Unusual 11 Mid-Day Movers 06/27: (ARNA) (ENTR) (NSPH) Higher; (OMER) (GEVO) (ORLY) Lower

June 27, 2012 2:19 PM EDT
Arena Pharmaceuticals, Inc. (NASDAQ: ARNA) 32.9% HIGHER; Arena and Eisai Inc. announced today that the U.S. FDA has approved BELVIQ (pronounced BEL-VEEK) as an adjunct to a reduced-calorie diet and increased physical activity for chronic weight management in adult patients with an initial body mass index (BMI) of 30 kg/m2 or greater (obese), or 27 kg/m2 or greater (overweight) in the presence of at least one weight related comorbid condition (e.g., hypertension, dyslipidemia, type 2 diabetes)

Entropic (Nasdaq: ENTR) 28.4% HIGHER; now expects second quarter revenue to range between $81 million and $82 million. The Company's previous guidance for the second quarter was for revenue to range between $75 million and $77 million. The Street sees revs of $76.12 million. The Company expects GAAP earnings per share for the second quarter of approximately $0.00 and non-GAAP earnings per share of approximately $0.08. The Company's previous guidance was for non-GAAP earnings per share of $0.03. The Street sees EPS of $0.03.

Orexigen (Nasdaq: OREX) 24.2% HIGHER; moving on Arena Pharmaceuticals' (Nasdaq: ARNA) lorcaserin approval today.

Nanosphere, Inc. (Nasdaq: NSPH), 22.1% HIGHER; reports the U.S. Food and Drug Administration has granted a de novo petition permitting marketing of its Gram-Positive Blood Culture Nucleic Acid Test (BC-GP) on the automated sample-to-result Verigene System.

Lincare Holdings (Nasdaq: LNCR) 18.7% HIGHER; rumored to be a target of Linde at $40 per share.

Omeros Corporation (Nasdaq: OMER) 20.2% LOWER; has priced an underwritten public offering of 2,926,830 shares of its common stock at a price to the public of $10.25 per share for gross proceeds of $30.0 million.

Gevo, Inc. (Nasdaq: GEVO) 19.8% LOWER; intends to offer and sell, subject to market and other conditions, shares of its common stock and convertible senior notes due 2022. All of the shares in the common stock offering and convertible senior notes are to be sold by Gevo.

pSivida (Nasdaq: PSDV) 19.1% HIGHER; continuing higher following a nearly 20 percent breakout yesterday. The stock is over the $2.50 level today.

O'Reilly Automotive, Inc. (Nasdaq: ORLY) 14.5% LOWER; today announced updated 2012 second quarter comparable store sales guidance of 2.0% to 2.5%, which compares to previously issued second quarter comparable store sales guidance of 3% to 5%. In addition, the Company expects earnings per share for the second quarter to be in the lower end of the previously announced range of $1.13 to $1.17. The Street sees EPS of $1.19.

ValueVision (Nasdaq: VVTV) 10.4% LOWER; some profit take today following a nearly 33 percent run up over the last week of trading. Volume seems pretty light today.

Lee Enterprises (NYSE: LEE) 8.4% LOWER; the stock rose 9 percent on Friday of last week, another 7.7 percent on Monday and 16 percent on Tuesday following news earlier this month Warren Buffett took a stake in the company. Investors long the stock are probably taking some profits today.

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