Unusual 11 Mid-Day Movers 12/09: DVAX, FBP, RNWK, VCI Higher; CMRO, MOV, RGEN, CLUB Lower

December 9, 2009 12:43 PM EST

Dynavax Technologies Corporation (NASDAQ: DVAX) 28.1% HIGHER; announced today that its GMP manufacturing facility in Dusseldorf, Germany has been approved for the commercial production of hepatitis B surface antigen, a key component of HEPLISAV, the Company's investigational adult hepatitis B vaccine. The approval comes as a result of an upgrade expanding production capacity. With an updated European Union GMP manufacturing license in place, Dynavax can meet the initial commercial production demands for the anticipated launch of HEPLISAV.

First BanCorp (NYSE: FBP) 19.2% HIGHER; Sterne Agee upgrades the stock from Sell to Neutral.

Comarco, Inc. (Nasdaq: CMRO) 18.9% LOWER; reports a Q3 loss of $0.06, 4 cents worse than estimates. Revenue for the third quarter of fiscal 2010 was $7.6 million vs. $8.49 million consensus.

Movado Group Inc. (NYSE: MOV) 16.8% LOWER; reports Q3 adjusted EPS of $0.12, cents better than the analyst estimate of $0.65. Revenue for the quarter was $129 million, which compares to the estimate of $141.20 million. Sees FY10 GAAP Loss of $1.40 - $1.50. Consensus is for a profit of $0.55.

RealNetworks, Inc. (NASDAQ: RNWK) 16.5% HIGHER; On December 4, 2009, the Arbitrator in the arbitration action between RealNetworks and VeriSign, Inc. (NASDAQ: VRSN) issued his "Full and Final Reasoned Award" disposing of all claims pending in the arbitration. In the Final Award, the Arbitrator concluded that RealNetworks is not responsible for any damages to VeriSign. In addition, the Arbitrator reversed his prior determination that RealNetworks committed acts of tortious interference with existing and prospective business relationships and he dismissed VeriSign’s related tortious interference claims. Finally, the Arbitrator determined that VeriSign failed to prove that RealNetworks’ conduct related to VeriSign’s proposed sale of certain business units proximately caused VeriSign any measurable damages. The stock was also upgraded to Neutral at JPMorgan.

Repligen Corporation (NASDAQ: RGEN) 15.9% LOWER; reported today top-line results from a Phase 3 clinical trial to evaluate the safety and efficacy of RG1068, synthetic human secretin, to improve magnetic resonance imaging of the pancreas in patients with a history of pancreatitis. Click here to see the full report.

Town Sports International (Nasdaq: CLUB) 15.4% LOWER; not hearing any company-specific news that would justify today's move lower. Volume is about twice as heavy as normal today.

Valassis (NYSE: VCI) 15.1% HIGHER; today provided financial guidance for full-year 2010, expecting adjusted EBITDA of approximately $280 million. In 2010, we expect capital expenditures to be $25 million, resulting in expected diluted cash earnings per share (EPS) of $2.48. Management believes that adjusted EBITDA and diluted cash EPS are the most relevant performance measurement criteria for our business.

FSI International (Nasdaq: FSII) 14.8% HIGHER; Craig Hallum upgrades the stock from Accumulate to Buy.

Jackson Hewitt Tax Service Inc. (NYSE: JTX) 14.5% HIGHER; reports Q2 loss of $0.66, 8 cents better than the analyst estimate of ($0.74). Revenue for the quarter was $4.03 million, which compares to the estimate of $5.01 million.

Photronics, Inc. (Nasdaq: PLAB) 10.2% LOWER; reports a Q4 loss of $0.07, in-line with estimates. Revenues were $94.7 million vs. $97.23 million consensus.

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

Create E-mail AlertRelated Categories

Special Reports

Stocks Mentioned

Related Entities

• JPMorgan
• Sterne Agee
• Unusual 11 Mid-Day Movers

Add Your Comment

Name

Subject

Body

Verification can't see the text?
click here to refresh the image.
what's this?