Unusual 11 Mid-Day Movers 12/23: CGEN, PSDV, NCT, FSII, DRAM Higher; AMFI, CIIC, CTAS, RUTH Lower
Compugen Ltd. (NASDAQ: CGEN) 63% HIGHER; announced today that it has signed a collaboration agreement with Pfizer for the predictive discovery by Compugen of therapeutic peptide product candidates for three drug targets of interest to Pfizer. The discovery process, which will be based on various Compugen discovery platforms and funded by Pfizer, is expected to take a few months, following which the predicted molecules will be synthesized and delivered to Pfizer. Following an evaluation period, Pfizer will have the right to exercise options for worldwide exclusive milestone and royalty bearing licenses to develop and commercialize the selected product candidates or further optimize them to obtain final potent, selective product candidates with favorable pharmacokinetic properties.
pSivida Corp. (NASDAQ: PSDV) 56% HIGHER; today reported top-line 24 month results from the Phase III FAME study of Iluvien for the treatment of Diabetic Macular Edema being conducted by pSivida's collaborative partner Alimera Sciences. Click here for the full report.
Newcastle Investment (NYSE: NCT) 25.6% HIGHER; shares could be breaking out on technicals today as the stock has now broken above the $2 level for the first time since the end of November. Volume is very heavy today.
FSI International Inc. (NASDAQ: FSII) 18% HIGHER; reports Q1 EPS of $0.00, 3 cents better than the analyst estimate of ($0.03). Revenue for the quarter was $14.6 million, which compares to the estimate of $14.66 million. Sees Q2 orders of $20-$23 million.
Dataram (Nasdaq: DRAM) 17% HIGHER; the stock has surged mid-day on no pressing news. A Form 4 was filed just before the stock started moving, but it was only to disclose the exercise and acquisition of 24,000 shares by a Director. This news is likely not moving the stock, however, the prospect of more insider trades could have shorts covering this hour.
AMCORE Financial (Nasdaq: AMFI) 16.3% LOWER; following news of an amendment with a lender regarding a technical default on Friday of last week, the stock surged more than 100% over two trading sessions, correcting 14% yesterday and continuing lower today.
China Agritech, Inc. (Nasdaq: CAGC) 15.7% HIGHER; today announced that it has achieved its 2009 goal of selling 80,000 metric tons of its new organic granular fertilizer products.
China Infrastructure Investment Corp. (Nasdaq: CIIC) 11.3% LOWER; shares are correcting today following yesterday's 90% surge.
Cintas Corp. (NASDAQ: CTAS) 10.9% LOWER; reports Q2 EPS of $0.39, ex-items, 4 cents lower than the analyst estimate of $0.43. Revenue for the quarter was $884.5 million, which compares to the estimate of $890.24 million.
Ruth's Hospitality Group, Inc. (NASDAQ: RUTH) 9.3% LOWER; today announced that it has entered into agreements with a new investor and with the current lenders under its existing credit facility that are intended to strengthen the Company's balance sheet and improve its operating and financial flexibility.
YRC Worldwide (Nasdaq: YRCW) 9.3% LOWER; the stock jumped about 28% yesterday as the SEC okay'ed the company's debt-for-equity offer, and is likely down today as traders are taking profits.
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