StreetInsider.com Unusual 11 Mid-Day Movers 06/12/2007

June 12, 2007 11:31 AM EDT

VirtualScopics, Inc. ( Nasdaq: VSCP) 47% HIGHER; Announced the signing of a five-year master clinical trials services agreement with a leading biotechnology company. The agreement makes VirtualScopics a preferred provider of imaging-related services for later stage clinical trials.

Spatialight Inc. (Nasdaq: HDTV) 31.4% HIGHER; Stock is up over 200% in the past 4 trading sessions. (NOTE - Stock currently trades at $0.22 per share)

Generex Biotech (NASDAQ: GNBT) 23% HIGHER; Rodman and Renshaw initiates coverage on Generex Biotech with an Outperform rating and a $6 price target.

Tweeter Home Entertainment Group (NASDAQ: TWTR) 19% LOWER; Announced that to address its financial challenges and support its ongoing efforts to evolve its home installation and services business model, the Company has filed voluntary petitions for reorganization under Chapter 11 of the U.S. Bankruptcy Code.

NeurogesX (Nasdaq: NGSX) 15.5% HIGHER; Pacific Growth initiates coverage on NeurogesX with Buy rating.

Horizon Offshore (Nasdaq: HOFF) 11.75% HIGHER; Entered into a definitive merger agreement with Cal Dive International, Inc. (NYSE: DVR). Under the terms of the agreement, Horizon stockholders will receive in the merger, aggregate total consideration equal to 0.625 shares of Cal Dive common stock and $9.25 in cash for each share of Horizon common stock outstanding, or an estimated total of 20.4 million Cal Dive shares and $302.5 million in cash.

Acusphere, Inc. (NASDAQ: ACUS) 10.4% LOWER; Entered into definitive agreements with institutional investors to raise $20.00 million in gross proceeds in a "registered direct" offering through the sale of shares of its common stock and warrants. The Company estimates that net proceeds from the offering will be approximately $18.65 million, after deducting placement agent fees and estimated offering expenses.

USEC Inc. (NYSE: USU) 10.3% LOWER; Reuters reports USU has denied a media report that it was struggling to survive, but said financing problems could delay work on a new centrifuge project.

Pier 1 Imports Inc. (NYSE: PIR) 8% HIGHER; Goldman Sachs upgrades PIR to Buy rating.

Investment Technology Group Inc. (NYSE: ITG) 7.9% HIGHER; DE Shaw raised its stake and urged the company to consider a sale.

Retail Ventures (NYSE: RVI) 7.4% LOWER; Reports Q1 GAAP earnings of $0.05 loss, and a Non-GAAP loss of $0.21 per share, versus the consensus of a $0.14 loss. Revenues came in at $754.1 million versus the consensus of $790.7 million.

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