Unusual 11 Mid-Day Movers 11/03: STEM, HIG, EYE, TVL Higher; VSE, ATRC, NSTC, FIG Lower

November 3, 2008 12:17 PM EST

StemCells (Nasdaq: STEM) 53.5% HIGHER; not hearing any news from the company, but the stock is seeing extremely heavy volume this morning: the stock has already traded about 5 million times, which compares to its average daily volume of about 670K.

VeraSun Energy (NYSE: VSE) 52.1% LOWER; The ethanol producer announced the Company and 24 of its subsidiaries have filed voluntary petitions for relief under chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware to enhance liquidity while they reorganize.

Hartford Financial Services Group, Inc. (NYSE: HIG) 48.2% HIGHER; stated that its capital margin, the capital in excess of modeled rating agency requirements to maintain AA level ratings, would be approximately $2 billion at year end, assuming a year-end S&P 500 level of 900. The S&P closed at 969 on Friday.

AtriCure, Inc. (Nasdaq: ATRC) 39.2% LOWER; received a letter on October 27, 2008 from the U.S. Department of Justice-Civil Division informing the Company that the DOJ is conducting an investigation for potential False Claims Act and common law violations relating to the Company's surgical ablation devices. The stock was also downgraded by BMO Capital and Canaccord Adams to Market Perform and Hold, respectively.

Advanced Medical Optics (NYSE: EYE) 24.8% HIGHER; the stock continues to climb today after reporting slightly better-than-expected Q3 earnings Friday morning. That day, the stock rose about 30%. An upgrade at Jefferies from Underperform to Hold may be adding to upside today.

LIN TV (NYSE: TVL) 24.6% HIGHER; despite a better-than-expected Q3 earnings report released on Thursday (10/30) morning of last week, the stock traded relatively flat on that day, but fell more than 23% on Friday. The stock has now taken back all of Friday's losses.

Lear (NYSE: LEA) 22% HIGHER; this automotive supplier is moving up on unusually heavy volume this morning as a deal between General Motors (NYSE: GM) and Chrysler seems like it is becoming more likely everyday. Today's development that could be pushing shares of Lear higher: Nissan and Chrysler announced that it they will terminate talks as Chrysler now prefers a deal with General Motors.

ReneSola Ltd. (NYSE: SOL) 21.3% HIGHER; today announced that its principal operating subsidiary Zhejiang Yuhui Solar Energy Source Co. Ltd. has secured additional banking facilities with two of China's largest banks: Industrial and Commercial Bank of China and Agricultural Bank of China.

Ness Technologies, Inc. (NASDAQ: NSTC) 19.5% LOWER; reports Q3 non-GAAP EPS of $0.24, 3 cents lower than the analyst estimate of $0.27. Revenue for the quarter was $167.3 million, versus the consensus of $174.87 million. Will only provide guidance for the remainder of the year; Sees FY08 non-GAAP EPS of $0.24-$0.31, versus the consensus of $0.37 and revs of $175-$185 million, versus the Street estimate of $183.64

Fortress Investment Group (NYSE: FIG) 11% LOWER; after falling more than 30% over Monday and Tuesday of last week, the stock finished off the week up 22.8% from last week's open.

Wynn Resorts (Nasdaq: WYNN) 9.9% LOWER; after setting a new 52-week low at $28.06 on Tuesday of last week, shares of Wynn rallied about 115%, ending the week over $60. With so much upside in just a few days of trading, investors are likely selling the stock today in order to lock-in profits.

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

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