Unusual 11 Mid-Day Movers: 11/12: NLST, COMS, HPJ, PLA, AMD Higher; SVLF, TRMS, NWPX, BRCD Lower

November 12, 2009 1:27 PM EST

Netlist, Inc. (Nasdaq: NLST) 55.2% HIGHER; yesterday launched HyperCloud(TM), the world's first 16GB, 2 virtual rank (vRank) memory module for servers. The stock surged more than 50% on the news yesterday.

3Com Corporation (NASDAQ: COMS) 31.7% HIGHER; HP (NYSE: HPQ) announced plans to acquire 3Com for $7.90 per share in cash or an enterprise value of approximately $2.7 billion. The terms of the transaction have been approved by the HP and 3Com boards of directors. HP anticipates that the transaction will be slightly dilutive to fiscal 2010 non-GAAP earnings. The transaction is expected to close in the first half of calendar 2010.

Hong Kong Highpower Technology, Inc. (Amex: HPJ) 27.4% HIGHER; reports Q3 EPS of $0.18, compared to $0.02 in the same quarter last year. Revenue for the quarter was $21.1 million, versus $20.5 million in Q308.

Playboy (NYSE: PLA) 27.1% HIGHER; said to be in talks to sell itself to Iconix Brand (Nasdaq: ICON). We have gotten a "no comment" from both companies.

Advanced Micro Devices (NYSE: AMD) 22.6% HIGHER; Intel Corporation (Nasdaq: INTC) and AMD today announced a comprehensive agreement to end all outstanding legal disputes between the companies, including antitrust litigation and patent cross license disputes. Under terms of the agreement, AMD and Intel obtain patent rights from a new 5-year cross license agreement, Intel and AMD will give up any claims of breach from the previous license agreement, and Intel will pay AMD $1.25 billion.

Silverleaf Resorts, Inc. (NASDAQ: SVLF) 20.4% LOWER; reports a Q3 loss of $0.10, compared to a gain of $0.07 in the same quarter last year. Sales came in at $70.43 million, versus the $66.85 million reported in Q308.

Trimeris, Inc. (Nasdaq: TRMS) 18.4% LOWER; today announced that in connection with the Agreement and Plan of Merger dated October 2, 2009, by and among Trimeris, Arigene Co., Ltd. and RTM Acquisition Company, Arigene has requested through counsel that Trimeris consent to an extension of the expiration date of the tender offer for all of Trimeris' outstanding shares of common stock commenced by Arigene and the Purchaser on October 19, 2009, pursuant to the terms of the Merger Agreement.

Western Alliance Bancorp (NYSE: WAL) 17.9% HIGHER; the company's Torrey Pines Bank reported that Q3 deposits rose 63% from last year to $887 million.

Northwest Pipe Company (NASDAQ: NWPX) 12.7% LOWER; reports preliminary Q3 sales of $67 million, versus the $123.4 million reported in the same quarter last year. Preliminary net income comes in at a loss of about $1 million, versus a gain of $10.2 million in Q308. The stock was also downgraded to Neutral at Boenning & Scattergood.

Brocade (Nasdaq: BRCD) 12.4% LOWER; getting slammed as Brocade was thought to be a top prospect for a takeover by HP. I guess not.

Denison Mines Corp. (AMEX: DNN) 11.5% LOWER; reports Q3 loss of $0.27, versus the analyst estimate of ($0.01). Revenue for the quarter was $12.7 million, versus $36.48 million in Q308.

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