Unusual 11 Mid-Day Movers 5/20: MXC, ENA, FPP, PEIX Higher; RAMR, CNTF, SMOD, GRRF Lower

May 20, 2008 1:21 PM EDT

Mexco Energy (AMEX: MXC) 46.2% HIGHER; after being halted for the majority of yesterday's trading session, shares of Mexco are reacting to the announcement that the company completed exploration on a well in Loving County, Texas. Here is StreetInsider's complete note on the results. Since Monday of last week, shares of Mexco have moved from $10.76 to over $40 today, representing a 270% return in just 7 days of trading.

Enova Systems, (AMEX: ENA) 32.1% HIGHER; announced yesterday after the close that it has entered into a Long Term Supply Agreement with IC Bus, a wholly owned affiliate of Navistar, Inc. and the nation's largest school bus manufacturer.

Fieldpoint Petroleum (AMEX: FPP) 30.1% HIGHER; likely surging today on the back of Mexco news. These micro cap oil & gas operators have been very momentous and extremely volatile lately.

RAM Holdings (Nasdaq: RAMR) 26% LOWER; reported a Q1 loss of $6.95, compared to a net profit of $0.52 in the same quarter last year.

Pacific Ethanol, Inc. (Nasdaq: PEIX) 23.7% HIGHER; continues to trend higher following yesterday's 60% move higher.

Continental Resources, Inc. (NYSE: CLR) 20.9% HIGHER; this morning announced initial results from its Bice 1-29H well completed in the Three Forks/Sanish formation in the North Dakota Bakken Shale area. During its initial seven days of production, Continental recorded an average flow rate of 693 barrels of crude oil equivalent per day.

Pyramid Oil (AMEX: PDO) 20.8% HIGHER; moving up today with many micro cap oil & gas operations stocks. Since the beginning of April, shares of Pyramid are up more than 500% from about $3 to over $20 today.

China TechFaith Wireless Com Tech (Nasdaq: CNTF) 16.6% LOWER; reports Q1 EPS of $0.07, 1 cent lower than the analyst estimate of $0.08. Revenues for the quarter were $49.6 million, versus the consensus of $48.67 million. Sees Q2 revs of $52-$54 million, versus the consensus of $52 million.

SMART Modular Technologies (Nasdaq: SMOD) 14.5% LOWER; today revised its previously issued Q3 earnings guidance: the company now expects sales of $150-$155 million, versus the consensus of $164.93 million and compared to $160 million in revs during the same quarter last year. SMART Mod. now sees Q3 non-GAAP EPS of $0.05-$0.07, versus the consensus of $0.17.

China GrenTech Corp. (Nasdaq: GRRF) 12.7% LOWER; reports a Q1 loss of $0.24, 1 cent worse than the analyst estimate of ($0.25). Revenues for the quarter were $10.2 million, versus the consensus of $8.41 million.

Smith & Wesson Holding Corporation (Nasdaq: SWHC) 10% LOWER; announced that it has priced a public offering of 6,250,000 shares of its common stock. The approximately $31.9 million of net proceeds from the offering will be used to repay bank debt and for general corporate purposes.

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