Unusual 11 Mid-Day Movers 7/10: DAN, ANTP, PRAN, APWR Higher; CIT, PSMT, SGR, SUSQ Lower

July 10, 2009 12:25 PM EDT

Dana (NYSE: DAN) 32.8% HIGHER; Barclays upgrades the stock from Equalweight to Overweight. Click here for the full report.

CIT Group (NYSE: CIT) 24.5% LOWER; sinking on fears that the FDIC will not guarantee the company's bond auction. CIT has responded, confirming that its application to participate in the TLGP remains outstanding. Despite the statement, shares of CIT are still down very sharply.

PHAZAR CORP (Nasdaq: ANTP) 25.1% HIGHER; announced today that Antenna Products Corp., a wholly owned subsidiary, has been awarded an Indefinite Delivery, Indefinite Quantity contract from the Federal Aviation Administration for the production of Mark 20 log periodic dipole antennas for replacement of existing Mark 20A LPD antennas. The antennas are used in the localizer portion of an Instrument Landing System. The localizer provides aircraft a reference to the centerline of a runway during an approach for landing. The contract is for a base year with four option years with a potential value of $3,000,000.

Prana Biotechnology (NASDAQ: PRAN) 23.2% HIGHER; announced that Dr. Craig Ritchie of Imperial College, London will present an update on the clinical efficacy of Prana's PBT2 drug for the treatment of Alzheimer's Disease at the 2009 International Conference on Alzheimer's Disease in Vienna, Austria. Click here to see the results.

A-Power Energy Generation Systems, Ltd. (Nasdaq: APWR) 16.9% HIGHER; is seeing upside action after the company announced that Shenyang Power Group Co., Ltd. , A-Power's majority-owned local DG industry alliance, has signed a Memorandum of Understanding (MOU) with Macau Natural Gas Co., Ltd. to construct an offshore liquefied natural gas complex to import, store and re-gasify LNG and to distribute natural gas to Macau and elsewhere.

PriceSmart, Inc. (NASDAQ: PSMT) 13.3% LOWER; reports Q3 EPS of $0.30, 3 cents lower than the analyst estimate of $0.33. Revenue for the quarter was $306.5 million, versus the consensus of $308.99 million.

AIG (NYSE: AIG) 12% HIGHER; shares are seeing substantial upside for the first time today since before the company did its 1-for-20 stock split on June 30.

Shaw Group, Inc. (NYSE: SGR) 9.9% LOWER; reports Q3 EPS of $0.57, ex-items, 3 cents lower than the analyst estimate of $0.60. Revenue for the quarter was $1.8 billion, versus the consensus of $1.80 billion. Sees FY09 EPS of about $2.00, versus the consensus of $2.22. Increasing FY09 guidance for operating cash flow to about $525 million.

Stein Mart (Nasdaq: SMRT) 9.6% HIGHER; after a 5.8% drop on worse-than-expected June same store sales numbers yesterday, the stock is catching a bid today amid a Johnson Rice upgrade to Overweight.

Susquehanna Bancshares (NASDAQ: SUSQ) 9.5% LOWER; anticipates that second quarter 2009 diluted earnings per common share will be below market expectations. This difference is primarily due to an expected increase in the provision for loan losses from $35.0 million in the first quarter of 2009 to $50.0 million in the second quarter of 2009, a FDIC insurance special assessment of $6.2 million, consolidation pre-tax charges of $2.9 million and an other than temporary impairment pre-tax charge of $0.9 million. The increase in provision for loan losses is primarily due to an increase in nonperforming loans from $156.0 million in the first quarter of 2009 to $230.2 million in the second quarter of 2009 and an increase in net charge-offs from $16.6 million to $24.6 million for the same periods.

Interpid Potash (NYSE: IPI) 8.2% LOWER; the ag names are getting crushed today, but we are not hearing any related news, however, hearing rumors of lower contract prices overseas.

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

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