Morning Movers 8/11: AVNR, RWC, HLCS, ANPI, ANDS, AGM Higher; JAV, BIDZ, PETD, AHR, CIT, FTK, CLNE Lower

August 11, 2009 9:50 AM EDT

AVANIR Pharmaceuticals, Inc. (NASDAQ: AVNR) 84.4% HIGHER; announced that the investigational drug Zenvia met its primary efficacy endpoint in the treatment of pseudobulbar affect in the confirmatory Phase III STAR trial. Click here for the full report.

RELM Wireless Corporation (NYSE: RWC) 51.2% HIGHER; announced that it has been awarded an order totaling $1.8 million from the U.S. Department of Defense. This order is for the Company's new digital P25 KNG products and accessories. It is anticipated that the order will be largely fulfilled during the third quarter of 2009.

Helicos BioSciences Corporation (NASDAQ: HLCS) 50% HIGHER; announced late yesterday the publication of a breakthrough study in which a Helicos(TM) Genetic Analysis System was used to sequence a human genome at the Stanford Institute for Stem Cell and Regenerative Medicine. The research article, now appearing in the on-line edition of Nature Biotechnology, demonstrates the power, accuracy and ease-of-use of the Helicos System. Here is the full report.

Javelin Pharmaceuticals, Inc. (NYSE: JAV) 30.8% LOWER; described its initial review of top line results from a Phase III study of Ereska(TM) (intranasal ketamine 30mg). This randomized, multicenter, double-blind, 1:1 placebo-controlled study assessed the safety and analgesic efficacy of repeated doses of Ereska over 6 hours in 259 patients with acute moderate-to-severe pain following orthopedic surgery.

Angiotech Pharmaceuticals, Inc. (NASDAQ: ANPI) 29.8% HIGHER; announced that license holder Cook Medical reported CE Mark approval and limited commercial launch of the Zilver® PTX® Drug-Eluting Peripheral Stent in Europe. Angiotech said this approval represents a global landmark in bringing drug-eluting stent technology to people suffering from peripheral artery disease

Anadys Pharmaceuticals, Inc. (Nasdaq: ANDS) 25.5% HIGHER; announced viral load data for the final cohort of hepatitis C patients in a Phase I clinical trial of ANA773, the Company's oral inducer of endogenous interferons that acts via the toll-like receptor 7 (TLR7) pathway. Click here for the full report.

BIDZ.com (Nasdaq: BIDZ) 21.9% LOWER; reports Q2 EPS of $0.03, 2 cents worse than the analyst estimate of $0.05. Revenue for the quarter was $26.9 million, versus the consensus of $30.04 million. BIDZ.com sees Q3 GAPP EPS of $0.01-$0.03, versus the consensus of $0.06. BIDZ.com sees Q3 revenues of $22-$24 million, versus the consensus of $29.6 million.

Petroleum Development (Nasdaq: PETD) 21.6% LOWER; reports Q2 EPS of ($0.25), 21 cents below the analyst estimate of ($0.04). The stock was also downgraded to Sector Perform at RBC Capital.

Anthracite Capital, Inc. (NYSE: AHR) 21.5% LOWER; reports Q2 EPS of $0.07, versus the analyst estimate of $0.04, or a loss of $1.39 on an unadjusted basis.

The Federal Agricultural Mortgage Corporation (Farmer Mac) (NYSE: AGM) 20.8% HIGHER; reports Q2 EPS of $2.49, compared to $2.13 in the same quarter last year. Core earnings for the quarter came in at $0.46, which compares to last year's $0.70 in Q2.

CIT Group (NYSE: CIT) 18.2% LOWER; filed to delay their 10-Q, but said bondholders do not intend to for the Company to seek relief under the U.S. Bankruptcy Code. Click here for the full report.

Origin Agritech (Nasdaq: SEED) 17.2% HIGHER; reports Q3 earnings of $0.48 per share, versus $0.38 last year. Revenues came in at $69.84 million, versus $71.54 million last year. Origin Agritech also reaffimrs its forecast for revenue in a rnge of RMB 560 million to RMB 580 million.

