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Unusual 11 Mid-Day Movers 10/07: (SWTX) (IPGP) (KONA) Higher; (ILMN) (CLWR) (CSII) Lower

October 7, 2011 1:41 PM EDT
Southwall Technologies Inc. (Nasdaq: SWTX) 44.0% HIGHER; Solutia Inc. (NYSE: SOA) and Southwall today announced that they have signed a definitive agreement providing for Solutia to acquire Southwall for $13.60 per share of Southwall common stock in cash.

Illumina (Nasdaq: ILMN) 33.0% LOWER; sees Q3 sales of about $235 million, which compares to the Street estimate of $277.72 million. Sees Q4 sales higher than Q3 sales. Suspending guidance for the full year.

Clearwire (Nasdaq: CLWR) 29.0% LOWER; stock plunged lower, AP attributing weakness to comments from Sprint Pres of Network Operations saying the company may stop making Clearwire-compatible devices. The stock has been halted on a circuit breaker 3 or 4 times now.

Cardiovascular Systems, Inc. (Nasdaq: CSII) 27.9% LOWER; reports prelim. Q1 loss of 22 to 24 cents, versus cons of an 18 cent loss. Sees sales $18.7 million, versus the consensus of $21.6 million.

IPG Photonics Corporation (Nasdaq: IPGP) 16.3% HIGHER; today announced that a jury in the District Court for the Eastern District of Michigan has determined that the Company does not infringe on IMRA America’s patent number 5,818,630 in a suit originally brought by IMRA in 2006.

IDT Corp. (NYSE: IDT) 13.8% LOWER; reported Q4 EPS of $0.01, 23 cents worse than the analyst estimate of $0.24. Revenue for the quarter came in at $407.5 million versus the consensus estimate of $398.97 million.

Trina Solar (NYSE: TSL) 12.6% LOWER; BofA/Merrill Lynch initiates coverage on Trina with a Underperform, and $2 price target, which is about 71 percent worth of downside.

Kona Grill, Inc. (Nasdaq: KONA) 9.4% HIGHER; technicians taking the stock over a resistance level around $6 despite news William Blair & Co. reduced its sake from 1,254,739 to 437,671 common shares, as disclosed in an amended 13D Friday morning.

Box Ships Inc. (NYSE: TEU) 8.3% HIGHER; Box Ships is selling heavier volume than usual pushing the stock above the $7.50 mark. None of its competitors are in positive territory Friday, making the move even more unusual.

GeoEye, Inc. (Nasdaq: GEOY) 7.3% HIGHER; seeing upside on takeover speculation.

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William Blair, Unusual 11 Mid-Day Movers, 13D, Solutia Inc./Southwall Technologies Inc.