Morning Movers 05/02: (GENE) (ICO) (VLCM) (SCOK) (DISH) Higher; (YRCW) Lower

Genetic Technologies (Nasdaq: GENE) 52% HIGHER; shares seem to be breaking out over a resistance level around $7 today. The stock surged sharply on Wednesday of last week as the company gained certification for the launch of its BREVAGen in the US.

International Coal Group, Inc. (NYSE: ICO) 30.8% HIGHER; Arch Coal, Inc. (NYSE: ACI) and International Coal have entered into a definitive agreement whereby Arch will acquire all of the outstanding shares of ICG for $14.60 per share, in an all-cash transaction valued at $3.4 billion.

Volcom Inc. (Nasdaq: VLCM) 23.7% HIGHER; PPR SA will acquire the company for $24.50 per share, or $607.50 million.

YRC Worldwide (Nasdaq: YRCW) 20.2% LOWER; has entered into definitive agreements with key stakeholders providing for their support of a comprehensive restructuring plan. The company reported that more than 95 percent of the senior secured lenders have now approved the restructuring documentation, as have 100 percent of the company's multi-employer pension funds, along with the International Brotherhood of Teamsters, and 100 percent of the lenders under the company's asset-backed securitization facility, in each case subject to the terms and conditions contained in the agreements.

SinoCoking Coal and Coke Chemical Industries, Inc. (Nasdaq: SCOK) 14.3% HIGHER; today announced that its planned joint-venture with the state-owned Henan Province Coal Seam Gas Development and Utilization Co., Ltd. has received its business license.

Dish Network Corp. (Nasdaq: DISH) 14.3% HIGHER; reported Q1 EPS of $1.22, $0.54 better than the analyst estimate of $0.68. Revenue for the quarter came in at $3.22 billion versus the consensus estimate of $3.23 billion. TiVo Inc. (Nasdaq: TIVO), DISH Network Corporation, and EchoStar Corporation (Nasdaq: SATS) announced today that they have settled all of their ongoing patent litigation.

Spectrum Pharmaceuticals (Nasdaq: SPPI) 13.6% HIGHER; received approval from the U.S. FDA for the use of FUSILEV (levoleucovorin) in combination with 5-fluorouracil in the palliative treatment of patients with advanced metastatic colorectal cancer. This new, expanded indication supplements the original 2008 FDA approval of FUSILEV.

Telestone Technologies (Nasdaq: TSTC) 9% HIGHER; continuing higher today following a large (100,000 shares) purchase by the Chairman. The stock was up more than 13 percent on Friday.

Harbin Electric, Inc. (Nasdaq: HRBN) 8.8% HIGHER; on April 20, 2011, Mr. Tianfu Yang and AGC submitted a proposal to the Company’s board of directors for the acquisition of all of the Publicly Held Shares through a Nevada corporation wholly owned by Parent for US$24.00 per share.

StemCells (Nasdaq: STEM) 8.6% HIGHER; continuing to run up following news Friday that an Appeals court lifted a ban on federal funding of research. The stock rose 10.7 percent on Friday.

OMNOVA Solutions (NYSE: OMN) 8.2% HIGHER; Jefferies upgraded the stock from Hold to Buy and raised their price target from $8.25 to $11, suggesting 33% upside.

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