Unusual 11 Mid-Day Movers 05/17: (MEG) (GALE) (XG) Higher; (WFR) (SVNT) (DANG) Lower

May 17, 2012 1:06 PM EDT Send to a Friend
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Media General, Inc. (NYSE: MEG) 37.9% HIGHER; today announced that it has signed agreements with Berkshire Hathaway, Inc., (NYSE: BRK.A) (NYSE: BRK.B) for the purchase of newspapers and new financing. A subsidiary of Berkshire Hathaway, BH Media Group, will purchase all of the newspapers owned by Media General, with the exception of the Tampa group, for $142 million in cash. Media General said it is in discussions with other prospective buyers for its Tampa print assets.

MEMC Electronic Materials, Inc. (NYSE: WFR) 19.2% LOWER; announced that it will transition the Chief Financial Officer role to Brian Wuebbels from the company's current CFO, Mark Murphy.

Galena Biopharma (Nasdaq: GALE) 17.6% HIGHER; continuing higher today following an 11.5 percent rise yesterday. Volume is extremely heavy today. Although shares moved above the $1.50 resistance level, the stock seems to be holding below that level.

Savient Pharmaceuticals, Inc. (Nasdaq: SVNT) 17.5% LOWER; continuing lower below the 50-day SMA, shares saw a spike in volume below the $1 price level.

Advance Auto Parts, Inc. (NYSE: AAP) 15.3% LOWER; reported Q1 EPS of $1.79, $0.02 worse than the analyst estimate of $1.81. Revenue for the quarter came in at $1.96 billion versus the consensus estimate of $2 billion. Advance Auto Parts, Inc. reaffirmed FY2012 guidance.

E-Commerce China Dangdang (NYSE: DANG) 14.3% LOWER; reported Q1 EPS of ($0.20), $0.04 better than the analyst estimate of ($0.24). Revenue for the quarter came in at $172.1 million versus the consensus estimate of $175.74 million. Dangdang expects its total net revenues in the second quarter of 2012 to be around RMB1186 million, representing year-over-year growth of around 50%.

Extorre Gold Mines Limited (AMEX: XG) 13.8% HIGHER; updated on high grade drilling results from Cerro Moro and comments on current market conditions. Silver is up sharply this morning. For more, click here.

NII Holdings (Nasdaq: NIHD) 13% LOWER; stock plunged below the $12 support level just after the open this morning. The stock has not been below this level since 2009.

McEwen Mining Inc. (NYSE: MUX) 12.5% HIGHER; another miner on the move today.

Great Panther Silver Ltd (AMEX: GPL) 11.8% HIGHER; moving higher along with silver on some rebound in the market following a multi-session slide on Europe worries.

KongZhong (Nasdaq: KONG) 11.8% HIGHER; reported Q1 EPS of 21 cents on sales of $43.8 million. The Street was looking for EPS of 11 cents on sales of $43.8 million. The company is looking for Q2 sales of $49-$50 million, which compares to the Street estimate of $44.6 million.

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