Unusual 11 Mid-Day Movers 10/22: UAUA, CHRW, EEV, CRI Higher; DVAX, CVH, KND, SNDK Lower

October 22, 2008 12:32 PM EDT

Dynavax (NASDAQ: DVAX) 78.1% LOWER; The FDA has advised Dynavax and Merck that the balance of risk versus potential benefit no longer favors continued clinical evaluation of HEPLISAV in healthy adults and children. The FDA has also advised the companies that there may be potential for an acceptable risk versus benefit profile for HEPLISAV in patients with renal failure, and requested additional information from the companies before considering further pursuit of clinical studies in those patients. Dynavax and Merck are evaluating the FDA's response in considering next steps. In the meantime, the clinical hold on the two U.S. IND Applications for HEPLISAV remains in effect.

Coventry Health Care, Inc. (NYSE: CVH) 47% LOWER; reports Q3 EPS of $0.58, which may not compare to the analyst estimate of $1.06. Revenues for the quarter were $2.98 billion, versus the consensus of $3.03 billion. Sees Q4 sales of about $3 billion and GAAP EPS of $0.60-$0.62, including $0.02 of additional interest expense. The Street is expecting sales of $3.08 billion.

Kindred Healthcare, Inc. (NYSE: KND) 32.8% LOWER; reported preliminary Q3 EPS of $0.01-$0.03, versus the consensus of $0.24, and compared to its prior guidance of $0.20-$0.25. For Q4, Kindred sees EPS in the range of $0.35-$0.45, versus the consensus of $0.57. For FY08, Kindred lowered its EPS guidance from $1.50-$1.60 to $1.30-$1.40, versus the Street estimate of $1.53.

SanDisk Corporation (NASDAQ: SNDK) 31.2% LOWER; Samsung Electronics has withdrawn its proposal to acquire all of the outstanding shares of SanDisk for $26 per share in cash.

General Growth Properties (NYSE: GGP) 29.6% LOWER; concerns about the companies stability are still being considered by traders today. Prior to today, the stock was already down 20% for the week.

UAL Corp. (Nasdq: UAUA) 15.2% HIGHER; reports a Q3 loss of $1.99 per share, versus the consensus of $2.48 loss. Revenues came in at $5.57 billion, versus the consensus of $5.54 billion.

C.H. Robinson Worldwide Inc (Nasdaq: CHRW) 15% HIGHER; reports Q3 EPS of $0.54, 1 cent better than the analyst estimate of $0.53. Revenues for the quarter were $2.32 billion, versus the consensus of $2.25 billion. Additionally, Merrill Lynch upgraded the stock to Buy this morning.

UltraShort MSCI Emerging Markets ProShares (AMEX: EEV) 14% HIGHER; this ETF works as a 2-to-1 bet against indices and stocks in emerging markets. With Argentina's Merval, as one example, down more than 17% today, its easy to see why traders are jumping into this short fund today.

Carter's, Inc. (NYSE: CRI) 13.8% HIGHER; reports Q3 EPS of $0.60 (Excluding the distribution facility write-down charge of $0.02), 14 cents better than the analyst estimate of $0.46. Revenues for the quarter were $436.4 million, versus the consensus of $410.88 million. Sterne Agee also upgraded the stock to Buy earlier.

Tupperware Brands (NYSE: TUP) 13.5% HIGHER; reports Q3 EPS of $0.47, 6 cents better than the analyst estimate of $0.41. Revenues for the quarter were $513.1 million, versus the consensus of $510.15 million. Tupperware sees Q4 EPS of $0.79-$0.84, versus the consensus of $0.93. Tupperware sees 2008 EPS of $2.57-$2.62, versus the consensus of $2.65.

Broadcom (Nasdaq: BRCM) 12.4% HIGHER; reports Q3 EPS of $0.31, versus the analyst estimate of $0.44. Revenues for the quarter were $1.298 billion, versus the consensus of $1.27 billion. Analysts at Robert W. Baird upgraded Broadcom to Outperform this morning.

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• Merrill Lynch
• Robert W Baird
• Sterne Agee

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