Unusual 11 Mid-Day Movers 11/18: ABK, LZB, NLST, LDK Higher; ONCY, NANO, EXEL, VRUS Lower

November 18, 2009 1:50 PM EST

Ambac Financial (NYSE: ABK) 39% HIGHER; shares are ripping higher today following an 8-K from this morning in which the company disclosed that it will receive about $440 million in tax refunds in Q4. Click here for the full report.

La-Z-Boy Inc. (NYSE: LZB) 22.3% HIGHER; reports Q2 EPS of $0.12, ex-items, inline with the analyst estimate of $0.12. Revenue for the quarter was $300.7 million, which compares to the estimate of $284.76 million.

Netlist (Nasdaq: NLST) 19.1% HIGHER; this is probably the craziest stock I've seen in quite some time. Since launching its 16GB, 2 virtual rank memory module on November 11, today is the first day that the stock has not swung more than 30% up or down. Over this period, shares are up by nearly 250%. Volume continues to be extremely heavy in the stock.

LDK Solar Co., Ltd. (NYSE: LDK) 16% HIGHER; has entered into an agreement to sell a 15% ownership stake in its 15,000 metric ton (MT) annualized capacity polysilicon plant in Xinyu City, China. Jiangxi International Trust and Investment Co., Ltd. has agreed to purchase this interest for approximately RMB1.5 billion (equivalent to approximately US$219 million).

Agria (NYSE: GRO) 16% HIGHER; appear to be breaking out on technicals today as the stock has now spiked over the $3 level and appears to be holding. Volume is about 3x heavier-than-normal.

Oncolytics Biotech Inc. (NASDAQ: ONCY) 15.9% LOWER; announced today that it has entered into an underwriting agreement for an offering of 4,250,000 units, each comprised of one common share and 0.4 of a common share purchase warrant, at a price of $3.00 per unit to raise gross proceeds of $12,750,000. Each whole common share purchase warrant entitles the holder to acquire one common share of Oncolytics upon payment of $3.50, exercisable for a five year period commencing on the closing date of the offering, subject to an acceleration of the expiry date in certain circumstances.

Nanometrics, Inc. (NASDAQ: NANO) 14% LOWER; filed with the SEC a registration to sell at various times in one or more offerings of up to 6,200,000 shares of our common stock. Of these shares, 1,200,000 are being offered by the selling stockholder named in this prospectus and 5,000,000 are being offered by Nanometrics.

China Green Agriculture, Inc. (Amex: CGA) 12.9% HIGHER; announced that the National Taxation Bureau of Yangling Hi-tech Development Zone has recently approved a value-added tax exemption for it's Shaanxi Techteam Jinong Humic Acid Product Co. subsidiary.

Exelixis, Inc. (Nasdaq: EXEL) 12.2% LOWER; today reported interim data from an ongoing phase 1 dose-escalation trial of XL147: Preliminary pharmacokinetic analyses indicate that the PK profiles of XL147, paclitaxel, and carboplatin administered in combination are similar to the PK profiles of each compound administered as a single agent. Robust pharmacodynamic modulation of the PI3K pathway was evident in tumor biopsies at plasma exposures consistent with those associated with PI3K inhibition in tumors in an ongoing single-agent phase 1 trial of XL147. The stock was also downgraded to Neutral at Merriman.

Pharmasset (Nasdaq: VRUS) 12% LOWER; continuing to move lower today following yesterday's 7% slide. The stock has blown through the $22, $21 and now $20 levels today. With the stock up nearly 50% year-to-date and marking a 52-week high on Monday, shorts may be reloading today.

Autodesk, Inc. (NASDAQ: ADSK) 11.2% LOWER; reports Q3 EPS of $0.27, 4 cents better than the analyst estimate of $0.23. Revenue for the quarter was $417 million, which compares to the estimate of $415.33 million. Autodesk sees Q4 EPS of $0.19-$0.24, versus the consensus of $0.25. Sees Q4 sales of $420-$440 million, versus the consensus of $433.5 million. The stock was also downgraded to Neutral at BofA.

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

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