Unusual 11 Mid-Day Movers 09/07: WH, ALTI, QTWW, EPE, HDY, KOPN Higher; IDIX, CSKI, SPEX, MTSN, BRKS Lower
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Idenix Pharmaceuticals, Inc. (Nasdaq: IDIX) 47.9% LOWER; receives notice from the U.S. FDA that a clinical hold has been placed on IDX184 and IDX320 programs. A clinical hold is an order issued by the FDA to the sponsor to delay a proposed clinical investigation or to suspend an ongoing investigation.
China Sky One Medical, Inc. (Nasdaq: CSKI) 30.3% LOWER; Friday after the close, lowered its FY10 revenue guidance from a prior range of $160-$164 million to between $128 million and $136 million. (Consensus is $160.81M) Also lowered its 2010 adjusted net income guidance, excluding the impact of derivative warrant liabilities, from between $40 million and $41 million to between $26 million and $31 million. Also, the Company announced the resignation of its CFO, Mr. Stanley Hao, due to health considerations, effective September 01, 2010. Furthermore, analysts at Global Hunter, one of only several firms that cover the stock, discontinued coverage on the stock late last week.
WSP Holdings Ltd. (NYSE: WH) 27.2% HIGHER; making a move above $1.17 today. Volume is about 5.5x the trailing three-month average. After pushing dangerously near the $1 resistance and psychological barrier, traders seem to be treating the move as a technical test and may now be buying the stock as it appears this level could hold.
Spherix (Nasdaq: SPEX) 26.5% LOWER; looks like technicians are getting active on the stock today as shares gapped below the always-important 200-day smooth moving average. Volume is extremely heavy: already 350,000 shares have traded, which compares to the average daily volume of just 57,000.
Altair Nanotech (Nasdaq: ALTI) 22.2% HIGHER; continuing to surge this week as it appears technicians are holding the stock above its 200-day SMA. Shares rallied more than 43% last week amid very heavy volume. Volume is already heavier today than it was during any single full trading day last week.
Quantum Fuel Systems Tech. (Nasdaq: QTWW) 17.0% HIGHER; receives $30 million purchase order for supplying key components and subsystems related to Quantum's proprietary Q-Drive powertrain systems for the Fisker Karma production program under the terms of its supply agreement.
Enterprise GP Holdings L.P. (NYSE: EPE) 12.0% HIGHER; Enterprise Products Partners L.P. (NYSE: EPD) and Enterprise GP Holdings this morning announced a definitive agreement that will result in the merger of Enterprise GP Holdings with a wholly owned subsidiary of Enterprise Product Partners through a unit-for-unit exchange. Click here to see the full report.
Hyperdynamics Corporation (AMEX: HDY) 11.5% HIGHER; shares are soaring higher today as prices get north of a $1.20 resistance point. Volume is heavy here as well.
Kopin (Nasdaq: KOPN) 10.7% HIGHER; likely benefiting from a positive article in this weekend's edition of Barron's. The publication argued that Kopin could be a beneficiary to increased demand for mobile devices.
Mattson Technology Inc. (Nasdaq: MTSN) 11.1% LOWER; may be seeing some downside today as Barclays downgrades peer KLA-Tencor (Nasdaq: KLAC) from Overweight to Equalweight today.
Brooks Automation Inc. (Nasdaq: BRKS) 10.8% LOWER; Barclays downgrades from Overweight to Equalweight today.
To get this report daily visit http://www.streetinsider.com/entities/Unusual+11+Mid-Day+Movers..
China Sky One Medical, Inc. (Nasdaq: CSKI) 30.3% LOWER; Friday after the close, lowered its FY10 revenue guidance from a prior range of $160-$164 million to between $128 million and $136 million. (Consensus is $160.81M) Also lowered its 2010 adjusted net income guidance, excluding the impact of derivative warrant liabilities, from between $40 million and $41 million to between $26 million and $31 million. Also, the Company announced the resignation of its CFO, Mr. Stanley Hao, due to health considerations, effective September 01, 2010. Furthermore, analysts at Global Hunter, one of only several firms that cover the stock, discontinued coverage on the stock late last week.
WSP Holdings Ltd. (NYSE: WH) 27.2% HIGHER; making a move above $1.17 today. Volume is about 5.5x the trailing three-month average. After pushing dangerously near the $1 resistance and psychological barrier, traders seem to be treating the move as a technical test and may now be buying the stock as it appears this level could hold.
Spherix (Nasdaq: SPEX) 26.5% LOWER; looks like technicians are getting active on the stock today as shares gapped below the always-important 200-day smooth moving average. Volume is extremely heavy: already 350,000 shares have traded, which compares to the average daily volume of just 57,000.
Altair Nanotech (Nasdaq: ALTI) 22.2% HIGHER; continuing to surge this week as it appears technicians are holding the stock above its 200-day SMA. Shares rallied more than 43% last week amid very heavy volume. Volume is already heavier today than it was during any single full trading day last week.
Quantum Fuel Systems Tech. (Nasdaq: QTWW) 17.0% HIGHER; receives $30 million purchase order for supplying key components and subsystems related to Quantum's proprietary Q-Drive powertrain systems for the Fisker Karma production program under the terms of its supply agreement.
Enterprise GP Holdings L.P. (NYSE: EPE) 12.0% HIGHER; Enterprise Products Partners L.P. (NYSE: EPD) and Enterprise GP Holdings this morning announced a definitive agreement that will result in the merger of Enterprise GP Holdings with a wholly owned subsidiary of Enterprise Product Partners through a unit-for-unit exchange. Click here to see the full report.
Hyperdynamics Corporation (AMEX: HDY) 11.5% HIGHER; shares are soaring higher today as prices get north of a $1.20 resistance point. Volume is heavy here as well.
Kopin (Nasdaq: KOPN) 10.7% HIGHER; likely benefiting from a positive article in this weekend's edition of Barron's. The publication argued that Kopin could be a beneficiary to increased demand for mobile devices.
Mattson Technology Inc. (Nasdaq: MTSN) 11.1% LOWER; may be seeing some downside today as Barclays downgrades peer KLA-Tencor (Nasdaq: KLAC) from Overweight to Equalweight today.
Brooks Automation Inc. (Nasdaq: BRKS) 10.8% LOWER; Barclays downgrades from Overweight to Equalweight today.
To get this report daily visit http://www.streetinsider.com/entities/Unusual+11+Mid-Day+Movers..
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