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Unusual 11 Mid-Day Movers 11/11: (QPSA) (NLST) (MITK) Higher; (ALIM) (BRLI) (MVIS) Lower

November 11, 2011 1:27 PM EST
Alimera Sciences, Inc., (Nasdaq: ALIM) 72% LOWER; today announced that it has received a complete response letter from the U.S. FDA in response to the New Drug Application for ILUVIEN for the treatment of diabetic macular edema associated with diabetic retinopathy. The FDA stated that it was unable to approve the ILUVIEN New Drug Application because the New Drug Application did not provide sufficient data to support that ILUVIEN is safe and effective in the treatment of patients with diabetic macular edema. Click here for more from the release.

Bio-Reference Labs (Nasdaq: BRLI) 24.8% LOWER; Jefferies placed its ratings on the stock under review (from Hold) following a second short report from TheStreetSweeper.org.

MicroVision, Inc. (Nasdaq: MVIS) 21.5% LOWER; announced that it has priced an underwritten public offering of 17,948,716 units at a price to the public of $0.585 per unit for gross proceeds of approximately $10.5 million.

Quepasa Corp. (Nasdaq: QPSA) 19.4% HIGHER; Could be moving higher on news that Facebook will have to ease up on privacy as it nears a settlement with the U.S. FTC. Also, completed the acquisition of myYearbook yesterday.

Netlist, Inc. (Nasdaq: NLST) 19.4% HIGHER; reported Q3 loss of ($0.04), versus ($0.20) reported last year. Revenue for the quarter came in at $16.3 million, versus $10.6 million reported last year.

Cogo Group (Nasdaq: COGO) 19.4% LOWER; reported Q3 EPS of $0.16, 1 cents better than the analyst estimate of $0.15. Revenue for the quarter came in at $146.4 million versus the consensus estimate of $137.89 million.

Mitek Systems Inc. (Nasdaq: MITK) 16.4% HIGHER; rebounding nicely after breaking and successfully holding support at the $8 level. Shares have also pushed over the 200-day SMA today.

Primo Water (Nasdaq: PRMW) 14.0% HIGHER; bouncing following a nearly 50 percent decline over the last two trading sessions. Traders in the stock likely began selling shares following strong results from SodaStream (Nasdaq: SODA).

Cinedigm Digital Cinema Corp. (NASDAQ: CIDM) 14% HIGHER; reported Q2 EPS of ($0.03), which may not compare to the analyst estimate of ($0.18). Revenue for the quarter came in at $23.5 million versus the consensus estimate of $22.2 million.

Tanzanian Royalty Exploration Corp. (AMEX: TRX) 13.5% HIGHER; traders buying the dip following a 33 percent plunge yesterday amid news of a large holder which put in an order to liquidate its position in TRX.

Molycorp (NYSE: MCP) r13% LOWER; eported third-quarter earnings of $0.67 per share with revenue of $138.1 million, versus consensus views calling for earnings of $0.03 per share and revenue of $161.57 million.

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