Unusual 11 Mid-Day Movers 10/15: ACOR, LTON, RUBO, SLTM, MPG Higher; STSA, CXM, MNI, RAMS Lower

October 15, 2009 1:26 PM EDT

Acorda Therapeutics, Inc. (Nasdaq: ACOR) 50.5% HIGHER; announced the FDA eripheral and Central Nervous System Drugs Advisory Committee voted 12 to 1 that clinical data on Fampridine-SR 10 mg twice daily demonstrated substantial evidence of effectiveness as a treatment to improve walking in people with multiple sclerosis and voted 10 to 2 (1 abstention) that it is clinically meaningful and can be safe for use. Click here for the full report.

Linktone Ltd. (Nasdaq: LTON) 45.4% HIGHER; entered into a mobile video agreement to make video highlights of Major League Baseball games available to customers in China with China National Radio Mobile Media (Beijing) Co. Ltd.

Rubio's(R) Restaurants, Inc. (Nasdaq: RUBO) 28% HIGHER; today announced that its Board of Directors had received an unsolicited letter, dated October 13, 2009, from a group consisting of Alex Meruelo and his affiliates and Levine Leichtman Capital Partners IV, L.P. outlining a proposal to acquire all of the Company's outstanding common stock for $8.00 per share. The Board intends to consider the letter consistent with its fiduciary duties to act in the best interests of the Company's stockholders.

Sterling Financial Corporation (NASDAQ: STSA) 20.5% LOWER; shares are tumbling this morning following news earlier of an agreement to Cease and Desist. Also, late last night, Sterling announced that co-founder, Chairman, President and CEO, Harold Gilkey, would be leaving the company. Click here for the full report.

Solta Medical, Inc. (NASDAQ: SLTM) 19.6% HIGHER; today announced it has received FDA 510(k) clearance for the new Fraxel re:store Dual laser system. The Fraxel re:store Dual system takes the industry leading fractional laser technology to the next level by adding a novel 1927 nm wavelength, the first ever application of a Thulium laser in the aesthetics market. Click here for the full report.

Maguire Properties (NYSE: MPG) 17.2% HIGHER; shares are continuing higher today following a 16% jump yesterday. After battling with its 200-day smooth moving average over the last few weeks, it appears the stock price has now broken above this heavily-watched technical indicator. Volume is very heavy in the stock, already trading twice as much as its normal average daily volume.

Krispy Kreme Doughnuts (NYSE: KKD) 16.8% HIGHER; continuing higher today as the stock appears to be breaking out on technicals. Shares rose more than 12% yesterday. The stock price moved above a very strong resistance level yesterday -- a trend line that has held up since the end of 2007.

Cardium Therapeutics (AMEX: CXM) 15% LOWER; today announced a registered direct offering of common stock to selected investors for aggregate gross proceeds of $6 million. The offering is made pursuant to a registration statement that was filed by Cardium Therapeutics with the SEC and declared effective by the SEC on August 15, 2007. The securities in the offering include an estimated 4,615,385 shares of Cardium common stock at a price of $1.30 and warrants to purchase up to 3,000,000 shares of Cardium common stock at an exercise price of $1.40.

The McClatchy Company (NYSE: MNI) 14.2% LOWER; reports Q3 EPS of $0.13, ex-items, 1 cent lower than the analyst estimate of $0.14. Revenue for the quarter was $374.4 million, which compares to the estimate of $353.60 million.

Aries Maritime (Nasdaq: RAMS) 12.9% LOWER; correcting today following a recent run-up on reports that Grandunion has acquired a controlling stake in RAMS.

Nokia (NYSE: NOK) 11% LOWER; reports Q3 EPS of EUR 0.17 ex-items, compared to EUR 0.33 in the same quarter last year. Revenue for the quarter was EUR 9.81 billion, versus EUR 12.23 billion in Q308.

To get this report daily visit http://www.streetinsider.com/entities/Unusual+11+Mid-Day+Movers.

Related Categories

Special Reports

Stocks Mentioned

Related Entities

• Unusual 11 Mid-Day Movers

Add Your Comment

Name

Subject

Body

Verification can't see the text?
click here to refresh the image.
what's this?