Unusual 11 Mid-Day Movers 3/25: TMA, SEED, GDP, SOL Higher; ABPI, SIRF, MTG, BGP Lower

March 25, 2008 12:53 PM EDT

Accentia Biopharmaceuticals, Inc. (NASDAQ: ABPI) 68.9% LOWER; announced that its Phase 3 clinical trial evaluating the Company's exclusively-licensed technology from the Mayo Clinic consisting of an intranasal antifungal lavage, SinuNase (topical amphotericin B 0.01% suspension) achieved, as anticipated, superior resolution of the cardinal symptoms of chronic sinusitis (CS), as compared to placebo control arm, however, the analysis of the unblinded primary endpoint data did not show the required level of statistical significance when comparing the SinuNase arm to the control arm.

Thornburg Mortgage (NYSE: TMA) 36.3% HIGHER; announced that the company will commence a private placement of up to $1.35 billion in senior subordinated secured notes due in 2015, with an interest rate of 18%, which shall be adjusted to 12% upon the satisfaction by the company of certain conditions.

SiRF Technology Holdings, Inc. (Nasdaq: SIRF) 27% LOWER; sees first fiscal quarter revenue of $60M to $62M revenue, compared to the prior expected range of $71M to $77M.

Origin Agritech (Nasdaq: SEED) 26.5% HIGHER; is surging despite no news today. As Monsanto (NYSE: MON) raised guidance before the market opened this morning, short sellers may be fearing increased momentum in the ag sector and covering their bets. At the end of February, SEED had about 27% of its float shorted. Origin is expected to report after the close today.

Subscribe to EasyStockAlerts and get real-time e-mail alerts when news hits your stocks!

Goodrich Petroleum (NYSE: GDP) 15.8% HIGHER; is jumping today on news that Chesapeake Energy (NYSE: CHK) made several new natural gas discoveries in the Haynesville Shale in Louisiana. This news item is related to Goodrich as the Company recently drilled a successful well in this same Shale.

ReneSola (NYSE: SOL) 15.6% HIGHER; shares of ReneSola are climbing today with the majority of solar stocks. Elsewhere in the sector: Solarfun (Nasdaq: SOLF) up 14.2%, Suntech Power Holdings (NYSE: STP) up 8.4%, Trina Solar (NYSE: TSL) up 6.7% and best-of-breed play First Solar is up 4.8%.

Canadian Solar (Nasdaq: CSIQ) 14.6% HIGHER; Lazard upgrades from Hold to Buy.

Capstone Turbine (Nasdaq: CPST) 13.2% HIGHER; moving today on a lack of news. With short interest that is not unusually high, this could mean that Capstone is trading on techincals today.

MGIC Investment Corporation (NYSE: MTG) 11.7% LOWER; agreed to sell 37,333,333 shares of its common stock in a public offering at a price per share of $11.25, for gross proceeds of approximately $420 million. Shares of MTG closed at $13.30 yesterday.

Syntax-Brillian (Nasdaq: BRLC) 11.2% LOWER; after yesterday's late spike in price, investors may be taking profits today. No news has been released by the Company during today's trading session.

Borders Group (NYSE: BGP) 10.2% LOWER; after surging more than 30% yesterday on rumors that Barnes & Noble could offer to buy Borders, today's decline could be the result of traders taking profits. Notably, Janney Montgomery downgraded shares of Agree Realty (NYSE: ADC) from Buy all the way to Sell. Agree has a large amount of exposure to Borders.

Related Categories

Special Reports

Stocks Mentioned

Related Entities

• UBS
• Lazard
• Janney Montgomery Scott

Add Your Comment

Name

Subject

Body

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