Morning Movers 9/2: VG, MDZ, PPHM, PAY, KTOS Higher; DHT, FNM, FRE, SEAC, ICGN, SVA Lower

September 2, 2009 9:48 AM EDT

Vonage (NYSE: VG) 33.6% HIGHER; has announced that Apple approved its mobile application for iPhone and iPod Touch. Vonage is currently conducting a beta test and general availability will be announced at a later date. This new service, along with the recent launch of the Vonage World unlimited calling plan, continues Vonage's heritage of using innovative technology to create significant value for its current and future customers.

MDS Inc. (NYSE: MDZ) 22.9% HIGHER; has entered into an agreement to sell its MDS Analytical Technologies business, a global supplier of drug discovery and life sciences research tools, to Danaher Corporation (NYSE: DHR) for $650 million in cash, and that it currently intends to return approximately $400 million to $450 million of the sale proceeds to its shareholders. The completion of the sale is subject to shareholder and regulatory approval, and other closing conditions.

DHT Maritime (NYSE: DHT) 19.3% LOWER; reports Q2 EPS of $0.10, 6 cents below the analyst estimate of $0.16. Revenue for the quarter was $26.02 million, versus the consensus of $26.08 million.

Peregrine Pharmaceuticals, Inc. (Nasdaq: PPHM) 16.5% HIGHER; reported that clinical investigators are presenting interim Phase II data showing that its brain cancer agent Cotara appeared well tolerated and demonstrated encouraging signs of efficacy in patients with glioblastoma multiforme, the deadliest form of brain cancer. Click here for the full report.

Fannie Mae (NYSE: FNM) 15% LOWER; According to reports from the WSJ, the Mortgage Bankers Association is asking Congress to break-up Fannie Mae and Freddie Mac into several smaller privately held companies. Click here for the full report.

Freddie Mac (NYSE: FRE) 14.7% LOWER; see Fannie.

SeaChange International (Nasdaq: SEAC) 14.4% LOWER; reports Q2 adj-EPS of $0.01, 5 cents lower than the analyst estimate of $0.06. Revenue for the quarter was $46.5 million, versus the consensus of $49.47 million. Sees being profitable in the second half of this year.

VeriFone Holdings, Inc. (NYSE: PAY) 13% HIGHER; reports Q3 EPS of $0.26, ex-items, 8 cents better than the analyst estimate of $0.18. Revenue for the quarter was $211.2 million, versus the consensus of $202.18 million. Sees Q4 adj-EPS of $0.23-$0.25, versus the consensus of $0.19 Sees quarterly sales of $208-$215 million, versus the consensus of $202.63 million. Sees FY09 adj-EPS of $0.83-$0.85, which compares to the Street estimate of $0.70, and on sales of $835-$842 million, versus the consensus of $821.26 million. The stock was also upgraded to Sector Perform at RBC Capital.

Icagen (Nasdaq: ICGN) 12.6% LOWER; correcting today following yesterday's nearly 50% surge on news positive top line results in a Phase IIA study of senicapoc.

Sinovac Biotech Ltd. (Amex: SVA) 11.2% LOWER; announced today that it has signed an agreement with Boryung Pharmaceutical Company Limited, a Korean manufacturer of pharmaceuticals, to collaborate on marketing efforts and possible vaccine supply efforts to the government of South Korea for Sinovac's H1N1 vaccine. Click here for the full report.

Kratos Defense & Security Solutions, Inc. (Nasdaq: KTOS) 10.6% HIGHER; announced the award to its Madison Research Division in Huntsville, Alabama of a new 12-month Engineering Assignment valued at over $4 million. This fully-funded EA award for continued support and sustainment of Foreign Military Sales weapon systems comes under the company's existing multi-year support task order with teammate ARINC Engineering Services, LLC. This award brings the total funding of all tasks awarded to Kratos under this contract to approximately $75.5 million.

Blockbuster Inc. (NYSE: BBI) 6.7% HIGHER; reduced the face amount of certain letters of credit it maintains on behalf of its former parent company, Viacom Inc., from $75 million to approximately $25 million, paralleling a reduction in Viacom's exposure to Blockbuster lease obligations. The reduction of the letters of credit follows Blockbuster's announcement on Aug. 28 that it sold its 186-store XTRA-VISION(R) chain in Ireland for cash proceeds of up to $45 million.

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