Unusual 11 Mid-Day Movers 9/14: ZOOM, SLXP, BRNC, HDY Higher; AMIE, ALXA, ALTI, CDE Lower

September 14, 2009 12:19 PM EDT

Zoom Technologies, Inc. (NASDAQ: ZOOM) 84.2% HIGHER; surging higher today after announcing the results of its recently approved acquisition, Gold Lion. The newly acquired company reported Q2 revenue increased 354% to $53.1 million; net income in the quarter grew to to $1.7 million, versus a net loss of $0.1 million last year; Gold Lion management's FY09 net revenue guidance in the range of $145-$155 million, versus $81 million in 2008; Gold Lion management's FY09 net income guidance in the range of $5.9-$6.1 million, versus $2.8 million in 2008.

Salix Pharmaceuticals, Ltd. (NASDAQ: SLXP) 50.8% HIGHER; announced the successful outcome of two Phase 3, randomized, double-blind, placebo-controlled, multicenter trials, TARGET 1 and TARGET 2, designed to evaluate the efficacy and safety of rifaximin 550 mg TID in the treatment of patients with non-constipation irritable bowel syndrome (non-C IBS). Click here for the full report.

Bronco Drilling (Nasdaq: BRNC) 32.2% HIGHER; the stock is rallying on heavy volume today, but we are not hearing any news that would justify today's sharp move higher.

Ambassadors International Inc. (Nasdaq: AMIE) 23.2% LOWER; announced a restructuring plan this morning to reduce its outstanding debt by up to $70.5 million. Click here for the full report. The stock initially traded higher on the news, but is now selling-off.

Hyperdynamics Corporation (Amex: HDY) 19.5% HIGHER; today announced that following a week of negotiations, Ray Leonard, Chief Executive Officer, and Minister of Mines, Energy and Hydraulics of the Republic of Guinea, Mahmoud Thiam, have signed a Memorandum of Understanding. The MOU is a binding agreement reaffirming the validity of Hyperdynamics' concession. Click here for the full report.

Keryx Biopharmaceuticals, Inc. (Nasdaq: KERX) 16.5% HIGHER; announced that Phase 2 data of KRX-0401 (perifosine), the Company's PI3K/Akt pathway inhibitor for cancer, as a single agent in the treatment of advanced metastatic renal cell cancer, has been selected for oral presentation at the Eighth International Kidney Cancer Symposium, to be held in Chicago from September 25-26, 2009.

YRC Worldwide (Nasdaq: YRCW) 15.5% HIGHER; shares are continuing higher once again today on very heavy volume. Since September 8th, shares of YRC have rallied almost 91%.

Alexza Pharmaceuticals, Inc. (Nasdaq: ALXA) 10.7% LOWER; announced preliminary results from its 366 patient Phase 2b clinical trial of AZ-104 in patients with migraine headache. Both AZ-104 dose groups trended towards statistical significance, but the study did not meet its primary endpoint, which was defined as pain-relief at the 2-hour time point, compared to placebo. There were no serious adverse events in the clinical trial, and AZ-104 was generally safe and well tolerated in this patient population.

Altair Nanotechnologies (Nasdaq: ALTI) 10.7% LOWER; correcting today following Friday's 30% spike.

Coeur d'Alene Mines (NYSE: CDE) 7.5% LOWER; RBC Capital downgrades the stock from Sector Perform to Underperform. Price target $5.25.

CTC Media (Nasdaq: CTCM) 5.8% LOWER; falling today on the back of a downgrade over at Bank of America Merrill Lynch. The firm moved its investment rating on the stock from Buy to Neutral, but raised its price target from $15.50 to $19.

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

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