Unusual 11 Mid-Day Movers 09/26: (MELA) (ZN) (GNRC) Higher; (EK) (EGI) (IVN) Lower
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MELA Sciences (Nasdaq: MELA) 56.3% HIGHER; reports the U.S. Food and Drug Administration (FDA) has issued an Approvable Letter for the MelaFind Pre-Market Approval (PMA) application.
Eastman Kodak Co. (NYSE: EK) 23.7% LOWER; in an 8-K filing after the close Friday, Eastman Kodak said it initiated a draw of $160 million under the Second Amended and Restated Credit Agreement, dated as of April 26, 2011, for general corporate purposes.
Zion Oil & Gas (Nasdaq: ZN) 19.2% HIGHER; continuing to bounce following a 44 percent decline since the beginning of September. Volume is very strong Monday afternoon.
Generac (Nasdaq: GNRC) 14.5% HIGHER; sees residential product sales during Q3 to be up by about 50 percent year-over-year "driven primarily by portable generator shipments." Sees Q4 residential product sales up 15-20 percent year-over-year. The company reaffirmed its FY guidance for solid double-digit growth for commercial and industrial products.
Entree Gold Inc. (AMX: EGI) 12.7% LOWER; feeling the effects of a 17 percent slide in gold prices through the month of September. Shares fell nearly 25 percent last week.
Ivanhoe Mines (NYSE: IVN) 11.9% LOWER; said in a statement today that the investment agreement for the Oyu Tolgoi Project remains a fair and legally binding contract that deserves and requires the unqualified support of all parties.
American Superconductor (Nasdaq: AMSC) 11% LOWER; traders taking advantage of a 13.7 percent rise on Friday to take profits today. Prior to Friday's rise, shares had fallen by nearly 44 percent over the prior six trading sessions. The company reported a Q1 loss of $0.61 on Friday, versus $0.28 reported last year. Revenue for the quarter came in at $9.1 million, versus $97.2 million reported last year.
China Shen Zhou Mining & Resources, Inc. (AMEX: SHZ) 10.9% LOWER; rare earths lower as China made an announcement it would be stepping up regulation for the minerals to combat illegal rare earth exploration. China's Ministry of Land and Resources said it plans to crack down on illegal mining in three regions: the city of Baotou in northern China's Inner Mongolia Autonomous Region, Jining in eastern China's Shandong Province and Liangzhou in southwestern China's Sichuan Province.
Agria (NYSE: GRO) 10.4% HIGHER; bouncing today following a 36 percent decline last week. Value buyers have stepped in just above the $1 level.
Odyssey Marine Exploration, Inc. (Nasdaq: OMEX) 8.9% HIGHER; announced today that it has confirmed the identity and location of the shipwreck site of the SS Gairsoppa nearly 4,700 meters below the surface of the North Atlantic, approximately 300 miles off the coast of Ireland in international waters.
American Eagle Outfitters, Inc. (NYSE: AEO) 8.7% HIGHER; after the close Friday, Chairman Jay Schottenstein disclosed the purchase of 1,000,000 shares from 9/21-9/22 at prices from $11.06-$11.28. The purchased brings his stake to 5,285,258 indrect (by SEI, Inc.). He also owns 688,653 direct, 5,771,205 by Trusts and 500,000 by LLP.
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Eastman Kodak Co. (NYSE: EK) 23.7% LOWER; in an 8-K filing after the close Friday, Eastman Kodak said it initiated a draw of $160 million under the Second Amended and Restated Credit Agreement, dated as of April 26, 2011, for general corporate purposes.
Zion Oil & Gas (Nasdaq: ZN) 19.2% HIGHER; continuing to bounce following a 44 percent decline since the beginning of September. Volume is very strong Monday afternoon.
Generac (Nasdaq: GNRC) 14.5% HIGHER; sees residential product sales during Q3 to be up by about 50 percent year-over-year "driven primarily by portable generator shipments." Sees Q4 residential product sales up 15-20 percent year-over-year. The company reaffirmed its FY guidance for solid double-digit growth for commercial and industrial products.
Entree Gold Inc. (AMX: EGI) 12.7% LOWER; feeling the effects of a 17 percent slide in gold prices through the month of September. Shares fell nearly 25 percent last week.
Ivanhoe Mines (NYSE: IVN) 11.9% LOWER; said in a statement today that the investment agreement for the Oyu Tolgoi Project remains a fair and legally binding contract that deserves and requires the unqualified support of all parties.
American Superconductor (Nasdaq: AMSC) 11% LOWER; traders taking advantage of a 13.7 percent rise on Friday to take profits today. Prior to Friday's rise, shares had fallen by nearly 44 percent over the prior six trading sessions. The company reported a Q1 loss of $0.61 on Friday, versus $0.28 reported last year. Revenue for the quarter came in at $9.1 million, versus $97.2 million reported last year.
China Shen Zhou Mining & Resources, Inc. (AMEX: SHZ) 10.9% LOWER; rare earths lower as China made an announcement it would be stepping up regulation for the minerals to combat illegal rare earth exploration. China's Ministry of Land and Resources said it plans to crack down on illegal mining in three regions: the city of Baotou in northern China's Inner Mongolia Autonomous Region, Jining in eastern China's Shandong Province and Liangzhou in southwestern China's Sichuan Province.
Agria (NYSE: GRO) 10.4% HIGHER; bouncing today following a 36 percent decline last week. Value buyers have stepped in just above the $1 level.
Odyssey Marine Exploration, Inc. (Nasdaq: OMEX) 8.9% HIGHER; announced today that it has confirmed the identity and location of the shipwreck site of the SS Gairsoppa nearly 4,700 meters below the surface of the North Atlantic, approximately 300 miles off the coast of Ireland in international waters.
American Eagle Outfitters, Inc. (NYSE: AEO) 8.7% HIGHER; after the close Friday, Chairman Jay Schottenstein disclosed the purchase of 1,000,000 shares from 9/21-9/22 at prices from $11.06-$11.28. The purchased brings his stake to 5,285,258 indrect (by SEI, Inc.). He also owns 688,653 direct, 5,771,205 by Trusts and 500,000 by LLP.
To get this report daily visit http://www.streetinsider.com/entities/Unusual+11+Mid-Day+Movers.
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