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Morning Movers 6/14: DOVR, NLST, TOF, PHC, CTIB, CHLN, CTIC Higher; ADG, CTT, RPRX Lower

June 14, 2010 10:33 AM EDT Send to a Friend
Dover Saddlery (Nasdaq: DOVR) 31.2% HIGHER; despite heavy volume on a normally-thinly traded stock, shares are rebounding nicely over the $3 level after dipping below this technical level on Tuesday of last week.

Netlist (Nasdaq: NLST) 28.2% HIGHER; continuing higher today following news last week that its HyperCloud memory module has been selected to run on Viglen servers to support High Performance Computing applications. The stock jumped 30% on Friday amid the news. Momentum in this stock seems to be returning.

Tofutti Brands (NYSE: TOF) 20% HIGHER; continuing higher this week and pushing over the $4 level following news last week of the development of three new food products. The stock jumped 15% on the news last week.

PHC, Inc., d/b/a Pioneer Behavioral Health (AMEX: PHC) 19.5% HIGHER; announced today that its Board of Directors has authorized the repurchase of up to one million shares of its Class A common stock for a one-year period commencing July 1, 2010.

Allied Defense Group (NYSE: ADG) 16.1% LOWER; share have been breaking down technically and continue to do so this week. The stock fell 23% last week. Shares haven't been below the $2 level since 1990!

CTI Industries (Nasdaq: CTIB) 14.6% HIGHER; shares have broken above the $6 resistance level today, pushing to a new 52-week high. Volume is very heavy today.

China Housing & Land Development, Inc., (Nasdaq: CHLN) 14.5% HIGHER; today announced that the Company has reached agreements with major investors to retire approximately US$10 million of non convertible portion of the US$20 million 5% Senior Secured Convertible Notes, which were issued to the investors in January 2008. The investors also agreed to exercise all their outstanding warrants associated with the 5% Senior Secured Convertible Notes.

Cell Therapeutics, Inc. (Nasdaq: CTIC) 14.3% HIGHER; today announced that the Italian Medicines Agency, the national authority responsible for drug regulation in Italy, has approved the facility at NerPharMa DS (a pharmaceutical manufacturing company belonging to Nerviano Medical Sciences Srl, in Nerviano, Italy) for the production of CTI's drug candidate pixantrone. CTI is in the process of preparing a Marketing Authorization Application in the European Union for pixantrone to treat relapsed or refractory aggressive non-Hodgkin's lymphoma.

Lucas Energy (AMEX: LEI) 13.5% HIGHER; seems to be breaking above the $2 resistance level this morning. Although the stock moved above this level in early May, shares could not hold this level.

Ceragon Networks (Nasdaq: CRNT) 13% HIGHER; upgraded at both Merriman Curhan Ford and Morgan Joseph following news that Digitel Mobile Philippines will invest an additional $9 million in Ceragon's mobile backhaul network equipment in an ongoing expansion of Digitel's 2G/3G cellular services.

National Technical Systems, Inc. (Nasdaq: NTSC) 12.8% HIGHER; reports Q1 adjusted EPS of $0.18, 12 cents better than the analyst estimate of $0.06. Revenue for the quarter was $36.1 million, which compares to the estimate of $31.56 million.

Competitive Technologies (AMEX: CTT) 9.5% LOWER; despite news that VA has granted the company vendor status, shares are continuing lower this week. Shares tumbled nearly 30% last week.

AVI BioPharma (Nasdaq: AVII) 8.6% HIGHER; pushing over the $1.50 level today. Shares have not been above $1.55 since January of this year. Volume is extremely heavy: the stock has already traded 1.5 million shares, vs. the average daily volume of 1.2 million.

Saia (Nasdaq: SAIA) 8.5% HIGHER; mentioned on CNBC earlier this morning; an analyst called the stock his favorite trucker.

Repros Therapeutics (Nasdaq: RPRX) 8% LOWER; traders are likely taking profits this morning following a 16% surge on Friday amid news that the FDA lifted a clinical hold on the company's Proellex.

To get this report daily visit http://www.streetinsider.com/entities/Morning+Movers.



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