ShengdaTech (Nasdaq: SDTH) 17.1% HIGHER; reports Q2 EPS of $0.12, 5 cents better than the analyst estimate of $0.07. Revenue for the quarter was $26.3 million, versus the consensus of $22.29 million.

Fannie Mae (NYSE: FNM) 16% HIGHER; continuing higher today follow yesterday's 51% jump on better-than-expected earnings on Friday.

Flotek Industries, Inc. (NYSE: FTK) 15.2% LOWER; reports Q2 loss of $1.01, which does not compare to the analyst estimate of ($0.08). Revenue for the quarter was $23.5 million, versus the consensus of $37.17 million. The company also announced that it has entered into definitive purchase agreements with accredited investors with respect to the private placement of convertible preferred stock and warrants to purchase shares of common stock, for gross proceeds of approximately $16 million. In addition, Flotek announced that it has entered into an amendment to its bank credit facility to waive covenant violations and relax future financial covenant requirements. More from the release. Finally, Flotek also announced that Jerry Dumas, Chairman, President and CEO, has announced his plans to retire from Flotek in 2010

Clean Energy (Nasdaq: CLNE) 14.9% LOWER; reports Q2 loss of $0.01, ex-items, 6 cents better than the analyst estimate of ($0.07). Revenue for the quarter was $27.9 million, versus the consensus of $31.46 million.

Human Genome Sciences, Inc. (Nasdaq: HGSI) 11.8% HIGHER; Leerink Swann raises its price target on the stock to a 'Street High" $30 per share from $16, reiterating their Outperform rating. Could also be moving higher on the Helicos news.

Bridgepoint Education (NYSE: BPI) 11.8% HIGHER; reports Q2 EPS of $0.34, ex-items, 11 cents better than the analyst estimate of $0.23. Revenue for the quarter was $110.9 million, versus the consensus of $99.24 million. Total student enrollment increased 101.3% year-over-year to 45,504 at the end of the quarter. Sees FY09 non-GAAP EPS of $1.00-$1.02, which compares to the Street estimate of $0.87. Total student enrollment is expected to be between 48,000 and 49,000 at December 31, 2009.

PAREXEL International Corporation (Nasdaq: PRXL) 11.4% LOWER; reports Q4 EPS of $0.27, ex-items, in-line with the analyst estimate of $0.27. Revenue for the quarter was $268.4 million, versus the consensus of $274.84 million. Sees Q1 sales of $263-$268 million, versus the consensus of $275.61 million, with EPS of $0.16-$0.18, versus $0.24. Sees FY10 sales of $1.12-$1.15 billion with EPS of $0.85-$0.95. The Street is currently looking for FY10 sales and EPS of $1.14 billion and $1.06, respectively.

Lions Gate (NYSE: LGF) 10.8% HIGHER; reports Q1 EPS of $0.30 (includes items) which may not compare to the analyst estimate of ($0.05). Revenue for the quarter was $387.7 million, versus the consensus of $330.63 million.

Brigham Exploration Company (NASDAQ: BEXP) 10.8% HIGHER; announced yesterday that the Anderson 28-33 #1H produced approximately 2,154 barrels of oil equivalent per day from the Bakken formation during its early 24 hour flow back period. Brigham's Anderson 28-33 #1H well, to our knowledge, is the first successful 24 stage fracture stimulation completion in the Williston Basin. The stock was also upgraded to Overweight at Thomas Weisel.

Cardiome Pharma Corp. (NASDAQ: CRME) 10.6% LOWER; reports Q2 loss of $0.02, versus the analyst estimate of ($0.11) and compared to ($0.28) in the same quarter last year. Revenue for the quarter was $8.6 million, versus the consensus of $5.86 million.

MBIA (NYSE: MBI) 10.5% LOWER; JP Morgan downgrades from Neutral to Underweight, citing earnings quality and more potential losses.

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