Unusual 11 Mid-Day Movers 1/2: DNN, MEG, LIZ, TOO Higher; EMKR, QID, ALY, SDS Lower

January 2, 2009 1:47 PM EST

Denison Mines (AMEX: DNN) 41.5% HIGHER; the entire commodity complex (save gold) is seeing substantial upside this morning. Oil is up 3% to nearly $46, copper for February delivery is up nearly $7, and silver is up marginally, just to name a few.

Media General (NYSE: MEG) 29.1% HIGHER; shares are continuing higher today following a 13D filing mid-day on Tuesday disclosing that Mario Gabelli's GAMCO has increased its stake to over 26%. Also, with about 25.5% of its float shorted during December, the stock may be seeing upside as short sellers cover their downside bets.

Liz Claiborne (NYSE: LIZ) 23.5% HIGHER; the stock may be moving higher today on an SEC Form 8-K, which was filed after the close on Wednesday, however this has not yet been confirmed. Notably, the stock is seeing unusually weak volume today, despite the jump. Liz stock has only traded about 2 million times, which seems to be on pace to be somewhat below its average daily volume of about 4 million shares.

Teekay Offshore Partners (NYSE: TOO) 21.4% HIGHER; dry bulk shipping stocks are seeing upside today. The sector was badly beaten up during 2008 and is rebounding nicely on the first trading day of '09. Check out StreetInsider.com's report on DryShips (Nasdaq: DRYS), probably the most popular dry bulk shipper, movement today.

Las Vegas Sands (NYSE: LVS) 17.9% HIGHER; gaming stocks are spiking today on the back of a bullish analyst note on LVS and Wynn Resorts (Nasdaq: WYNN). Click here for the full report.

Dynegy Inc. (NYSE: DYN) 17.5% HIGHER; has entered into an agreement with LS Power Associates, L.P. to dissolve the two companies' development joint venture. Under the terms of the dissolution, Dynegy will acquire exclusive rights, ownership and developmental control of all repowering or expansion opportunities related to its existing portfolio of operating assets. LS Power will acquire full ownership and developmental rights associated with various "greenfield" projects under consideration in Arkansas, Georgia, Iowa, Michigan and Nevada, as well as other power generation and transmission development projects not related to Dynegy's existing operating portfolio of assets. LS Power will receive approximately $19 million in cash during the first quarter 2009 to reflect the relative value of assets exchanged. Additionally, Dynegy will record a loss in 2009 related to the transaction.

EMCORE (Nasdaq: EMKR) 13% LOWER; despite news Wednesday that a securities class action lawsuit was filed against the company, the stock surged on that day. This news may be catching up to the stock today.

ProShares UltraShort QQQ (NYSE: QID) 6.6% LOWER; this short Nasdaq fund is moving lower once again today as the indices are seeing 2%+ moves.

Allis-Chalmers Energy (NYSE: ALY) 6.2% LOWER; giving up gains today following a 37% move higher on Wednesday on news that it has agreed to acquire BrazAlta's remaining stake in BCH.

ProShares UltraShort S&P500 (NYSE: SDS) 5% LOWER; see 1 above.

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

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