Unusual 11 Mid-Day Movers 01/07: (PPHM) (MDCI) (BIOL) Higher; (HILL) (ESI) (STP) Lower

January 7, 2013 1:21 PM EST
Peregrine Pharmaceuticals, Inc.(Nasdaq: PPHM) 74.8% HIGHER; provided an update from its internal review of discrepancies from its Phase II randomized, double-blind placebo-controlled trial of bavituximab in second-line non-small cell lung cancer (NSCLC) in 121 patients. Click here for more color.

Medical Action Industries (Nasdaq: MDCI) 32.1% HIGHER; getting above the $4 level on volume. Shares are up 85 percent since the end of FY12.

BIOLASE, Inc. (Nasdaq: BIOL) 23.0% HIGHER; announced that, based on a preliminary review of its financial performance for the fourth quarter ended December 31, 2012, the Company expects to exceed its previous guidance and report net revenue in excess of $18 million. The Street was looking for revs of $17.9 million.

RF Industries Ltd. (Nasdaq: RFIL) 22.5% HIGHER; reported preliminary fourth-quarter 2012 revs of $0.5 million and EPS of 15 cents. Click here for more color.

Epocrates, Inc. (Nasdaq: EPOC) 21.5% HIGHER; will be acquired by athenahealth (Nasdaq: ATHN) for $11.75 per share.

Dot Hill Systems Corp. (Nasdaq: HILL) 19.5% LOWER; updated its guidance for the fourth quarter of 2012. Management now expects net revenue to be in the range of $46.0 million to $46.5 million and non-GAAP EPS to be between $(0.03) to $(0.05), below the prior revenue guidance of $48 million to $53 million and the non-GAAP EPS range of $(0.03) to $0.02, provided on November 8, 2012. The Street sees Q4 revs of $50 million and a loss of 3 cents per share.

ITT Educational Services (NYSE: ESI) 17.9% LOWER; said it expects to record an after-tax charge to net income of approximately $13.2 million in the fourth quarter of 2012. The Company also expects that this after-tax charge to net income will reduce its earnings per share by approximately $0.56 in the fourth quarter of 2012. PAA Research also commented on liquidity issues today.

SunTech Power (NYSE: STP) 16.6% LOWER; pulling back after a 22 percent run last week.

Inovio Pharmaceuticals, Inc. (AMEX: INO) 13.3% HIGHER; The PATH Malaria Vaccine Initiative (MVI) and Inovio Pharmaceuticals announced a follow-on collaboration to advance malaria vaccine development and new vaccination delivery technologies. Researchers will test whether a novel vaccine approach that combines genetically engineered DNA with an innovative vaccine delivery technology called electroporation could induce an immune response in humans that protects against malaria parasite infection.

Swisher Hygiene Inc. (Nasdaq: SWSH) 13.0% LOWER; lower amid a negative article on Seeking Alpha.

SunPower (Nasdaq: SPWR) 10.5% LOWER; another solar pulling back after getting out of the gate strong in FY13. Click here for more color.

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