Unusual 11 Mid-Day Movers 12/03: OGXI, PPO, BZH, GW Higher; IFX, HSNI, FCX, PALM Lower

December 3, 2008 1:30 PM EST

OncoGenex Pharmaceuticals, Inc. (NASDAQ: OGXI) 76% HIGHER; announced positive survival results from a randomized Phase 2 clinical trial of OGX-011 in combination with docetaxel and prednisone compared to docetaxel and prednisone alone for first-line treatment of metastatic castrate resistant prostate cancer. The current 10.6 month median overall survival advantage observed in the OGX-011 arm represents an increase over the median survival observed in the control arm. Docetaxel was approved by the FDA based on a survival advantage of 2.4 months over mitoxantrone.

Polypore International Inc. (NYSE: PPO) 44.2% HIGHER; President and CEO, Robert Toth, purchased 35,000 shares on 12/1-12/2 at prices ranging from $4.16-$4.25, bringing his stake to 45,100 shares.

Infineon Technologies AG (NYSE: IFX) 37.9% LOWER; reports large Q4 loss and sees 2009 revenues down at least 15% from 2008. The stock was also downgraded from Hold to Sell by an analyst at Deutsche Bank.

HSN Inc. (Nasdaq: HSNI) 26.4% LOWER; shares are sinking today despite no company-specific news. The stock is seeing unusually high volume today: its already traded more than 1.2 million times, which compares to its average daily volume of 583K.

Beazer Homes USA (NYSE: BZH) 26.1% HIGHER; after falling 8% yesterday on a $12.29 quarterly loss, shares of Beazer are seeing a strong rebound today. Also, JMP Securities upgraded the stock from Market Underperform to Market Perform this morning.

Grey Wolf Inc. (NYSE: GW) 21.9% HIGHER; Precision Drilling Trust and Grey Wolf, Inc. clarify their merger agreement and nove Grey Wolf Special Meeting date to December 23, 2008.

Freeport-McMoRan Copper & Gold Inc. (NYSE: FCX) 21.2% LOWER; cut its production guidance and announced that it would suspend its common stock dividend.

Ascent Solar Technologies, Inc. (NASDAQ: ASTI) 19.9% HIGHER; announced that it has achieved greater than 9.5% efficiency for its flexible Copper, Indium, Gallium, Selenide monolithically integrated modules. The U.S. Department of Energy's National Renewable Energy Laboratory has independently verified that the modules measured as high as 9.64% in conversion efficiency. The modules tested at NREL were produced from the company's 1.5MW pilot production line.

Palm (Nasdaq: PALM) 18.8% LOWER; after falling more than 30% at yesterday's open on a Q2 warning, shares of Palm rallied, ending the day up more than 7%. The stock seems to be correcting today after seeing so much upside yesterday despite the bad news.

Fortress Investment Group (NYSE: FIG) 18.8% LOWER; halts redemptions from Drawbridge Global Macro Fund -Bloomberg

Marvell Technology Group Ltd. (Nasdaq: MRVL) 16.9% HIGHER; reports Q3 EPS of $0.23, 2 cents better than the analyst estimate of $0.21. Revenue for the quarter was $791 million, versus the consensus of $793.08 million.

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