Unusual 11 Mid-Day Movers 4/15: DFR, HGSI, SPF, IP Higher; INFI, RJF, KONA, LUFK Lower

April 15, 2009 1:05 PM EDT

Deerfield Capital Corp. (AMEX: DFR) 36% HIGHER; shares are continuing higher today following a mid-day announcement yesterday that the company has entered into a new investment venture with Pegasus Capital Advisors. Pegasus will invest $75 million in corporate bank loans and other senior secured corporate loans.

Infinity Pharmaceuticals, Inc. (Nasdaq: INFI) 33.9% LOWER; today announced that, based on the recommendation of its independent data monitoring committee, Infinity has elected to terminate the RING trial, a double-blind, placebo-controlled international Phase 3 registration trial of IPI-504 (retaspimycin hydrochloride) in patients with refractory gastrointestinal stromal tumors

Human Genome Sciences (Nasdaq: HGSI) 25.5% HIGHER; after breaking through the $1 level for the first time since the beginning of March on Monday, shares of HGSI held above that level yesterday. The successful (so far) test of this technical level has traders buying the stock today.

Standard Pacific (NYSE: SPF) 25% HIGHER; the entire homebuilder sector is trading higher today on the back of a bullish sector note from an analyst at Wachovia. The analyst said the group could see a near-term rally as the short-term future for these stocks is "looking brighter". Elsewhere on the analyst front, Credit Suisse said it expects consolidation in the sector, specifically naming Ryland (NYSE: RYL), Toll Brothers (NYSE: TOL) and MDC Holdings (NYSE: MDC) as the best takeover targets. Also, a Fitch analyst indicated that fundamentals in the sector could be improving. Traders are also buying stocks in the sector today in anticipation of the release of the National Association of Home Builders' builder confidence report. This survey is supposed to be out around 1pm ET.

International Paper (NYSE: IP) 23.1% HIGHER; moving higher on a Deutsche Bank upgrade from Hold to Buy. Click here to see color on the upgrade.

Raymond James Financial (NYSE: RJF) 19.7% LOWER; announced today that results for its Q2 will be well below the current consensus analysts' estimate of $0.37 per share. Click here for the full report.

Delta Petroleum (Nasdaq: DPTR) 19% HIGHER; this stock has been extremely hot so far this month. Since the 1st of April, shares of this oil & gas stock have surged by more than 200%. Notably, the stock has only traded down twice in April.

AMR Corporation (NYSE: AMR) 18.5% HIGHER; reports Q1 loss of $1.35, versus the analyst estimate of ($1.68). Revenue for the quarter was $4.8 billion, versus the consensus of $4.73 billion. Sees Q2 mainline capacity down 7.5%, domestic capacity down 11% and international capacity down 2% from Q208 levels. Sees Fy09 mainline capacity down about 6.9%, domestic capacity down 9% and international capacity down 2.5% from 2008 levels.

Kona Grill (Nasdaq: KONA) 16.9% LOWER; shares are correcting today following a 41% surge over the last 2 days on news that Kona sees a better-than-expected Q1 loss.

Lufkin Industries, Inc. (Nasdaq: LUFK) 16.7% LOWER; reports Q1 EPS of $0.74, ex-items, versus the analyst estimate of $1.42. Revenue for the quarter was $153.1 million, versus the consensus of $187.69 million.

Burger King (NYSE: BKC) 14.2% LOWER; reports preliminary Q3 EPS of $0.33-$0.35, versus the consensus of $0.33. Q3 revs came in at $600 million, versus the Street estimate of $625.79 million. Same store sales rose 1% during the quarter.

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

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• Credit Suisse
• Deutsche Bank
• Raymond James
• Wachovia
• Unusual 11 Mid-Day Movers

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