Morning Movers 6/10: JAZZ, CDIC, GRH, SHFL, AMRN Higher; SATC, MRNA, EFUT, NCS, SINA Lower

June 10, 2009 9:36 AM EDT

Jazz Pharmaceuticals, Inc. (Nasdaq: JAZZ) 71.6% HIGHER; announced after the close that data from the company's first Phase III clinical trial of sodium oxybate (JZP-6) for the treatment of fibromyalgia will be presented this week during the Associated Professional Sleep Societies 2009 Annual Meeting in Seattle, Washington and also during the European League Against Rheumatism Congress in Copenhagen, Denmark. The data at APSS will be presented on June 10 and June 11 and at EULAR on June 12.

CardioDynamics International Corporation (Nasdaq: CDIC) 67.9% HIGHER; SonoSite, Inc. (Nasdaq: SONO) today announced that it has reached an agreement to acquire CardioDynamics. Under the terms of the agreement, SonoSite will acquire CardioDynamics in exchange for $1.35 per share in cash. The aggregate transaction value will be approximately $10.0 million, or $12.3 million net of cash and debt. With shares of CardioDynamics closing at $0.78 today, the offer represents a premium of 73%. Click here for the full report.

Satcon Technology Corporation (Nasdaq: SATC) 28.9% LOWER; today announced that it has priced its previously announced public offering of 15,557,692 shares of its common stock at a price to the public of $1.30 per share. The gross proceeds to Satcon, before expenses, from the sale of shares are expected to be $20,225,000. Satcon also granted the underwriters an option to purchase up to an additional 2,333,654 shares of its common stock. The closing of the offering is expected to take place on June 15, 2009.

GreenHunter Energy (AMEX: GRH) 26.3% HIGHER; continuing to see investor interest today following yesterday's 63% surge. As the company is involved in the acquisitions of assets in the renewable energy sector, the recent jump may be on the back of rising crude oil, which closed above the $70 mark yesterday for the first time in 7-months.

Shuffle Master, Inc. (Nasdaq: SHFL) 25.8% HIGHER; reports Q2 EPS of $0.10, 6 cents better than the analyst estimate of $0.04. Revenue for the quarter was $45.3 million, versus the consensus of $43.03 million.

Amarin Corporation plc (NASDAQ: AMRN) 25% HIGHER; announced encouraging top line results from an exploratory Phase 2a multi-centre, dose-ranging, cross-over clinical study of EN101 in patients with myasthenia gravis, a chronic autoimmune disease characterized by muscle weakness which can be life-threatening. Click here for the full report.

ModusLink Global Solutions™, Inc. (NASDAQ: MLNK) 23.8% HIGHER; reports Q3 loss of $0.04, compared to a loss of $0.05 in the same quarter last year. Revenue for the quarter was $231.47 million, versus $239.20 million in Q308.

MDRNA, Inc. (NASDAQ: MRNA) 18.5% LOWER; to sell 5.25 million shares of its common stock at $2.00 per share. As part of the transaction, the investors also will receive warrants, with a five and a half year term, to purchase 5.25 million shares of common stock at an exercise price of $2.38 per share. Click here for the full report.

eFuture Information Technology Inc. (Nasdaq: EFUT) 17.5% LOWER; reports Q1 loss of $0.29, or a loss of RMB1.96, compared to a loss of RMB3.14 in the same quarter last year. Revenue for the quarter was $2.05 million, or RMB13.98 million, compared to RMB14,01 million in the same quarter last year. To better reflect its strong sales pipeline to date, particularly as a result of a rebound in its Logistics SBU, eFuture revised up 2009 revenue guidance to be in the range of US$28 million to US$29 million, representing annual growth of 38% to 40% over 2008 total revenues. Adjusted EBITDA (non- GAAP) is expected to be in the range of approximately US$5.1 million to US$6.1 million. This forecast is a current and preliminary view and is subject to change.

Peregrine Pharmaceuticals, Inc. (Nasdaq: PPHM) 14.3% HIGHER; announced that the ASCO Research Foundation has awarded one of its 2009 Career Development Awards to David Gerber, MD, of the University of Texas Southwestern Medical Center for a study of the biologic effects of bavituximab and chemotherapy in patients with advanced lung cancer. Bavituximab is a monoclonal antibody with a unique mechanism that allows the body's own immune system to recognize and act on the tumor and its supporting blood vessels, resulting in anti-cancer effects. Here is the full report.

NCI Building Systems, Inc. (NYSE: NCS) 11.5% LOWER; reports Q2 non-GAAP loss of $0.37, 1 cent worse than the analyst estimate of ($0.36). Revenue for the quarter was $224.7 million, versus the consensus of $255.21 million.

Isle of Capri Casinos, Inc. (Nasdaq: ISLE) 11.2% HIGHER; reports Q4 EPS from continuing operations of $0.78, versus the analyst estimate of ($0.03) and compared to the ($0.20) reported in the same quarter last year. Revenue for the quarter was $287.2 million, versus the consensus of $279.70 million.

Satyam (NYSE: SAY) 11% HIGHER; continuing higher today following yesterday's 34% jump on solid earnings. A JPMorgan upgrade to Overweight is helping.

Evergreen Solar (Nasdaq: ESLR) 10.8% HIGHER; with oil now back over $71, alternate energy stocks are coming back into play. Notably, shares of Evergreen rose more than 5% yesterday. With traders bidding the stock up over $2 in the pre-market session, technicians seem to be jumping into the stock today.

Lear (NYSE: LEA) 10.7% HIGHER; gains yesterday are following through today.

American Axle (NYSE: AXL) 9.2% HIGHER; trading higher for similar reasons as Lear.

SINA Corporation (Nasdaq: SINA) 8% LOWER; reports Q1 EPS of $0.23, ex-items, 1 cent better than the analyst estimate of $0.22. Revenue for the quarter was $73.8 million, versus the consensus of $75.44 million. Sees Q2 revs of $85-$89 million, versus the consensus of $90.7 million. Also downgraded to Sell at Deutsche Bank and Citi, and downgraded to Hold at Pali Research.

FBR Capital Markets Corporation (Nasdaq: FBCM) 7.1% LOWER; announced today the commencement of a public offering of 20,000,000 shares of its common stock, par value $0.001 per share. The underwriters will be granted a 30-day option to purchase up to an additional 3,000,000 shares of FBR Capital Markets common stock to cover over-allotments, if any, from a selling stockholder that is a wholly-owned subsidiary of Arlington Asset Investment Corp. If the underwriters' over-allotment option is exercised, FBR Capital Markets will not receive any of the net proceeds from the sale of shares by the selling stockholder pursuant to any exercise of the underwriters' over-allotment option.

LaSalle Hotel Properties (NYSE: LHO) 6.5% LOWER; plans to sell 6,500,000 common shares in an underwritten public offering pursuant to its effective shelf registration statement previously filed with the SEC. The Company intends to use the net proceeds of this offering to reduce amounts outstanding under its senior unsecured credit facility and under the unsecured credit facility of the Company's taxable REIT subsidiary, LaSalle Hotel Lessee, Inc., and for general corporate purposes.

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