Unusual 11 Mid-Day Movers 1/6: IDEV, TXCO, ARM, ALD Higher; VDSI, CTDC, SMCI, ENDP Lower

January 6, 2009 12:06 PM EST

Indevus Pharmaceuticals, Inc. (Nasdaq: IDEV) 69% HIGHER; Endo Pharma and Indevus today announced that they have entered into a merger agreement under which Endo will commence a tender offer to acquire 100% of the outstanding shares of Indevus for approximately $370 million, or $4.50 per Indevus share, in cash (which is a 45% premium to Indevus Pharmaceuticals today), and up to an additional approximately $267 million, or $3.00 per Indevus share, in cash payable in the future upon achievement of certain regulatory and sales milestones. The transaction has been approved by the boards of directors of both companies.

TXCO Resources (Nasdaq: TXCO) 47% HIGHER; commodity-related stocks are surging today. The Energy Select Sector SPDR ETF( NYSE: XLE) is up 1.6%. Oil & gas stocks appear to be leading the energy space higher.

ArvinMeritor (NYSE: ARM) 40% HIGHER; in a Form 8-K released just before the close yesterday, the company announced that, in response to a worsening economic conditions, the company will decrease the base salaries of its senior executives by 10% as part of a major general cost cutting initiative.

Allied Capital (NYSE: ALD) 34.5% HIGHER; this closed-end investment company's stock continues surging today on very heavy volume but no news. Over the last 3 trading days, shares of Allied are up nearly 80%.

The Talbots, Inc. (NYSE: TLB) 30.7% HIGHER; today announced that it has entered into revolving credit agreements with Mizuho Corporate Bank, Ltd; Sumitomo Mitsui Banking Corporation; and The Norinchukin Bank to convert each of their existing uncommitted working capital lines of $75 million, $50 million, and $25 million, respectively, to committed lines, effective immediately.

YRC Worldwide Inc. (Nasdaq: YRCW) 29.6% HIGHER; Wachovia upgrades YRC to Market Perform, saying recent pessimism seems overblown, but we aren't constructive.

VASCO Data Security International, Inc. (Nasdaq: VDSI) 15.6% LOWER; today announced that, considering a combination of the deterioration of the economy in the U.S. and a number of delayed orders in other geographic markets in Q4, VASCO is reducing its 2008 revenue guidance. The company now sees FY08 sales up 9-12% compared to 2007. VASCO also sees full year Gross Margin and Operating Margin to be within the previously announced ranges.

China Technology Development Group (Nasdaq: CTDC) 15.5% LOWER; following a 39% rise yesterday on news that the company will build a 30MW on-grid solar power station in China's Qaidam Basin, the stock is correcting today.

Super Micro Computer, Inc. (NASDAQ: SMCI) 15% LOWER; now anticipates that it will report revenue for its second quarter of fiscal 2009 in the range of $127 to $129 million. This compares to the company’s previous guidance range of $140 to $150 million. The consensus is $143.5 million. Super Micro also announced that it anticipates that its non-GAAP earnings per share will be in a range of $0.15 to $0.16. This compares to the company’s previous guidance of $0.18 to $0.22 per share. The consensus is $0.17.

Endo Pharmaceuticals (Nasdaq: ENDP) 14% LOWER; see Indevus Pharmaceuticals, the top mover of today.

IntercontinentalExchange (NYSE: ICE) 12.7% LOWER; reported weak volumes for last year before the market opened yesterday. As a result, Deutsche Bank cut estimates, Raymond James, Goldman Sachs and UBS all downgraded the stock.

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

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