Unusual 11 Mid-Day Movers 10/4: (SMMT) (SDRL) (ADXS) Higher; (TRIB) (IRMD) (NVFY) Lower

October 4, 2016 1:00 PM EDT

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Summit Therapeutics plc (Nasdaq: SMMT) 91.3% HIGHER; Sarepta Therapeutics and Summit Therapeutics announced that they have entered into an exclusive license and collaboration agreement granting Sarepta rights in Europe, as well as in Turkey and the Commonwealth of Independent States (‘the licensed territory’), to Summit’s utrophin modulator pipeline, including its lead clinical candidate, ezutromid, for the treatment of Duchenne muscular dystrophy

Trinity Biotech plc (Nasdaq: TRIB) 50.9% LOWER; announced that it is withdrawing its 510(k) premarket notification submission for the Meritas Troponin-I Test and Meritas Point-of-Care Analyzer.

Iradimed Corp. (Nasdaq: IRMD) 38.3% LOWER; revised its third quarter financial guidance. The Company now expects revenue for the third quarter 2016 of approximately $7.5 million to $7.6 million, compared to its previous guidance of $9.9 million to $10.0 million and GAAP diluted earnings per share of approximately $0.09 to $0.10. The Company also now expects non-GAAP diluted earnings per share of approximately $0.11 to $0.12, compared to its previous guidance of $0.23 to $0.24.

Seadrill's (NYSE: SDRL) 27.0% HIGHER; John Fredriksen, Seadrill's Chairman and largest shareholder, is willing to lend it as much as $1.2 billion as part of a potential deal with banks and bondholders to restructure its debt, according to Bloomberg, citing two people familiar with the matter.

Nova Lifestyle (Nasdaq: NVFY) 18.7% LOWER; pulling back following strong gains on Monday.

Costamare (NYSE: CMRE) 18.2% LOWER; declared a quarterly dividend of $0.10 per share, or $0.4 annualized. This is a 65.5% decrease from the prior dividend of $0.29. The company also entered new financing arrangements.

NXT-ID (Nasdaq: NXTD) 14.6% LOWER; continuing lower from Monday after it filed a registration with the U.S. SEC to sell up to 3,695,309 shares of common stock on behalf of selling shareholders.

Advaxis, Inc. (Nasdaq: ADXS) 11.9% HIGHER; movhing higher from Monday after appointing a new COO. The stock is also strong above $11.

Sears Holdings (Nasdaq: SHLD) 8.7% HIGHER; Sear's Craftsman said to get interest from Black & Decker, Techtronic Industries - Bloomberg

Celldex Therapeutics (Nasdaq: CLDX) 8.6% HIGHER; Brean Capital assumed coverage on Celldex Therapeutics with a Buy rating and a price target of $16.

ARC Group Worldwide, Inc. (Nasdaq: ARCW) 8.3% HIGHER; moving higher from Monday after announcing the completion of the sale of Tekna Seal LLC, a non-core subsidiary of ARC, for $10.5 million.

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