Unusual 11 Mid-Day Movers 10/31: WINS, GKK, MTG, SAH Higher; PWAV, PNSN, BARE, CLUB Lower

October 31, 2008 1:15 PM EDT

SM&A (Nasdaq: WINS) 130% HIGHER; SM&A and Odyssey Investment Partners, LLC today announced a definitive agreement under which an affiliate of Odyssey will acquire SM&A for $6.25 per share in cash in a transaction with a total value of approximately $119.6 million.

Gramercy (NYSE: GKK) 80% HIGHER; the stock is continuing its momentous rise today, following yesterday's 86% rise on a better-than-expected Q3 earnings report.

Powerwave Technologies (Nasdaq: PWAV) 51.7% LOWER; reports Q3 EPS of $0.08, 3 cents better than the analyst estimate of $0.05. Revenue for the quarter was $238 million, versus the consensus of $232.46 million.

Penson Worldwide, Inc. (NASDAQ: PNSN) 38.4% LOWER; reported today that its subsidiary, Penson Financial Services Canada Inc., has an unsecured receivable from Evergreen Capital Partners Inc., a correspondent firm of Penson Canada, in the approximate amount of $25 million. If Penson is unsuccessful in reducing the exposure associated with this receivable, the Company would likely incur an after tax loss in the amount of approximately $15.5 million, equal to approximately $0.59 per share.

MGIC Investment (NYSE: MTG) 37.8% HIGHER; the stock remains extremely volatile this week: Wednesday MGIC rose about 40%, Thursday the stock nearly gave up all those gains, trading down 19% and today shares are correcting again, offsetting yesterday's losses.

Sonic Automotive (NYSE: SAH) 35% HIGHER; automotive retailers are trading higher today, and Sonic is leading the group. Elsewhere in the sector: Group 1 (NYSE: GPI) up 16%, Penske (NYSE: PAG) up 7.3%, AutoNation (NYSE: AN) up 6.3%. The group could be trading higher as the chances of a GM (NYSE: GM)/Chrysler merger appear to be increasing.

Bare Escentuals, Inc. (Nasdaq: BARE) 33.8% LOWER; reports Q3 EPS of $0.25, 1 cent worse than the analyst estimate of $0.26. Revenue for the quarter was $130.2 million, versus the consensus of $142.76 million. Sees FY08 sales up 10% compared to last year.

Town Sports International Holdings, Inc. (Nasdaq: CLUB) 33% LOWER; reports Q3 EPS of $0.16, 3 cents below the analyst estimate of $0.19. Revenue for the quarter was $128.1 million, versus the consensus of $128.72 million. Sees FY08 EPS 62c to 66c versus 83c. Sees FY08 revenue $504M to $508M versus $512M.

Las Vegas Sands (NYSE: LVS) 29.5% HIGHER; since hitting a 52-week low at $4.32 on Tuesday, shares of Las Vegas Sands have tripled in not even 3 full days of trading.

Idenix Pharmaceuticals, Inc. (Nasdaq: IDIX) 29.5% HIGHER; reports a Q3 loss of $0.30, 4 cents better than the analyst estimate of ($0.34). Revenue for the quarter was $2.1 million, versus the consensus of $1.72 million. Idenix currently expects to end 2008 with approximately $45 to $50 million of cash, cash equivalents and marketable securities, assuming no milestone payments, license fees, reimbursement for development programs, and assuming no financing activities during the remainder of 2008.

Flagstar Bancorp, Inc. (NYSE: FBC) 26.4% LOWER; reports Q3 loss of $0.79, which may not compare to the analyst estimate of $0.13.

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