Unusual 11 Mid-Day Movers 10/31: (INTX) (BRCD) (TMH) Higher; (MEMP) (OPXA) (EVEP) Lower

October 31, 2016 12:54 PM EDT

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Memorial Production Partners LP (Nasdaq: MEMP) 49.7% LOWER; announced that the board of directors of its general partner has elected to suspend MEMP’s quarterly cash distributions to unitholders, effective immediately. The board believes the suspension is in the best interest of the Partnership. The Partnership also announced a reduction of its borrowing base under MEMP’s credit facility from $925 million to $740 million, effective October 28, 2016, which will be further reduced to $720 million, effective December 1, 2016.

Opexa Therapeutics (Nasdaq: OPXA) 28.6% LOWER; continuing lower from last Friday after the company announced that the Phase 2b Abili-T clinical trial designed to evaluate the efficacy and safety of Tcelna (imilecleucel-T) in patients with secondary progressive multiple sclerosis (SPMS) did not meet its primary endpoint of reduction in brain volume change (atrophy), nor did it meet the secondary endpoint of reduction of the rate of sustained disease progression. Tcelna did show a favorable safety and tolerability profile.

Intersections Inc. (Nasdaq: INTX) 24.4% HIGHER; announced that its Board of Directors has received a non-binding proposal from Loeb Holding Corporation ("LHC"), the Company's largest stockholder, to acquire the Company's Pet Health Monitoring Segment. LHC's proposal is set forth in an amendment to its Schedule 13D filed today with the SEC.

Brocade Communications (Nasdaq: BRCD) 22.2% HIGHER; said in advanced talks to sell itself, according to Bloomberg.

EV Energy Partners (Nasdaq: EVEP) 16.6% LOWER; Stifel downgraded EV Energy Partners from Buy to Hold and moved its price target from $4 to $2.

TeamHealth Holdings, Inc. (NYSE: TMH) 16.3% HIGHER; announced that it has entered into a definitive agreement to be acquired by funds affiliated with Blackstone, a leading global asset manager, and certain co-investors in a transaction valued at approximately $6.1 billion.

Lumber Liquidators (NYSE: LL) 14.6% LOWER; reported Q3 EPS of ($0.68), $0.49 worse than the analyst estimate of ($0.19). Revenue for the quarter came in at $244.1 million versus the consensus estimate of $231.57 million. Comps rose 1.0 percent.

CenturyLink (NYSE: CTL) 12.6% LOWER; CenturyLink and Level 3 Communications announced that their Boards of Directors have unanimously approved a definitive merger agreement under which CenturyLink will acquire Level 3 in a cash and stock transaction valued at approximately $34 billion, including the assumption of debt.

INC Research Holdings (Nasdaq: INCR) 11.8% HIGHER; reported Q3 adj EPS of $0.64, $0.01 better than the analyst estimate of $0.63. Revenue for the quarter came in at $259.56 million versus the consensus estimate of $259.89 million. INC Research Holdings sees FY2016 adj EPS of $2.48-$2.52, versus prior guidance of $2.39-$2.50 and the consensus of $2.48.

Nam Tai Property (NYSE: NTP) 9.5% HIGHER; reported Q3 EPS of ($0.04), versus ($0.23) reported last year.

Catalyst Pharmaceuticals, Inc. (Nasdaq: CPRX) 9.0% HIGHER; announced that it has reached an agreement with the U.S. Food and Drug Administration (FDA) under a Special Protocol Assessment (SPA) for the protocol design, clinical endpoints, and statistical analysis approach to be taken in Catalyst's upcoming Phase 3 study evaluating Firdapse (amifampridine phosphate) for the symptomatic treatment of Lambert-Eaton myasthenic syndrome (LEMS).

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