Unusual 11 Mid-Day Movers 4/21: DDRX, ELX, THC, FRZ Higher; KNDL, HPGP, SCON, ZION Lower

April 21, 2009 12:59 PM EDT

Diedrich Coffee, Inc. (Nasdaq: DDRX) 87.6% HIGHER; reports Q3 EPS of $0.25, compared to a loss of $0.39 in the same quarter last year. Revenue for the quarter was $19.51 million, versus $11.32 million in Q3 last year.

Kendle International (Nasdaq: KNDL) 49.5% LOWER; announced last night that Q1 results will not meet analyst estimates. Kendle's management held a conference call this morning to discuss the revised outlook. Click here for the full report.

Emulex (NYSE: ELX) 43.9% HIGHER; Broadcom (Nasdaq: BRCM) offers to buy Emulex for $9.25 per share in cash. Click here for the full report.

Tenet Healthcare Corporation (NYSE: THC) 41.6% HIGHER; sees Q1 GAAP EPS of $0.37, or $0.08, ex-items, versus the analyst estimate of $0.00. Revenue for the quarter was $2.28 billion, versus the consensus of $2.32 billion. Raises its FY09 adj-EBITDA guidance from $735-$800 million to $760-$825 million. Net income is expected to be in the range of a loss of $55 million to net income of $75 million.

Reddy Ice (NYSE: FRZ) 39.4% HIGHER; not hearing any company-specific news that would justify today's sharp upside move. Technical traders may be watching this stock as, over the last few days, the stock has broken above its 15 and 50-day moving averages. Shares have already traded hands about 4x more than the stock's average daily volume of 100,000 shares.

Teck Cominco (NYSE: TCK) 29.8% HIGHER; reports Q1 EPS of $0.50, 15 cents better than the analyst estimate of $0.35. Separately, TCK announced that it has entered into a commitment letter to amend its existing $4 billion senior term loan facility and $5.81 billion senior bridge loan facility.

USG (NYSE: USG) 29.5% HIGHER; reports Q1 loss of $0.35 ex-items, cents better than the analyst estimate of ($0.73). Revenue for the quarter was $864 million, versus the consensus of $952.08 million. USG's liquidity at March 31, 2009 totaled $429 million, comprised of $223 million in cash and $206 million in borrowing availability under its revolving credit facility.

Hiland Holdings GP, LP (Nasdaq: HPGP) 20.4% LOWER; received an amendment from Harold Hamm related to the proposal to acquire all of the outstanding common units of each of the Hiland companies that are not owned by Mr. Hamm. Hamm lowered his proposal from $9.50 to $7.75 per common unit. Click here for the full report.

Superconductor Technologies Inc. (Nasdaq: SCON) 19% LOWER; announced that it will be participating with a major wireless original equipment manufacturer in a long-term evolution field trial with a tier-one U.S. wireless operator for its new 700 MHz network. Shares are likely correcting today as shares of SCON surged by more than 92%.

Zions Bancorp (Nasdaq: ZION) 17.5% LOWER; reports Q1 loss of $0.39, versus the analyst estimate of ($1.77).

New York Times (NYSE: NYT) 13.2% LOWER; reports a Q1 loss of $0.34, versus the consensus of a $0.04 loss. Revenues came in at $609 million, versus the consensus of $630.8 million. New York Times said Q1 ad revenues fell 27%. Sees Q2 drop in ad revenues similar to Q1.

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

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