Unusual 11 Mid-Day Movers 7/8: ABK, ARTE, ERII, ALTI Higher; IMB, ODP, VMW, IDCC Lower

July 8, 2008 12:45 PM EDT

StreetInsider.com Unusual 11 Mid-Day Movers:

IndyMac Bancorp (NYSE: IMB) 43% LOWER; said it won't accept new loan submisson, hasn't been succesful in raising added capital. Regulators says firm no longer 'well-capitalized."

Office Depot, Inc. (NYSE: ODP) 33% LOWER; As a result of additional pressure from weakening business conditions in Q2, North American Retail comparables fell 10% versus the prior year and total sales were down slightly. Office Depot anticipates its EBIT margin to have declined for Q2 by 200 basis points more than the 200-250 bps decline previously indicated on a year-over-year basis as sales trends worsened late in the quarter.

Ambac Financial Group, Inc. (NYSE: ABK) 29.5% HIGHER; has released information about collateral requirements and terminations of its investment agreement business related to recent actions by the rating agencies. "Despite the challenging current environment, it is important for us to continually communicate that we have ample liquidity to manage our commitments going forward,� said Chairman and Chief Executive Officer, Michael Callen, “Our company-wide resources available are a multiple of any conceivable collateral or termination requirement in our financial services businesses."

Artes Medical, Inc. (NASDAQ: ARTE) 26.7% HIGHER; has signed an exclusive agreement with Anika Therapeutics (Nasdaq: ANIK), in which Artes will distribute and market ELEVESS(TM), Anika's cross-linked hyaluronic acid-based (HA) injectable dermal filler.

VMware (NYSE: VMW) 26.3% LOWER; today announced that its President and CEO, Diane Greene, will be leaving the company. VMware's Board has appointed Paul Maritz to fill these positions, effective immediately. VMware also said that it expects revenues for FY08 will be modestly below the previous guidance of 50% growth over 2007.

Energy Recovery, Inc. (NASDAQ: ERII) 25.9% HIGHER; today announced that legendary radiation-chemistry pioneer Paul Cook joined the Company's Board of Directors.

InterDigital (Nasdaq: IDCC) 25.3% LOWER; evidentiary hearing in the company's U.S. International Trade Commission investigation against Samsung began today. The Commission Staff has initially recommended a finding of no violation by Samsung, although the Staff's recommendation is not binding.

Altair Nanotechnologies Inc. (NASDAQ: ALTI) 24% HIGHER; today announced the successful completion of a demonstration and validation program for a two-megawatt 500 kilowatt-hour battery system purchased by AES Corporation (NYSE: AES).

PriceSmart, Inc. (NASDAQ: PSMT) 21% HIGHER; reports Q3 EPS of $0.36, compared to $0.18 in Q307. Revenues for the quarter were $283.7 million, compared to $224.3 million in the same quarter last year.

Pyramid Oil (AMEX: PDO) 19% LOWER; the price of crude oil is sinking today: crude most recently traded around $136.60, down nearly $5 on the day. Other speculative oil plays down today: Fieldpoint Petroleum (AMEX: FPP) 10% and Mexco Energy (AMEX: MXC) 9.7%.

Radian Group (NYSE: RDN) 18.4% HIGHER; continues to move higher today after it responded on Thursday to recent price declines by noting several indications of fundamental strength in its core businesses. Additionally, yesterday Radian announced two significant management changes.

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