Morning Movers 5/15: XOMA, ADY, EXEL, DRYS, WX, LVS, HIG Higher; RGDX, TBAC, GU Lower

May 15, 2009 9:43 AM EDT

XOMA Ltd. (Nasdaq: XOMA) 35.3% HIGHER; following yesterday's late day spike on news that XOMA's bacterial cell expression technology licensee UCB S.A. has received FDA approval to market CIMZIA(r) (certolizumab pegol). XOMA will receive royalty payments on sales of CIMZIA for this indication and will continue to receive royalties on sales of CIMZIA for the treatment of moderate to severe Crohn's disease, for which it was approved in April 2008. Momentum is continuing today as news hit that Zymeworks has entered into a research agreement with XOMA Ltd. to optimize an undisclosed antibody using Zymeworks' ZymeCAD(TM) suite of predictive protein engineering tools and XOMA's innovative Targeted Affinity Enhancement(TM) (TAE(TM)) technology for antibody mutagenesis and optimization.

American Dairy, Inc. (NYSE: ADY) 30.3% HIGHER; reports Q1 EPS of $1.55 vs. $0.40 consensus. (NOTE - only 1 analyst) Sales increased 191.1% to $113.8 million vs. consensus of $99 million.

Exelixis, Inc. (Nasdaq: EXEL) 24% HIGHER; spiking today following news that an ASCO study showed the company's experimental drug was shown to shrink brain tumors in some patients.

Response Genetics Inc. (Nasdaq: RGDX) 20.5% LOWER; reports Q1 loss of $0.30, compared to a loss of $0.17 in the same quarter last year. Revenue for the quarter was $1.5 million, versus $1.9 million in Q108.

Tandy Brands Accessories (Nasdaq: TBAC) 20% LOWER; reports a Q3 loss of $1.78 vs. consensus of $0.00 (breakeven) The 2009 third fiscal quarter results include a noncash inventory write-down of $7.5 million, and a charge of $844,000 associated with a corporate restructuring plan announced in January 2009. Revenues were $25.1 million vs. $33.99 million consensus.

Gushan Environmental Energy Limited (NYSE: GU) 16.5% LOWER; reports Q1 EPS of $0.01, in-line with the analyst estimate of $0.01. Revenue for the quarter was $39.9 million, versus the consensus of $45.44 million.

DryShips Inc. (Nasdaq: DRYS) 15% HIGHER; reached agreement with HSH Nordbank as agents on waiver terms for $654 million of our outstanding debt.

WuXi PharmaTech Co., Ltd. (NYSE: WX) 14.7% HIGHER; reports Q1 non-GAAP EPS of $0.20, versus the analyst estimate of $0.08. Revenue for the quarter was $59.1 million, versus the consensus of $58.45 million. Affirms its FY09 sales guidance of $265-$275 million, which compares to the Street estimate of $266.94 million.

Hartford Financial (NYSE: HIG) 13.9% HIGHER; was the first insurance company to announce that it received preliminary approval to receive TARP funds, getting a total of $3.4 billion in aid. Click here for the full report.

Immunomedics, Inc. (Nasdaq: IMMU) 13.2% HIGHER; today announced that adding epratuzumab to rituximab and combined cyclophosphamide, doxorubicin, vincristine, and prednisone chemotherapy (ER-CHOP) produced significant overall response including complete response in patients with newly diagnosed diffuse large B-cell lymphoma. Click here for the full report.

Lincoln National (NYSE: LNC) 12.4% HIGHER; see Hartford.

Genomic Health, Inc. (Nasdaq: GHDX) 12.3% HIGHER; announced positive results from the landmark QUASAR validation study, which demonstrated that the Oncotype DX(R) colon cancer test can independently predict individual recurrence risk in stage II colon cancer patients following surgery. Click here for full details.

Protective Life (NYSE: PL) 11.2% HIGHER; see Hartford.

The Middleby Corporation (NASDAQ: MIDD) 11.2% HIGHER; reports Q1 EPS of $0.77, 16 cents better than estimates. Revenues were $181,546,000 vs. $167.38 million consensus.

FUQI International, Inc. (Nasdaq: FUQI) 10.9% HIGHER; reports Q1 EPS of $0.45, 11 cents better than the analyst estimate of $0.34. Revenue for the quarter was $109.4 million, versus the consensus of $111.06 million. Sees Q2 sales of $89.5-$93.5 million, versus the consensus of $95.74 million, with EPS of $0.27-$0.32, versus the consensus of $0.29. Sees FY09 Sales of $442-$465 million. Raises its FY09 EPS guidance from $1.35-$14.1 to $1.49-$1.63. The Street is expecting FY09 sales and EPS of $469.44 million and $1.44, respectively.

Novavax, Inc. (Nasdaq: NVAX) 10.4% HIGHER; announced today that enrollment has been completed in the second Phase II clinical trial of its trivalent virus-like particle seasonal influenza vaccine.

Zale (NYSE: ZLC) 9.5% HIGHER; upgraded to Buy at BofA. Also raised the price target from $1.60 to $5.

Yingli Green Energy Holding Company Limited (NYSE: YGE) 8.7% HIGHER; today announced it has entered into an exclusive supplier framework agreement with AES Solar Energy, Ltd, a leading global developer, owner and operator of utility-scale solar plants. Under the terms of the agreement, Yingli Green Energy will be AES Solar's exclusive supplier of polycrystalline PV modules expected to be purchased by AES Solar for use in solar projects in major PV markets for a term of three years.

Las Vegas Sands Corp. (NYSE: LVS) 8.5% HIGHER; LVS shares are seeing interest this morning on reports the company hired Goldman Sachs to evaluate a potential Hong Kong IPO for its Macau unit.

BioCryst Pharmaceuticals (Nasdaq: BCRX) 7% HIGHER; announced long-term data from a Phase 2 study of forodesine, the Company's lead oncology compound, in patients with cutaneous T-cell lymphoma. The data will be presented at the 45th Annual Meeting of the American Society of Clinical Oncology being held in Orlando, Florida from May 29-June 2. Forodesine is a transition-state analog inhibitor of purine nucleoside phosphorylase, a purine salvage pathway enzyme that is essential for the proliferation of T-cells and B-cells.

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