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Unusual 11 Mid-Day Movers 02/11: (ZN) (MLNK) (MDCI) Higher; (NVO) (GMXR) (AMBO) Lower

February 11, 2013 1:16 PM EST Send to a Friend
Zion Oil & Gas, Inc. (Nasdaq: ZN) 34.5% HIGHER; moving back above the key $1.55 - $1.60 level on volume after dipping to about 81 cents at the end of January.

ModusLink Global Solutions, Inc. (Nasdaq: MLNK) 17.1% HIGHER; has entered into an investment agreement with Steel Partners Holdings L.P. (NYSE: SPLP), which together with certain affiliates, including Handy & Harman Ltd. (Nasdaq: HNH), beneficially owns 14.9 percent of ModusLink’s outstanding shares. Steel Holdings would purchase 7.5 million newly issued shares of common stock at a price of $4.00 per share, representing a cash investment in the Company, before fees and expenses, of $30 million.

Medical Action Industries, Inc. (Nasdaq: MDCI) 16.7% HIGHER; reported Q3 EPS of $0.10, $0.05 better than the analyst estimate of $0.05. Revenue for the quarter came in at $109.4 million versus the consensus estimate of $115.19 million.

Uni-Pixel (Nasdaq: UNXL) 15.4% HIGHER; Williams Financial Group started coverage on Uni-Pixel with a Buy rating and $30 price target. Click here for more color.

Icahn Enterprises L.P. (Nasdaq: IEP) 14.6% HIGHER; announced that the Board of Directors of its general partner has approved a modification to the Company's distribution policy to provide for an increase in the annual distribution from $1.40, comprised of $0.40 in cash and $1.00 in depositary units, to $4.00 per depositary unit, payable in either cash or additional depositary units, at the election of each depositary unit holder.

Novo Nordisk A/S ADS (NYSE: NVO) 14.4% LOWER; announced that on February 8, 2013, it received a Complete Response Letter from the US Food and Drug Administration (FDA) regarding the New Drug Applications for Tresiba (insulin degludec) and Ryzodeg (insulin degludec/insulin aspart). A Complete Response Letter is issued by the FDA, when the agency determines that an application cannot be approved in its current form.

GMX Resources, Inc. (NYSE: GMXR) 14.0% LOWER; GMX issued an update late last Friday.

Diamond Foods, Inc. (Nasdaq: DMND) 11.7% HIGHER; Diamond getting a boost in part as Vanguard Group disclosed a larger stake in the company at the end of 2012. For more color, click here.

Ambow Education Holding Ltd. (NYSE: AMBO) 9.6% LOWER; Cisco disclosed exiting its stake at the end of 2012. For the 13G filing, click here.

Heckmann Corporation (NYSE: HEK) 8.1% LOWER; Wedbush downgraded Heckmann) from Neutral to Underperform, cutting its price target 50 cents to $2.50. For more color, click here.

Caesars Entertainment (Nasdaq: CZR) 6.9% LOWER; pulling back after a 64 percent run higher last week on news that online gambling might get another market in New Jersey. For more, click here.

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Carl Icahn, Steel Partners, Unusual 11 Mid-Day Movers, Vanguard, 13G, Earnings

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