the range of $0.85 to $0.89, up from $0.78 to $0.84. The Street consensus for FY07 is $0.84.

Paragon Shipping (Nasdaq: PRGN) 9% HIGHER; Jim Cramer highlights on CNBC's Mad Money

Washington Mutual (NYSE: WM) 8.5% LOWER; reported Q3 EPS of $0.23, 4 cents lower than the analysts estimates of $0.27.

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